Trump tax plan = big cuts for rich, even hedge fund managers

Yeah, you read it right. As I suspected, when someone with a bit of knowledge about the tax structure of this country took a sharp pencil and a hard look at Mr. Trump's plan, it's just another giveaway to the wealthy. We (those in the middle and lower) also get some benefit, but nothing like those at the top. And - oh my - the deficit - kaZOOM! Straight up adding trillions to the national debt. <sigh>

You can take the time to read the article and understand the con (which would surely pass Congress if it got there) or join the chorus of those singing Mr. Trump's praises and then wonder what happened to our country a few years into the future. So. Read. Understand. And then act. A parting quote or two:

 

Nah, you are making crap up. Unless you can prove it by providing actual "proof" then do not make the claim. Moving on.

 

Doesn't account for the cutting of 7 tax brackets to 4. Bad math.

 

I like the vast majority of Trump's plan. It's geared to economic growth.

 

The only people that could possible see tax cuts as way giveaways are people who believe they OWN other people - thats a lot like slavery.

No tax cuts are all about getting the govt out of other people's business and wallets. Isnt that what the left want, people out of bedrooms, wombs ect?

Considering we're told Trump is really a lefty, the left should be fully supportive of this tax plan.

 

It's more than a bit ironic, that this analysis of Trump's "tax plan" is longer than the plan itself.

Which shouldn't surprise anyone, since the "plan" is more gimmick than anything else.

It's a big fat (vague) promise of a middle class tax cuts, without any corresponding detailed proposal to pay for it. It also plays to an audience taht doesn't understand taxes. Most of them don't actually know what percentage of income taxes they pay now.

And it says not one word about the taxes that most people actually pay (FICA and FUTA).

As ususal, the talk radio right, and all the other "I've got mine, screw you" types heard only that they might get a tax cut.

All the stuff about hedge fund managers and Wall Street bore and confuse that audience, so it's always better to keep it really simple (even if it doesn't make any sense or add up).

It all reminds me of Herman Cain's cocktail napkin "999 Plan" which was eagerly embraced by exactly the same audience.

The real irony is that Trump actually had to consult notes (instead of just making it up on the fly)!

 

I didn't make the claim, other than to say in another thread that his plan was probably just another Repub scam like all of the others. If you have an argument, it's with the fellow who did the research and exposed the Trump plan for what it is.

Whatever else you might think of Trump, this tax plan is pure Republican, and even worse than the one that Bush imposed on us and then went to war on your credit card. If you are peeved about the national debt, then you should be totally outraged with Trump's plan.

I see two large areas of growth in the plan - one will be in the bank accounts and wealth of the already very wealthy and the other will be in the national debt with many trillions added. The plan is just another variation of the 'trickle down' nonsense which has never worked (except for those at the top), yet is still a staple of Republican economic theory.

Seven, ten or four makes me no nevermind. I just look at the results and they totally suck.

 

In order to determine the results you must understand what tax brackets are getting what. That you do not understand this is not at all surprising.

 

Yep he is only focused on the tax cuts for the rich not the ones for the poor. That would go against the "War on Poor" Progressive talking point. Its sad so many posters become nothing but propaganda spreading stooges.

 

lol, the poor dont pay any taxes

 

Lol under his plan and less brackets more poor would not pay the income tax... lol.. lol.

Did i lol enough lol for you to lol understand it lol?

 

lol, they dont have income, except government assistance, food stamps, social security etc.....

Do you really think the poor deserve a tax break on the money they get from the government?

what a freakn joke

 

I am discussing something and the joke is you cant understand it.

http://www.cnn.com/2015/09/27/politics/trump-60-minutes-tax-plan/index.html

CNN breaks it down in pretty simple terms let me know if you need it broken down even more.

 

Typical Republican candidate, at first he starts off with some popular stances, and then completely moves his position to match the powers behind the scenes to meet their requirements.

 

I read about it last night, dont need your link.

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thats what obama did with obamacare.....

 

For once stay on topic, this thread has zero to do with ACA.

 

Communist News Network?
Like that's a reliable source.
Next!

 

Talk about shoddy math, the article actually insinuates 'all' the rich/elites in the highest tax bracket pays the maximum percentage.

I doubt Trump pays over 15% for his total income even though he is technically in the highest bracket. The tax code is a (*)(*)(*)(*)ing joke and stupid people accept what the (*)(*)(*)(*) they are told by the rich people they choose to pander too.

http://www.wweek.com/portland/article-17350-9_things_the_rich_dont_want_you_to_know_about_taxes.html

 

Wonderful.. Provide one then..

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Then you did not understand it...

 

We will have to wait for the full breakdown but let's be honest here, this is a BOON for the rich. Everyone pays the same rates dollar for dollar, where the differences lie is in incomes above $300,000 where those dollars above $300 are taxed at the highest rate. And at its simplest, that reduction in itself is a HUGE reduction for those who pay those rates (like 2% of all taxpayers). But there are myriads of tax breaks/loopholes ONLY available to those in the top tax bracket, so unless ALL of them get closed, this is even better for the top.

If you look at Effective Tax Rates right now they are pretty close to flat (23% to approx 19% for all brackets). Currently income taxes are designed to be progressive based on the assumption that the more you make the more you use. But what Trumps plan does behind the scenes is make the entire system even more regressive. Trump, like all other politicians is only proposing breaks on income taxes, which is the really the only progressive tax we have, while doing nothing with the regressive taxes (sales, use, excise, state....), and what that does to ETR's is make them now regressive also.

This is all based on how much you spend. If you spend 100% of your income to live, you pay a much higher "rate" than someone who only uses 50% of their income to live, because you are paying more taxes as a percentage of income. But also notice that he does nothing to lower FICA, SS taxes etc. Again, those are regressive taxes.

Trump literally takes 15% of of the top..FOR the top. And somehow he is giving everyone a tax break, but it will be "revenue neutral"......c'mon man......

 

Pay em a decent wage and they'll pay taxes.

The entire conservative platform is a giant greed scam. Just one clown promoting greed harder then all the rest.

And all of you lick it up.

 

the more valuable of an employee you are the better youre wage.

 

Not even remotely close to true in this country, not even the same damned universe.

So tell me, when did a tax cut create jobs?

 

When Reagan became President, we had high inflation and he cut taxes, bringing America out of recession in a few short years.

 

on borrowed money.

Why cant we as a country realize that Trickle Down doesn't work in the long term. It is actually detrimental when enacted for long periods. The longer we have it, the worse things become.

What Trump is proposing is more trickle down theory.