Trump to cut corporate tax rate to 15%

Here4money said:
I was wondering what caused today's rally:
https://www.washingtonpost.com/busi...23-11e7-be51-b3fc6ff7faee_story.html#comments

Anyone incorporated here? How big of a pain is it?

Expect a pleasant gap bump tomorrow.
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This was already out today, they had someone from the Trump admin getting questioned on it on CNBC mid day, its all a nonstarter anyways since there is no hope in hell it is getting passed.

As for creating a corporation as a trader, i thought about it and talked to an accountant about it but basically you just end up getting taxed twice if you leave the money in the corporation, Not sure if its the same in the U.S. but it ended up not being worth it for me in Canada.

Might be worth it if you have a ton saved and arent relying on the income from it, and just want to build an account, but retirement accounts cover most of that for me, not big enough to need a corporation.
 
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Here4money said:
I was wondering what caused today's rally:
https://www.washingtonpost.com/busi...23-11e7-be51-b3fc6ff7faee_story.html#comments

Anyone incorporated here? How big of a pain is it?

Expect a pleasant gap bump tomorrow.
More...

Old news.

His tax plan is basically to cut corp tax to 15percent and keep all corp deductions and credits.

Cut inidividual tax rates and eliminate AMT but cut most deductions and credits.

Basically the cap on all inheritance/gifts and reduce the tax rate on them.

An aside when you consider his family, age, business, and his leaked 2005 tax return, you almost get the sense he's writing a policy for himself.
 
I thought hiring was directly tied to demand for products and/services. So we give the thieves a tax break and suddenly demand for products and services go up? BULLSHIT. We've seen this scam before. We need to see hiring first. Hire people and you get a tax break. Don't hire, no tax break. Downsize, tax penalty. Anything else just puts more money into the pockets of the boardroom boyz.
 
CaptainObvious said:
I thought hiring was directly tied to demand for products and/services. So we give the thieves a tax break and suddenly demand for products and services go up? BULLSHIT. We've seen this scam before. We need to see hiring first. Hire people and you get a tax break. Don't hire, no tax break. Downsize, tax penalty. Anything else just puts more money into the pockets of the boardroom boyz.
More...

More and more evidence that Trump doesn't have any idea what he is doing.
 
Floating around on twitter:

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This looks like a Very Serious problem.
 
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