(12-21-2017 08:04 AM)Owl 69/70/75 Wrote:  Interesting perspective from Germany. If this happens, and I think it will, and in other countries too, then tax reform will be a success.

http://www.zew.de/en/presse/pressearchiv...46de2fb167

I find it particularly that Germans seem to understand what the American left can't grasp in their zeal to complain about "tax cuts for the wealthy."

read this yesterday.....

they're next in line boarding the Trump train.....

how ya likin' ol' boy now.... (you know I gotta rib ya)

#protecttheUSD

(12-21-2017 08:19 AM)DefCONNOne Wrote:  

(12-20-2017 01:37 PM)UofMstateU Wrote:  

(12-20-2017 01:12 PM)Owl 69/70/75 Wrote:  Remember the Bowles-Simpson and Domenici-Rivlin commissions that were formed to find ways to reduce or eliminate the budget deficit? Go back and look at their tax proposals. Compare them to this tax bill. Basically, the difference is that this tax bill keeps more itemized deductions than they did, and the individual rates for high incomes are not reduced nearly as much. And that was their idea of how to INCREASE revenues in order to DECREASE the budget deficit.

I still wish republicans had passed Bismarck health care and a universal basic income and either Bowles-Simpson or Domenici-Rivlin as soon as they regained control of the house in 2011. That would have shaped the debate very differently in the last few years. But they didn't. And until they wake up, I think we are in deep kimchee.

I wouldnt mind having a new thread started in the new forum on this. I would like to see us get to a consumption based tax. I do believe we would have to edge into it over time as to not severely impact certain people near retirement who, after paying federal payroll taxes their entire lives, then get hit with a consumption tax in retirement.

I hate to shatter your new fiscally liberal worldview, but a consumption tax will hit people in retirement. A consumption tax is not in any way a payroll tax, so you'll be hitting the pocketbooks of the very people you're trying to exempt from the CT. You should've figured that out when you got Fit, who's never seen a tax he didn't like, on board.

I completely disagree......most retirees on a fixed income will simply purchase less....they're not the horsepower that moves the wheels....they're the burden....

President Trump on Friday signed his first major legislative triumph – a $1.5 trillion tax overhaul expected to trigger tax cuts for most Americans next year – as well as a temporary spending bill that keeps the government running through mid-January.

(12-22-2017 11:32 AM)UofMstateU Wrote:  President Trump on Friday signed his first major legislative triumph – a $1.5 trillion tax overhaul expected to trigger tax cuts for most Americans next year – as well as a temporary spending bill that keeps the government running through mid-January.

MAGA!!!!


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