Kudlow is someone the taxpayers should at least give a listen to.
every citizen should pay taxes.
According to several tax calculator sites that show tax effects under various candidates Trump would give my family a 40% cut...considering that we’re at that threshold of vanishing deductions and credits because of being too middle class...a very good thing.
“...cutting the business tax rate from 35 percent to 15 percent. “
‘bout time.
America should be the best place in the world to do business.
Like it used to be.
make so the rich never get away without paying at least 10% and stop the paying no taxes bull
Kudlow was pretty much a nevertrump but if Trump is a supply sider he would get on-board.
In neoCon and out of the closet communist budgeting 3.8t is a budget cut!
10% federal sales tax. Abolish all other federal taxes.
I like how whenever any sort of tax proposal comes out there is a scholarly analysis that comes out THREE MINUTES LATER that makes all manner of claims and projections and howls of woe over how many children will starve if this or that proposal is enacted.
Who is “The Tax Foundation”? Never heard of it. Grover Norquists’ pool boy?
Meanwhile, Clinton turns to Lisa Kudrow and Michael Moore.
The 25% top rate should be sacrosanct. That was Coolidge’s top rate.
Though the REAL tax reform we need is repeal of the 16th Amendment.
Good idea....Excellent professional choices.
Trump’s tax plan has brackets for Long Term Capital Gains. Instead of it being 15% for all income levels, it is 0% for Income up to $100K (Married), then 15% up to $300K and then 20% above $300K. Essentially, Trump’s plan allows investing tax free for people with income below $100K and raises the tax rate from 15% to 20% for those with incomes above $300K.
This addresses one of the complaints of wage earners — that the very wealthy pay a lower tax rate than they do because all their income comes from LTCG or other special classes of income.
It makes sense for people who are investing money they have already paid ordinary income tax rates on to pay a lower rate on their LTCG, but the wealthy whose only source of income is LTCG only ever pay the lower LTCG rate.
Does it really make sense for a wage earner to pay 25% on his marginal wages, invest it and then pay another 15% on his LTCG while a wealthy person pays only 15% on his income ?
LTCG are really a screwy way to tax someone when you are talking about the very wealthy whose only income is what they draw off their securities portfolios. Remember that LTCG are only taxed when realized — if you don’t sell securities, they can grow forever and never be taxed. If your portfolio goes up by a $1M but you only need to sell $200K in shares to live on, then you only pay 15% tax on $200K not $1M. Your effective tax rate can be just 3% — which is pretty tough to explain to that wage earner paying 20% or more overall on his wages. It feeds the meme that “the system is rigged” against the little guy.
I think Trump should ignore Kudlow and Moore on this LTCG tax rate “tweak”. They may think it benefits the economy to lower the LTCG rate for the very wealthy but it won’t make lower income people happy to see the wealthy paying a lower rate on their income than workers do on their wages.
Cocaine Larry Kudlow, the man whose moral compass is set by the S&P futures. Not a good pick for Trump.