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  1. #26
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    The only reason I switched my vote to Trump from Hillary was the tax plan. I don't care who pays more or less. All I care about is if I get to keep more of my money instead of giving it to the government

  2. #27
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  3. #28
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    Seth is STILL amazed?

  4. #29
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    Fact-checking President Trump’s tax speech in Indianapolis

    “To protect millions of small businesses and the American farmer, we are finally ending the crushing, the horrible, the unfair estate tax, or as it is often referred to, the death tax.”

    The president’s suggestion that “millions” of small businesses and farms are affected by the estate tax is absurd. According to the nonpartisan Tax Policy Center, only about 5,500 estates in 2017 — out of nearly 3 million estates — would have to pay any taxes. About half of estates subject to the tax would pay an average tax of about 9 percent. That’s because for a married couple, about $11 million is exempt from taxation.

    Only 80 — that’s right, 80 — taxable estates would be farms and small businesses.

    “Today, our total business tax rate is 60 percent higher than our average foreign compe or in the developed world.”

    Trump exaggerates here. The United States certainly has one of the highest statutory corporate tax rates in the world, currently pegged as high as 39.1 percent when including state taxes. (The federal rate is 35 percent.)

    Trump says it is 60 percent higher than “our average compe or in the developed world,” comparing 39.1 percent to the average rate for the other members of the Organization for Economic Cooperation and Development, which is 25.5 percent when not weighted for GDP. (It is 31.4 percent when weighted for GDP.)

    Congressional Research Service, the effective rate for the United States is 27.1 percent, compared with an effective GDP-weighted average of 27.7 percent for the OECD.

    The Congressional Budget Office, when it examined the issue, said the U.S. effective tax rate was 18.6 percent, which it said was among the highest of the biggest economic powers

    “Americans waste so much money, billions and billions of dollars and many hours each year to comply with our ridiculously complex tax code. More than 90 percent of Americans use assistance to prepare their taxes.”
    54 percent of individual taxpayers pay preparers and about 40 percent of individual taxpayers use software that costs about $50 or more.

    “A married couple won’t pay a dime in taxes on their first $24,000 of income. So a married couple, up to $24,000, can spend their money on their family, on their children, on what they have to do — so much better.”
    So a couple with two children already “don’t pay a dime” on their first $28,800. That’s because they get $12,600 in a standard deduction and $16,200 in dependent and personal exemptions.

    “conservatively” estimated in 2016 that “Trump’s plan would increase taxes for about 8.7 million families,” but the number could be as high as 11 million under “reasonable assumptions.”

    “The tax strategy that Ronald Reagan used to create an economic boom in the 1980s when our economy took off, the middle class thrived. And the family income of all families was increasing more and more, and it was a beautiful sight to behold.”
    This is a flip-flop. He was always a fierce critic of the bill, Reagan’s Tax Reform Act of 1986, which he now calls “a beautiful sight to behold.”

    “Indiana is a tremendous example of the prosperity that is unleashed when we cut taxes and set free the dreams of our citizens. … All of this is possible because the people of this state have made a decision … [which] included electing a governor who you may have heard of, who signed the largest income tax cut in the state’s history, our very, very terrific person and terrific vice president, Mike Pence.”
    Vice President Pence did make the largest income tax cut in Indiana’s history — but he didn’t have a very high bar to overcome, and it was a modest cut.

    Indiana’s individual income-tax rate was already the second-lowest in the nation when Pence took office.

    state lawmakers raised taxes as soon as Pence left office.

    “I’m doing the right thing and it’s not good for me, believe me. … We are also repealing the alternative minimum tax, or AMT.”
    from 2005, shows that the AMT increased his tax bill from about $5.3 million to $36.5 million. So at least in that tax year, he potentially could have saved $31 million.
    Eliminating the estate tax, meanwhile, is likely to benefit his heirs.

    https://www.washingtonpost.com/news/...nl_most&wpmm=1


    As always, Trash is
    LYING LYING LYING LYING LYING
    A single filer who makes the average US median salary will pay 19.1% more taxes under the current plan than Trump's plan (see above)

  5. #30
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    The only reason I switched my vote to Trump from Hillary was the tax plan. I don't care who pays more or less. All I care about is if I get to keep more of my money instead of giving it to the government
    Good for you. You'll use it much better than the government.

  6. #31
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    lol and now it's Democrats using the deficits talking point.

  7. #32
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    lol and now it's Democrats using the deficits talking point.
    Why did Republicans stop talking about it?

  8. #33
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    Why did Republicans stop talking about it?
    The guy who ran it it up at record rates isn't in office anymore?

  9. #34
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    The guy who ran it it up at record rates isn't in office anymore?
    Seeing as Republicans controlled most of the budget process for most of that time, no.

    Are the Republicans now lowering the debt since they are in control of all branches of government and they said it had to be done?

  10. #35
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    it will be lower then when trump got in when he leaves after 8 years

  11. #36
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    Seeing as Republicans controlled most of the budget process for most of that time, no.

    Are the Republicans now lowering the debt since they are in control of all branches of government and they said it had to be done?
    If his budget goes as planned, his government spending cuts will lower it.

  12. #37
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    Hypothetically, speaking.

  13. #38
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    If his budget goes as planned, his government spending cuts will lower it.
    How much would the debt be lowered? I'd love to see a link to the numbers he presented.

  14. #39
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    How much would the debt be lowered? I'd love to see a link to the numbers he presented.
    $3.6 trillion per May reports from when he proposed it.

    Fetch your own link, I'm not doing your homework for you. /you.

  15. #40
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    How much would the debt be lowered? I'd love to see a link to the numbers he presented.
    you are a lazy s.o.b.

  16. #41
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    $3.6 trillion per May reports from when he proposed it.

    Fetch your own link, I'm not doing your homework for you. /you.
    The only thing I see is that it balances the budget by 2027 -- meaning it will only increase the debt in the meantime.

  17. #42
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    you are a lazy s.o.b.

  18. #43
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    The only thing I see is that it balances the budget by 2027 -- meaning it will only increase the debt in the meantime.
    Straws.

  19. #44
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    What? Use your words.

  20. #45
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    Why did Republicans stop talking about it?
    Because they won

    Why did Democrats start talking about it?

  21. #46
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    Betsy DeVos Says She Did Math on Trump’s Tax Plan and It Will Save Nation Eleventy Krillion



    WASHINGTON — In a ringing endorsement from the Secretary of Education, Betsy DeVos said on Thursday that she did the math on Donald Trump’s tax plan and that she estimates it will save the United States roughly eleventy krillion dollars.

    “I took out a pencil and paper and figured it out the old-fashioned way,” DeVos told reporters. “I wound up going through a lot of paper, because eleventy krillion has ten hundredteen zeroes.”


    DeVos stressed that the eleventy-krillion figure was actually a conservative estimate. “The exact number was between eleventy and ninety-quelve, but I rounded down to eleventy,” she said.


    The Education Secretary said that the national debt, which currently stands at more than twenty trillion dollars, would be greatly reduced by the eleventy-krillion-dollar windfall.


    “If you subtract eleventy krillion from twenty trillion, you get a number so small it has no name,” she explained.


    https://www.newyorker.com/humor/borowitz-report/betsy-devos-says-she-did-math-on-trumps-tax-plan-and-it-will-save-nation-eleventy-krillion

  22. #47
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    Trump lies: His “family farmer” who “fears the inheritance tax” is Monsanto’s biggest seed-corn grower

    Kip Tom’s Monsanto connection

    As for Kip Tom: That 187-year-old farm was a lot smaller when he inherited it from his parents. Two hundred acres. It’s a far cry from that now.

    Today Tom, is on the Trump advisory committee on agriculture, was apparently considered briefly for secretary of the Agriculture Department, and is CEO of Tom Farms LLC.


    That operation, according to Politico, makes his farm the largest in Indiana, and one of the largest in the nation, with 20,000 acres spread over seven counties. Tom also operates farms in Latin America.


    In 2013, he told an interviewer for Indianapolis Monthly that his Indiana operation pays out some $10 million a year just on new equipment:

    Tom Farms is also one of the top seed-corn producers for global agri-giant Monsanto.

    Raising the genetically modified crop requires tightly controlled in-field pollination, plus logistical know-how that only operations like Tom’s can provide.

    Making sure each plant is properly detasseled takes two passes by specialized machines, plus a final “rogueing” step, whereby

    700 orange-hat–wearing migrant workers from Latin America and Cambodia walk every row of about 5,000 acres and

    remove any remaining tassels by hand.

    In other words, not anywhere close to a shoestring operation.


    If he died this year, his extensive holdings in Indiana would be one of about 50 to 80 family owned farms and small businesses in the whole nation that would owe
    any estate tax.

    The Tax Policy Center estimates that the inheritors of such operations average a tax bill of just 6 percent of the farm or business’s value.

    http://redgreenandblue.org/2017/09/2...d-corn-grower/

  23. #48
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    Because they won

    Why did Democrats start talking about it?
    Because the Republicans stopped. If it isn't important to Republicans, why pretend?

  24. #49
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    Silicon Valley companies may put themselves at odds with President Donald Trump when it comes to social issues like climate change or immigration, but on taxes, the heads of tech companies have been working diligently with the administration to help shape tax reform policies, Politico reported Saturday.

    http://www.politico.com/story/2017/0...-reform-243318

  25. #50
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    American Action Network Releases New Ad on Tax Reform

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