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Opinions On Trumps Tax Plan For The Middle Class

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posted on Feb, 19 2016 @ 10:06 AM
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I never read it until today, I actually had this same idea when the middle class was getting clobbered, that they pay no taxes.
You can't have a strong America until the middle class rebuilds itself and gets out of debt, only then do they begin to move to the upper middle class and start to pay taxes again. Maybe they invest their money to make money, or pay for an education, or have have enough capital to start a business. This formula helps them move forward. Also it helps parents who want one parent to stay home with the kids for the important formative years, and go to one income for a few years.

Taken from his website


If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls. They get a new one page form to send the IRS saying, “I win,” those who would otherwise owe income taxes will save an average of nearly $1,000 each.
All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II.

edit on 19-2-2016 by Blue_Jay33 because: (no reason given)




posted on Feb, 19 2016 @ 10:18 AM
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I like it and i think it will help people of lower incomes build up and they will still be paying sales tax, so they still be taxed in some way. If the middle class disappears we have a big problem and make class mobility easier.

I read some where that income tax was voluntary and not mandatory as said in their own writings, but they have or want to change the wording. I know I'm going to get the response "tell that to the IRS" lol. I don't really want to give government my money because they waste it.



posted on Feb, 19 2016 @ 10:27 AM
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If the middle class paid no tax you can kiss goodbye not just to vital social programmes, but also the Defence budget.

Turns out his "how we wills" are as ridiculous as his "what we wills".


I thought this guy loved the vets?
edit on 19-2-2016 by CharlieSpeirs because: (no reason given)



posted on Feb, 19 2016 @ 10:33 AM
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The bulk of the middle class already don't pay any Federal taxes. The problem is we can't keep squeezing blood from a stone. The government spends too much relative to the amount of taxes we take in. Spending is the problem, not taxation. Unfortunately, as long as politicians can promise a chicken in every pot by taxing someone else, the problem won't go away.

We also need to reign in corporate subsidies, military spending, etc.

There is no reason we are running these deficits other than just pissing away other people's money.



posted on Feb, 19 2016 @ 10:42 AM
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Hmmm


In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.


I thought he wasnt for all the rich people? I thought he was for the little guy?




By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

In contrast, the lowest-income households would receive an average tax cut of $128, or 1% of after-tax income



posted on Feb, 19 2016 @ 10:46 AM
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originally posted by: ManBehindTheMask
Hmmm


In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.


I thought he wasnt for all the rich people? I thought he was for the little guy?




By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

In contrast, the lowest-income households would receive an average tax cut of $128, or 1% of after-tax income


Lowest income households already don't pay taxes (or very little), so there isn't anything to cut. The reason the highest earners get the biggest break is because they are the ones paying the taxes. Any tax cut is going to disproportionately go to higher earners.

The bottom income tax payers actually get NEGATIVE tax rates meaning they receive money from government instead of actually paying taxes.



posted on Feb, 19 2016 @ 10:51 AM
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originally posted by: Edumakated

originally posted by: ManBehindTheMask
Hmmm


In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.


I thought he wasnt for all the rich people? I thought he was for the little guy?




By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

In contrast, the lowest-income households would receive an average tax cut of $128, or 1% of after-tax income


Lowest income households already don't pay taxes (or very little), so there isn't anything to cut. The reason the highest earners get the biggest break is because they are the ones paying the taxes. Any tax cut is going to disproportionately go to higher earners.

The bottom income tax payers actually get NEGATIVE tax rates meaning they receive money from government instead of actually paying taxes.


So just more trickle-up? Oops, I meant trickle-down, its so confusing these days.
edit on 19-2-2016 by amicktd because: (no reason given)



posted on Feb, 19 2016 @ 10:51 AM
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a reply to: Edumakated




Lowest income households already don't pay taxes (or very little), so there isn't anything to cut.


So your excuse to marginalize the fact that Trump is going to be giving his biggest cuts to the rich (even though hes suppose to be for the little man and helping him out) is "Meh a lot of people dont pay it so we dont need to help them"

The mental gymnastics Trump supporters go through to keep carrying this guys water in the face of all the facts is absolutely amazing.

lets just totally also negate the fact that the first part of that illustrated that it would increase the National debt by more than what Obamas administration has.........



posted on Feb, 19 2016 @ 10:54 AM
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originally posted by: CharlieSpeirs
If the middle class paid no tax you can kiss goodbye not just to vital social programmes, but also the Defence budget.

Turns out his "how we wills" are as ridiculous as his "what we wills".


I thought this guy loved the vets?


So you know how the govt divys up their income? Maybe the lost income will force us not to send billions to other countries, or d it will force govt to cut waste. What do you know of how govt money is spent? Maybe it will be a stricter tax system where the 20-25% group will grown larger. Maybe loopholes and write offs will change.

Your comment is ridiculous. You can't just spit out dogma and expect us all to agree with you.



posted on Feb, 19 2016 @ 10:58 AM
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originally posted by: Edumakated

originally posted by: ManBehindTheMask
Hmmm


In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.


I thought he wasnt for all the rich people? I thought he was for the little guy?




By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

In contrast, the lowest-income households would receive an average tax cut of $128, or 1% of after-tax income


Lowest income households already don't pay taxes (or very little), so there isn't anything to cut. The reason the highest earners get the biggest break is because they are the ones paying the taxes. Any tax cut is going to disproportionately go to higher earners.

The bottom income tax payers actually get NEGATIVE tax rates meaning they receive money from government instead of actually paying taxes.


What nation do you live in? People making under $30,000 a year pay plenty of income taxes! Couples under $50,000 year do too! My single sister with no owned home paid more income taxes per year than we as married with a mortgage did for decades and still does! She paid close to 30% for many years.



posted on Feb, 19 2016 @ 11:00 AM
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a reply to: Edumakated

How in the world does the middle class not pay taxes....I had over 8,000 taken out of my yearly pay, and I only make 36,000. Can I have my money back?



posted on Feb, 19 2016 @ 11:04 AM
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originally posted by: Edumakated

originally posted by: ManBehindTheMask
Hmmm


In the Tax Policy Center’s analysis of the Republican candidate’s proposal, the institute said that Trump’s plan would reduce federal revenues by $9.5 trillion over its first decade, and an additional $15.0 trillion over the next 10 years. Including interest costs, the Center said, the proposal would add $11.2 trillion to the national debt by 2026.

To put that into perspective, Trump’s tax plan would cause the debt to GDP ratio to hit 180% by 2036, the Center found.


I thought he wasnt for all the rich people? I thought he was for the little guy?




By 2017, the highest-income 1% of taxpayers would receive a tax cut of 17.5% of after-tax income, and the top 0.1% — those with incomes of over $3.7 million in current dollars — would experience an average tax cut of more than $1.3 million, nearly 19% of after-tax income.

In contrast, the lowest-income households would receive an average tax cut of $128, or 1% of after-tax income


Lowest income households already don't pay taxes (or very little), so there isn't anything to cut. The reason the highest earners get the biggest break is because they are the ones paying the taxes. Any tax cut is going to disproportionately go to higher earners.

The bottom income tax payers actually get NEGATIVE tax rates meaning they receive money from government instead of actually paying taxes.


You are either not from America, or extremely rich... I'm a Anti-Tax guy and even I know this is incorrect.

EVERYONE is paying way too much in taxes and have been for some time now.


originally posted by: neomaximus10
a reply to: Edumakated

How in the world does the middle class not pay taxes....I had over 8,000 taken out of my yearly pay, and I only make 36,000. Can I have my money back?


Support! Give this man his money back!
edit on 2/19/2016 by PsychoEmperor because: to add support




posted on Feb, 19 2016 @ 11:11 AM
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originally posted by: ManBehindTheMask
a reply to: Edumakated




Lowest income households already don't pay taxes (or very little), so there isn't anything to cut.


So your excuse to marginalize the fact that Trump is going to be giving his biggest cuts to the rich (even though hes suppose to be for the little man and helping him out) is "Meh a lot of people dont pay it so we dont need to help them"

The mental gymnastics Trump supporters go through to keep carrying this guys water in the face of all the facts is absolutely amazing.

lets just totally also negate the fact that the first part of that illustrated that it would increase the National debt by more than what Obamas administration has.........


It is not an excuse, it is simple math. I know you progressives aren't good at arithmetic, but you cannot cut someone's taxes IF THEY AREN'T PAYING TAXES. Good grief.

It is literally like you go to restaurant and your rich buddy picks up the tab. You are already eating for free. Restaurant owner says, thanks for being a loyal customer, so he gives your buddy a discount of 10% and saves him say $10.00. Since he is the one paying, the $10 is obviously his, yet you get mad because he doesn't share his savings with you even though you didn't pay for the meal.



posted on Feb, 19 2016 @ 11:14 AM
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a reply to: ManBehindTheMask

You are throwing out a lot of opinions of what a tax cut would look like and affect us without a clue how it would really be enacted. For all we know, it could be great!



posted on Feb, 19 2016 @ 11:15 AM
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originally posted by: neomaximus10
a reply to: Edumakated

How in the world does the middle class not pay taxes....I had over 8,000 taken out of my yearly pay, and I only make 36,000. Can I have my money back?


Did you get a tax refund? Maybe you need a better accountant?

Who Pays Federal Income Taxes



posted on Feb, 19 2016 @ 11:17 AM
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a reply to: Edumakated




It is not an excuse, it is simple math. I know you progressives aren't good at arithmetic, but you cannot cut someone's taxes IF THEY AREN'T PAYING TAXES. Good grief.



Oh ok I understand now, I hope you did more research on your numbers than you did calling me a progressive....

That is hilarious..........



posted on Feb, 19 2016 @ 11:17 AM
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a reply to: ManBehindTheMask

And if the federal government is not pulling in enough in taxes, it will not be able to fund the social programs its citizens demand, or, as in some cases, require.

This burden will then fall to the individual states to shoulder; which will mean higher state, local (think sales and property) taxes.

But many states will not be able to raise the taxes on their citizens enough to meet the requirements their citizens place on them. Many states and localities simply do not have the economic infrastructure to produce the tax amounts they will need to shoulder this new burden due to insufficient production (businesses and/or agriculture) and/or excess need (populations too young/old/unskilled to produce sufficient taxable income).

For example, California has one of the highest tax rates in the nation (as is often decried), yet the bulk of the income taxes collected by the State are turned over to the federal government for redistribution to the rest of the states.

If the federal government were to no longer receive this "welfare", states like Mississippi and Alabama would suffer.

What goes around, comes around.



posted on Feb, 19 2016 @ 11:19 AM
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originally posted by: SunnyDee
a reply to: ManBehindTheMask

You are throwing out a lot of opinions of what a tax cut would look like and affect us without a clue how it would really be enacted. For all we know, it could be great!



I didnt throw out any opinions , that came from Fortune.com Trumps tax plan

From people smarter than I



posted on Feb, 19 2016 @ 11:34 AM
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originally posted by: [post=20392139

What nation do you live in? People making under $30,000 a year pay plenty of income taxes! Couples under $50,000 year do too! My single sister with no owned home paid more income taxes per year than we as married with a mortgage did for decades and still does! She paid close to 30% for many years.


Sunny, you and your spouse are paying less in income taxes because you have deductions that are not available to your sister: the largest of which is one for the interest you paid for your mortgage.

Additionally, the federal tax rate is lower for couples filing a joint return.

In essence, your sister is paying more in taxes so that you and your spouse can pay less.



posted on Feb, 19 2016 @ 11:42 AM
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a reply to: Bhadhidar
Uhhhh, yeah, I undertand that. I didn't think I needed to explain it to anyone here, considering I mentioned I had a mortgage and she did not. That's not the point. trump wants to reduce taxes for lower income wage earners. Someone here said they already pay no taxes, and that's just not true, was my point.

Also, so what, that I have write offs like my mortgage. She paid rent which was near to my mortgage, yet I get great tax breaks and she has to pay double us in taxes? That's never been fair, in my opinion.



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