Posted on 08/08/2016 12:27:37 PM PDT by ToxicMich
On Monday, Donald Trump took to the stage of the Detroit Economic Club to release his latest plan for jumpstarting the economy, a task that he said “won’t even be that hard.”
Among his major proposals is to streamline income tax brackets—of which there are currently seven—to three tiers, in which no American would pay more than 33 percent to the federal government. He promised to cap the corporate tax rate at 15 percent and to put an end to estate taxes. He also suggested halting any new federal regulation on finance, doing away with TPP, and bringing back the Keystone pipeline project. He promises to override what he deems overreaching executive orders and to repeal Obamacare, saying that doing so will create 2 million more jobs.
Many of the tenets of Trump’s economic strategy are predictable for a Republican candidate: tax cuts (particularly for businesses) and changing the way the U.S. trades with other countries in order to bring about what he calls an “America first” economy. But there are other portions of his strategy that might feel new to those with traditionally conservative sensibilities. For instance, Trump’s plan advocates for more affordable child care by allowing Americans to deduct the cost of it from their taxes.
(Excerpt) Read more at theatlantic.com ...
Right on, Trump!
Trump for President.
Brilliant! good move by Team Trump
Don’t forget slashing regulations. Trump mentions it in his terrific speeches. That’s always a big part of economic reform and recovery and was a top priority of Reagan, too.
While tax cuts often decrease revenue that’s not the case with cutting regulations.
I hope it gets clear with Donald that the best way to get “affordable [whatever]” is to get out of the way of the free market. It sounds like he wants to set up some kind of mild socialism, mild compared to what the Democrats have bequeathed upon us. But that isn’t the way God wants us to do charity.
It's like we never saw the increased tax revenues after the Reagan tax cuts! (The deficit was mainly due to the Dem controlled Congress.)
Even the Laffer curve realizes that there is a point where a cut taxes reduces revenue. The question is whether Trump's plan does that, and we have no idea yet. His original plan was projected to increase the deficit by $10 trillion over ten years. His campaign says this new plan raised the deficit by only $3 trillion over ten years. So obviously he's using different rates from the other plan. Trump has promised details over the coming weeks so it'll be interesting to see what those details are.
They’ve had their way so long most families need mom to work to get the basics. It wasn’t conservative back in the day but time has evolved and now it is pro-family and hence, conservative.
Can you elaborate on your “socialism” comments?
In order to really send the left into a tizzy. Trump should announce his minority outreach program that will give tax credits to businesses that higher minorities.
Obviously, and even if one doesn't consider that part of the Laffer curve the time it takes for the tax reductions to actually have an effect on the economy will cause an initial defcit increase.
after pointing out the obvious, what is there to elaborate on?
I am torn at best on this. Official color blindness is the best policy. That way nobody can suspect anyone of an unfair advantage.
Estate tax exclusions should be made for land values of less than $10,000/acre on personally run farms, ranches and of the value of personally supervised manufacturing equipment.
The federal government needs money to repay the $18 trillion borrowed and to pay soldiers, FBI agents, etc.
I’d rather that money come from Internet billionaires and real estate moguls with more than they could spend in a lifetime than out of my pockets or yours.
Well, I can’t imagine you believe any president could eliminate all taxes, and if they did, wouldn’t that be “Communism” with the withering away of the State?
Please tell us of the many socialist plans of Trump.
Affordable Childcare?
That’s not what I heard.
I thought I heard hime say that the cost of child care would be a tax deduction.
That would be a much better solution than trying to pin the “affordable this and that crap” on Trump that the demoncrats are always braying about.
No if you listened to Trump’s speech it as all about getting out of the way of business. There was zippo that could be construed as “mild socialism”. It was all about free enterprise. I see you still have a little “ mild Cruz butthurt” going on. :-)
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