Trump plan to cut taxes for middle income Americans

Zestilio

Zestilio

Republican presidential candidate Donald Trump plans to unveil an ambitious tax plan that he says would eliminate income taxes for millions of households, lower the tax rate on all businesses to 15% and change tax treatment of companies’ overseas earnings.

Reducing tax obligations is a great campaign/marketing ploy. And, often successful toward getting the proponent elected.

However, two issues:
1. USA's tax scheme is a creature of USA's Congress.
2. USA's tax scheme is one half of a fundamental and basic equation relating to the cost of government. The other half is the planned expenditures to pay for government functions, affectionately referred to as the 'budget'. If you, Mr. Trump, want your tax scheme to be taken seriously, (important bit: by other than the wee-minded and myopic) you should/must/really ought to propose a budget that matches the tax scheme.


Trump has also said he will cut Federal spending and programs. Which ones he has yet to say?
 
If you are a "benefits consumer", you don't want any program cut... EVER. In fact, you want more of your kind of benefits.

If you are a "benefits provider"...one who is immorally forced to pay high taxes to support the parasites..., you're crying "enough already... let's start making people provide for themselves."
 
Zestilio said:
Republican presidential candidate Donald Trump plans to unveil an ambitious tax plan that he says would eliminate income taxes for millions of households, lower the tax rate on all businesses to 15% and change tax treatment of companies’ overseas earnings.

Reducing tax obligations is a great campaign/marketing ploy. And, often successful toward getting the proponent elected.

However, two issues:
1. USA's tax scheme is a creature of USA's Congress.
2. USA's tax scheme is one half of a fundamental and basic equation relating to the cost of government. The other half is the planned expenditures to pay for government functions, affectionately referred to as the 'budget'. If you, Mr. Trump, want your tax scheme to be taken seriously, (important bit: by other than the wee-minded and myopic) you should/must/really ought to propose a budget that matches the tax scheme.


Trump has also said he will cut Federal spending and programs. Which ones he has yet to say?
More...

A "25% cut across the board".. ALL PROGRAMS... would be a start. (Difficult to selectively cut, as losers would scream bloody murder.. and politicos don't want to offend any group out of fear of losing their vote.)
 
Basically any increase in hedge fund taxes will result in managers altering their behavior therefore causing ripple effect across the markets--- it's not a good thing- not to mention triggering a migration to offshore. surf
 
Nonsense. Hedge fund incentive fees look pretty much like a bonus to me, and bonuses are nto taxed at cap gains rates.

I'm generally against any and all tax increases but this hedge fund scam is based on an incorrect interpretation of the tax code in the first place.
 
Trump is either very smart, or stupid. He knows the tax cuts won't be offset by future revenue from growth immediately. He's going to cut government expenditures drastically. This doesn't sell in Washington or to the underclass. Looks like he's gonna try and sneak this through.
 
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revenue after tax cuts exceeded their previous highs within 2 years... after the Bush tax cuts.
It was similar with Reagan. As long as the fed keeps diluting the dollar you know revenues will eventually exceed highs before the tax cuts.

Feel free to cut away as long as the Fed is electronically printing dollars independent of the budget without any real oversight.

achilles28 said:
Trump is either very smart, or stupid. He knows the tax cuts won't be offset by future revenue from growth immediately. He's going to cut government expenditures drastically. This doesn't sell in Washington or to the underclass. Looks like he's gonna try and sneak this through.
More...
 
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