Tax Reform Under Trump 2017


#21

Both plans are lunacy. Trump’s is completely detached from reality, fiscally. Ryan’s is the plan of a moustache twirling villain, but is slightly more rational in that it actually tries to pay for those tax cuts for the super rich by taking from the middle and upper middle class.

Trump’s plan is massive tax cuts for the wealthy with a smokescreen of populist tax cuts for the lower orders. His base will love that.

Ryan’s plan is completely unappealing unless you are a self-hating poor person or a completely self-absorbed rich person.


#22

Not tax related, but more evidence this is truth:

The “harmful rule” they over turned prevented shooting hibernating bears and wolf pups in their dens.


#23

God, what a bunch of assholes.

Let’s remind them that they failed to roll back Obamacare, which, at various points, they’ve seriously even compared to even being worse than slavery.


#24

Yeah, personally, as a die hard liberal cuck, I would much rather have democrats work with the president to ensure the tax reform is fair to the middle class, than to say “fuck it” and get nothing done.


#25

The American Tax Freedom Act of 2017

Corporate Tax - abolished
Capital Gains Tax - abolished
Inheritance Taxes - abolished at Federal level, states can do what they like
Flat Tax Rate on income of over US $1 million - 5%
Flat Tax Rate on income of US $250K-$1 million - 25%
Flat Tax Rate on income below US $250K - 50%

Critics will decry this as a war on the middle class, but Trump will patiently explain to everyone how it’s really the best plan to #MAGA, because if we relieve all the corporations and rich people of their tax burdens, they will put that money back into the economy by creating more jobs and paying better wages for employees, thereby offsetting the higher taxation rates on the middle class. It’s a win-win for everyone!


#26

This! Health care and taxes are too important to view solely through the lens of political advantage. If Trump is sincere about wanting to forge bipartisan support, that would be fantastic. That really would be Reagan-like.

Of course, I doubt he’s sincere about it. He just wants ‘wins,’ and his style is more narcissistic bully than charismatic visionary.


#27

Fucking the middle and lower class while telling them it’s for their own good would be perfectly Reagan-like.


#28

Yeah, I’ve been under the impression that’s the entirety of the GOP platform for my entire life.

It’s remarkable that they’re able to continue to rob the middle and lower classes blind merely by pointing out the window and shouting that there’s a gay Muslim elephant walking down the street.


#29

At least a simplified tax code would make it easier to just adjust the numbers when the Dems get power back, and massively hike taxes on the rich.


#30

Honestly, I really think that they need to say, “Ok, we’re gonna cut every tax bracket EXCEPT the top one.”

I think that moderate cuts to the lower brackets will benefit the economy, and the top bracket doesn’t really NEED a tax cut… although, note, that if you cut every bracket, the richest people will still get a tax cut. They will just get exactly the same tax cut as the richest person in the next bracket down.

It seems like this kind of thing is something that everyone in both parties should be able to agree to.


#31

To some extent. Given the deficit and current needs of the country, I do question if tax cuts are what we need right now. So I’m currently not convinced on the premise, but if that’s the way things need to go then sure, I think that’s the sort of compromise you’d need to do.


#32

I keep hearing people talking about “flat taxes.” Well, I like the idea of any tax cuts being a flat dollar amount.

“We want to cut everyone’s taxes by $500.” It just so happens that the poor will appreciate that a massive amount more than the rich despite the benefit being the same. I can get on board with that, and it’s got the bonus of being really easy for the CBO to score.


#33

That’s not what flat taxes means…


#34

Edit: All in good fun. :D


#35

I mostly remain depressed about the fact that American voters - who we’ve previously established are fucking idiots on the whole - are in fact so fucking stupid that the mere act of proposing a tax break for the wealthiest among us doesn’t immediately and permanently end someone’s political career.


#36

That’s exactly what should be done- lower income brackets spend more of the money, which gets recycled under the velocity of money theory- and provides the most stimulus.

What Republicans do is actually the most harmful thing you can do.


#37

I can see individuals in the upper brackets wanting the tax cuts to shake out this way. But I’m always confused why corporations don’t encourage tax cuts for the middle class. It’s shown that the middle class tends to spend their money as opposed to saving it. All of that money will end up going to companies in the long run. They ultimately get more money than way than they would with a corporate tax rate cut.

I guess a corporation is nothing more that individuals, of which the decision makers are typically in the upper tax bracket. Having them put their personal self interest above what is good for their company isn’t totally surprising, I guess.


#38

Well, rich people do in fact invest their money heavily, which provides capital for economic growth. It’s not “spending” money in the same sense as you buying a car, but it’s of pretty critical importance to the economy.


#39

The lower velocity of $500 given to a rich person vs a lower bracket is not at all disputed by anyone serious.

But please, tell us more about how the gains will trickle down to the rest of us!


#40

Oh, I know - sorry, that part was tongue in cheek but I failed in the delivery of the joke. I get annoyed by the “simpler is better” argument being a determining factor for some.