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Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Rogue Valley

Rogue Valley

Lead or get out of the way
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Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Trumps tax plan is a gift to elites and plutocrats. More than half of the proposed tax cuts benefit only the top 5% of households.

Without Trumps tax return data, it is impossible to determine to what degree his proposed tax cuts benefit his own Trump Organization.
 
Well, you aren't going to get them. And if he, as a businessman, promotes legislation to help business and his benefits too, that only means he runs (ran?) a business that is influenced by the tax code.
 
Busted! The truth is out on why Trump ran for office. He just wanted a tax break....
No other reason to run. Just get that elusive tax reduction so once that is done he can
step down. His mission will be accomplished. Of course lets thrown in a little ditty about
his tax returns and stir that up again. Is this truly what the left thinks about the proposed
tax simplification?

Sounds like more of the "resist" stuff. That's not a good thing for the left.
 
Common Sense 1 said:
Busted! The truth is out on why Trump ran for office. He just wanted a tax break....
No other reason to run. Just get that elusive tax reduction so once that is done he can
step down. His mission will be accomplished. Of course lets thrown in a little ditty about
his tax returns and stir that up again. Is this truly what the left thinks about the proposed
tax simplification?

Sounds like more of the "resist" stuff. That's not a good thing for the left.
Click to expand...

I thought he was going to fight the elites on behalf of the working class?
 
The American people need to is this tax cut is self serving for Trump and that is what largely motivates him. In order to do that, we first need his tax information. Sadly, he has repeatedly lied about giving it to the public and shows he has no intention of ever doing so.

Because of that reality, every American should oppose this as Trump benefitting Trump. And every member of Congress should tell him they will oppose it until the proper tax information is made public.
 
We've never had a poor president. We'll never have a poor president. So I guess we can never have a tax cut that includes the rich.

That's awful convenient for those opposed to tax cuts for the rich.
 
Rogue Valley said:
Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Trumps tax plan is a gift to elites and plutocrats. More than half of the proposed tax cuts benefit only the top 5% of households.

Without Trumps tax return data, it is impossible to determine to what degree his proposed tax cuts benefit his own Trump Organization.
Click to expand...

My prediction is that this will never make it to law. Why?

Typically, the Executive Branch crafts the law, using a team of experts. The Trump Admin has no experts and is enormously incompetent taking on detail.

Even if the Trump team was able to write the thousands of pages of new tax code, they need a solid GOP in the House and Senate. I think this plan is even too radical for most Republicans and they won't stand together.

Even if the Trump team was able to write the thousands of pages of new tax code, and the GOP has a solid alliance in the House and Senate, the bill blows such a big hole in the deficit that the GOP can't pass it with reconciliation. Therefore, they need enough to withstand a Dem filibuster.
 
ecofarm said:
We've never had a poor president. We'll never have a poor president. So I guess we can never have a tax cut that includes the rich.

That's awful convenient for those opposed to tax cuts for the rich.
Click to expand...
Obama's major income when he was president was his salary of $400,000 a year. Nevertheless, he raised taxes on himself.

Other presidents who had money, put their money and assets into real blind trusts -- trust that they themselves didn't know the investments and a 3rd party trustee managed.

When there are real arguments, as opposed to BS arguments, to lower taxes on wealth, there is more credibility. There was a valid economic argument for (rich) JFK lowering top taxes from 91% to 70%. Today, there is no valid argument for lowering top rates from 39.5% to anything lower besides coddling the rich.
 
rocket88 said:
I thought he was going to fight the elites on behalf of the working class?
Click to expand...

laughing-animals-07.jpeg
 
Rogue Valley said:
Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Trumps tax plan is a gift to elites and plutocrats. More than half of the proposed tax cuts benefit only the top 5% of households.

Without Trumps tax return data, it is impossible to determine to what degree his proposed tax cuts benefit his own Trump Organization.
Click to expand...

The 2005 leaked trump tax document tells trump's voters all they need to know. trump's middle class will be happy to lose their tax deductions while the rich benefit the most under reaganomics on super steroids. While blowing a hole in the budget using Ryan's scheme of dynamic scoring .
 
ecofarm said:
We've never had a poor president. We'll never have a poor president. So I guess we can never have a tax cut that includes the rich.

That's awful convenient for those opposed to tax cuts for the rich.
Click to expand...

What? Wait what?

You don't seem to understand the argument. The argument isn't the tax cut helps President Trump. The argument is that this tax cut is obviously a bad deal for everyone else:

ceff791a77a426174540bfc1c66e8983.jpg


Redistributing income from the poor to the rich to give the superrich a million dollar pay raise without them having to work any harder is just bad policy.
 
Rogue Valley said:
Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Trumps tax plan is a gift to elites and plutocrats. More than half of the proposed tax cuts benefit only the top 5% of households.

Without Trumps tax return data, it is impossible to determine to what degree his proposed tax cuts benefit his own Trump Organization.
Click to expand...

Trump can plan whatever he wants. Ryan clearly is on the side of the deficit hawks, and I am betting he has more say on this than Trump does in the end.
 
chuckiechan said:
Well, you aren't going to get them. And if he, as a businessman, promotes legislation to help business and his benefits too, that only means he runs (ran?) a business that is influenced by the tax code.
Click to expand...

This tax proposal was crafted for three specific things that annoy Trump. The Alternative Minimum Tax, The Corporate Pass-through rate being lowered to 15%, and the estate tax. All three generate significant revenue for the government to use for schools, roads, bridges, healthcare, etc. Instead of that revenue going towards society, it will be going right into Mnuchin, Cohn, and Trump's pockets.

The top marginal rate being lowered is a minor thing, and an offshoot of affecting tax policy that benefits the perpetrator of the plan, but, those 3 nuggets of tax breaks for the super-rich, amount to intentional self-dealing.

Who could've known healthcare was so complicated? Who knows about North Korea's history with China and the lives of South Koreans? What the **** is NATO??? Trump doesn't know the answers to any of those questions, but, you can bet your ass, he was a guiding hand that sculpted the removal of the AMT, which we have proof, required him to pay roughly 25% of a past year's income. 25% is far lower than what he should be paying.. And with the removal of the AMT, it will allow people like Trump to essentially pay zero.
 
Absentglare said:
What? Wait what?

You don't seem to understand the argument. The argument isn't the tax cut helps President Trump. The argument is that this tax cut is obviously a bad deal for everyone else:
Click to expand...

No. I'm addressing the claims of "self serving/he did it to help himself".

Those claims are pathetic partisan BS. To hang a requirement that a president be poor to include the rich in tax breaks is, itself, self serving hackery.

I'm not here to argue the plan. I'm sure you can find plenty of others for that. I'm here to object to small-minded partisan crap.
 
MTAtech said:
Obama's major income when he was president was his salary of $400,000 a year. Nevertheless, he raised taxes on himself.

Other presidents who had money, put their money and assets into real blind trusts -- trust that they themselves didn't know the investments and a 3rd party trustee managed.

When there are real arguments, as opposed to BS arguments, to lower taxes on wealth, there is more credibility. There was a valid economic argument for (rich) JFK lowering top taxes from 91% to 70%. Today, there is no valid argument for lowering top rates from 39.5% to anything lower besides coddling the rich.
Click to expand...

Don't care.

Claiming a president is acting in self interest to lower taxes on the rich is BS and would be applicable to any president now or in the future.
 
ecofarm said:
No. I'm addressing the claims of "self serving/he did it to help himself".

Those claims are pathetic partisan BS. To hang a requirement that a president be poor to include the rich in tax breaks is, itself, self serving hackery.

I'm not here to argue the plan. I'm sure you can find plenty of others for that. I'm here to object to small-minded partisan crap.
Click to expand...

Yeah i don't know who you were responding to because you didn't seem to address anyone. The OP seems to be exempt from your criticism, emphasis mine:

Rogue Valley said:
Trump Wants to Give Himself a Tax Cut and Undermine the Tax Code

Trumps tax plan is a gift to elites and plutocrats. More than half of the proposed tax cuts benefit only the top 5% of households.

Without Trumps tax return data, it is impossible to determine to what degree his proposed tax cuts benefit his own Trump Organization.
Click to expand...

In particular this looks like a strawman to me: "To hang a requirement that a president be poor to include the rich in tax breaks is, itself, self serving hackery."

Who tried to construct that requirement? This is a tax cut that won't do much of anything to help our economy, it will overwhelmingly redistribute income from the poor to the rich. I think it's pretty clear that President Trump is trying to take from us to give to himself. Maybe you're good with that simply because it's inevitable that we'll have a rich president.
 
Absentglare said:
In particular this looks like a strawman to me: "To hang a requirement that a president be poor to include the rich in tax breaks is, itself, self serving hackery."

Who tried to construct that requirement? This is a tax cut that won't do much of anything to help our economy, it will overwhelmingly redistribute income from the poor to the rich. I think it's pretty clear that President Trump is trying to take from us to give to himself. Maybe you're good with that simply because it's inevitable that we'll have a rich president.
Click to expand...

Well, "benefits to Trump's organization" certainly implied a self-interest motive behind the cuts.

I've seen plenty of claims that Trump did this for his own benefit. That could (and presumably would) be an accusation against any tax cut including the rich by any president (they all have been and will all be rich). It's cheap theatrics that only a small-minded person would fall for.
 
ecofarm said:
Well, "benefits to Trump's organization" certainly implied a self-interest motive behind the cuts.

I've seen plenty of claims that Trump did this for his own benefit. That could (and presumably would) be an accusation against any tax cut including the rich by any president (they all have been and will all be rich). It's cheap theatrics that only a small-minded person would fall for.
Click to expand...

I can agree with that but the implication of the argument is that it is good for President Trump personally [and bad for the country]. If it was good for President Trump and good for the country, there would be no accusation that it helps him personally [by hurting others].

President Trump's budget proposal cut the overwhelming majority of social services. Add the AHCA support to that. This combined agenda would dramatically reduce the redistribution of income to the poor and middle classes. At the same time, he's trying to redistribute a much, much larger share of income to the superrich.

It is quite literally the direct effect of his policy proposals that he wants to cull much-needed resources for the American public to fund a pay raise for the superrich. We don't actually know if President Trump has any money, but he certainly wants to give a huge pay raise to the wealthy, people like the caricature he plays on TV, and to force the rest of us to foot the bill.
 
Absentglare said:
I can agree with that but the implication of the argument is that it is good for President Trump personally [and bad for the country]. If it was good for President Trump and good for the country, there would be no accusation that it helps him personally [by hurting others].

President Trump's budget proposal cut the overwhelming majority of social services. Add the AHCA support to that. This combined agenda would dramatically reduce the redistribution of income to the poor and middle classes. At the same time, he's trying to redistribute a much, much larger share of income to the superrich.

It is quite literally the direct effect of his policy proposals that he wants to cull much-needed resources for the American public to fund a pay raise for the superrich. We don't actually know if President Trump has any money, but he certainly wants to give a huge pay raise to the wealthy, people like the caricature he plays on TV, and to force the rest of us to foot the bill.
Click to expand...

I merely object to the pathetic notion that he did it for personal gain and not because he thinks it's best for the country. If you don't think that claim is out there, you haven't been paying attention.
 
MTAtech said:
My prediction is that this will never make it to law. Why?

Typically, the Executive Branch crafts the law, using a team of experts. The Trump Admin has no experts and is enormously incompetent taking on detail.

Even if the Trump team was able to write the thousands of pages of new tax code, they need a solid GOP in the House and Senate. I think this plan is even too radical for most Republicans and they won't stand together.

Even if the Trump team was able to write the thousands of pages of new tax code, and the GOP has a solid alliance in the House and Senate, the bill blows such a big hole in the deficit that the GOP can't pass it with reconciliation. Therefore, they need enough to withstand a Dem filibuster.
Click to expand...

Umm...the executive branch does not craft law. It enforces law. The legislative branch is the one that crafts laws. The executive branch can suggest something for the legislative to consider, but that's as far as it goes. Which is another reason that the OP's article is full of crap.
 
Kal'Stang said:
Umm...the executive branch does not craft law. It enforces law. The legislative branch is the one that crafts laws. The executive branch can suggest something for the legislative to consider, but that's as far as it goes. Which is another reason that the OP's article is full of crap.
Click to expand...
Your statement proves you really don't know how this works. The Executive branch will often write complicated bills (just like they write the budget) and submit it to Congress, who has the right to amend it and decide to pass or not.
 
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