Federal Income Tax Reform Proposal - Effect on Californians (rated, business)

[bmw335xi]

Originally Posted by 1AngryTaxPayer

Ha ha Ha that's funny

lol exactly

[CA4Now]

"Trump’s proposed budget would extend his cockeyed 2017 tax cuts to 2027. Those cuts primarily benefit wealthy individuals and corporations like Bezos’ Amazon. (Amazon — guess what? — paid $0 in taxes in 2018; in 2019, its effective tax rate was 1.2%.) The 10 years of the tax giveaway would cost all of us $1.9 trillion."

https://www.latimes.com/opinion/stor...housing-crisis

[2sleepy]

Originally Posted by Tulemutt

As a prime example, regardless of whether any reader here approves of Bernie’s agenda / ideology, his platform has not been contrived and developed on the campaign for POTUS trail. Like the ideas or not (and I don’t buy some of them i.e. free college, and cancelling student debt) he is pitching what he has advocated for as much as 40 years in politics at local city and state levels as well as at national level as a sitting senator long before running for higher office.

I can't stand Bernie Sanders, he's a GD liar none of his "programs" have a chance in hell of ever happening. He's sooo progressive but he's voted against gun legislation 5 times. His supporters go after anyone who dare disagree with him, look at what happened in LV with the union workers. He throws his hands up and says "well I told them to stop" which is the same $hit that Trump does. Voting for him guarantees Trump a second term. Just wait until Trump starts running ads of Bernie on his honeymoon in Moscow

[Tulemutt]

Originally Posted by 2sleepy

I can't stand Bernie Sanders, he's a GD liar none of his "programs" have a chance in hell of ever happening. He's sooo progressive but he's voted against gun legislation 5 times. His supporters go after anyone who dare disagree with him, look at what happened in LV with the union workers. He throws his hands up and says "well I told them to stop" which is the same $hit that Trump does. Voting for him guarantees Trump a second term. Just wait until Trump starts running ads of Bernie on his honeymoon in Moscow

We disagree on this one. I have admired the guy for a couple decades.

That said, liking Sanders or not isn’t the point of what I posted there. I was responding to the accusation that all the candidates were trying to “buy votes” ... not just Trump with his tax cut proposal during election campaign time.

Politicians who have had long-standing agendas outside of election cycles aren’t “buying votes” when they include their old agendas during election cycles as well.

There’s nothing new in Bernie’s agenda. Like him or not. He’s not trying to pull a rabbit out of the hat. He’s just crazy Bernie as he always has been.

[Tulemutt]

Originally Posted by 2sleepy

... Just wait until Trump starts running ads of Bernie on his honeymoon in Moscow

Sure it’ll happen. But think back to all the “grab ‘em by the pu**y” ads launched against Trump in ‘16. And who’s living at 1600 Pennsylvania Ave. today?

Anyways, questionable whether even crazy Bernie can beat Mike’s $66 billion dollars. Talk about a budget to create a fantasy! Pixar can’t touch what Mike’s team is creating.

Probably as smart a move as any for the Democrats would be to get Mike’s money behind Klobuchar’s aw shucks mid-western charm. She’s smart, tough, executive capable, proven legislator, strong progressive bona fides ... and she CAN win those key upper mid-west states.

But ain’t likely Mike will go for it. And Amy’s almost broke.

Fingers crossed though.

[CA4Now]

Not only did the tax cuts not deliver the benefits Trump and congressional Republicans promised, they left the country with a big budget hole that just got much bigger from the once-in-a-century economic shock of the pandemic.

It was a huge mistake that we’re now seeing because we now have less fiscal room than we would have to fight this current crisis,” said Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget.

He noted, for example, that it’s no longer an option to offer certain tax incentives for businesses to invest and stimulate the economy, such as full expensing for new plant and equipment purchases, because it was already included in the 2017 law.

https://www.latimes.com/politics/sto...irus-recession

[amokk]

Originally Posted by CA4Now

Not only did the tax cuts not deliver the benefits Trump and congressional Republicans promised, they left the country with a big budget hole that just got much bigger from the once-in-a-century economic shock of the pandemic.

It was a huge mistake that we’re now seeing because we now have less fiscal room than we would have to fight this current crisis,” said Marc Goldwein, senior policy director for the Committee for a Responsible Federal Budget.

He noted, for example, that it’s no longer an option to offer certain tax incentives for businesses to invest and stimulate the economy, such as full expensing for new plant and equipment purchases, because it was already included in the 2017 law.

https://www.latimes.com/politics/sto...irus-recession

CaliRestoration can you please explain to me why the federal budget deficit is so high under President Trump's tax reform plan?

[Tulemutt]

Originally Posted by amokk

CaliRestoration can you please explain to me why the federal budget deficit is so high under President Trump's tax reform plan?

Simple answer: it’s all Obama’s fault ...

[happly retired]

simple answer- Congress spent too much and ONLY they have the power to spend money - that would include the dummies from both parties are responsible

[CaliRestoration]

Originally Posted by amokk

CaliRestoration can you please explain to me why the federal budget deficit is so high under President Trump's tax reform plan?

This question makes no sense the way it is formed. It seems to be a basic misunderstanding of the difference between revenue generation, budgets, and expenditures.

Do you have a problem with the way revenue is being generated, or do you have a problem with the way it is being spent? Because Trump's tax reforms only have a semi-direct effect on ONE of these, not both. If it's both, then you have to explain the relationship between the two and how that connection looks.

If you can answer that before say 10pm PST (I have a call with a business partner in South America, so I have to catch him AFTER siesta), I can help you gain some knowledge you may be seeking.