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Old 07-25-2016, 05:20 PM
 
Location: Beautiful Rhode Island
6,068 posts, read 10,154,685 times
Reputation: 5694

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Assume Trump was elected President and managed to get his tax reform passed as proposed;

https://www.donaldjtrump.com/positions/tax-reform


Would you pay more or less in income taxes?

I think I would pay more because of the simplification of the deductions.....
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Old 07-25-2016, 05:22 PM
 
Location: Whoville....
25,391 posts, read 29,158,203 times
Reputation: 14461
Well, we pay the AMT so I'm guessing we'd pay less. My dd and her dh would pay nothing. I would assume that means they'd get less in food stamps.
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Old 07-25-2016, 08:09 PM
 
Location: Beautiful Rhode Island
6,068 posts, read 10,154,685 times
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I suspect most would actually pay more.
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Old 07-25-2016, 08:17 PM
 
Location: Montgomery County, PA
12,968 posts, read 8,135,425 times
Reputation: 10640
Taxes were the bedrock of Republican policies in every election but this election cycle is not about taxes. Chalk that up to how Trump has set the table. Trade, immigration, reorganizing defense, and jobs. Also, when did any of the candidates tax plans actually made it into law? In fact, I don't even remember anymore what Trump's tax plan is.
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Old 07-25-2016, 08:17 PM
 
Location: United States
10,267 posts, read 4,288,569 times
Reputation: 4717
Quote:
Originally Posted by Hollytree View Post
I suspect most would actually pay more.
The tax rates would be lower for most, so you are wrong.

However, the president doesn't write tax code, so you don't have to worry about it.
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Old 07-25-2016, 08:18 PM
 
Location: Midwest
1,469 posts, read 772,702 times
Reputation: 2338
Every American will get a decrease in their taxes under Trump


Hillary is the one who will be raising taxes & she openly admits it
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Old 07-25-2016, 09:26 PM
 
15,645 posts, read 16,326,470 times
Reputation: 21855
I would pay about the same I do now. Unless I decide to retire and live off our investments. Or cash out move out of California set up shop elsewhere but I would take a beating so it would be a slow process. Unless I go a exchange plus cash with someone
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Old 07-26-2016, 06:28 AM
 
7,853 posts, read 3,814,398 times
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I would have 13 to 14 percent less deducted in taxes then I currently do
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Old 07-26-2016, 06:42 AM
 
1,016 posts, read 1,206,156 times
Reputation: 933
Quote:
If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls.
So under Trump's plan we would increase the the number of moochers with no "skin in the game"?

Without more details it is hard to say if I would pay more or less, but it would probably be about the same.
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