Poll: Will Trump’s proposed Tax Brackets Help or Hurt you?
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Will Trump’s proposed Tax Brackets Help or Hurt you?
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16-12-2016, 10:25 AM
RE: Will Trump’s proposed Tax Brackets Help or Hurt you?
I would be willing to pay extra taxes to have trump go away and never come back.

Shakespeare's Comedy of Errors.... on Donald J. Trump:

He is deformed, crooked, old, and sere,
Ill-fac’d, worse bodied, shapeless every where;
Vicious, ungentle, foolish, blunt, unkind,
Stigmatical in making, worse in mind.
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16-12-2016, 12:15 PM
RE: Will Trump’s proposed Tax Brackets Help or Hurt you?
(16-12-2016 10:16 AM)DLJ Wrote:  
(16-12-2016 09:59 AM)GirlyMan Wrote:  Are they like exemptions?

Dunno. Why would anyone want to be exempt from paying their share? Wouldn't that be like arguing that one contributes less to the restaurant bill because one doesn't drink.

From each according to his ability, to each according to his need.

End of.

Smile

The difference between welfare and tax deductions/exemptions/credits/deferrals is that it don't count if nobody sees you taking it.

There is only one really serious philosophical question, and that is suicide. -Camus
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16-12-2016, 02:13 PM
RE: Will Trump’s proposed Tax Brackets Help or Hurt you?
I don't think it will impact me much. But why is Trump even changing the tax brackets? The problem isn't the brackets. It's the people in the higher brackets paying nothing (mention no names, Donald Trump) or not paying even close to what they should because of loopholes. Oh wait, the richest are going to a lower tax bracket. That explains it. Dodgy

I am not accountable to any God. I am accountable to myself - and not because I think I am God as some theists would try to assert - but because, no matter what actions I take, thoughts I think, or words I utter, I have to be able to live with myself.
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16-12-2016, 02:33 PM
RE: Will Trump’s proposed Tax Brackets Help or Hurt you?
(16-12-2016 09:24 AM)ohio_drg Wrote:  This plan is nothing more than corporate welfare and will be passing a huge debt down to future generations.

Lowering the corporate rate just makes sense. Our rate is one of the highest in the world (rate, not necessarily taxes actually paid). Corporate earnings are taxed twice, so if corporate tax were 15%, that, along with dividends tax rate of 20% would make the taxes paid on corporate earnings more like 32% (the 20% tax is paid on the 85% of distributable earnings after corporate taxes are taken out). That makes the rate more in line with the top rate for personal income taxes.

But the most important part here is not the rate, but the deductions that are eliminated and the much better resulting tax policy.

Trump's plan eliminates most corporate "tax expenditures". The largest of these that is eliminated is the ability of a company with foreign operations to defer ever paying income tax on earnings abroad until they bring the money home. US Corporations have trillions of dollars trapped oversees so that they can avoid paying this tax (https://www.bloomberg.com/news/articles/...void-taxes )

Elimination of this single tax break for large corporations means many billlions of added tax dollars on earnings that we are not currently receiving. Moreover, eliminating this tax break gets rid of the perverse incentive that result from it. Right now, US based companies keep their earnings oversees rather than bringing money home to invest in the US, but by taxing all the earnings equally, US corporations no longer have a huge financial disincentive to reinvesting their money in their home operations here in the US.
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16-12-2016, 07:17 PM
RE: Will Trump’s proposed Tax Brackets Help or Hurt you?
I can't make your chart fit my screen.

However, we're in one of the higher tax brackets and my line seemed to be trending down, minimally.

I don't feel I need my taxes reduced, frankly, and that few hundred dollars is not going to drive economic growth. For us, it will go straight into my son's college costs.
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