Trump’s Laughable Plan to Cut His Own Taxes

Jan 2017
132
52
South Fl.
#1
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
 
Likes: 2 people
Oct 2012
3,775
614
Louisville, Ky
#3
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?! :rolleyes:
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.
 
Likes: 2 people
Jan 2017
132
52
South Fl.
#4
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?! :rolleyes:
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.
 
Likes: 2 people
Jan 2017
132
52
South Fl.
#5
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.
 
Likes: 2 people
Oct 2012
3,775
614
Louisville, Ky
#6
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.
 
Likes: 2 people
Oct 2012
3,775
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Louisville, Ky
#7
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.
 
Oct 2012
3,775
614
Louisville, Ky
#8
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.
 
Likes: 1 person
Oct 2012
3,775
614
Louisville, Ky
#9
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! :cool::cool::cool:
"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
 
Likes: 1 person
Jan 2017
132
52
South Fl.
#10
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.
 
Oct 2012
3,775
614
Louisville, Ky
#11
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.
 
Likes: 1 person
Oct 2012
3,775
614
Louisville, Ky
#18
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.