So cut taxes to the poor/middle class, tax the rich. How is he different from Bernie & hilldawg again?
Trump - Make America Great Again!
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He will put up a wall between us and Mexico.
He dropped the highest (rich) from 39.6% down to 25%. He just took away loopholes for the scammers.
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Taxes definitely need an overhaul.
But make no mistake about it, tax policy is used to control and manipulate actions.
We tax high but offer huge tax credits for things the government wants: have kids and buy a house. We tax the hell out of the poor/middle class through "sin taxes" and behavioral issues: gas, cigarettes, alcohol, lottery, gambling, speed traps, DUI, tolls. As a middle class we spend so much of our income on those things each month while the % to someone making $250,000+ is nothing.
It's a racket. The government tells us they don't tax the poor, but they do all the time.
What we really need is to get rid of all these hidden taxes and decide if we really want to use the tax code to encourage or discourage populace morales and activities. And it we decide to do it let's be forthcoming with how much revenue by our government is really coming from each wealth bracket. Because it's not the super rich that are getting caught in speed traps or wasting there money on scratch lottos or using 5% of their income on beer, gas and cigarettes. It's easy to throw stones at those people from our glass houses and say "Don't buy alcohol if you can't afford it" but if that was what the government really wanted there are better ways to do it rather than making a "sin tax" on it. And we all know that's true.
But make no mistake about it, tax policy is used to control and manipulate actions.
We tax high but offer huge tax credits for things the government wants: have kids and buy a house. We tax the hell out of the poor/middle class through "sin taxes" and behavioral issues: gas, cigarettes, alcohol, lottery, gambling, speed traps, DUI, tolls. As a middle class we spend so much of our income on those things each month while the % to someone making $250,000+ is nothing.
It's a racket. The government tells us they don't tax the poor, but they do all the time.
What we really need is to get rid of all these hidden taxes and decide if we really want to use the tax code to encourage or discourage populace morales and activities. And it we decide to do it let's be forthcoming with how much revenue by our government is really coming from each wealth bracket. Because it's not the super rich that are getting caught in speed traps or wasting there money on scratch lottos or using 5% of their income on beer, gas and cigarettes. It's easy to throw stones at those people from our glass houses and say "Don't buy alcohol if you can't afford it" but if that was what the government really wanted there are better ways to do it rather than making a "sin tax" on it. And we all know that's true.
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You're conflating a whole lot of stuff here. Speed traps and DUIs are not "sin taxes" on immoral behavior. They are fines for dangerous, illegal activities that put others at risk. If you are stupid enough to waste significant sums of money on the lottery I have no sympathy for you, the lottery is quite upfront about the fact that it is a government money making program. It's totally voluntary. It's not a "hidden tax".
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He doesn't pay 25% on the whole 80k....
Del has been taken over by the pod people. Welcome to the Tea Party. We meet on Thursday nights and have pizza.
I received a parking ticket for parking on a street during street cleaning day. The ticket was for $75, of which $18 was the actual fine. The rest was for mandated state and county fees. Hidden taxes. They will get you when you aren't watching.
Sell your car and install field turf.
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Parking tickets are for the purpose of collecting revenue. Still, it's not a "hidden tax", like say, hidden in the price of a gallon of gas. Generally there are signs indicating where you can park and when, and where you can't. If you don't want to pay it, don't park there.
What are the tax plans for the other candidates? I already know Sanders'- tax the **** out of everyone until nobody has anything left. But kudos to Trump for actually spelling it out and putting it out there.
His corporate / small business tax reduction is HUUUUUUUGE! I would hire a couple more salesmen (creating new jobs). If the socialists win then I'll probably have to fire a couple people. See how that works? It's simple math really. Let the people and companies that earn money keep more of it. It's theirs. Getting rid of the death tax and AMT are awesome too, love it.
Great summary article that Trump wrote for the WSJ.
http://www.wsj.com/articles/tax-reform-for-security-and-prosperity-1443485999
Tax Reform for Security and Prosperity
Four tax brackets: 0%, 10%, 20% and 25%. No marriage penalty, no alternative minimum tax.
ENLARGE
PHOTO: GETTY IMAGES
By DONALD J. TRUMP
Updated Sept. 28, 2015 8:45 p.m. ET
164 COMMENTS
The first priority for the government of the United States should be to provide security for its people. That security includes removing uncertainty and making sure that the economic future of the country is assured through better deals, smarter trade agreements and tax policies that unburden the middle class and unleash the private sector.
My approach to tax policy will do just what needs to be done. For all Americans, the uncertainty and complexity of a tax code written for special interests and the very rich will be removed and a clear future will be available for all. My tax plan has several goals. Let me make it clear that this set of policies takes dead aim at eliminating deductions and loopholes available to special interests and the wealthy, as well as those deductions made redundant or unnecessary by the much-lower rates every person or business will be paying.
In particular, I am proposing ending the current treatment of carried interest for hedge funds and other speculative partnerships that do not grow businesses or create jobs.
The first goal of the plan will be to provide tax relief. If you are a single person making less than $25,000 or married or filing jointly and earning less than $50,000, you will not owe any income tax. This will remove some 75 million households from the income-tax rolls.
Second, the tax code will be simplified. Instead of multiple tax brackets with multiple variations, there will be only four brackets: 0%, 10%, 20% and 25%. This new code eliminates the marriage penalty and the alternative minimum tax while providing the lowest tax rates since before World War II. Further, this plan eliminates the death tax, thus allowing families to keep what has been earned.
The proposed policies will allow the middle class to keep most of their deductions while eliminating many of the deductions for the very rich. With more money in middle-class pockets, consumer spending will increase, college savings will grow and personal debt will decline.
Third, we need to grow the American economy. For the past seven years, the economy has been at a virtual standstill. Growth in the gross domestic product of less than 2% a year is pathetic. We need to spur production, bring home jobs and make it easier to invest in America.
My plan states that any business of any size will pay no more than 15% of its business income in taxes. This low rate will make corporate inversions unnecessary and will make America one of the most competitive markets in the world. This plan will also require companies with capital offshore to bring that money back to the U.S. at a repatriation rate of only 10%. Right now, the money is not being brought back because the tax is so high.
Finally, this plan will not add to our deficits or to the national debt. With disciplined budget management and elimination of waste, fraud and abuse, this plan will allow the nation to balance the budget, boost the economy to record levels, clear the backlog of workers sitting at home and begin the process of reducing the debt. With moderate growth, this plan will be revenue-neutral. As president, I will pursue policies that will ensure huge economic growth and put this country on the road to extraordinary prosperity.
Any candidate can roll out a tax policy, but this one has the economic well-being of the country and its citizens at the forefront. This plan is bold, but it is also cast in reality and common sense. Growing the economy will provide the security we need to make America great again.
Mr. Trump is a candidate for the Republican presidential nomination.
http://www.wsj.com/articles/tax-reform-for-security-and-prosperity-1443485999
Tax Reform for Security and Prosperity
Four tax brackets: 0%, 10%, 20% and 25%. No marriage penalty, no alternative minimum tax.
ENLARGE
PHOTO: GETTY IMAGES
By DONALD J. TRUMP
Updated Sept. 28, 2015 8:45 p.m. ET
164 COMMENTS
The first priority for the government of the United States should be to provide security for its people. That security includes removing uncertainty and making sure that the economic future of the country is assured through better deals, smarter trade agreements and tax policies that unburden the middle class and unleash the private sector.
My approach to tax policy will do just what needs to be done. For all Americans, the uncertainty and complexity of a tax code written for special interests and the very rich will be removed and a clear future will be available for all. My tax plan has several goals. Let me make it clear that this set of policies takes dead aim at eliminating deductions and loopholes available to special interests and the wealthy, as well as those deductions made redundant or unnecessary by the much-lower rates every person or business will be paying.
In particular, I am proposing ending the current treatment of carried interest for hedge funds and other speculative partnerships that do not grow businesses or create jobs.
The first goal of the plan will be to provide tax relief. If you are a single person making less than $25,000 or married or filing jointly and earning less than $50,000, you will not owe any income tax. This will remove some 75 million households from the income-tax rolls.
Second, the tax code will be simplified. Instead of multiple tax brackets with multiple variations, there will be only four brackets: 0%, 10%, 20% and 25%. This new code eliminates the marriage penalty and the alternative minimum tax while providing the lowest tax rates since before World War II. Further, this plan eliminates the death tax, thus allowing families to keep what has been earned.
The proposed policies will allow the middle class to keep most of their deductions while eliminating many of the deductions for the very rich. With more money in middle-class pockets, consumer spending will increase, college savings will grow and personal debt will decline.
Third, we need to grow the American economy. For the past seven years, the economy has been at a virtual standstill. Growth in the gross domestic product of less than 2% a year is pathetic. We need to spur production, bring home jobs and make it easier to invest in America.
My plan states that any business of any size will pay no more than 15% of its business income in taxes. This low rate will make corporate inversions unnecessary and will make America one of the most competitive markets in the world. This plan will also require companies with capital offshore to bring that money back to the U.S. at a repatriation rate of only 10%. Right now, the money is not being brought back because the tax is so high.
Finally, this plan will not add to our deficits or to the national debt. With disciplined budget management and elimination of waste, fraud and abuse, this plan will allow the nation to balance the budget, boost the economy to record levels, clear the backlog of workers sitting at home and begin the process of reducing the debt. With moderate growth, this plan will be revenue-neutral. As president, I will pursue policies that will ensure huge economic growth and put this country on the road to extraordinary prosperity.
Any candidate can roll out a tax policy, but this one has the economic well-being of the country and its citizens at the forefront. This plan is bold, but it is also cast in reality and common sense. Growing the economy will provide the security we need to make America great again.
Mr. Trump is a candidate for the Republican presidential nomination.
I get that. Not convinced of Trump's ability or sincerity yet. I'm still a Ted Cruz guy.
See above.
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I like his tax plan a lot. I doubt anything like that will ever get passed though. Lowering taxes on evil businesses? Letting evil rich people keep their mortgage deductions and inheritances? What? That takers in this country are never gonna go for that.
I dunno, assuming President Trump keeps a Republican House and Senate I'm sure he could rally the troops to pass his tax reform, let the Democrats scream and wail, but they'll never put that back in the box for a long time. Meanwhile peoples' lives get better and you know he'll keep reminding them who did it.
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I'm pretty sure the government prefers I have a job, but they tax my income.
I get tax breaks for my mortgage, but not enough to offset the property taxes I pay.
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One more down?
Rand Paul super PAC goes dark
One of the three super PACs supporting Rand Paul’s presidential campaign has stopped raising money, dealing a damaging blow to an already cash-starved campaign.
In a Tuesday telephone interview, Ed Crane, who oversees the group, PurplePAC, accused Paul of abandoning his libertarian views -- and suggested it was a primary reason the Kentucky senator had plummeted in the polls.
“I have stopped raising money for him until I see the campaign correct its problems,” said Crane, who co-founded the Cato Institute think tank and serves as its president emeritus. “I wasn’t going to raise money to spend on a futile crusade.”
“I don’t see the point in it right now,” he added.
http://www.politico.com/story/2015/09/rand-paul-superpac-purplepac-dark-214221#ixzz3n9W0UuPu
Rand Paul super PAC goes dark
One of the three super PACs supporting Rand Paul’s presidential campaign has stopped raising money, dealing a damaging blow to an already cash-starved campaign.
In a Tuesday telephone interview, Ed Crane, who oversees the group, PurplePAC, accused Paul of abandoning his libertarian views -- and suggested it was a primary reason the Kentucky senator had plummeted in the polls.
“I have stopped raising money for him until I see the campaign correct its problems,” said Crane, who co-founded the Cato Institute think tank and serves as its president emeritus. “I wasn’t going to raise money to spend on a futile crusade.”
“I don’t see the point in it right now,” he added.
http://www.politico.com/story/2015/09/rand-paul-superpac-purplepac-dark-214221#ixzz3n9W0UuPu
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Warning: you can't unsee this.... That's a good look for Donald.
<blockquote class="twitter-tweet" lang="en"><p lang="und" dir="ltr">.<a href="https://twitter.com/realDonaldTrump">@realDonaldTrump</a> <a href="http://t.co/885nADHhPj">pic.twitter.com/885nADHhPj</a></p>— Drew (@FigDrewton) <a href="https://twitter.com/FigDrewton/status/649187906041577472">September 30, 2015</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
<blockquote class="twitter-tweet" lang="en"><p lang="und" dir="ltr">.<a href="https://twitter.com/realDonaldTrump">@realDonaldTrump</a> <a href="http://t.co/885nADHhPj">pic.twitter.com/885nADHhPj</a></p>— Drew (@FigDrewton) <a href="https://twitter.com/FigDrewton/status/649187906041577472">September 30, 2015</a></blockquote>
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Yes it was. First of all, it wasn't a pay parking zone........and it was right in front of my house. It was the one day a month they do "street cleaning". When I got the ticket, it had the fine, which was $18, and then it listed all of these ambiguously named fees. I called the local police to ask what they were for, and he informs me that they are state mandated, and they fund various state programs.Had I not studied the ticket, I just would have assumed the borough got it all, which wouldn't surprise me either. See , I was funding state gov't programs without knowing it........hidden taxes.
And the street sweeper never saw my street that day. I fought the ******* thing, and won. **** you Dormont Borough. I piss in your pool.
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Trumps tax plan would drive interest rates thru the roof. The Chinese would not fund that amount of debt and they likely can't
afford too any longer.
afford too any longer.
Trump is going to get the union votes. That's huuuuuuuuuuuuuge! btw, **** unions.
http://conservativeintel.com/2015/10/01/tumpleadingasteamsterswantmeeting/
http://conservativeintel.com/2015/10/01/tumpleadingasteamsterswantmeeting/
Which Trump am I getting? Is it the one talking about reasonable tax codes, universal health care, a whole fuckload of pro-worker moves to choke the Chinese stranglehold on manufacturing, immigration reform, etc etc? Cause I generally skew pretty socially liberal but all that dude and I overlap on a lot of these issues.
I kinda do think that you can blame whatever you want for the "downfall of this nation™" but losing 2+ generations of middle class manufacturing jobs would be near the top of the list.
I kinda do think that you can blame whatever you want for the "downfall of this nation™" but losing 2+ generations of middle class manufacturing jobs would be near the top of the list.
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