Trump’s Laughable Plan to Cut His Own Taxes

Cosmo · Apr 28, 2017

As a rule, Republican presidents like offering tax cuts, and President Trump is no different. But the skimpy one-page tax proposal his administration released on Wednesday is, by any historical standard, a laughable stunt by a gang of plutocrats looking to enrich themselves at the expense of the country’s future.

The proposal was so empty of illustrative detail that few people could even begin to calculate its impact on their pocketbooks. Further, depending on where they live, some middle-class families might not benefit much or at all, because the plan does away with important deductions like those for state and local taxes.

https://www.nytimes.com/2017/04/26/opinion/trumps-laughable-plan-to-cut-his-own-taxes.html?_r=0

tecoyah · Apr 28, 2017

Aufgeblassen said:
The HUGE difference is a GOP House and GOP Senate! - hello?!

...uh....sure. That certainly made a huge difference with healthcare, the border wall, banning Muslims...etc.

tecoyah · Apr 28, 2017

Aufgeblassen said:
There has NEVER been a ban, nor is one now, nor will there EVER be one in the future, as it is TOTALLY unconstitutional - hello?!

And yet....he promised it as he did for many, many things that he then decided were not what he said of taken out of context even when repeated often and on tape.

We call that lying.

Cosmo · Apr 28, 2017

Aufgeblassen said:
He is looking to cut EVERYBODY'S taxes (like Reagan). Since he is "one of us", then sure, his could be cut too. I would certainly would NOT want him to NOT cut taxes, so he doesn't get a break too! - hello?!

Trickle-down economics, the misguided theory that has controlled Republican economic policymaking for more than three decades, is built on the idea that high levels of economic inequality are good.

Tax cuts for the rich and less regulation of business supposedly provide incentives for the wealthy to invest and work more. Enabling "job creators" to get richer helps us all, the theory goes. So the fact that the top 1 percent now take home a greater share of the nation's income than they ever have, while incomes for the typical household are lower than they were in 1989, is not a problem in this way of thinking. In the trickle-down mindset, these facts are seen as good for the economy.

Cosmo · Apr 29, 2017

Aufgeblassen said:
Cutting taxes BOOSTED the economy under Kennedy and under Reagan. No reason to "think" it won't work now!!! Especially the sluggish growth we have, and have had under stifling superfluous and capricious regulations enacted under Obama!

There was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before and the poverty rate had actually risen.

tecoyah · Apr 29, 2017

Cosmo said:
There was a boom in the mid-1980s, as the economy recovered from a severe recession. But while the rich got much richer, there was little sustained economic improvement for most Americans. By the late 1980s, middle-class incomes were barely higher than they had been a decade before and the poverty rate had actually risen.

Trickle down is now PROVEN to be an invalid concept, primarily due to the tendency of those who truly gain deciding to put a stopper in any trickle in order to keep the profit for themselves. Over time (decades) this creates the situation we have today...richer rich folks and poorer poor folks with the people it is supposed to work for instead paying for the system to continue.

tecoyah · Apr 30, 2017

Aufgeblassen said:
When business have extra money, they don't just sit on it! They reinvest in the business to expand to make even better profits, increasing employment at the same time!

Perhaps...more people in the middle who make too little and pay too much. As I stated....the system is perpetuated.

tecoyah · Apr 30, 2017

Aufgeblassen said:
If the middle class is shrinking, is because they are getting richer!

I used to be middle class. :showoff: But instead of blowing/wasting my entire paycheck with nothing to show for it come retirement time, instead I invested at my company's maximum matched amount of 16% into my 401K every single paycheck, and the account grew like gangbusters.

Good for you, you are the exception apparently because the middle class has indeed become smaller while poverty increased. Of course the rich increased as well....that is what I have been saying even if you do not understand it.

tecoyah · Apr 30, 2017

Aufgeblassen said:
Actually the poverty rate has been very flat for a long, long time, so middle class shrinkage (if even real) has to mean the rich are INCREASING. No place else for them to go!

"Last fall the U.S. Census Bureau released its annual report on poverty in the United States. The report indicated that the number of people below the official poverty line had risen from 32.9 million in 2001 to 34.6 million in 2002. Worse, the official poverty rate had risen from 11.7 percent in 2001 to 12.1 percent the following year."

https://fee.org/articles/whats-wron...Wj_YQg61xui51A4Kjsp6y6FCLGMEqFtQHgRoCgB3w_wcB

Cosmo · Apr 30, 2017

Aufgeblassen said:
When business have extra money, they don't just sit on it! They reinvest in the business to expand to make even better profits, increasing employment at the same time!

While that may be good news for places like China and India, manufacturing jobs will not be returning to the U.S.

tecoyah · Apr 30, 2017

Aufgeblassen said:
The good news is high tech replacement jobs pay BETTER!!!

The bad news is the American population and infrastructure are not primed to do these jobs and there will be nowhere near the quantity of positions. The world has dramatically changed and "Manufacturing" is not a big part of it. Anyone who thinks they will change this or return to what we once were probably believes "Leave it to Beaver" was a documentary as well.

tecoyah · Apr 30, 2017

Aufgeblassen said:
I'm NOT looking back, only looking forward.

Man, since eternity, has been operating under the "learning curve". We can ONLY get better, not worse under it, IMHO!

It would seem you look forward through a peephole and have a very limited imagination concerning the future.

Cosmo · Apr 30, 2017

Aufgeblassen said:
The good news is high tech replacement jobs pay BETTER!!!

Apparently you forgot:

Apparently you don't realize how many jobs have been sent overseas or replaced with robotics.

tecoyah · Apr 30, 2017

Aufgeblassen said:
I do! But the vast majority were MENIAL jobs!

You have no Idea what you are talking about....do you?

Cosmo · Apr 30, 2017

Aufgeblassen said:
I do! But the vast majority were MENIAL jobs!

There is no guarantee those who had "menial" jobs can or will move into high-tech ones,especially under the current administration.

numan · Apr 30, 2017

Aufgeblassen said:
When business have extra money, they don't just sit on it! They reinvest in the business to expand to make even better profits, increasing employment at the same time!

What a fairy tale!
.

Cosmo · Apr 30, 2017

Aufgeblassen said:
No doubt! But current Administration has ZERO to do with progress.

You can't have it both ways.

tecoyah · May 1, 2017

Anyone who actually thinks the United States can return to a 4% growth rate does not understand world economics, technology, or for that matter markets and manufacturing. It is a great talking point but completely ignores reality.

Trump’s Laughable Plan to Cut His Own Taxes

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