There it goes again.
Posted on 09/29/2015 4:18:01 AM PDT by Helicondelta
Despite all the criticism the proposal has received from some elements on the right and in the GOP, Limbaugh explained that in a lot of ways, Trump’s plan is similar to Reagan's 1980s Tax Proposals
Partial transcript as follows:
Now, I went back, I mentioned to you that you can find, in the 1980s, you can find evidence of Ronald Reagan with similar tax proposals to what I have seen of the Trumpster’s. If you go back to May of 1985, after the first Reagan tax cuts, he proposed even more tax reform. He made a speech, and in the speech announcing his new proposals, which included slashing taxes for families, as Trump has done today, in that same speech Reagan said the following: “Under our new tax proposal the oil and gas industry will be asked to pick up a larger share of the national tax burden. The old oil depletion allowance will be dropped from the tax code except for wells producing less than 10 barrels a day. By eliminating this special preference, we’ll go a long way toward ensuring that those that earn their wealth in the oil industry will be subject to the same taxes as the rest of us.
“This is only fair. To continue our drive for energy independence, the current treatment of the costs of exploring and drilling for new oil will be maintained. We’re determined to cut back on special preferences that have too long favored some industries at the expense of others. We would repeal the investment tax credit and reform the depreciation system. Incentives for research and experimentation, however, would be preserved. There is one group of losers in our tax plan,” Reagan said
(Excerpt) Read more at breitbart.com ...
Ding, ding, ding, winner winner chicken dinner. The "O" percent payers have no skin in the game, yes I said it. 15% flat and 15% business, cap gains, divi's, you couldn't get much simpler, one rate you can rap your head around...
All I know is that in 1988, after I graduated, there were so many jobs in Manhattan that you could choose where you really wanted to work.
Things were rocking.
for a married couple the tax is 0% on up to 50K combined, now my question, let's say a couple has a combined income of 55K, do they pay 5% on the entire 55K or just on the 5K over the 50K, in other words is the tax on everything below or just on what goes into that bracket?
Let's go a bit further for clarification, let us say, I earn 110K in a year, my wife earns 5K giving us a total income for the year of 115K, what would our tax be, assuming no deductions.
NO “FAIR” TAX!!!!
The so-called “fair” tax is an Orwellian-named liberals dream.
It is a ridiculously high rate, hiding an even more ridiculous rate by using the ‘tax-inclusive’ calculation.
Then toss in the ‘pre-bate’ and you will have libtards falling all over themselves to promise ever higher ‘pre-bates’ to the great unwashed. (I dare you to TRY to argue that they won’t)
Liberals LOVE the “fair” tax. Don’t fall for it.
Flat tax is fine by me, at a reasonable rate- NOT one-fourth of your income. If EVERYONE paid 10% across the board, NO DEDUCTIONS, there would be more than enough money to fund the government. But you have to REQUIRE them to live within a balanced budget- or else NONE of them are allowed to run for re-election.
B I N G O !
Flat Tax or Fair Tax, either of which I would be in favor. However, Ain’t gonna happen as long as Washington is Washington. Too many “Campaign Contributors”.
I was a little disappointed in Trump’s tax plan. Sounds a little Democrat to me. More of the same old same old. Lipstick on a pig.
In my opinion, a negative strike against Trump.
Marginal tax rates only apply to the amount above the next lower rate. So your tax is only due on the 5 about 50. Do you currently pay your taxes?
Marginal tax rates only apply to the amount above the next lower rate. So your tax is only due on the 5 about 50. Do you currently pay your taxes?
Trump bump
“I was a little disappointed in Trump’s tax plan. Sounds a little Democrat to me. More of the same old same old. Lipstick on a pig.”
Cannot just stand up on a stage and say “I am going to take care of everyone” and expect me to fall at his feet.
Make it flat and make it a small amount, say 8-10%.
Abolish the IRS.
Only one candidate has this approach and that is Cruz.
GO TED GO
Keep it on CRUZ CONTROL. They are making their mistakes and their mistakes are your gain.
HOORAY Trump
HOORAY Rush
There it goes again.
I am a FAIR tax guy myself.
Uh oh.....Limbaugh + Trump = Reagan?
GOPe not gonna likey one bit!
I have gotten my @$$ in the sling so many time here for saying that it isn't funny. It will be the full employment act for Tony Soprano's follow on's as the come to your driveway and try to sell you a leather jacket ( that has been jacked ) that is "fair tax" free.
“15% flat and 15% business...”
Looks to me that a 15% flat tax will be great for the underground economy. Hmmm. Where will I buy my $100 DeWalt cordless drill? From Lowes for $100, plus $15 tax, or from the guy at the flea market who sells the same drill for $95 with no tax.
You’re right- I didn’t even mention that part- the underground market for tax-free goods, and giuant ‘barter’ system
Like in Canada.
Who could resist the 30% off?
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