Posted on 09/29/2015 3:56:48 AM PDT by Helicondelta
"This is a hell of a plan,” conservative radio host Mark Levin said Monday night about Donald Trump’s tax proposal, while admitting he disagrees with the GOP candidate in several areas.
“Let me tell you the strong things in this,” he continued. “And he’s very specific for those who want specifics.”
Levin explained:
From seven tax brackets to four. And the top rate is 25%. The top rate now is 39.6%, but for some people it actually winds up being 43% thanks to the deal the Republicans made with Obama a few years ago. So, the Republican establishment types – the Bushies, the Rep. Paul Ryan (R-WI)58% guys – they really have no complaint here, because while they voted to increase the top level to 39.6, and in some cases 43%, 25% would be the top rate under the Trump plan – and I would remind you I think it was 27% under Reagan.
Levin said that, although he prefers both the flat and fair taxes, he thinks Trump’s plan is good overall.
(Excerpt) Read more at breitbart.com ...
We knew this all along, but it’s great to the an endorsement from Levin.
Please explain to me why they should not pay their "fair share" for Fedgov services. Why should anyone be exempt from contributing to their own military defense? Granted, many agencies and some departments should be abolished, but some are beneficial to our lifestyle. Why shouldn't the above help pay since they also enjoy the rewards?
Not a fan of Romney, but looks like he got it right with his 47%.
The magic bullet of this plan is to cut the business rate to 15% - and not just corporate (Sub C) rate, but also the Sub S, LLC, rate to 15% from 39.6%. That’s the killer rate that destroys mom and pops up to pretty good size private companies. The removal of the AMT is the next best thing, followed by the death tax removal.
Those are the 3 killers of family businesses.
The down side is growing the population on non tax payers. Really stinky incentive there.
I dont agree with only 50% of the people paying taxes....we all need to share. Possibly a 2% national sales tax?
No word if that eliminates the Earned Income Tax Credit EITC which is essentially a rebate on your SSI and you pay nothing and or get back more than you payed in. If he is keeping the EITC and a 0 rate quite frankly that would be stooopid. At some point you have to have some skin in the game, it feels so diluting to the voting process quite frankly...
Dont have me assassinated Don Corleone :)..but i’m a little worried about the deficit and debt.
if he had put even a five percent tax on the lowest incomes, it would have been another 100 billion a year. And those people are probably eligible for snap, etc.
but if it gets him elected, then good.
But he’s got to slash and burn the budget. I hope he is planning on it.
That's very true, and very good point. The EITC and the AMT - two things a lot of discussion about taxes overlook - are two of the cancers on our system. The EITC rewards sloth, while the AMT punishes hard work.
If you take a popular tax course with a firm that will remain nameless for $149, they emphasize who you are the clients claiming as a dependent and EITC as areas that are under high scrutiny and the reason the IRS hired another 16,000 a few years ago, not Obamacare...
Another couple of the areas of the code that need streamlining potentially by eliminating them...
“Why shouldn’t the above help pay since they also enjoy the rewards?”
Why should there be a personal exemption?
Why should there be any tax write offs even expenses?
Whats wrong with the first 25 grand being tax exempt for everyone?
What good is it anyway? In a few years 25 grand isn’t
going to be much. It might cover the rent on an
apartment for a year. Inflation will eat that up and it will
be equivalent to the 8 grand we get today.
His interview with Erin Burnett last night on CNN, he made a very big point of going directly after the waste in government. He also mentioned this in his press conference as well.
He has already voiced intent on getting rid of several of the agencies. DOE and EPA to begin with.
Sound great to me!
Slash and Burn!
one out of five federal workers spend their day working for the union. can’t count the number that spend the day watching porn, and lets not forget the guy that got paid for years even though he wasnn’t in the office.
he can save a FORTUNE!
Did Donald Trump actually say he would get rid of the DOE and EPA. That alone will garner my support after Cruz.
I do not like most of his cultural stance, but the government needs a real manager who CUTS stuff.
No plan that doesn’t reduce the size, scope and power of the IRS is worth a damn.
> “Not being a Trump fan, I admit I like most of his plan...EXCEPT for those who make $25,000 (single) or $50,000 (joint) pay NO taxes at all. They say that’s about 50% of our working population. WTF?”
In 1913 when the first constitutional income tax code was issued, the code was 14 pages long and had two brackets: 7% for the extremely rich who had incomes after expenses of $20 thousand or more and 1% on all others of net income after expenses.
If a person or family had no income after expenses, they were not required to file. More than 98% of the adult population never filed and hence never thought a second about an income tax.
There was never a sentiment about “people need to pay their fair share”.
The sentiment “people need to pay their fair share” is a Marxist sentiment “to each according to their need, from each according to their ability”.
If you are a veteran as am I, you were exposed to the notions of ‘duty’, a notion that was mandatory not voluntary. That notion does not carry over to a free civilian population where working is voluntary but necessary, never mandatory.
You are mistaken to apply a military mentality to a free population. Such application is unsustainable and always results in revolt.
The larger the population that pays no income tax the better. Because the income tax is a tool of Marxists.
The consumption tax is the fairer tax and one that gets everyone to pay their share AFTER the essentials of living are bought which is a level of spending defined as the poverty line. All individuals and families who live in poverty are not required to pay tax. All those who are not in poverty are required to pay tax on purchases.
The Trump plan resets the income tax code to boost economic growth. In the years ahead after he is gone, the tax code will once again grow into a monstrosity as it always does.
The consumption after essentials tax plan never grows into a monster because everyone sees it everyday and they can never forget it. So they won’t go along with it growing and occupying a great part of their lives.
Levin said that, although he prefers both the flat and fair taxes, he thinks Trump’s plan is good overall.
It helps abolish the IRS.
This is what Ted Cruz prefers as well.
Thanks for the endorsement Mark, we appreciate it.
yes, eliminating EITC would be good for streamlining AND incentive.
I am looking for that news as well. This would be the ONLY feature (rescinding EITC) that can make sense of taking as much as 50% of the working population off of the tax rolls and without "any skin in the game".
No plan that doesn’t reduce the size, scope and power of the IRS is worth a damn.
Ted Cruz’s flat tax proposal does both, cuts taxes and attempts to eliminate IRS.
Cruz also attacks the other alphabet orgs in government.
He has said he would get rid of many agencies, especially the redundant charges for each.
Remember, only Sarah and Cruz have met with him at his offices and that was very early in his campaign. I discount Rinse Priebus (s) because all he wanted was that stupid signature on his stupid pledge.
Anyway, when Sarah was interviewed on the CNN Sunday talk a few weeks ago, she was asked if she had any thoughts on an appointment in a theoretical Trump administration. She was very quick to answer DOE and said it would be one of the shortest cabinet appointments in history because she would shut it down. I refer back to the meetings in Trump’s office.
I would see moving DOE, EPA and even more related internal agencies into the Interior and having Sarah in charge of that to start the culling because it would be much easier to eliminate the redundancies in that move.
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