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This is the closest thing to a perfect tax plan in my opinion. It helps the people who need it most, while not punishing hardworking high income earners. It pays for itself by closing tax loop holes and deductions that benefit only the wealthiest Americans who can afford a team of lawyers.
It is near perfect! Even my liberal friend today said it was very surprising, this is something to consider!
This is the closest thing to a perfect tax plan in my opinion. It helps the people who need it most, while not punishing hardworking high income earners. It pays for itself by closing tax loop holes and deductions that benefit only the wealthiest Americans who can afford a team of lawyers.
It is near perfect! Even my liberal friend today said it was very surprising, this is something to consider!
I agree.
I have said for years that I am willing to pay an effective tax rate of up to 20% (anywhere from 10 to 3 percentage points higher than what I pay now, depending on how it's calculated), in exchange for drastic simplification: currently, I spend more time and energy on reporting requirements than I do on generating money, and often I shape my operations to avoid reporting requirements, not on generating more money and not on avoiding tax, the effective level of which is actually quite reasonable - even ridiculously low - if it weren't for the mastodonic reporting requirements which generate no tax revenue for the government, but they do generate revenue for tax lawyers, CPAs and bureaucrats.
[ 42 million households that currently file complex forms to determine they don’t owe any income taxes will now file a one page form saving them time, stress, uncertainty and an average of $110 in preparation costs.
I prepare my own with the help of software, but which would cost me thousands, not hundreds, if I hired live outside help, with no guarantee that they would do it right, but I certainly do pay incalculable costs on terms of time, stress and uncertainty.]
Therefore, only a vile, bombastic, politically incorrect braggart and blow hard with popular support would have even a snowball's chance in hell at implementing a more reasonable and efficient tax code, that would generate more government revenue than currently - or at least be revenue neutral -, over the fierce tooth-and-nail opposition that we all know will come from the tax lawyers, CPAs and bureaucrats whose main interest is their own incomes, and whose political cover will accuse him of everything from racism and to the kitchen sink.
Quote:
Originally Posted by Ponderosa
... even if Trump were to be elected, his plan would go nowhere in Congress with opposition from special interests on both sides. That's not a knock on Trump. It is true of every candidate in the race. Congress is dysfunctional and it is not going to change any time soon.
If he is vile and bombastic enough and has enough popular support, then he has at least a snowball's chance in hell: extremely difficult, but not impossible.
The last time we had significant tax reform was under a great actor who managed to work with Congress by dint of leadership and popular support.
We are by now a vile and arrogant nation, no doubt about that. We need leadership who reflects that to get things done.
Not enough details to see who is hurt and who benefits. It's all academic anyway as even if Trump were to be elected, his plan would go nowhere in Congress with opposition from special interests on both sides. That's not a knock on Trump. It is true of every candidate in the race. Congress is dysfunctional and it is not going to change any time soon.
Not enough details to see who is hurt and who benefits. It's all academic anyway as even if Trump were to be elected, his plan would go nowhere in Congress with opposition from special interests on both sides. That's not a knock on Trump. It is true of every candidate in the race. Congress is dysfunctional and it is not going to change any time soon.
Based on your analysis it doesn't matter who we elect then as we are completely doomed. OK
seems that helps the poor and VERY low income middle class more than actual middle class imo
I'd actually pay 2% more on the Trump plan. I'd like to know what "think tank" ran the number for him. He says the plan doesn't lower the our gross income for the Federal Government. Lets see the math.
I have always thought that the middle class should be the ones to receive tax cuts. They spend the money and grow the economy, in a consumer economy, creating the demand for increased production.
When only the wealthy are given tax cuts they bank it, invest it, but don't hire anyone if there is no increase in demand. The middle class and small business is the engine of the economy and tax cuts the gas to keep it moving.
Most of us knew trickle down was BS when we heard it the first time.
" TRUMP LEADERSHIP FOR THOSE WHO WANT TO WIN AGAIN " GOOOOOOOOOOO TRUMP , Lets get ready to RUMMMMMBLE
As an added thought it seems he is laying the foundation for a smaller government and starting with the IRS. Brilliant !!!
Last edited by phma; 09-28-2015 at 12:05 PM..
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