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Trump seeks tax windfall for business

sggatecl

sggatecl

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The Trump administration has proposed slashing the rate of corporation tax with the aim of spurring economic growth, the Treasury Secretary said.

Steven Mnuchin unveiled President Trump's blueprint, which aims to cut the business tax rate from 35% to 15%.

Economists say the policy would add trillions of dollars to the deficit over the next decade.

But Mr Mnuchin said the tax plan would pay for itself "through growth, through deductions and closing loopholes".
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http://www.bbc.com/news/world-us-canada-39721344

MMmmm...I can almost feel that trickle down now.
 
This is why I hate the GOP.

All the arguments about giving the rich, and or corporate tax breaks and saying it will help stimulate the middle class and create jobs is horseshit.

The jobs that are gone are not coming back (sorry to burst your bubble tigermud) no matter what Trump says. Doing this wont spur the economy either except for big ticket items that the corporate officers/board of directors will buy with their new higher salaries which will be as a result of paying less tax and having more money for themselves.

Now I want to hear from all the GOP Congressmen and Senators about how Trump is ruining the future our children will inherit like they did with Obama.
 
the idea that tax cuts spur growth is nonsense & has been thoroughly debunked.

But anyone who still thinks Trump gives a shit about creating jobs is a fool.
 
tomdalton22 said:
http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
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oooh, great headline. you probably got a big hard on when you read it.

stories like this are misleading because they ignore all the other taxes lower income people pay (sales tax, real estate tax, gas taxes, etc) some of which will now have to be raised to cover the decline in federal income taxes, and hole in state and federal budgets, meaning a federal tax cut moves the burden further to the poor, the very people less able to bear it.
 
michchamp said:
oooh, great headline. you probably got a big hard on when you read it.

stories like this are misleading because they ignore all the other taxes lower income people pay (sales tax, real estate tax, gas taxes, etc) some of which will now have to be raised to cover the decline in federal income taxes, and hole in state and federal budgets, meaning a federal tax cut moves the burden further to the poor, the very people less able to bear it.
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we all pay those taxes and they are in proportion to the amount we own or use. 45% of Americans don't pay, and many get a "return" without putting in a dime. That is just as wrong as lowering corporate taxes.
 
Polish-Hammer said:
You are right. Those damn retired seniors and poor are certainly not pulling their weight.

I have quick solution. We kill all the poor and anyone who retired from work. There is a tax system to fix, we can't wait for any logical solution!
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is it logical for people that pay nothing in get "returns"?
 
this is pretty great too... if there's one thing we need more of in this era of declining oil prices amidst an oversupply... it's more oil.

if our public lands can't all be gutted for private profit, it's communism. and we all saw what happened with that.
 
tomdalton22 said:
is it logical for people that pay nothing in get "returns"?
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Alas that is the goal of a socialist state. You don't rob the poor to help the wealthy. :nod:

There are these amazing things in the US tax code called exemptions and deductions which decrease the amount of taxible income. Exemptions are a primary reason why low income families would have their federal income tax come down to 0. Kids are a very common example.

That does not mean they don't pay any state income tax, medicaid, or any other withholdings from the government.

Just as a reminder, the original intent of income tax in the United States was to increase revenue coming from the super rich. Ie. not the common man and especially not the poor.
 
Polish-Hammer said:
Alas that is the goal of a socialist state. You don't rob the poor to help the wealthy. :nod:

There are these amazing things in the US tax code called exemptions and deductions which decrease the amount of taxible income. Exemptions are a primary reason why low income families would have their federal income tax come down to 0. Kids are a very common example.

That does not mean they don't pay any state income tax, medicaid, or any other withholdings from the government.

Just as a reminder, the original intent of income tax in the United States was to increase revenue coming from the super rich. Ie. not the common man and especially not the poor.
Click to expand...

actually, the original intent was to fund the civil war
 
Come on guys you can argue politics all you like, but don't be obtuse.
 
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