Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White House…

Donald Trump has been in the spotlight lately and most of it has been good news. Sure, he offended Libs with his remarks on immigration and ruffled a few feathers with his remarks on John McCain but he’s still leading the pack in basically every poll.

What we haven’t heard much about are some of his remarkable stances on important issues such as taxes.

In his 2011 book, “Time to Get Tough: Making America #1 Again,” Trump lays out his plan to completely transform America’s tax code. It’s simple but brilliant!

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Donald Trump?s Tax Plan Is So Good It Could Take Him All The Way To The White House...

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

wow. he just took the fight right to anyone on that one.
no way you can poke holes in that at all.

I am sure liberals will cry that the wealthy aren't paying their fair share but that is just normal for them.
there needs to be a bit more details put into but it is nice to see that trump is breaking out into other area's.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

So what's he going to do about the tax code itself? Only Congress can change it, and with Boehner and McConnell in charge, you can forget it!

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

WCH said:

Donald Trump has been in the spotlight lately and most of it has been good news. Sure, he offended Libs with his remarks on immigration and ruffled a few feathers with his remarks on John McCain but he’s still leading the pack in basically every poll.

What we haven’t heard much about are some of his remarkable stances on important issues such as taxes.

In his 2011 book, “Time to Get Tough: Making America #1 Again,” Trump lays out his plan to completely transform America’s tax code. It’s simple but brilliant!

snip

Donald Trump?s Tax Plan Is So Good It Could Take Him All The Way To The White House...

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Agreed with others, he would need a complicit 115th Congress for that to happen.

The real issue is Congress has become very used to the idea of using the tax code to encourage people and business to take one action or another. To simplify the tax code to either Trump's plan, or some other graduated plan, or even fair or flat tax plans would remove that area of governance. I am more than agreeing that type of governance should be taken away, but Congress generally feels otherwise.

It explains well why Congress generally runs on tax breaks and not tax code simplification. It also explains well why when campaigning is over Congress generally modifies old tax provisions as a means to further guide the motivation of forcing action instead of flat out removing large bulks of old tax code. Even if it means conflicting regulations enforcement for the IRS to sort out, we usually see round after round of tax code changes and additions based on the notion of breaks and motivations for certain conditions to be exploited.

In this case Trump is laying out a plan that sounds good during a Campaign, but without careful analysis in conjunction with present spending levels the unknown is effect on deficit conditions.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

Guessing Trump has an phone and a pen also.

If Trump were to become our next POTUS, IMO, it would be a referendum against the status quo. I could only hope that Congress would fall in line.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

The POTUS can accomplish his "starve the beast" budgeting only by getting our congress critters to agree to it (by passing a budget). We currently collect less in revenue than we spend at the federal level and the national debt "ceiling" (actually the debt floor?) is raised on a routine basis.

Better to leave taxation (at least gross revenue) as it is, and reduce spending, until the national debt is paid off and a reasonable plan to fund "entitlements" (and other mandatory spending) is agreed upon.

First deal with the federal spending problem and then worry about how to "reform" the tax code. Reforming the federal tax code to supply $X/year in revenue is only a good idea if you first get the government (our congress critters) to agree spend only $X/year (or slightly less).

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

from the OP's link

Trump declared, “I fight like hell to pay as little as possible, for two reasons. Number one, I am a businessman, and that’s the way you are supposed to do it. And you put the money back in your company and employees and all of that.”

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The bolded words are the big lie that far too many obviously believe for some strange ideological reasons. Money going "back in your company" wouldn't be taxed in most instances. American corporations are sitting on huge piles of cash at this time while their CEOs receive larger and larger pay cheques but most employees are not seeing the same percentage increase.

Supporting Donald Trump as a rational candidate is simply bizarre when one looks at the real world. His tax plan in combination with the conservative ideology would be just another step towards enshrining the oligarchy that has basically taken control in America - Study: US is an oligarchy, not a democracy

Americans should just accept their fate. Perhaps we ought to suck it up, admit we have a classist society and do like England where they have a House of Lords and a House of Commons, instead of pretending as though we all have some kind of equal opportunity here.

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Perhaps it's because most Americans have no concept in regards to the gap between what they receive and the compensation doled out to the 0.1%

The pay gap between CEOs and workers is much worse than you realize

Americans might think they know how bad inequality is, but it turns out they actually have no idea.

A new study conducted at Harvard Business School found that Americans believe CEOs make roughly 30 times what the average worker makes in the U.S., when in actuality they are making more than 350 times the average worker. "Americans drastically underestimated the gap in actual incomes between CEOs and unskilled workers," the study says.

But that underestimation isn't merely drastic—it is also unmatched in the world. The gap between Americans' perception and reality is the most among any of the 16 countries for which the researchers measured both the perceived and actual pay inequality.

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Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

ttwtt78640 said:

The POTUS can accomplish his "starve the beast" budgeting only by getting our congress critters to agree to it (by passing a budget). We currently collect less in revenue than we spend at the federal level and the national debt "ceiling" (actually the debt floor?) is raised on a routine basis.

Better to leave taxation (at least gross revenue) as it is, and reduce spending, until the national debt is paid off and a reasonable plan to fund "entitlements" (and other mandatory spending) is agreed upon.

First deal with the federal spending problem and then worry about how to "reform" the tax code. Reforming the federal tax code to supply $X/year in revenue is only a good idea if you first get the government (our congress critters) to agree spend only $X/year (or slightly less).

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I would like to see some kind of report like the CBO puts out to compare the revenue numbers to this plan compared to what we took in last year.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

azgreg said:

I would like to see some kind of report like the CBO puts out to compare the revenue numbers to this plan compared to what we took in last year.

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Trump knows that it would be significantly less - thus the stated need to reduce federal "fraud and waste". Talking in only general terms about the required federal spending cuts while being specific about the desired federal revenue reductions is extremely dishonest.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

WCH said:

Donald Trump has been in the spotlight lately and most of it has been good news. Sure, he offended Libs with his remarks on immigration and ruffled a few feathers with his remarks on John McCain but he’s still leading the pack in basically every poll.

What we haven’t heard much about are some of his remarkable stances on important issues such as taxes.

In his 2011 book, “Time to Get Tough: Making America #1 Again,” Trump lays out his plan to completely transform America’s tax code. It’s simple but brilliant!

snip

Donald Trump?s Tax Plan Is So Good It Could Take Him All The Way To The White House...

Click to expand...

Depends what the definition of income is, doesn't it? The reason we don't simplify the tax code is because many millions of jobs depend upon its complicated maze of regulations AND, more importantly, it allows the morons in Washington and in state legislatures, to peddle their influence to the highest bidder.

Donald Trump's solution. The article doesn't talk about how the revenue derived from that method compares with current revenue. That would be interesting to know. The Federal gvmt is certainly not going to take a haircut.

Personally, I love it. What do you think the 47% of filers who pay NO income tax right now will think?

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

This is just another "cut taxes and growth will make up for it" argument. This is something that hasn't been shown to work in practice, both here in America and in European economies.

People with an income over $1 million pay 34.6% on average now, how will cutting taxes in half help anything except our growing national debt?

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

ttwtt78640 said:

Trump knows that it would be significantly less - thus the stated need to reduce federal "fraud and waste". Talking in only general terms about the required federal spending cuts while being specific about the desired federal revenue reductions is extremely dishonest.

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Precisely. Public Evidence #1,498 that Trump is not actually a serious candidate.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

Tsunami said:

This is just another "cut taxes and growth will make up for it" argument. This is something that hasn't been shown to work in practice, both here in America and in European economies.

People with an income over $1 million pay 34.6% on average now, how will cutting taxes in half help anything except our growing national debt?

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Over time that claim is accurate. The problem is, it's over time, and depending on how much you cut, and where you are starting from, it can be over a little time, or over a lot of time.

The best savings ROI right now is probably not to be made in nominal rates for individual income (perhaps for corporate), but rather in tax code complexity.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

Well, I saw nothing about capital gains, corporate tax or deductions...but I like it otherwise.

All I would change would be to make capital gains tax rates the same as income tax rates, end corporate tax and end deductions except charitable contributions.

If that does not raise enough taxes, then tweak the rates a bit higher...but not much.

But, from what I saw of it - I think he is on the right track.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

ttwtt78640 said:

Trump knows that it would be significantly less - thus the stated need to reduce federal "fraud and waste". Talking in only general terms about the required federal spending cuts while being specific about the desired federal revenue reductions is extremely dishonest.

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I still would like to see the numbers side by side.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

MaggieD said:

Depends what the definition of income is, doesn't it? The reason we don't simplify the tax code is because many millions of jobs depend upon its complicated maze of regulations AND, more importantly, it allows the morons in Washington and in state legislatures, to peddle their influence to the highest bidder.

Donald Trump's solution. The article doesn't talk about how the revenue derived from that method compares with current revenue. That would be interesting to know. The Federal gvmt is certainly not going to take a haircut.

Personally, I love it. What do you think the 47% of filers who pay NO income tax right now will think?

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If the taxes are lowered for invidivuals, they will use that money to spur the economy and increase the tax base.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

Tsunami said:

This is just another "cut taxes and growth will make up for it" argument. This is something that hasn't been shown to work in practice, both here in America and in European economies.

People with an income over $1 million pay 34.6% on average now, how will cutting taxes in half help anything except our growing national debt?

Click to expand...

Maybe the rich will raise wages or invest in new ventures? It will take cooperation from everyone involved.

Re: Donald Trump’s Tax Plan Is So Good It Could Take Him All The Way To The White Hou

MaggieD said:

Personally, I love it. What do you think the 47% of filers who pay NO income tax right now will think?

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I have always said that ALL Americans who earn dollar one on up should pay income tax to give them skin in the game. My figure would be 5% and not the 1% Trump has named.

And as far as what is income goes - it should be all money going into a persons pocket or account regardless of the source. We can make an exception for normal holiday gifts within reason.