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Trump proposes dramatic tax cuts for companies big and small, and other tax reforms

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N

Netherscourge

Banned
His ultimate plan is to remove undocumented workers, allow businesses to hire American's for peanuts and then force people off of welfare into the vacant, peanut-salary jobs the undocumented workers were removed from.

Mark it down. Those are the "new jobs" he wants to create and fill to dismantle the welfare and unemployment system.
 
E

Effect

Member
People were telling him just go for the lower corporate tax. Anymore would be dead on arrival and he swung for the fences. No way in hell any of this gets through. It fucks over everyone but the 1%. It completely fucks over his own supporters as well. Everyone should be fully aware of what some of these will do since tax season just passed. It should be fresh in people's mind how much they need those deductions. No way in hell do Dems agree to this. There's got to be a good number of republicans, for various reasons, will laugh at this. This is just beyond stupid. Not to mention how very likely trump and his family will 100% benefit from this.
 
H

Herr Schwarz

Banned
Morat said:
So quite apart from the morality, how is he going to pay for the massive increase on an already obscene military budget?
Click to expand...

Well apparently instead of sitting on already massive stockpiles of hard cash, big business will get even more cash but this time they won't sit on it... they promise?

An advanced economy like the states, you can't just shake the can and expect anything but explosions.

You're not going to be able to create massive growth with a tax plan. Massive growth is more stimulated by opportunities stuff like emergent technologies create.

A lot of business is retracting not because of tax, but because of changes how we consume, so Joe The Plumber was already fucked. Most things that people need and require are already being served and you could argue growth is stifled more by monopolies within the free market and their lobby power. Than any current tax code.

It's an ignorant sloppy blow job to big business with little concern to the deficit. A president that's a serial bankruptee, that makes sense.

You also don't know how much debt Trump has accumulated personally and is kicking down the street.
 
N

Nokterian

Member
Netherscourge said:
His ultimate plan is to remove undocumented workers, allow businesses to hire American's for peanuts and then force people off of wealth-fare into the vacant, peanut-salary jobs the undocumented workers were removed from.

Mark it down. Those are the "new jobs" he wants to create and fill to dismantle the wealth-fare and unemployment system.
Click to expand...

Not only that but thinks of this, he wants to make a profit out of it also, other company's even more. People who will work are for penny's just like we see in china and other country's. Cheap labor with minimal income to even come around.
 
C

Carpe Libertatem

Member
These tax cuts would help me a bit (especially the increase in standard deduction) but holy shit it's a comically bad idea

But obviously their greater plan is cut taxes -> cut spending because revenue is less. Starve the beast and all that. Not even sure if they can pass these cuts in the first place without also cutting spending to make it revenue neutral.
 
T

timetokill

Banned
Morat said:
So quite apart from the morality, how is he going to pay for the massive increase on an already obscene military budget?
Click to expand...

"The new big league economy will more than make up for the trillion and a half dollars of deficit this creates! Believe me."
 
sankt-Antonio

sankt-Antonio

:^)--?-<
Never understood the hard on the US seems to have regarding tax cuts. From what I read his base is okay with this.

I would gladly have mine raised if that meant a more sensible and stable society. Its worth nothing having a grand more a month if you get shot in the streets because someone fell thru the social net or is an uneducated cop or what have you.
 
C

ClosingADoor

Member
Just cut taxes on the poor and you will see economic growth. They actually spent the money then. Fuck off with these corporate and rich tax breaks.
 
N

numble

Member
Effect said:
People were telling him just go for the lower corporate tax. Anymore wouldn't be dead and he swung for the fences. No way in hell any of these gets through. It fucks over everyone but the 1%. It completely fucks over his own supporters as well. Everyone should be fully aware of what some of these will do since tax season just passed. It should be fresh in people's mind how much they need those deductions. No way in hell do Dems agree to this. There's got to be a good number of republicans, for various reasons, will laugh at this. This is just beyond stupid. Not to mention how very likely trump and his family will 100% benefit from this.
Click to expand...
Which deductions do you think people need?
 
S

subrock

Member
It's like they don't understand that the money from taxes is used to run the country, and instead they're treating it as a vehicle to punishing success
 
Z

Ziltoidia 9

Member
Beartruck said:
The plan seems to rely on mostly just throwing money at people. The deficit will baloon. Trickle down doesn't work.
Click to expand...

It would have the ability to work more of income inequality was so out of wack, but there are so few people with a lot of money, so it never trickles down, and it becomes a situation where there is 2 economies.
 
S

Skatterd

Member
C-WzDWbW0AAsrbU.jpg
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Well this certainly reads like someone who knows nothing about taxes wrote it
 
E

Extra Sauce

Member
Trojita said:
We are going to have another democrat president come in and again be blamed for the even higher increase in the deficit, aren't we?
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Blaming Democratic Presidents for the shit economy inherited from their Republican predecessor and crediting Republican Presidents for the economic recovery inherited from their Democratic predecessor is an American tradition and if you don't like it you can GIT OUT
 
N

Netherscourge

Banned
Nokterian said:
Not only that but thinks of this, he wants to make a profit out of it also, other company's even more. People who will work are for penny's just like we see in china and other country's. Cheap labor with minimal income to even come around.
Click to expand...

Yup.

That how he'll entice Apple, Google, all the big tech companies to build factories in the US.

In addition to forcing them to stay here with crazy high tariff penalties, they can hire US factory workers for peanuts here, and forgo the foreign cheap-labor market altogether.

His plan for a business boom is to crush American wages.
 
W

Wilsongt

Member
Netherscourge said:
His ultimate plan is to remove undocumented workers, allow businesses to hire American's for peanuts and then force people off of wealth-fare into the vacant, peanut-salary jobs the undocumented workers were removed from.

Mark it down. Those are the "new jobs" he wants to create and fill to dismantle the wealth-fare and unemployment system.
Click to expand...

As if Trump supporters would dirty their hands as migrant workers.
 
G

guek

Banned
"The president owns this plan; don't be mistaken," said Gary Cohn, director of the White House National Economic Council.
Click to expand...

Oh you bet your ass we wont. The deficit is going to explode, and when it does, we'll be sure Trump is the one holding the pieces of his folly.
 
H

HylianTom

Banned
Between this and the potential withdrawal from NAFTA, it might be prudent to start preparing for times to get a bit rough.
 
T

The Albatross

Member
Would be a pretty decent income tax reduction for my wife and I. We're in the 28% bracket today, so we'd likely be bumped down to 25%, and our mortgage is our largest deduction, so having the mortgage protected by reducing our bracket would be good personally. I also run a small business, so I'd get that ~4% back or so. Ideal situation, it could put ~$11,000 back in our household per year.

But that's unlikely, and I'd have to wait for it to all shake out, which it never does in the way you want it to. I also don't really mind paying higher taxes if it's going to the right thing. My wife is a school teacher whose salary is based on taxes, so I'm definitely not anti-tax.
 
P

Protein

Banned
"Give more money to extremely rich people, they'll give even more back to the economy, hand out jobs, and better wages. Wealth will trickle down from the heavens.

Give money to poors, they'll lose their work ethic, use their healthcare fund and foodstamps on iPhones and designer handbags, abuse crack, and become lazy n...ahem..welfare queens."

Fuck this piece of shit ideology.
 
C

CCS

Banned
This won't pass.

For it to pass budget conciliation, it has to be budget neutral after 10 years.

Due to corporations being able to carry tax credits through to future years, it's been calculated that for it to be budget neutral after 10 years the tax cuts would have to expire after two years (at least according to analysis reported in the Financial Times today).

I really don't see the Republicans putting in the necessary toil to get this through Congress just for two years of tax cuts. 10 years yes, but not two.
 
RPGCrazied

RPGCrazied

Member
I hope 2018 is a turn around for the Democrats, hopefully we last that long, but we have to get control of congress back.
 
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