The TRUMP Tax Plan

To be honest I don't agree with the richest Americans taxes dropping by 7% and the poorest rising by 2%.

I would have gone 100K plus 35%, 50K plus 25%, everybody else is 10%, this way we lift up the poorest in America. (single income)
For double income same tax brackets but I wouldn't just double it, 175K plus would be 35% $88K plus would be 25% and finally everything under that would be 10%
Strengthen the middle class back up to the maximum possible.
It might encourage some people with children to stay home instead of paying daycare AND moving into a higher tax bracket.
And it might make 49.5K become a common salary, after all making 55K wouldn't be worth it.
If you are making 75K you are doing fine in this America, and you can afford a 25% tax bracket.

Come om man get with it. Screw the little guy. What's he gonna do about it? Besides, only the rich know what to do with money. Ask the Rockefellers and they'll tell you the same thing. There's still about 10% of the wealth of the country that the 1% doesn't have so there's more work to be done. More work to be done. Keep in mind, the last time we lived in a feudal culture the king owned everything. And that is the plan.

a reply to: Blue_Jay33

Im not thrilled, according to this my taxes are going up

originally posted by: Blue_Jay33

If you are making 75K you are doing fine in this America, and you can afford a 25% tax bracket.

And if you are making more than $400,000 you are also doing fine enough to afford the 35-40% tax bracket, but noooooo, we gotta make sure the wealthiest (like Trump, what a coincidence) get a break.

Welcome to the new world according to TRUMP.

a reply to: BlueJacket

I hope you are not in the super poor category of under 10K/18K, in which case I feel for you.
But if you are in the 100K/225K plus category, I am not going to shed a tear for those, as they are doing pretty good anyways.

Gotta look out for the cronies

I'm guessing that these people making choices for Americans have never had to try to make it by living check to check. This kind of life leaves no room for a 2% increase. But they wouldn't know about that.

He's very rich and his children are very rich. His friends are very rich. His business associates are very rich.

Yet somehow or other, people expected him not to favor the very rich?

wth.

a reply to: Blue_Jay33

He is raising taxes, in both categories, for those that make about as much as he spends on a suit or a couple pairs of shoes.

originally posted by: Blue_Jay33
a reply to: BlueJacket

I hope you are not in the super poor category of under 10K/18K, in which case I feel for you.
But if you are in the 100K/225K plus category, I am not going to shed a tear for those, as they are doing pretty good anyways.

This impacts me and my father, I'm in the low low which is tough anyway but my dad (75 years old, about to get surgery for pre-cancerous growth) is in that "higher" category. He works so hard for his money. He's worked hard his whole life and made it out of poverty to build a successful life for himself and his family. The money he saves is not only for the bank but to supplement high medical bills of a few of the family members, plus he has an aging parent who needs help and more.

I do feel for him. I don't think he deserves that.

originally posted by: jtma508
Come om man get with it. Screw the little guy. What's he gonna do about it? Besides, only the rich know what to do with money. Ask the Rockefellers and they'll tell you the same thing. There's still about 10% of the wealth of the country that the 1% doesn't have so there's more work to be done. More work to be done. Keep in mind, the last time we lived in a feudal culture the king owned everything. And that is the plan.

Donald, is doing exactly, what is going to make him and his friends richer! I wonder if your dear president elect will pay his taxes this year!?!

All middle class (what's left of them) and lower who voted for Trump, get ready to claim YOUR prize!!!

a reply to: reldra

I imagine buying a tank of fuel to fill his fancy jet is more than some people live on in a year.

originally posted by: zosimov

originally posted by: Blue_Jay33
a reply to: BlueJacket

I hope you are not in the super poor category of under 10K/18K, in which case I feel for you.
But if you are in the 100K/225K plus category, I am not going to shed a tear for those, as they are doing pretty good anyways.

This impacts me and my father, I'm in the low low which is tough anyway but my dad (75 years old, about to get surgery for pre-cancerous growth) is in that "higher" category. He works so hard for his money. He's worked hard his whole life and made it out of poverty to build a successful life for himself and his family. The money he saves is not only for the bank but to supplement high medical bills of a few of the family members, plus he has an aging parent who needs help and more.

I do feel for him. I don't think he deserves that.

Your father does not deserve this assault. And there are so many more like him. I'm so sorry.

Inflation due to increasing money supply is always going to result in ever higher prices. Therefore ever higher taxes to compensate.

Or Shrinkflation, smaller quantities inside packaging on the shelf. Haven't we noticed?

Its a starting point...nothing more. By the time it makes its way thru the system you can bet it will resemble closer to every ones liking.

Personally I would rather have the flat tax/consumption tax.. pretty much anything that does away with the IRS should be the goal of anyone trying to "balance the budget".

originally posted by: angeldoll

Your father does not deserve this assault. And there are so many more like him. I'm so sorry.

Hey, thanks!

Yes, I agree.. when it hits home it really hurts. But you're absolutely right- there are so many out there like him, or with worse circumstances to deal with. The middle class will one day be the true American Dream- when it's no longer the reality.

Yeah, was looking forward to having our taxes go lower, but 'oops' hubby just received a raise! Dangnabbit! Frustrating since now his raise actually will cost us more in taxes annually than what it actually is monetarily. Sigh. My husband has actually stated he should just refuse the raise!

I imagine it will be frustrating for a few who fall in that tax border zone between 12% and 25% taxation. I guess I will have a year to get creative with our finances and plan on how to jump through some more deductible loopholes to try and lower our future taxable income. It is what it is.

Edit add: here's hoping maxing out our 401k contributions will offset our adjusted balance, otherwise I am going to have save medical expense/charity/etc. receipts and actually use them! Ugh. In the past, it really was more work than it was worth...but if our taxes double up...well, obviously, it will need to be done.

a reply to: Zimnydran

you can bet it will resemble closer to every ones liking

Although your optimism is admirable, I'll think I'll keep my money. I won't be placing a bet on this.

originally posted by: zosimov
Gotta look out for the cronies

I'm guessing that these people making choices for Americans have never had to try to make it by living check to check. This kind of life leaves no room for a 2% increase. But they wouldn't know about that.

That's the thing. Trump has NEVER lived, from birth, in the world most of us do. To truly understand something, you must experience it. I wish there was a way to give him $25,000 a year and say "live on this, pal."

He wouldn't even be able to go to his own country club, or have a meal at a Manhattan restaurant.

a reply to: Blue_Jay33

Problem is , I see no source
Is this your charts ? or some made up crap ?
I vote the latter
Put up or shut up time

if you make less that 9,100 you wont pay any tax. That means I would get off scott free.
This is not counting STATE income taxes is it? Dont state taxes drop as well in proportion to federal taxes?