Trump seeks tax windfall for business

[sggatecl]

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".

http://www.bbc.com/news/world-us-canada-39721344

MMmmm...I can almost feel that trickle down now.

 

[biggunsbob]

http://www.bbc.com/news/world-us-canada-39721344

MMmmm...I can almost feel that trickle down now.

Me too lol. Not sure some parts of it are even legal but the corporate slave owners have to be so happy with the start of Trump era.

 

[Thumb]

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.

 

[biggunsbob]

4 ways the Trump family will benefit from the new tax plan.

http://m.motherjones.com/politics/2017/04/trumps-tax-plan-will-make-trump-richer

 

[biggunsbob]

Tax plan that turns all of American into what Shit ass Sam Brownback did to Kansas .


http://www.slate.com/blogs/moneybox...lan_would_turn_the_whole_u_s_into_kansas.html

 

[Michchamp]

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]

http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24

 

[Michchamp]

http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24

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.

 

[tomdalton22]

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.

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]

http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24

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!

 

[tomdalton22]

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!

is it logical for people that pay nothing in get "returns"?

 

[tinselwolverine]

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!

A Modest Proposal

 

[Michchamp]

is it logical for people that pay nothing in get "returns"?

You've heard of the EIC, sometimes referred to as the EITC, right?

 

[Michchamp]

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.

 

[Polish-Hammer]

is it logical for people that pay nothing in get "returns"?

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]

A Modest Proposal

While Swift meant this as a satire for English treatment of the Irish I agree with a literal interpretation. Hate kids to begin with, not to mention this forsaken planet is overpopulated with these things called humans. A win/win in my book. Cook all the babies!

 

[tomdalton22]

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.

actually, the original intent was to fund the civil war

 

[byco42]

actually, the original intent was to fund the civil war

Income tax actually goes back to the Romans, as long as we are being obtuse.

 

[tomdalton22]

Income tax actually goes back to the Romans, as long as we are being obtuse.

well, since we were talking about income tax in the united states, the Romans are irrelevant. If I were Warden Norton, you would get 2 weeks in the hole!

https://www.youtube.com/watch?v=kKdUsJU-cQ0

 

[Michchamp]

Come on guys you can argue politics all you like, but don't be obtuse.