Trump's tax cut proposal

Rumors abound Trump's simplistic tax plan was written on a beverage napkin and passed without review to manager Ian Faith of Spinal Tap.
 
Queen Snowflake said:
Another tax plan that will do nothing for the economy but grow the deficit, you people can't be this stupid, but you prove time and again that you are.

https://www.forbes.com/sites/johnwa...p-zombie-tax-plan-will-hurt-you/#22363ac6657c
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"You people" is racist!

What your author chooses not to reconcile is that deficits and the debt ultimately won't go down until growth in Medicare and S.S. is dealt with. He claims it's a desire to privatize which just shows his bias.
 
cawacko said:
"You people" is racist!

What your author chooses not to reconcile is that deficits and the debt ultimately won't go down until growth in Medicare and S.S. is dealt with. He claims it's a desire to privatize which just shows his bias.
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True, it is code for white gun stroking bitter Christian rednecks from Appalachia on welfare ....aka Republican base or affectionately as you people.
 
cawacko said:
"You people" is racist!

What your author chooses not to reconcile is that deficits and the debt ultimately won't go down until growth in Medicare and S.S. is dealt with. He claims it's a desire to privatize which just shows his bias.
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It's not just the one article, though. Even Republican deficit hawks can see the flaws in this plan.

Trump talked about some aspects during the campaign. As everything is w/ Trump, his own forecast of the effect dramatic cuts like this will have on increasing revenues are unrealistically rosy.

The #'s don't add up. It will not pay for itself unless we hit growth levels that border on fantasy.
 
Darth Omar said:
There's two really good things about Trump's tax proposal: the first is the prospect for jobs. The current corporate rate is too high. A lower corporate rate should allow more hiring. Same ditto for small businesses---which accounts for 85% of jobs. Small businesses were suffocating under the current tax rate and they do most of the hiring.

So more people working equals more people paying taxes. There's nothing not to like about it as far as I'm concerned.
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Businesses don't hire for the sake of hiring. They hire when there is a greater demand for whatever they offer.
 
Thing1 said:
It's not just the one article, though. Even Republican deficit hawks can see the flaws in this plan.

Trump talked about some aspects during the campaign. As everything is w/ Trump, his own forecast of the effect dramatic cuts like this will have on increasing revenues are unrealistically rosy.

The #'s don't add up. It will not pay for itself unless we hit growth levels that border on fantasy.
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No question there are flaws in the plan; no proposed plan of this size is without them. And of course because this has to go through Congress there will be changes made. Admittedly I haven't fully read through every part of the plan so I'm somewhat speaking out of my *ss here but our economy needs a shake up. I don't know if this will be its driver but I'm excited it was proposed.
 
cawacko said:
Onceler, the problem with your argument is Trump doesn't have any friends and the people he is trying to impress most are the rich NY socialites who happen to all be democrats. But Trump said all along he would cut taxes so I'm not sure if you thought being pro worker meant he would raise them?
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Rump wants money from rich Republicans for his next run.
 
They are not even pretending that this proposal would not blow a record new hole in the debt.

Raiding the national treasury.

I am not against a tax cut, but pay for it first.
 
domer76 said:
Businesses don't hire for the sake of hiring. They hire when there is a greater demand for whatever they offer.
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That's true, but it's also true that it's next to impossible to grow a business without putting money back into it. Businesses are consumers too.

And when businesses start buying goods what happens?
 
I don't think he wants to run again if it keeps going like this. His extremely fragile ego can't withstand an 8 year relentless pummeling and he knows it. He can get more easy gratification, he thinks, by limping along, lying about his accomplishments and getting back to his pop culture comfort zone.
 
Darth Omar said:
That's true, but it's also true that it's next to impossible to grow a business without putting money back into it. Businesses are consumers too.

And when businesses start buying goods what happens?
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They buy goods when the consumers demand them. No money back in the pockets of the middle class = no demand.

Big business already has multiple hundreds of billions, maybe more, that they've been sitting on for some time. Where's the hiring?
 
domer76 said:
They buy goods when the consumers demand them. No money back in the pockets of the middle class = no demand.

Big business already has multiple hundreds of billions, maybe more, that they've been sitting on for some time. Where's the hiring?
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Most hiring comes from small businesses. They are the ones who benefit in this plan.

Regarding large corporations you have to ask yourself what is holding them back from hiring? Why do they see more benefit in stock buyback? That is the macro question.
 
Darth Omar said:
That's true, but it's also true that it's next to impossible to grow a business without putting money back into it. Businesses are consumers too.

And when businesses start buying goods what happens?
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reducing the cost of doing business (as in taxes and health care costs) also makes it easier to reach the point of expanding........
 
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