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Trump doesn't control the purse strings. Congress does.
And Trump's budget raises the debt, while the tax cuts reduce the government's income. That's how the debt can be racing up.
And if Congress passes his proposed legislation (in my post) there will be a reduction is spending.
That is why I said, if there is any blockage in the house , we need to pay attention on who voted for or against.
And if Congress passes his proposed legislation (in my post) there will be a reduction is spending.
That is why I said, if there is any blockage in the house , we need to pay attention on who voted for or against.
Trump is asking for a huge bump in military spending, he's increased his request for monies for the wall, he's asking for more money for infrastructure spending, and he's blown millions of dollars so he can spend weekends at his personal properties. He's a spender, a big spender.
Funny you say that. My wife does the books at her company. The owner makes roughly $3-4 million a year, and I can assure you percentage wise he is paying much more in taxes then you or I do, both before and after this new tax plan. I consider his pay in the wealthy scale. If you are referring to the 500 or so billionaires we have in this getting a break, I can't speak to that and don't really care if they do.
Really, you can assure that? So your wife not only does the books for her company, she does the owner's personal tax return preparation as well? She sees all of his and his wife's personal spending, not just the company books?
Really, you can assure that? So your wife not only does the books for her company, she does the owner's personal tax return preparation as well? She sees all of his and his wife's personal spending, not just the company books?
She does see their personal spending, she does not to their tax preparation. She does right the $80k quarterly federal income tax check though.
Believe what you want. She just doesn't see any special breaks that he gets that we don't. Could I be wrong, sure, I'm going off of memory... not a detailed analysis of his taxes.
Don't worry -- your tax increase will eat up any take-home increase you might get. Smoke and mirrors.
From everything I've read we should be dropping from 28% to either 24% or possibly 22% and our deductions will be more. It's all hearsay until we actually do them though.
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