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And I hope you were equally conscientious in sticking up for Obama, when Obama was POTUS.
I would just like to add, in case you're not aware of it, that he has done a very broad range of things that are basically to benefit himself and/or his family - proposing tax changes that will benefit him, visiting his properties so as to attract more business, giving positions to totally unqualified family members, starting the women's initiative for Ivanka, doubling his club membership fees, etc. And those are just the things we know about!
Robert Reich is a socialist. Just like Bernie he has flirted with the democrat party. He is big on wealth redistribution and has called for a 90% federal income tax on some taxpayers. That is not capitalism.
Your source speaks of Trumps tax plan eliminating the deduction for state and local income taxes paid. But "low and middle-income families pay a bigger share of their income in state and local taxes than wealthy families." And Trumps plan to eliminate deductions will increase federal taxes more on low and middle income families than it does the wealthy.
I want tax reform where marginal rates go down as do deductions. Simplifying the tax code.
I would like changes in America's tax system as well. But in 2019 the federal deficit is projected to be $601 billion dollars, and when a country has deficits that large is the correct course of action to give the wealthy huge tax cuts?
You don't get it simply soaking the rich as you want to do will which mean they move their money around to different countries and tax schemes and the US gets nothing.
I know a non-CEO who makes over $1 million dollars a year, and a few years back he was facing 35%+ tax rates and he was literally looking for ways to hide money from taxes. And I believe certain people like that should have their taxes lowered (but only lowered to a point that won't too greatly reduce government revenues.)
And while many Americans are being punished with too high tax rates the millionaire/billionaire CEO's who give our politicians their campaign money only pay 14%-17% federal tax rates. And I believe before our tax system is overly modified that corruption should be eliminated.
US companies have 2.5 trillion parked overseas that they are not bringing back here because of the high corporate taxes. Apple has 250 billion. Lower taxes and the money comes back. Raise taxes more will leave the country. A one time repatriation would flood us with tax dollars and everyone would benefit.
"The substantial tax bill most firms would face if they attempted to bring this cash home, however, means that it is still very unlikely to ever be repatriated under the current system," Capital Economics U.S. economist Andrew Hunter said in a note to clients. "This vast pile of foreign cash could provide a substantial boost to GDP if it was ever brought home."
Large corporations have a single purpose and that's to make as much money as possible. And regardless of how low tax rates are those corporations will still try to pay as little in taxes as possible. Perhaps laws providing severe penalties for offshoring money would do more to stop offshoring than lowering large corporations tax rates.
Sessions doesn't just go right back to being Senator. He's gotta re-win that seat. It's basically forced retirement.
At this point, you're a total idiot to give up a Congress seat to serve in some ill-fated position in this administration.
Trump owes Sessions far more for not only what he gave up for the position, but also to just be a decent boss. Support your employees. You don't run them over with the bus repeatedly. Tillerson will be one of the next to bounce at the rate its going because he's had enough. You think he doesn't regret giving up being CEO of Exxon at this point? Not even about money, he could lead an organization and not constantly be undermined by a clown.
This is right. Both Tellerson and Sessions have had successful careers without Trump, and they won't be unemployed for long if they don't want to be. They took on their respective jobs because they had some things they wanted to do, and their new jobs gave them a better opportunity to do those things.
I don't feel sorry for them exactly. But this cluster**** is surely not what they anticipated.
Sessions was supposed to unleash hell on the Clintons.
Sessions is a disgrace.
Rudy is the man for AG.
Rudy will end the Clintons, forever.
Trump was good friends with the Clintons, and after his election, called for leaving them alone. Called her a nice lady.
The Clintons are extremely powerful. Rudy is an ant to them. He would be crushed, and there is no point in pursuing them anyway. They aren't even in any political office anymore.
Your source speaks of Trumps tax plan eliminating the deduction for state and local income taxes paid. But "low and middle-income families pay a bigger share of their income in state and local taxes than wealthy families." And Trumps plan to eliminate deductions will increase federal taxes more on low and middle income families than it does the wealthy.
Most low income people if they actually owe taxes use the standard deduction they do not itemize so I don't see this as an issue. Its just game when you tax people at a high rate then offer all these deductions and loopholes to get the amount down. And the more you make the more you can afford to pay a pricey accountant or attorney to figure all this out. Most people don't bother so the current system favors the rich. Better to simplify.
Quote:
Originally Posted by chad3
I fully agree. But the latest analysis of Trumps tax plan says the following,
Trumps tax cuts "will add $3.4 trillion to the deficit over the next decade."
"Not everyone will be getting a tax cut."
And "the richest 1% will enjoy tax savings that are disproportionately larger than everyone else."
Is it fair to do tax cuts that disproportionately give their benefits to the richest 1% of Americans?
I would like changes in America's tax system as well. But in 2019 the federal deficit is projected to be $601 billion dollars, and when a country has deficits that large is the correct course of action to give the wealthy huge tax cuts?
Like I said before the plan is not set in stone. Congress gets to change it how they want. So whatever analysis you read is not of any value at this point.
In 2016 under Obama when the economy was suppose to be rebounding nicely the deficit was 1.6 trillion. It ballooned 10 trillion under him and yes part of that was recovering from the recession but only part.
What some economists see is that if you lower taxes and stimulate growth, bring the oversees money back etc. That the economic growth will offset the deficits and there will be a budget surplus.
Quote:
Originally Posted by chad3
I know a non-CEO who makes over $1 million dollars a year, and a few years back he was facing 35%+ tax rates and he was literally looking for ways to hide money from taxes. And I believe certain people like that should have their taxes lowered (but only lowered to a point that won't too greatly reduce government revenues.)
And while many Americans are being punished with too high tax rates the millionaire/billionaire CEO's who give our politicians their campaign money only pay 14%-17% federal tax rates. And I believe before our tax system is overly modified that corruption should be eliminated.
Large corporations have a single purpose and that's to make as much money as possible. And regardless of how low tax rates are those corporations will still try to pay as little in taxes as possible. Perhaps laws providing severe penalties for offshoring money would do more to stop offshoring than lowering large corporations tax rates.
Large corporations have a single purpose to their shareholders who will dump their stock if they screw up. They are not living in a void where they can do whatever they want. There is accountability.
Large corporations like Apple or Nike make money all over the world. So some of the money starts out offshore and needs to come back here. Instead of forcing them to bring it back which might cause them to move their main operations elsewhere its better to encourage it by have a lower tax rate. Small businesses where the owner might make a million a year cannot move their money all over the world. Same for individuals who make a good living. So its not a level playing field.
The US government makes the tax code and perhaps the system of creating it is corrupt meaning lobbyists and special interests get a big input into what deductions will exist. Once its law then people do their best to work the system and as long as the don't do anything illegal its not corrupt just not very fair. Best to simplify things. That benefits the little guy.
Trump has narcissistic personality disorder and has apparently never been held accountable for anything his entire life. The daily clown show of his presidency is the result.
I thought that he might be the youngest, but he has a younger brother. I also believe that he was coddled and managed to skate through school. (He is woefuly ignorant for someone with a college degree).
He was also sent to military school, which was sometimes a way to discipline unruly boys (at the time, they were not co-ed). In addition to NPD, he is infantile, and would never succeed in any adult endeavor if he did not have money. Can you imagine him as a teacher, doctor, minister, dentist, shoe salesman, barber? The only occupations in which he might have succeeded are sports-related, because they do not need to be articulate, WWF notwithstanding.
I am not saying this in any way to be mean and hateful, but he would be a psychologist's W@t dream to analyze.
I feel somewhat sorry for him, because the world worked for him before, and he cannot understand why it does not now. All he wants is for people to love and respect him, but he cannot understand that those feelings are not generated by fear, intimidation, sharp dealings, dishonesty, and disloyalty.
Um, why do you think that Sessions' main job is to unleash hell on the Clintons? Was that in his oath of office or something?
unleashing hell on the Clintons would be like Bush going after Gore for supposedly lying about climate change
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