Trump's tax plan.....You judge!

[kaz]

Trump Tax Plan Gives 47% Of Cuts To Richest 1%, New Analysis Finds

According to the nonpartisan Urban-Brookings Tax Policy Center, Trump’s latest proposals would cut taxes by $6.2 trillion over the next decade, with 47% of all cuts in 2017 going to the top 1%.

The tax cuts that Trump is now proposing are smaller than the $9.5 trillion in cuts he floated last year, but are also more tilted in favor of the wealthy.

Under Trump’s new plan, every income group would still get tax cuts, but upper income households would receive the most relief, not only in dollars, but as a percentage of income.

Trump Tax Plan Gives 47% Of Cuts To Richest 1%, New Analysis Finds

...

Urban Brookings is a liberal think tank, moron

........and so is Forbes????

Even if it's true, which I doubt, the top 1% pay 40% of the taxes, so the cut isn't as disproportionate as it sounds. And the previous tax cuts, including W's, the top 1% got a proportionately lower tax cut than everyone else

Not nit picking but I think it's closer to 50% for the top 1%, so getting 47% of the cuts is fair.

Note to liberal nitwits: It's 47% of the proposed cuts, not a 47% reduction in what they're currently paying.

I was just talking about the income tax. You're referring more to total taxes since they bear even a bigger portion of other taxes (e.g., corporate taxes). Either way to look at it is fine. The point is that Democrats see 47% and hyperventilate when that's actually in line with what they pay and they've been shortchanged on all recent tax cuts on a percentage basis.

You realize since we don't want to single out the rich for vitriol, that means we love and worship them, right?

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

That a quote from the Little Red Book, Mrs Mao?

 

[kaz]

WTF, how do you know that since he hasn't presented a plan yet? Jesus fing christ.

BTW, the best way to cut small business taxes is to lower the top individual tax rate. I believe he actually supported doing that, so you are seriously basing this on your own bigotry, Mrs. Mao

The leftists here have never had a course in economics. They don't grasp the pass-through taxation of LLC's and LLP's.

S Corps also. Yes, minor variations of each other. Ignorance is the oxygen of liberalism, it would die without it

 

[Dragonlady]

You are an idiot, which is WHY you are a democrat. You have no grasp at all of economics or business, You spew Marxist rhetoric whilst lacking even a semblance of what the foolishness you promote means.

First off gnat, nearly all corporations in the United States are small businesses. You are trained by your masters to attack business. Why do you think Soros and the international banking consortium puts so much time and money into leftist websites and agitators who incite half-wits like you to attack business?

Using rightwing talking points that deny reality is no better. Trump isn't cutting taxes for "small businesses". He's cutting taxes for businesses big enough to offshore their manufacturing. In hopes of them bring the jobs back, which they won't. They'll take the cheaper taxes and stay where they are.

WTF, how do you know that since he hasn't presented a plan yet? Jesus fing christ.

BTW, the best way to cut small business taxes is to lower the top individual tax rate. I believe he actually supported doing that, so you are seriously basing this on your own bigotry, Mrs. Mao

You people just keep repeating the same taxation policies that gave the country Black Tuesday and the Great Recession. Cut and spend. Didn't work for Reagan. With the working class already bled white when their jobs fled the country under Bush, the whole economy collapsed when Bush's stock market collapse hit.

Good luck with your next Republican lead "downturn".

 

[Uncensored2008]

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

You DO grasp that your master, the one who dictates your thoughts and views is the main catalyst behind this, right?

The Middle Class elected Trump to stop the savaging of us by you Khmer Rouge democrats in your lust to concentrate all power in the hands of your masters.

 

[Dragonlady]

...
........and so is Forbes????

Even if it's true, which I doubt, the top 1% pay 40% of the taxes, so the cut isn't as disproportionate as it sounds. And the previous tax cuts, including W's, the top 1% got a proportionately lower tax cut than everyone else

Not nit picking but I think it's closer to 50% for the top 1%, so getting 47% of the cuts is fair.

Note to liberal nitwits: It's 47% of the proposed cuts, not a 47% reduction in what they're currently paying.

I was just talking about the income tax. You're referring more to total taxes since they bear even a bigger portion of other taxes (e.g., corporate taxes). Either way to look at it is fine. The point is that Democrats see 47% and hyperventilate when that's actually in line with what they pay and they've been shortchanged on all recent tax cuts on a percentage basis.

You realize since we don't want to single out the rich for vitriol, that means we love and worship them, right?

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

That a quote from the Little Red Book, Mrs Mao?

No that's a quote from Trump's playbook. People expected things to be different. For Trump to stop the bleeding. He's accelerating it.

 

[kaz]

You are an idiot, which is WHY you are a democrat. You have no grasp at all of economics or business, You spew Marxist rhetoric whilst lacking even a semblance of what the foolishness you promote means.

First off gnat, nearly all corporations in the United States are small businesses. You are trained by your masters to attack business. Why do you think Soros and the international banking consortium puts so much time and money into leftist websites and agitators who incite half-wits like you to attack business?

Using rightwing talking points that deny reality is no better. Trump isn't cutting taxes for "small businesses". He's cutting taxes for businesses big enough to offshore their manufacturing. In hopes of them bring the jobs back, which they won't. They'll take the cheaper taxes and stay where they are.

WTF, how do you know that since he hasn't presented a plan yet? Jesus fing christ.

BTW, the best way to cut small business taxes is to lower the top individual tax rate. I believe he actually supported doing that, so you are seriously basing this on your own bigotry, Mrs. Mao

You people just keep repeating the same taxation policies that gave the country Black Tuesday and the Great Recession. Cut and spend. Didn't work for Reagan. With the working class already bled white when their jobs fled the country under Bush, the whole economy collapsed when Bush's stock market collapse hit.

Good luck with your next Republican lead "downturn".

You think I'm cut and spend? Wow, you're a bigger idiot than I thought. Yes, Toots, I'm a big government libertarian. Wow, can you find your ass with both hands and a map?

I'm all cut and cut, baby ..

 

[Uncensored2008]

S Corps also. Yes, minor variations of each other. Ignorance is the oxygen of liberalism, it would die without it

Some states still have S Corps using pass through taxation, but Delaware and other business friendly states do not. With the rise of LLC's, there is not a lot of reason to incur the costs of an S corporation anymore. It is becoming anachronistic.

 

[kaz]

Even if it's true, which I doubt, the top 1% pay 40% of the taxes, so the cut isn't as disproportionate as it sounds. And the previous tax cuts, including W's, the top 1% got a proportionately lower tax cut than everyone else

Not nit picking but I think it's closer to 50% for the top 1%, so getting 47% of the cuts is fair.

Note to liberal nitwits: It's 47% of the proposed cuts, not a 47% reduction in what they're currently paying.

I was just talking about the income tax. You're referring more to total taxes since they bear even a bigger portion of other taxes (e.g., corporate taxes). Either way to look at it is fine. The point is that Democrats see 47% and hyperventilate when that's actually in line with what they pay and they've been shortchanged on all recent tax cuts on a percentage basis.

You realize since we don't want to single out the rich for vitriol, that means we love and worship them, right?

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

That a quote from the Little Red Book, Mrs Mao?

No that's a quote from Trump's playbook. People expected things to be different. For Trump to stop the bleeding. He's accelerating it.

Trump was the one quoting Marx and Mao, not you? Interesting, when did he do that?

On another topic, are you drunk right now?

 

[Dragonlady]

The Middle Class elected Trump to stop the savaging of us by you Khmer Rouge democrats in your lust to concentrate all power in the hands of your masters.

I'm not a Democrat. I'm not an American. I'm watching your country implode with hate, bigotry, and an absolute worship of the wealth which I fail to fathom. My ideas are my own, as a student of history, and of great men. If this were Roman Times, you've just elected Caligula as Emperor. The Senate thought they could control him too.

I've been watching Trump since the 1980's, just because he was so bizarre, and such a con man. Especially with the casino bankruptcies.

Watching him on 60 Minutes was scary. He had the look of a man who had no intention of winning and holy fuck now what do I do. I am so glad I do not live in the US at this moment in history.

 

[kaz]

S Corps also. Yes, minor variations of each other. Ignorance is the oxygen of liberalism, it would die without it

Some states still have S Corps using pass through taxation, but Delaware and other business friendly states do not. With the rise of LLC's, there is not a lot of reason to incur the costs of an S corporation anymore. It is becoming anachronistic.

First, obviously this is a side issue, we agree on the point.

I don't know about that, I owned three S corps, though all were in North Carolina. I did a quick search and it said Delaware S Corps still pass through profits. I am not aware of any cost for an S corp that doesn't apply to LLCs. Actually, the reason I did an S Corp is that payroll taxes for the owner are more friendly while everything else is the same.

Are you thinking of a C corp? The whole purpose of an S Corp is to pass through profits. Why would a State have an S corp and a C corp if you don't pass through profits, wouldn't they be the same?

 

[Dragonlady]

Not nit picking but I think it's closer to 50% for the top 1%, so getting 47% of the cuts is fair.

Note to liberal nitwits: It's 47% of the proposed cuts, not a 47% reduction in what they're currently paying.

I was just talking about the income tax. You're referring more to total taxes since they bear even a bigger portion of other taxes (e.g., corporate taxes). Either way to look at it is fine. The point is that Democrats see 47% and hyperventilate when that's actually in line with what they pay and they've been shortchanged on all recent tax cuts on a percentage basis.

You realize since we don't want to single out the rich for vitriol, that means we love and worship them, right?

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

That a quote from the Little Red Book, Mrs Mao?

No that's a quote from Trump's playbook. People expected things to be different. For Trump to stop the bleeding. He's accelerating it.

Trump was the one quoting Marx and Mao, not you? Interesting, when did he do that?

On another topic, are you drunk right now?

I wasn't quoting Marx or Mao either, I was pointing out how the Reagan taxation code strips wealth from the lower income individuals to the benefit of the wealthy.

 

[kaz]

The Middle Class elected Trump to stop the savaging of us by you Khmer Rouge democrats in your lust to concentrate all power in the hands of your masters.

I'm not a Democrat. I'm not an American. I'm watching your country implode with hate, bigotry, and an absolute worship of the wealth which I fail to fathom. My ideas are my own, as a student of history, and of great men. If this were Roman Times, you've just elected Caligula as Emperor. The Senate thought they could control him too.

I've been watching Trump since the 1980's, just because he was so bizarre, and such a con man. Especially with the casino bankruptcies.

Watching him on 60 Minutes was scary. He had the look of a man who had no intention of winning and holy fuck now what do I do. I am so glad I do not live in the US at this moment in history.

Why does not being an American mean you can't be a Democrat? You're here whoring for them with crap that America is imploding "with hate, bigotry and an absolute worship of the wealth." It's a retarded statement based on ignorance, hate and fear and completely self serving to Democrats.

Hell, you can even vote Democrat. Just fly to Mexico City, walk across our open border and find a name to vote for since we don't check ID

 

[kaz]

I was just talking about the income tax. You're referring more to total taxes since they bear even a bigger portion of other taxes (e.g., corporate taxes). Either way to look at it is fine. The point is that Democrats see 47% and hyperventilate when that's actually in line with what they pay and they've been shortchanged on all recent tax cuts on a percentage basis.

You realize since we don't want to single out the rich for vitriol, that means we love and worship them, right?

No, what it means is that the transfer of wealth from the working class and the middle class to the top 1% will continue, unabated. That 47% of people are now reliant on expensive government run programs to supplement their meager incomes, isn't enough for the oligarchs. This is why they haven't given a damn about working people. They have no more wealth to give. The middle class is bleeding. They elected Trump to stop this, not accelerate it.

That a quote from the Little Red Book, Mrs Mao?

No that's a quote from Trump's playbook. People expected things to be different. For Trump to stop the bleeding. He's accelerating it.

Trump was the one quoting Marx and Mao, not you? Interesting, when did he do that?

On another topic, are you drunk right now?

I wasn't quoting Marx or Mao either, I was pointing out how the Reagan taxation code strips wealth from the lower income individuals to the benefit of the wealthy.

It is Marxism, it is not anything to do with Reagan. It's just Maoist propaganda. You miss the old fart, huh, Mrs Mao?

Funny how his opulent wealth didn't harm the people, huh?

 

[Uncensored2008]

I'm not a Democrat. I'm not an American.

Then what business is this of yours?

I'm watching your country implode with hate, bigotry, and an absolute worship of the wealth which I fail to fathom.

We saw it, which is why we turned the corrupt Clinton Crime Family out.

My ideas are my own, as a student of history, and of great men.

Your ideas, or more properly your fantasies, are an amalgamation of the ideas of Karl Marx, Joseph Staling, Mao, and Pol Pot.

I don't view these as "great" men.

If this were Roman Times, you've just elected Caligula as Emperor. The Senate thought they could control him too.

If so, the Hillary was Nero.

I've been watching Trump since the 1980's, just because he was so bizarre, and such a con man. Especially with the casino bankruptcies.

Watching him on 60 Minutes was scary. He had the look of a man who had no intention of winning and holy fuck now what do I do. I am so glad I do not live in the US at this moment in history.

What you don't grasp is that America did not vote FOR Trump, but against the corruption of the democratic - socialist party.

As you said, they do nothing other than foment racism, bigotry, and hatred.. We are tired of it. It is not a crime to be white, it is not a crime to be a Christian, it is not a crime to be a man. You are free to do as you please, but you have no right to force me to celebrate your choices or even agree with them.

America told you thugs to fuck off.

 

[AntonToo]

"How does what you just said connect to dynamic effects of tax-cutting?"

When you cut taxes, the wealthy invest more and create more jobs which helps everyone else.

Also, the top 1% pay 40% of taxes, yet every cut has involved their getting far less than that as a percent of tax cuts.

Funny how again, all you care about is the money and how it affects you. You're clearly not in the top 1%. So again you want to make sure that people not named antontoo are paying as much of it as possible.

It's all about the money for you

Kaz that sounds wonderful, except you are neglecting the very real DOWNSIDES tax cuts ACTUALLY do have.

When people pay less taxes, government collects less taxes and as a result our national budget deficit increases. You can argue that ultimate revenue reduction will be somewhat offset, but that would only account for small fraction of upfront revenue reductions.

We currently at 20Trillion dollar national debt and are on a path to long term insolvency, Trumps tax-cuts only make fiscal situation worse, 5-10Trillion dollars worse within 10 years no matter how rosy of dynamic effects we'll make allowance for.

The way you are talking about this is standard fare right wing free lunch economic theories, where people pay less taxes, government collects same (or even more if you are really bat-sht crazy) revenues. Everyone wins and the reason why that myth sounds too good to be true is because IT IS.

What can I say? You're just wrong and don't know what you are talking about. Tax cuts cause higher deficits in the first 2-3 years, then over time the revenue from the economic expansion dwarfs it.

I do this for a living, you post on message boards

I learned this in economics and understand the math behind it (I was also a math major) and you're parroting liberal politicians.

I'll give your opinion all the consideration it deserves

That is both arrogant and ignorant post. You certainly DID NOT "learn it in economics" because no economic course would teach such a falsehood.

It is ignorant because you will hardly find a single economist that would suggest that Bush's tax cuts, extended by Obama and now these new Trump tax cuts are self-financing economic free lunch. EVERYBODY loves downside-free economic policy. Why wouldn't I or anyone, left or right, want to pay less taxes?

On the contrary, you will find that the only disagreement is in the potency of the fractional dynamic effects.

Here, read up what sane, non-ignorant conservative tax-cut lovers sound like:

In a paper on dynamic scoring, written while I was working at the White House, Matthew Weinzierl and I estimated that a broad-based income tax cut (applying to both capital and labor income) would recoup only about a quarter of the lost revenue through supply-side growth effects. For a cut in capital income taxes, the feedback is larger--about 50 percent--but still well under 100 percent. A chapter on dynamic scoring in the 2004 Economic Report of the President says about the the same thing.

Greg Mankiw's Blog: On Charlatans and Cranks

So do you go to doctors and tell them they don't know medicine, lawyers do? Then tell them they're arrogant for thinking that doctors know more about medicine than lawyers? Give it a go, they'll laugh at you just like I am.

And I addressed "tax cuts" here, not the "Bush tax cuts." I have addressed those in other posts. Either ask me what I think of them or find those, but don't tell me what I think of them. Again, you calling anyone arrogant, classic

Again, WTF? We are OBVIOUSLY talking about tax-cuts in the context of current tax rates that Bush passed and Trump proposes to cut further.

I gave you explanation from highly respected CONSERVATIVE economist who was an economic adviser for Bush administration, and supported his tax cuts policies, just not for stupid counter-factual reasons you do.

And this is your response to me? You are a clown.

 

[Uncensored2008]

S Corps also. Yes, minor variations of each other. Ignorance is the oxygen of liberalism, it would die without it

Some states still have S Corps using pass through taxation, but Delaware and other business friendly states do not. With the rise of LLC's, there is not a lot of reason to incur the costs of an S corporation anymore. It is becoming anachronistic.

First, obviously this is a side issue, we agree on the point.

I don't know about that, I owned three S corps, though all were in North Carolina. I did a quick search and it said Delaware S Corps still pass through profits. I am not aware of any cost for an S corp that doesn't apply to LLCs. Actually, the reason I did an S Corp is that payroll taxes for the owner are more friendly while everything else is the same.

Are you thinking of a C corp? The whole purpose of an S Corp is to pass through profits. Why would a State have an S corp and a C corp if you don't pass through profits, wouldn't they be the same?

Yep, it is a side issue. But S corporations may be pass-through, or may not.

Per the IRS here are requirements for direct filing of income tax by S Corporations.

S Corporations

It isn't C corporations that make S corps unneeded, it is LLC's. I can find little reason to form and S corp. An LLC provides the limitation to liability, though it does restrict stock issuance.

 

[JoeNormal]

Well gnat, you DO lie after all - democrat.

In Hitler's concentration camps the unemployment rate was 0%

A 2% unemployment in a country that has an annual per capita GDP of less than $2,000 points to slavery, not to a thriving economy.

Hey, MORON....I am NOT defending Vietnam's working conditions.....If your other half brain were working, you'd see that I was responding to the WHY jobs in the US will NOT be gained by giving rich companies ADDED tax cuts......If these companies need more workers, they'll go where labor is substantially cheaper.

Find a grown up to explain it to you......

Don't ruin his illusions. He's living for the time when Trump will devastate our tax base so that jobs can come raining down from the heavens.

 

[JoeNormal]

[
Where is the economic expansion from the Bush tax cuts? Or the economic expansion from Obama's continuation of them?

Why do you think Obama continued the Bush tax cuts? What was his reason?

He couldn't get tax increases for the rich past an obstructionist Congress. He caved way too soon and for me, that was when my support for him ended.

Republicans are "obstructionist" when they won't do things they oppose, got it. So now any time Democrats oppose Trump you're going to call them "obstructionist," right?

I will if it's as childish as what the Republicans were doing. I have no special love for the Dems.

 

[Dragonlady]

Overall, the economy performed far better under Obama than Reagan

I hope you have nice



because you sure don't have a brain ...

Look at the numbers, not what the debt bought. Reagan's Presidency was our next door neighbour building a big addition on his house, two new cars and a fur coat for his wife, but it was all on money borrowed from the Chinese.

It was the Democrats in Congress who pulled the plug on his Star Wars missile defense system.

I'm off to take my finished goods to the collective to exchange for tea and biscuits.

 

[JoeNormal]

The Middle Class elected Trump to stop the savaging of us by you Khmer Rouge democrats in your lust to concentrate all power in the hands of your masters.

I'm not a Democrat. I'm not an American. I'm watching your country implode with hate, bigotry, and an absolute worship of the wealth which I fail to fathom. My ideas are my own, as a student of history, and of great men. If this were Roman Times, you've just elected Caligula as Emperor. The Senate thought they could control him too.

I've been watching Trump since the 1980's, just because he was so bizarre, and such a con man. Especially with the casino bankruptcies.

Watching him on 60 Minutes was scary. He had the look of a man who had no intention of winning and holy fuck now what do I do. I am so glad I do not live in the US at this moment in history.

I envy your detachment. I've felt like I was sailing on a ship of fools ever since W took the reigns and inexplicably, it's gotten worse.