From the Guardian: Bosses pocket Trump tax windfall as workers see job promises vanish - excerpt: Communications Technology has been changing ever since the Internet became real in the early 1990s. In fact, just as the Agricultural became the Industrial Age in the 19th century we are in the midst of yet another fundamental evolution - from the Industrial to the Information Age. Some would say the Donald is simply funding his reelection campaign by lowering upper-income taxation. Naughty me for repeating it here ... !
Economists and even many republicans are beginning to admit the tax package was a huge lie. But hey, now more multinational trillion dollar companies can pay less taxes so that’s a win for the average American I guess.
I am sure someone that saved a few hundred million in permanent tax cuts thanks you for believing your pathetically small — and temporary — tax cut was worth it.
This is an old republican play. Cut taxes and let the country go poor. Then shout "see, we can't afford entitlements".
How bout the 44 percent who pay zero Federal tax start paying their share? Everyone should have some skin in the game. A minimum of 10 percent tax should be mandated. And stop the EITC give away program.
The trump hating left should seek a new tax advisor and accountant. The tax cut was positive for most lower and middle class workers with the possible exception of those living in heavily taxed blue states. As for many in the upper income brackets depending upon the state could and did actually pay more in overall taxes in 2018.
I am suspicious when I hear Trump fans raving about their great riches from the tax cut, especially the ones who usually play loose with economic facts. In reality, for most Americans the tax cut was too small to actually make a difference: https://time.com/5570679/trump-tax-cuts/ The middle 1/5 "made" $20 per biweekly paycheck. Too little to make an impact. In fact, that's exactly what is was for me, I pay a little less taxes, but no noticeable for my financial health. And at what price? Trillion dollar deficits as far as the eye can see? And that's not even considering what will happen to the deficit in the next recession,which surely will come? Then, all the dry powder is spent.
We haven’t had a trillion dollar deficit since Obama and the Dem Congress.. if the cuts are so insignificant as you claim it’s got really to do with the deficit....it’s spending silly
Our income changed very little from the year before. Yours had to be different for your poor swing. That, and/or you had a terrible tax preparer.
Con? That's cute. There were no lies there though. You believe that govt should only allow you a small portion of your income in order to give more to others.
What matters is the deficit referenced to the percentage of GDP (which is the best reference for the ability to actually achieve reduction): From here: Trump's Big "Win": The Largest Budget Deficit With A Strong Economy - excerpt: And this was the candidate who said he'd get rid of national deficits? From "The HIll": Trump: I will eliminate U.S. debt in 8 years And so he wants four more years to do it? Yeah, right. Now pull the other leg ...
How much do you propose the 60 Fortune 500 companies that paid no tax (many had a negative rate) then? The vast majority of the remainder paid an emtr that is lower than most individuals. What’s “fair” in your mind? Should we just abolish taxes altogether? Or maybe just for the wealthy?
I don't pay taxes in the US. I live in France. I pay much higher tax-rates than you. But, I have nearly free Healthcare and my sons' university annual-fees cost 850€ (slightly higher in dollars). How about you ...?
It's not the revenues that matter. It's the Spending Deficits that do. Especially when the largest expenditure responsible for the deficit is the DoD! Where's the war ... ???
Well, wrong again. The largest part of the budget by far is the mandatory spending which is increasing rapidly. Military spending is discretionary spending. Mandatory spending is long term and growing fast and of course democrats have promised not to do anything about that.