jump to last post 1-1 of 1 discussions (18 posts)

How Do You Feel About Donald Trump's Tax Plan

  1. Sychophantastic profile image82
    Sychophantasticposted 4 months ago

    His plan streamlines the system so that there are only 3 brackets. The lower bracket pays 12%. The middle bracket pays 25%. The upper bracket pays 33%.

    If you're in the lower bracket, that's an increase from 10%.

    If you're in the middle bracket, that's an increase from 20%.

    If you're in the upper bracket, that's a decrease from 38%.

    Do you support or oppose this plan?

    1. gmwilliams profile image85
      gmwilliamsposted 4 months ago in reply to this

      What you have presented is the reason that Hillary Clinton will WIN in November.   She is more equitable towards the middle class & poor as opposed to Trump.

    2. wilderness profile image96
      wildernessposted 4 months ago in reply to this

      Brackets don't mean much when it isn't paid anyway.  Top bracket in the 50's, I think, was in the 90% area but nobody paid it so it was a moot point.  Actually monies paid are more now than back then.

      So what are the deductions and so-called loopholes?  That's what counts far more.

      1. Sychophantastic profile image82
        Sychophantasticposted 4 months ago in reply to this

        This was all part of his economic plan:

        1. The elimination of special tax treatment for carried-interest income at private-equity firms and other investment firms.
        2. Reduction of business taxes from 35% to 15%.
        3. Eliminate the estate tax.
        4. Make child care costs fully tax deductible.
        5. A moratorium on all new regulation.
        6. Renegotiate NAFTA.
        7. Invest a "substantial" amount on infrastructure.

        1. wilderness profile image96
          wildernessposted 4 months ago in reply to this

          #1 and eliminates a deduction, but #4 adds one.  Is that all?  The thousands of other deductions for business will remain?  Not those directly connected with business - R&D, electric bills, etc., but all those that simply save taxes for doing what govt. thinks should be done?  That's the problem, IMO, with our taxes - not what rates are paid.

          Business taxes - I've always had a hard time understanding why a business must pay taxes on profits, then the owners pay again when they get whatever is left.  Never made sense to me - I don't pay federal income taxes twice on what I earn - why should business owners?

          1. Sychophantastic profile image82
            Sychophantasticposted 4 months ago in reply to this

            Well, #1 and #4 don't apply to the same people. I would imagine there was more to the plan. I think these were the highlights.

            1. wilderness profile image96
              wildernessposted 4 months ago in reply to this

              No, they don't apply to the same people, but don't know how that's important anyway.  Except to hit the wealthy for an even greater percentage of our tax base than they are already paying, anyway.

              Not familiar with #1, but could support all the others, I think.

              1. Sychophantastic profile image82
                Sychophantasticposted 4 months ago in reply to this

                Both #1 and #4 are tax cuts that benefit wealthier people.

                1. wilderness profile image96
                  wildernessposted 4 months ago in reply to this

                  But being wealthy does not mean that "we the people" have an innate right to what they earn.  I know that that's not what the socialists of the liberal left want to hear, but it's true. 

                  If Joe Blow gets a complete deduction for child care so that he can work, so does everyone else.  It's really that simple.

                  1. Sychophantastic profile image82
                    Sychophantasticposted 4 months ago in reply to this

                    Not sure what your point is. I didn't qualify the tax cut. Joe Blow can't afford childcare. It's a benefit for the wealthy. At one time, my childcare bill was 36k/year. It's a great tax cut if you can afford that or if you have a nanny.

    3. rhamson profile image76
      rhamsonposted 4 months ago in reply to this

      More of the same on steroids. Trickle down on its' own never worked. The wars are what make it work. Hillary is no better as she will jump the rates and still get us in some new wars. War is our most valuable business and the politicians know it. We are headed this way with either of them.

 
working