Posted on 08/10/2015 7:13:51 AM PDT by Jack Hydrazine
The liberal media has been going absolutely berserk over Donald Trump’s remarks on immigration. However, they are ignoring his stances on other issues, some of which are very insightful.
In his book, “Time to Get Tough: Making America #1 Again,” published in 2011, Donald Trump laid out a plan to transform America’s tax code, and it is beautiful.
Trump’s code, which he calls the “1-5-10-15 income tax plan,” is a simplistic way to fix our nation’s broken taxation system, without putting the strain on any particular group of people.
Under Trump’s tax plan, those making up to…
$30,000 per year will pay 1 percent in federal income taxes $30,000 to $100,000 will pay 5 percent $100,000 to $1 million will pay 10 percent $1 million or above will pay 15 percent “It’s clear and fair,” wrote Trump on his tax plan. “Best of all, it can be filled out on the back of a postcard and will save Americans big bucks on accountants and massive amounts of time wasted attempting to decipher the tax code.”
Trump also wrote, “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?”
“The longer you really think about it the madder you will get,” he wrote, “especially when you consider the waste, fraud, and abuse the federal government traffics in as it inflicts its self-defeating policies on hard-working Americans.”
Trump’s rhetoric on taxes continues to this day. On CBS’ “Face the Nation,” Trump stated that he tries to pay as little tax as possible.
“I fight like hell to pay as little as possible, for two reasons. Number one, I am a businessman, and that’s the way you are supposed to do it. And you put the money back in your company and employees and all of that.”
He also added, “But the other reason is that I hate the way our government spends our taxes. I hate the way they waste our money, trillions and trillions of dollars of waste and abuse. And I hate it.” (H/T WND)
Trump’s proposed tax plan is fair and shows real promise at fixing what has arguably become America’s biggest headache. It doesn’t tax the poor to the point of bankruptcy, and it doesn’t punish the rich for being successful.
Wow, that’s not bad...I could handle $300.00 a year...
Compare that to what you are paying now.
Billary pandering with her free college crap today.”””
FREE to the student & thousands of felons & prisoners still incarcerated!!!
Hillary is just plain nuts.
$350 BILLION cost to taxpayers.
That’s not the point. Why replace one defective system for another?
Seems to me it has to be the same as current progressive rate calculations. You are taxes 1% on the first 30000. 5% on the next 70000 and so on. Seems like that would need to be consistent with his plan for the very reason you mention.
1%
I would think you pay 1% on the first 30k and 5% on the amount over 30k, etc.
That’s racist.
;-)
I just went through annual raises. Quite a few people get a small raise, especially those on the low end of the pay scale.
The flaw in your logic is the time it would take you to get to the point where you’d be making more money.
That would make a little more sense.
I know, crazy! That’s why Trump or someone else needs to get out there quick with tax plan...counter what Billary wants to tax you vs. what a tax plan will save you.
Just repeat $350 billion, over & over.
Probably nothing. Right now those earning nothing are eligible for the Unearned Income Tax Credit. That is a refund for not earning any money or paying any income taxes.
Well, this is still a progressive tax plan, just not steeply progressive.
How so?
And it would need an inflation adjuster. Remember, the original income tax was set at income over $3k because in the 1910s only the 1% made over $3k.
And while we are at it let’s completely eliminate the welfare state for both individuals and corporations - all of it - completely.
It is not the government’s job of taking care of the citizenry. Let the people of America take care of their fellow American.
Government’s real job is providing a safe and just environment in which to allow the rest of us to raise our families and run our businesses with minimal interference.
How about charging everyone 10% at the federal level and 10% at the state level with the total tax liability for any one individual or corporation no more than 20%?
It is necessary as it will disempower corrupt bureaucrats like Lois Lerner.
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