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originally posted by: FamCore
a reply to: xuenchen
Apparently this tax plan will cost the US Government $4 trillion over the next few years (I've heard reports at costing the gov. only $2 trillion, and others stating it as high as $6 trillion).
Not sure how they will finance this.
It might force the government to borrow MORE money, discouraging economic growth and private investment.
Not to mention the Democrats in Congress will probably never vote for it anyway. Just my quick and dirty assessment - I haven't thoroughly reviewed how the tax plan is supposed to be implemented but from a surface level, those are my concerns.
originally posted by: bigfatfurrytexan
a reply to: Byrd
THis sounds like Chicken Little. I usually file my taxes mid February. Tihs year i was busy and did it on Saturday, April 15. 8 days later i had my return in my bank account.
Wal Mart doesn't pay the lowest wages. in west texas, they are a solid employer and community partner. I know the community laison for my town, and he's a compassionate and hard working man. The wages at the local wal mart are about 40 cents an hour higher than other similar outlets. The people who work there have been there forever....a solid employer with a long term employment history among the local pool.
What im seeing is that people don't care what does or doesnt benefit them, so long as we screw over the rich. I would have never expected to see some of the people I see in this thread making political arguments against their own best interests simply because they can't stand the idea of wealthy people faring better, too. Its like with some, the idea of a prosperous America means we all get to poke the rich with sharp, hot sticks for entertainment.
And yet not a single person can address the fact that our corporate tax rate looms among the highest in the world, because other nations are stupid enough to want to screw over their wealthy just for kicks and grins.
originally posted by: ketsuko
originally posted by: buster2010
No surprise the tax plan laid out it's to benefit the wealthy and screw the rest of America over. Just like when that other idiot Reagan was in office.
This is to make us competitive with all those so-called Euro-socialist nations you put up on pedestals. Their corporate tax rates are 24, 27 and 22% respectively.
originally posted by: burdman30ott6
I'm a fan of he who earns it decides where best to bequeath it.
originally posted by: BlueAjah
a reply to: CB328
Why oh why is there so much hate against people who have money?
If someone worked hard to become successful, they deserve to keep what they earn.
The rest of us are not entitled to a share of what they earned.
originally posted by: Zanti Misfit
a reply to: BubbaJoe
I dunno about that , Remember the " .Com " Boom of the Late 90's ? A Lot of Middle Class People Became Members of the Super Rich for Awhile . The " American Dream " was at Least Still Alive back then . Today ? Fagetaboutit !
originally posted by: xuenchen
Trump has put out a tax plan for Congress to consider.
It seems to cut and consolidate the income tax system.
Looks like a "3 rate" system of 10% - 25% - 35%, and it increases the standard deduction (for some?).
And it looks like "Business" tax goes down to 15%.
And it addresses the problem of companies holding profit money overseas.
President Trump's tax plan: Here's what it includes
President Trump’s top economic advisers laid out an ambitious tax plan Wednesday afternoon that the administration contends will simplify the process for average Americans and “stimulate” business investment.
Chief economic adviser Gary Cohn and Treasury Secretary Steve Mnuchin unveiled the first official details -- printed on a single sheet of paper -- of a plan Cohn called “the most significant tax reform legislation since 1986, and one of the biggest tax cuts in American history.”
The document is mostly a series of broad principles under three headings: Goals for Tax Reform, Individual Reform and Business Reform. But there are a series of specifics laid out, including: