Republican Tax Plan
- Thread starter uncboy10
- Start date
This tax plan is an abomination. Republicans are counting on trump to suck up all the attention while they try to push this garbage through congress.
Tax plans like these are the reason why corporations and wealthy individuals contribute massive sums of money to politicians. Because they will eventually get a return on that investment, and here it is.
Lets just hope it doesn't pass.
Tax plans like these are the reason why corporations and wealthy individuals contribute massive sums of money to politicians. Because they will eventually get a return on that investment, and here it is.
Lets just hope it doesn't pass.
I'm sure Paul Ryan is pimping this to every middle class American as some life-saving legislation that will start paving their road with gold.
I guess we're fortunate to at least have access to these kinds of exchanges to 1) contact our congressperson, if we disagree with it (or agree and 2) get to see first-hand just how bought-off and owned our oligarchy truly is. When I see shit like this, I think "And people are pissed because football players kneel to call attention to, and protest indiscretions that are happening in our country... WHY aren't they kneeling with them?"
Very stupid questions and even more stupid answers.
His answer should have been: all individual payers standard deductions will double and child tax credits will increase. That will make in unnecessary for a teacher to deduct on their taxes buying pencils etc. They will get more net tax relief and spend less time filling out schedule A, etc. and not have to bother with stupid itemizations at all. It will put tax attorneys and high priced accountants like those serving in congress out of business.
His answer should have been: all individual payers standard deductions will double and child tax credits will increase. That will make in unnecessary for a teacher to deduct on their taxes buying pencils etc. They will get more net tax relief and spend less time filling out schedule A, etc. and not have to bother with stupid itemizations at all. It will put tax attorneys and high priced accountants like those serving in congress out of business.
This tax plan is an abomination. Something as important as tax reform shouldn’t be rushed to score a political win. I felt the same for ACA as well.
Just what about it is an abomination? What is your proposal to make it better?
Please. This tax plan screws working class people. Funny how you don't mention the fact that it does away with state and local income tax deductions which more than offset the increase in individual deductions. Nearly half of the country doesn't even pay any federal income tax, so they will only get screwed by this plan. Of course republicans are counting on Americans to not do any basic fact checking like usual...
This plan blows a massive hole in the deficit by giving massive tax breaks to the wealthiest 1% of 1% and ridiculous tax breaks and write offs for businesses. The entire plan is absurdly stupid. Including write offs for American company's expenses when moving jobs to china, Mexico etc. Its hilarious that Trump supporters still think he cares about American jobs.
The vast majority of the cuts will go to large corporations. Trickle down economics is the dumbest economic theory ever created. The employees of those companies will never see a dime of that money.
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It does not blow a hold in the deficit in the long term. You are another liberal that does not understand the economics 101 law of diminishing returns. You also buy into the liberal class warfare. The liberals plan tax and spend plan is even more stupid and is proven not to work (see Obama's record doubling of the debt).
here's the bottom line for the crybaby never-Trumpers: we had to suck it up and endure 2 years of Socialism-lite and the introduction of the Obamacare disaster - y'all can now do the same. Enjoy!
Lol.
Bush grew the debt more than any president before him. And he wrecked the economy and drove us into a recession, and multiple wars in the process. Clinton had balanced the budget before that. You're welcome to try and pretend like liberals don't understand economics, but it won't take long to disprove that idiotic claim.
Funny how you also don't mention that Obama had to start with Bush's budget for the first fiscal year. You don't mention that we still had to fight those wars he got us into, or that we still had decreased federal tax receipts from the tax cuts given by the Bush administration's tax plan. That plan's cuts were very similar to this one. It drove us into a recession, which we needed the liberal Obama administration to dig us out of. Now the trumpers pretend that never happened, and simultaneously try to take credit for the economic growth achieved under the Obama administration. All while claiming that liberals don't understand economics. At least its good for a laugh...
BUSH??? you seriously pulled the 'it's Bush's Fault' card?? what year is it? Pathetic.
You don't even know what socialism is (obviously). Wtf are you talking about? You want to call people crybabies, while simultaneously whining about non-existent grievances? Go right ahead.
You should really try working on your reading comprehension. We were discussing the Obama administration. The Bush administration was the one that came before that. Do we need to get you a history book?
Oh I'm sorry. Did he not achieve record setting job growth? And I could've sworn we were in a recession in 2008?....
This graph clearly shows the consistent economic growth under Obama's administration. It also shows the tail end of the effects on Bush's tax plan before the Obama administration reversed those trends.
https://obamawhitehouse.archives.go...ives.gov/files/chart1_GDP_gdpandgdogrowth.png
There is so much BS in the above it is no wonder you buy into the class warfare of your liberal heroes. WE had record tax receipts in 2004 after the tax cuts of 2001. Also, tell me, what was Obama's budget? That's right, he NEVER had one, so please do not preach about liberal physcal responsibility.
The Community Reinvestment act the Jimmy Carter started was the genesis of the real estate bubble collapse which caused the 2008 recession, not tax cuts ,duh.
Lol is expecting corporations and top level earners to pay their fair share of taxes class warfare? I think class warfare would be giving those corporations and top earners tax cuts which give them even more of a leg up on working class individuals. Protecting their interests over the interests of millions of working class people is "class warfare" too right? Or does it only count if its working class people trying to improve their circumstances?
Do you really want to bring up the budget's under Obama? Knowing full well that the Republican congress blocked every single piece of legislation he backed? Are we just going to just ignore basic details of history?
*Fiscal. Please do not preach about anything related to economics when you can't even spell the basic terms.
If you are a fan of this tax plan, then nothing I say will change your mind.
Personally, it’s time to consider the following:
Corporate tax of 0-5% with restrictions on executive pay for public companies (not private). Some kind of multiplier that correlates to lowest vs highest paid employee. Also end Super PACS.
Consumption tax for everyone else.
Nobody mind is going to change in this thread, so that is kind of a cop out answer.
Actually, the only tax plan I am in favor of is the complete repeal of the 17th amendment, THEN a consumption tax with credits for those under a certain low income level. This will never happen, so the GOP plan is fine with me for now. If we repeal 17th amendment, corporate taxes would have to be higher than 5%
No agreement of any kind of income caps for anyone, inducing CEO's, move star's, athletes ,etc . That's socialism.
I could agree to end super PAC's if we also agree to end public sector unions and union contributions to political parties and candidates as well.
I've been making a point not to use insults in this discussion. But if you want to argue like a fukkin idiot then go right ahead.
The GDP grew under Obama's presidency. That's a fact.
Bush's tax plan was extremely similar to this one and it was a nightmare. If you don't think the Bush administration and its budget was relevant to the deficit once Obama took over then you are a complete idiot that doesn't understand anything about how government works. Louigi brought up the debt under Obama. If you have a problem with discussing previous administrations then take it up with him. I get that its hard for you to maintain the belief that Obama was a kenyan socialist dictator, but do try to keep up with the basic facts of history...
Its honestly not surprising that you think of politics like pro wrestling. That's right on your intellectual level.
No. It is not. Socialism is laborers owning the means and modes of production (capital). Claiming that socialism has anything to do with wages, when it is an economic system with the expressed goal of eliminating wages all together just shows you don't have a damn clue what socialism actually is.
Why? You don't have to misrepresent another system just to disparage it...
Understanding what socialism actually is, and not repeatedly using the word socialism where it doesn't belong, should only strengthen your arguments.
My fault. I meant to say 16th amendment. I lump 16th and 17th amendment together because both combined have led to 20 trillion in debt.
Makes more sense. A consumption tax would drive a lot of revenue. And the idea behind capping executive pay is to ensure all the monies saved from corporate taxes goes back to the worker/wage and not concentrated in C-Level stock options. I’m not warm and fuzzy with the idea of capping pay, thus why I say limit it to public companies. There has to be some kind of way to shrink the wage gap a bit. It’s eroding the middle class.
I’d also propose we do away totally with minimum wages. MW’s allow companies to collude and set an artificial floor. Taking it away creates competition in wages.
Not bad ideas. Although, I still don't like pay caps of any kind. I understand some executive have ridiculous compensation packages, but so do athletes, coaches, college professors, etc.
Like I said, not warm and fuzzy on the idea but it’s really out of hand. I’m open to other ideas as well.
Not a bad graph but not sure why those three indexes were chosen to compare against. Worker pay has been stagnant mainly because of technology. If CEO pay includes stock value increase, then it is not a real comparison. IE: Figures lie and liars figure. In the end, I could give a rats ass what a CEO makes because it is not a zero sum game.Like I said, not warm and fuzzy on the idea but it’s really out of hand. I’m open to other ideas as well.
It’s not just the CEO. Executive pay relative to everyone else is just out of control.
Maybe so, but the term "control" matters greatly on who "controls" it. Right now it is stockholders. I would much rather they control it vs. government
I disagree. There are plenty of activist investors now as well as mutual funds that have big says on who is on the boards and will disrupt things if too out of hand.
That is your opinion, which I respectfully disagree. Plus there are higher priorities in America than this.
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