(12-20-2017 12:19 PM)Owl 69/70/75 Wrote:  The major purpose of this tax cut was to get corporate tax rates in line with the rest of the world.

I find it interesting that almost a decade ago we had two very well-informed and bipartisan task forces, Bowles-Simpson and Domenici-Rivlin, take a look at what it would take to balance the budget, and both came up with tax proposals that this law incorporates--lower corporate tax rates to world levels, lower and flatten individual income tax rates and eliminate a lot of itemized deductions--as a way to INCREASE tax revenues. This bill does not go as far. I wish it did, and I wish it included the Domenici-Rivlin proposal for a consumption tax. That was the approach determined by a bipartisan panel with more and better information than probably anybody positing on a message board, even this erudite bunch.

Isn't it funny how when you look at it an objective and nonpartisan manner, the result screams at you, but when one party tries to implement it, the other can't abandon their class warfare rhetoric long enough to look at what really needs to be done.

My approach would be simple--universal private health care using the Bismarck model (which France does for less government health care spending per capita than we do) plus a guaranteed basic income using either Milton Friedman's negative income tax or the Boortz-Linder prebate/prefund, paid for with lower and flatter and broader taxes, including a consumption tax. The poor would be better off, there would be few if any slipping through the cracks, the middle class would be better off, and the "rich" and corporations would be better off. Who would be worse off? The legion of bureaucrats who make the five US counties with the highest incomes all be in the DC Metro area. Money from Washington to the people, not from the people to Washington.

You can go two ways with the economy--make the poor richer or make the rich poorer. The left is so obsessed with their class warfare that they are perfectly happy making the poor poorer, as long as they succeed in making the rich poorer. I say let's focus instead on making the poor richer.

Sir

Will you be willing to run for president in 2020? And if so, where can I donate my impending windfall of money?

Somebody remind me, when was the last Dem tax cut?

Still waiting.......

SHOW ME THE LINK!!!

(12-20-2017 12:25 PM)Fitbud Wrote:  What about add to the deficit? Any issues with that?

Did you know that there was exactly 1 time after the founding of our country that the US debt was at 0.

Just one. I would like a slower crawling deficit, yes... but I'm not naïve enough to think that the deficit will ever be -stopped- dead in its tracks. Slowed down due to a massive cut in spending.. that works 100% for me.

Again, look at the post I put for mach.. we went from 3.1 to 3.1 to 2.7T in the increase. So when any politician promises that we're going to cut the deficit.. I have to laugh, cause we know what he should be saying...

(12-20-2017 12:20 PM)UTSAMarineVet09 Wrote:  still waiting for that link fit....

The link is in the original post.

(12-20-2017 12:34 PM)Fitbud Wrote:  

(12-20-2017 12:20 PM)UTSAMarineVet09 Wrote:  still waiting for that link fit....

The link is in the original post.

the link to the yahoo article is your proof that he stated that he would cut taxes by 35%?

(12-20-2017 12:36 PM)UTSAMarineVet09 Wrote:  

(12-20-2017 12:34 PM)Fitbud Wrote:  

(12-20-2017 12:20 PM)UTSAMarineVet09 Wrote:  still waiting for that link fit....

The link is in the original post.

the link to the yahoo article is your proof that he stated that he would cut taxes by 35%?

Fake news

Still waiting. Its sad when people post links to stories, then when asked to defend the fake news they become obtuse.

(12-20-2017 12:41 PM)UofMstateU Wrote:  Still waiting. Its sad when people post links to stories, then when asked to defend the fake news they become obtuse.

its just another fitfail, thats all

Remember when Bill Clinton said he was going to cut taxes?

(12-20-2017 12:30 PM)usmbacker Wrote:  Somebody remind me, when was the last Dem tax cut?

American Taxpayer Relief Act of 2012
Obama Signs into Law Government Funding Bill, Tax Breaks

(12-20-2017 12:49 PM)Redwingtom Wrote:  

(12-20-2017 12:30 PM)usmbacker Wrote:  Somebody remind me, when was the last Dem tax cut?

American Taxpayer Relief Act of 2012
Obama Signs into Law Government Funding Bill, Tax Breaks

Lmao. So a bill that allowed for the continuation of Bush tax cuts.

Winning Bigly. Enjoy your money and thank your President.

(12-20-2017 12:56 PM)shere khan Wrote:  

(12-20-2017 12:49 PM)Redwingtom Wrote:  

(12-20-2017 12:30 PM)usmbacker Wrote:  Somebody remind me, when was the last Dem tax cut?

American Taxpayer Relief Act of 2012
Obama Signs into Law Government Funding Bill, Tax Breaks

Lmao. So a bill that allowed for the continuation of Bush tax cuts.

Winning Bigly. Enjoy your money and thank your President.

Something by the way that is going to have to happen again if we want the Trump tax cuts to remain permanent.

(12-20-2017 01:00 PM)Fitbud Wrote:  

(12-20-2017 12:56 PM)shere khan Wrote:  

(12-20-2017 12:49 PM)Redwingtom Wrote:  

(12-20-2017 12:30 PM)usmbacker Wrote:  Somebody remind me, when was the last Dem tax cut?

American Taxpayer Relief Act of 2012
Obama Signs into Law Government Funding Bill, Tax Breaks

Lmao. So a bill that allowed for the continuation of Bush tax cuts.

Winning Bigly. Enjoy your money and thank your President.

Something by the way that is going to have to happen again if we want the Trump tax cuts to remain permanent.

In other words, a nightmare scenario for democrats.

The Bush tax cuts expired. Without the Obama bill, taxes would have gone up. Spin it all you like, Obama signed the bill which was a tax cut.

Plus, you're ignoring the 2015 tax breaks.

(12-20-2017 01:00 PM)Fitbud Wrote:  Something by the way that is going to have to happen again if we want the Trump tax cuts to remain permanent.

Yeah, but we knew that pretty much was going to have to happen again, cause the senate simply refuses to not "sunset" any tax-cuts. (Yes, my issue with Republican Senators more so than anything as of lately.)

(12-20-2017 01:02 PM)DaSaintFan Wrote:  

(12-20-2017 01:00 PM)Fitbud Wrote:  Something by the way that is going to have to happen again if we want the Trump tax cuts to remain permanent.

Yeah, but we knew that pretty much was going to have to happen again, cause the senate simply refuses to not "sunset" any tax-cuts. (Yes, my issue with Republican Senators more so than anything as of lately.)

On this we can agree.

(12-20-2017 01:00 PM)Fitbud Wrote:  

(12-20-2017 12:56 PM)shere khan Wrote:  

(12-20-2017 12:49 PM)Redwingtom Wrote:  

(12-20-2017 12:30 PM)usmbacker Wrote:  Somebody remind me, when was the last Dem tax cut?

American Taxpayer Relief Act of 2012
Obama Signs into Law Government Funding Bill, Tax Breaks

Lmao. So a bill that allowed for the continuation of Bush tax cuts.

Winning Bigly. Enjoy your money and thank your President.

Something by the way that is going to have to happen again if we want the Trump tax cuts to remain permanent.

Permanent?

Good grief dems. 2027 sunset is all you got.

Bigly

(12-20-2017 12:36 PM)UTSAMarineVet09 Wrote:  

(12-20-2017 12:34 PM)Fitbud Wrote:  

(12-20-2017 12:20 PM)UTSAMarineVet09 Wrote:  still waiting for that link fit....

The link is in the original post.

the link to the yahoo article is your proof that he stated that he would cut taxes by 35%?

Well, read the article. The 35% is not in quotes, so it doesn't claim trump said that. It was mostly likely an analysis done by someone based on trump's plan which you can find here:
https://assets.donaldjtrump.com/trump-tax-reform.pdf

Some key things in his proposal, that when analyzed likely comes close to that 35%:

Quote:The trump plan eliminates the income tax for over 73 million households.

Quote:For those Americans who will still pay the income tax, the tax rates will go from the current seven brackets to four simpler, fairer brackets that eliminate the marriage penalty and the AMT. [My edit: The top bracket would be taxed at 25% for those over $300,001]

The proposed plan still has 7 tax brackets and the top bracket for MFJ is 37% for those over $600,000.
Find your new tax brackets under the final GOP tax plan