Trump's tax cut proposal

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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I'm talking more about small businesses.

Corporations can dodge and weave around the tax code but small businesses don't have the same flexibility. They typically operate with much smaller margins.

At any rate, you can take it to the bank: lowering taxes on small businesses will grow the economy. The only question is whether it will be sufficient to make up for the loss in revenue.

The way I look at it, nobody was worried about the deficit until last week, so if we can put more people to work and grow the economy, it's still a win even if it adds to the deficit.

Since nobody wants to cut spending, anyway.
 
Micawber said:
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.
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I hope you are correct.

Although in many ways he is better than many other Republicans, because he cant seem to get anything done, Imagine another Republican who is competent, with a Republican Congress.
 
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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Personally I hate the whole "tax cuts create jobs" argument.

While I understand the argument and agree with it in principle I think it is the wrong argument

I prefer arguing the tax code or moral grounds and the role of government and government spending.

But that argument is too hard for many.
 
I Love America said:
Personally I hate the whole "tax cuts create jobs" argument.

While I understand the argument and agree with it in principle I think it is the wrong argument

I prefer arguing the tax code or moral grounds and the role of government and government spending.

But that argument is too hard for many.
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I wouldn't say it's too hard - it's just too cerebral. Most people are practical and want to know how a gov't action is going to affect their individual lives.

If a tax cut does create jobs, that's all that really matters to most. I don't even think many care what affect it would have on the deficit as long as it has a positive effect on employment.
 
I Love America said:
Personally I hate the whole "tax cuts create jobs" argument.

While I understand the argument and agree with it in principle I think it is the wrong argument

I prefer arguing the tax code or moral grounds and the role of government and government spending.

But that argument is too hard for many.
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It's one of two very good arguments.
 
Thing1 said:
I wouldn't say it's too hard - it's just too cerebral. Most people are practical and want to know how a gov't action is going to affect their individual lives.

If a tax cut does create jobs, that's all that really matters to most. I don't even think many care what affect it would have on the deficit as long as it has a positive effect on employment.
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You increase employment, you increase the number of taxpayers and that increases revenue. Not even factoring in the decrease in entitlement costs [foodstamps, unemployment etc] since the unemployed soak up a lot of government spending.

You can debate whether the revenue increase would offset the decrease from lower taxes, but the increase from jobs is going to be there.

I think it's a no-brainer.
 
Thing1 said:
If you aren't feeling conned yet - this ought to do it.

Check it out. An unabashed & historic giveaway to corporations and the very rich. Cutting corporate taxes to make America "business friendly" is one thing; this kind of completely inequitable windfall makes no sense at all. Trump claims that that the job growth that will result will offset the huge amount he's going to add to the deficit, but the #'s don't add up.

It's just a gift for his rich friends, on the backs of the middle class and future generations. He wore a red baseball cap and talked a lot about workers, so everyone thought he was "one of them," and "talks just like us."

Like everything else, we shouldn't have taken him literally.
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Gargantuan reductions in the "death tax" so his kids will absolutely benefit.

Massive tax breaks to corporate America so Donnie will gain personally.

And the dim bulb Trumpkins bought it all...hook, line and sinker.
 
ZappasGuitar said:
Gargantuan reductions in the "death tax" so his kids will absolutely benefit.

Massive tax breaks to corporate America so Donnie will gain personally.

And the dim bulb Trumpkins bought it all...hook, line and sinker.
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Trump didn't run on cutting taxes and cutting corporate taxes? What was his campaign tax proposal Zap?
 
Darth Omar said:
You increase employment, you increase the number of taxpayers and that increases revenue. Not even factoring in the decrease in entitlement costs [foodstamps, unemployment etc] since the unemployed soak up a lot of government spending.

You can debate whether the revenue increase would offset the decrease from lower taxes, but the increase from jobs is going to be there.

I think it's a no-brainer.
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There is a tipping point. I agree that we have to make the tax environment business-friendly - but that logic doesn't extrapolate out indefinitely.

In other words, "tax cuts are good for business" doesn't necessarily equate to "massive tax cuts are even better for business," and certainly not to "eliminating taxes is best for business." The latter is an extreme, but illustrates the point. There is a % at which we're fostering job growth, but also not blowing up the deficit with no hope of revenue offset, no matter what the growth.

Trump's plan is pie in the sky on that front. The #'s don't add up.
 
Thing1 said:
There is a tipping point. I agree that we have to make the tax environment business-friendly - but that logic doesn't extrapolate out indefinitely.

In other words, "tax cuts are good for business" doesn't necessarily equate to "massive tax cuts are even better for business," and certainly not to "eliminating taxes is best for business." The latter is an extreme, but illustrates the point. There is a % at which we're fostering job growth, but also not blowing up the deficit with no hope of revenue offset, no matter what the growth.

Trump's plan is pie in the sky on that front. The #'s don't add up.
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So, we just keep doing what we're doing and declare anything above 2% growth is just a memory?
 
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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Yeah, I am racists against white Republican crackers
 
Darth Omar said:
So, we just keep doing what we're doing and declare anything above 2% growth is just a memory?
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Not at all. The line between that & Trump's proposal is nowhere near a fine one.

I support the idea of tax cuts. Believe it or not, I agree w/ ILA on some level that it's a moral issue. I particularly think that cutting corporate taxes is important in terms of keeping businesses domestic, and not overly burdening small businesses which are key to job growth.

But, there is a minimum of taxation that we need, and Trump's plan goes below that. Going from 35% to 15%? He's being bold just for the sake of being bold. If it's just intended as a starting point for Congress, that's fine - but it would never work if implemented. It would blow up the deficit, no matter what the growth.
 
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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It is astounding how naive JPP conservatives are when it comes to cutting taxes and the supposed "benefits" to workers.

Over and over and over and over they are told how "trickle down " is the answer to all their prayers, only to watch as the rich take their new tax cut and squirrel away any added profits while nothing ever seems to "trickle down" to them.
 
Darth Omar said:
You don't think it's immoral for the government to confiscate the wealth of the dead?
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Jefferson, Franklin, Madison and many other leaders from our inception warned against the dangers of inherited wealth. Remember, our country was basically started because of the oppressive nature of the aristocracy we escaped.

That is more of a moral issue than what you suggest. And the estate tax is just that - a tax. It still allows for inheritance, and only kicks in at a certain level.
 
ZappasGuitar said:
Gargantuan reductions in the "death tax" so his kids will absolutely benefit.

Massive tax breaks to corporate America so Donnie will gain personally.

And the dim bulb Trumpkins bought it all...hook, line and sinker.
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Eliminating the death tax is essential. A noble such as myself needs to be allowed to retain my rank. I can't be demoted to your lowly status that is for sure
 
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