Posted on 09/28/2015 8:18:50 AM PDT by Helicondelta
Republican presidential candidate Donald Trump plans to unveil an ambitious tax plan Monday that he says would eliminate income taxes for millions of households, lower the tax rate on all businesses to 15% and change tax treatment of companies’ overseas earnings.
Under the Trump plan, no federal income tax would be levied against individuals earning less than $25,000 and married couples earning less than $50,000. The Trump campaign estimates that would reduce taxes to zero for 31 million households that currently pay at least some income tax. The highest individual income-tax rate would be 25%, compared with the current 39.6% rate.
Many middle-income households would have a lower tax rate under Mr. Trump’s proposal, but because high-income households generally pay income tax at much higher rates, his proposed across-the-board rate cut could have a positive impact on them, too. For example, an analysis of Jeb Bush’s plan—taxing individuals’ incomes at no more than 28%—by the business-backed Tax Foundation found that the biggest percentage winners in after-tax income would be the top 1% of earners.
(Excerpt) Read more at wsj.com ...
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Only the Flat Tax takes the government out of the question of how we live our lives.
The so-called “fair tax” puts the nannies in full control.
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With a 15% tax, you don’t have to file for deductions.
If we reduce the amount of tax people pay, tax loopholes and shelters become redundant.
And that means by the way, companies can pay their employees more because they get to keep more of their income.
Everything has a positive multiplier effect.
Of course, those who benefit from America’s decline, will not like this tax plan.
It would become a cost of doing business. 17% of gross sales (i.e., income to the business) are reserved for taxes. It would apply to all businesses, not just small businesses. If this, plus the other expenses, aren’t covered, the business closes. There’s no allocative impact of the tax code like there is now because everyone faces the same tax.
DEPORTING WILL BE CRITICAL WITH HIS PLAN
And keeping the IRS won’t?
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That is it in essence.
Let me guess what Trump said, in his latest speech:
I’m the greatest
I’m gonna lower taxes
I’m gonna change what people pay
I’m gonna make our system better
I’m gonna help people
I’m gonna be the best
I’m rich
I’m gonna make the rich (except me) pay more
And not one detail as to HOW he plans on doing all of this stuff.
In all of Trumps speeches, not once have I ever heard him talk about the proper roles of government, the proper roles of the three branches of government, the proper procedures for each of these branches, the proper procedures that follow the Constitution, or even mention the Constitution, in general. So forgive me, when I doubt the words coming out of this man’s mouth. He’s tapped into emotion, the same way Obama tapped into it, in 2008. No details, no specifics, just talking points, generalities and platitudes.
No candidate should be given a 2nd thought, if they can’t speak to the Constitution, the role it plays, and how to CONSTRAIN the government within the confines of it. And no one should be given any credibility, unless they can discuss in detail, the path, procedures or plans on which to fulfill their “promises”, unless it is within the confines of the Constitution and the proper roles of the three branches of government.
The ONLY tax plan I would support is a simple FLAT tax plan (10-15% tops).
His proposal is progressive, and I am against that in principal. However its less progressive than what we have today. This is a case where I would still vote for him over any Dem, but would push hard to flatten the progressive scale at the congressional level.
No one else gets as close to this, as he is.
Not true. Not true, at all.
http://www.washingtonexaminer.com/ted-cruz-gets-specific-on-abolishing-the-irs/article/2563631
Trumps plan is great.
It helps middle income folks and encourages jobs to come back to the US and cuts out fat cat loop holes.
TWB
“Because if he doesn’t they will continue to get more back then they put in”
If low incomeers don’t have to pay any tax, the extra disposable income would go directly into the retail economy, so they are putting in a different way.
Trump is going to smash the opposition with this. Couples up to 50 grand pay ZERO in Fed taxes.
Nothing gets no more Conservative than zero in taxes.
Not necessarily. Remember that a lot of millionaires are investors and business owners. If you’re putting a cap of 15% on business taxes, most millionaires won’t give a rat’s a$$ about the increase in the top rate because of what’s happening with their stocks.
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Enough with these dishonest strawman responses!
A true flat tax requires no IRS.
The Flat Tax is the kind of freedom that was intended by our founders.
Trump has presented a great tax plan for all seasons.....this guy Trump really loves all Americans. I like him...he gets my vote!!! Trump will get support and millions of votes from all types & stripes of the American people!!! IMHO...we really need this guy!!! He loves America and everyone in it!!!
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Truth is not welcome on a Trump thread.
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Truth is not welcome on a Trump thread.
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Ted Cruz is all the good things Trump is not.
I think we’ve kinda discussed this, you and I, before -
but what is your objection to the prebate?
My understanding is that everyone gets it, regardless of income, etc.
It basically exempts the first X amount of expenditures from the fair tax. It would be best if it was “floored”, even though the currently proposed plan has no such thing.
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