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Trump press conference to release tax plan - live stream
http://abcnews.go.com/Live?stream=3 ^

Posted on 09/28/2015 7:43:13 AM PDT by RoosterRedux

Live Stream

If you have a better live feed, please provide link.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Breaking News; News/Current Events; US: New York
KEYWORDS: 2016election; election2016; grovernorquist; newyork; taxcut; taxcuts; taxreform; trump; trumppresser; trumptaxplan
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To: Jane Long

Based on my 55 years experience operating as a political junkie, there is no one, who can change the direction of this country, except a candidate who has ZERO control from his rich donors.

We never had this choice for 30 years. Now this man Donald Trump wants to help the vast middle class, who has suffered the most due to control of politicians by rich donors. Why do you think career politicians are proposing increasing H1-B visa’s cheap labor express and making it easier for corporations to move manufacturing abroad?

Pray Trump means what he is saying, and voters are waking up.


61 posted on 09/28/2015 8:32:01 AM PDT by entropy12 (When you vote for a candidate, you are actually voting for his rich donors! Trump has no rich donors)
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To: RoosterRedux

Very ‘businessy’ address.

How many newsies will say ‘he looked very presidential’?


62 posted on 09/28/2015 8:32:48 AM PDT by TomGuy
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To: LibsRJerks

Grover Norquist buying off on Trump’s plan .... On FOX
Leading economist predicts 4.0 growth


63 posted on 09/28/2015 8:32:58 AM PDT by LibsRJerks
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To: RoosterRedux

Here is the plan / goal of Trump’s Tax reform. No sense being cheeky about it. Came straight from Trumps web page:

https://www.donaldjtrump.com/positions/tax-reform

Tax Reform That Will Make America Great Again

The Goals Of Donald J. Trump’s Tax Plan

Too few Americans are working, too many jobs have been shipped overseas, and too many middle class families cannot make ends meet. This tax plan directly meets these challenges with four simple goals:

Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.
Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.
Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs, and making America globally competitive again.
Doesn’t add to our debt and deficit, which are already too large.

The Trump Tax Plan Achieves These Goals

If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you will not owe any income tax. That removes nearly 75 million households – over 50% – from the income tax rolls. They get a new one page form to send the IRS saying, “I win,” those who would otherwise owe income taxes will save an average of nearly $1,000 each.
All other Americans will get a simpler tax code with four brackets – 0%, 10%, 20% and 25% – instead of the current seven. This new tax code eliminates the marriage penalty and the Alternative Minimum Tax (AMT) while providing the lowest tax rate since before World War II.
No business of any size, from a Fortune 500 to a mom and pop shop to a freelancer living job to job, will pay more than 15% of their business income in taxes. This lower rate makes corporate inversions unnecessary by making America’s tax rate one of the best in the world.
No family will have to pay the death tax. You earned and saved that money for your family, not the government. You paid taxes on it when you earned it.

The Trump Tax Plan Is Revenue Neutral

The Trump tax cuts are fully paid for by:

Reducing or eliminating most deductions and loopholes available to the very rich.
A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate, followed by an end to the deferral of taxes on corporate income earned abroad.
Reducing or eliminating corporate loopholes that cater to special interests, as well as deductions made unnecessary or redundant by the new lower tax rate on corporations and business income. We will also phase in a reasonable cap on the deductibility of business interest expenses.

DETAILS OF DONALD J. TRUMP’S TAX PLAN

America needs a bold, simple and achievable plan based on conservative economic principles. This plan does that with needed tax relief for all Americans, especially the working poor and middle class, pro-growth tax reform for all sizes of businesses, and fiscally responsible steps to ensure this plan does not add to our enormous debt and deficit.

This plan simplifies the tax code by taking nearly 50% of current filers off the income tax rolls entirely and reducing the number of tax brackets from seven to four for everyone else. This plan also reduces or eliminates loopholes used by the very rich and special interests made unnecessary or redundant by the new lower tax rates on individuals and companies.

The Trump Tax Plan: A Simpler Tax Code For All Americans

When the income tax was first introduced, just one percent of Americans had to pay it. It was never intended as a tax most Americans would pay. The Trump plan eliminates the income tax for over 73 million households. 42 million households that currently file complex forms to determine they don’t owe any income taxes will now file a one page form saving them time, stress, uncertainty and an average of $110 in preparation costs. Over 31 million households get the same simplification and keep on average nearly $1,000 of their hard-earned money.

For those Americans who will still pay the income tax, the tax rates will go from the current seven brackets to four simpler, fairer brackets that eliminate the marriage penalty and the AMT while providing the lowest tax rate since before World War II:

Income Tax Rate Long Term Cap Gains/ Dividends Rate Single Filers Married Filers Heads of Household
0% 0% $0 to $25,000 $0 to $50,000 $0 to $37,500
10% 0% $25,001 to $50,000 $50,001 to $100,000 $37,501 to $75,000
20% 15% $50,001 to $150,000 $100,001 to $300,000 $75,001 to $225,000
25% 20% $150,001 and up $300,001 and up $225,001 and up

With this huge reduction in rates, many of the current exemptions and deductions will become unnecessary or redundant. Those within the 10% bracket will keep all or most of their current deductions. Those within the 20% bracket will keep more than half of their current deductions. Those within the 25% bracket will keep fewer deductions. Charitable giving and mortgage interest deductions will remain unchanged for all taxpayers.

Simplifying the tax code and cutting every American’s taxes will boost consumer spending, encourage savings and investment, and maximize economic growth.

Business Tax Reform To Encourage Jobs And Spur Economic Growth

Too many companies – from great American brands to innovative startups – are leaving America, either directly or through corporate inversions. The Democrats want to outlaw inversions, but that will never work. Companies leaving is not the disease, it is the symptom. Politicians in Washington have let America fall from the best corporate tax rate in the industrialized world in the 1980’s (thanks to Ronald Reagan) to the worst rate in the industrialized world. That is unacceptable. Under the Trump plan, America will compete with the world and win by cutting the corporate tax rate to 15%, taking our rate from one of the worst to one of the best.

This lower tax rate cannot be for big business alone; it needs to help the small businesses that are the true engine of our economy. Right now, freelancers, sole proprietors, unincorporated small businesses and pass-through entities are taxed at the high personal income tax rates. This treatment stifles small businesses. It also stifles tax reform because efforts to reduce loopholes and deductions available to the very rich and special interests end up hitting small businesses and job creators as well. The Trump plan addresses this challenge head on with a new business income tax rate within the personal income tax code that matches the 15% corporate tax rate to help these businesses, entrepreneurs and freelancers grow and prosper.

These lower rates will provide a tremendous stimulus for the economy – significant GDP growth, a huge number of new jobs and an increase in after-tax wages for workers.

The Trump Tax Plan Ends The Unfair Death Tax

The death tax punishes families for achieving the American dream. Therefore, the Trump plan eliminates the death tax.

The Trump Tax Plan Is Fiscally Responsible

The Trump tax cuts are fully paid for by:

Reducing or eliminating deductions and loopholes available to the very rich, starting by steepening the curve of the Personal Exemption Phaseout and the Pease Limitation on itemized deductions. The Trump plan also phases out the tax exemption on life insurance interest for high-income earners, ends the current tax treatment of carried interest for speculative partnerships that do not grow businesses or create jobs and are not risking their own capital, and reduces or eliminates other loopholes for the very rich and special interests. These reductions and eliminations will not harm the economy or hurt the middle class. Because the Trump plan introduces a new business income rate within the personal income tax code, they will not harm small businesses either.
A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate. Since we are making America’s corporate tax rate globally competitive, it is only fair that corporations help make that move fiscally responsible. U.S.-owned corporations have as much as $2.5 trillion in cash sitting overseas. Some companies have been leaving cash overseas as a tax maneuver. Under this plan, they can bring their cash home and put it to work in America while benefitting from the newly-lowered corporate tax rate that is globally competitive and no longer requires parking cash overseas. Other companies have cash overseas for specific business units or activities. They can leave that cash overseas, but they will still have to pay the one-time repatriation fee.
An end to the deferral of taxes on corporate income earned abroad. Corporations will no longer be allowed to defer taxes on income earned abroad, but the foreign tax credit will remain in place because no company should face double taxation.
Reducing or eliminating some corporate loopholes that cater to special interests, as well as deductions made unnecessary or redundant by the new lower tax rate on corporations and business income. We will also phase in a reasonable cap on the deductibility of business interest expenses.


64 posted on 09/28/2015 8:33:25 AM PDT by Sequoyah101 (It feels like we have exchanged our dreams for survival. We just have a few days that don't suck.)
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To: exit82

Reporters must be kindergarten flunk outs.


65 posted on 09/28/2015 8:34:10 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: entropy12

Agree with your post 61 100%.

I beleiev Trump is doing this for the right reasons—for his family and for America.

He does not need the headaches of talking heads criticizing him, Scott Pelly interviews, Jerry Springer type debates and looking at Carly Fiorina.

He could have a stress free retiremnet if he chose to do so.

Instead, he is fighting a fight THAT NO ONE IN THE GOP WILL FIGHT!

And yes, I am shouting.

GO TRUMP!


66 posted on 09/28/2015 8:35:17 AM PDT by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
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To: TigerClaws

Yep, the mainstream media is terrified of Trump because they see his populism being effective.

And the GOPe is terrified because some of their special interests will get gored by Trump.

He’s triangulating folks.


67 posted on 09/28/2015 8:35:25 AM PDT by SteveAustin
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To: entropy12

Amen.

That’s why he’s taking so much flak from BOTH sides....Dims AND GOPee, and even a few faux conservatives in DC.

They do NOT want their gravy train/apple cart turned over. This DC gig gets them a lifetime of sweet benefits, compliments of you and I...regardless if they’re in an elected office or go on to a cushy lobbyist job, afterwards. We the Taxpayer are STILL paying for it!!

Trump is the ONLY one who has the guts and glory to call out and fix this mess.


68 posted on 09/28/2015 8:38:24 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: RoosterRedux

Trump puts his finger on the big issues no one else will touch:

Immigration - eliminating the unlimited flow of aliens abusing our legal system, and he politicians who enable it.

2nd Amendment - RIGHTs PERIOD.

Taxes - simpler, lower, far less drag on economy, in a way that encourages companies t grow here.

With each position paper, he solidifies his appeal to another segment of one-issue voters, while cutting across parties, economic classes and interests.

Gosh, it’s almost as if he is serious about his brand promise, Making America Great Again!

Given that the RINOe party abandoned me and I formalized that break-up by changing my registration, I don’t care if Trump begins a 3rd or 4th or 5th Party to run. If He does what he laid out - even half - I’d be pleased.


69 posted on 09/28/2015 8:39:08 AM PDT by aMorePerfectUnion ( "Forward lies the crown, and onward is the goal.")
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To: Jane Long

Will be interesting to see all of them crawl out of their wormholes to rag on Trump for his tax plan .... Takes notes and take names.


70 posted on 09/28/2015 8:40:09 AM PDT by LibsRJerks
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To: entropy12

I concur!

This is going to SELL.


71 posted on 09/28/2015 8:41:39 AM PDT by RitaOK ( VIVA CRISTO REY / Public education is the farm team for more Marxists coming)
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To: All

The insiders want massive foreign trade agreements. Obama and Cronies WANT business to leave the USA to prop up (and profit from) companies leaving the USA.


72 posted on 09/28/2015 8:41:59 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: BAW

We are hitting FOX. Not even a drive-by peek may actually help TRUMP in this week’s meeting with Roger Aisles. FOX will never lighten up against us, unless forced.


73 posted on 09/28/2015 8:43:40 AM PDT by RitaOK ( VIVA CRISTO REY / Public education is the farm team for more Marxists coming)
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To: Jane Long
The brackets. Trump eliminates 3 of them.


74 posted on 09/28/2015 8:44:32 AM PDT by Red Steel (Ted Cruz: 'I'm a Big Fan of Donald Trump')
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To: Red Steel

Thanks!!


75 posted on 09/28/2015 8:46:31 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: TigerClaws

You make a really great point. Sounds like something Rush would say. Common sense and observation tells us you’re right!


76 posted on 09/28/2015 8:46:36 AM PDT by RitaOK ( VIVA CRISTO REY / Public education is the farm team for more Marxists coming)
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To: goldstategop

it’s not popular, but I am gonna say it.

NO ONE SHOULD NOT BE PAYING TAXES IF THEY ARE WORKING!

The “frees shyt crowd” will keep voting for more free shyt if you don’t make that free shty come with a price tag.


77 posted on 09/28/2015 8:46:48 AM PDT by cableguymn (We need a redneck in the white house....)
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To: RoosterRedux

If he does not lower taxes for all then he is going to raise taxes for all.


78 posted on 09/28/2015 8:47:41 AM PDT by minnesota_bound
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To: LibsRJerks

Indeed....this will be fun to watch.


79 posted on 09/28/2015 8:47:59 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: Jane Long
Wonder what the silly Krispy Kreme question was. Maybe should he drop out...lol.

I don't know. I don't think it was that, because Trump's answer was "I have no knowledge of that."

80 posted on 09/28/2015 8:49:35 AM PDT by JustaCowgirl (the left has redefined the word 'racism' to mean any disagreement with any liberal about any topic)
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