Trump Looks to Cut Corporate Tax Rate to 15 Percent

Townhall.com ^ | 4/25/17 | Leah Barkoukis Leah Barkoukis

[Hyman Roth]

Until a judge on the Ninth circuit says it is unconstitutional to have tax rates below 35-39%.

[jimwatx]

Tax cuts in the 60's and again in the 80's ballooned Federal revenues. So what do you know? Jack squat.

Reagan tripled the deficit under his watch. After passing his tax cuts in 1981, the employment rate increased to 10.8%, taking several years for it to come down again. Yellen has already signaled that she's gradually raising rates, that's going to have more of an effect on the economy than anything Trump does.

[Mr. Jeeves]

During the last decade the RINOS helped Obama DOUBLE the national debt.

Because adding spending to "get the deal done" is much, much easier than cutting spending for any reason. Taxpayers lack the power to make politicians feel pain the way lobbyists do.

[central_va]

Reagan tripled the deficit under his watch.

What an idiotic statement. Outlays are the polar opposite of revenue and have NOTHING TO DO WITH EACH OTHER. We are talking about REVENUE.

Federal revenue in 1960 = $92.5
Federal revenue in 1968 = $153.0
Over a 50% increase in revenue!

Federal revenue in 1980 = $517.5
Federal revenue in 1989 = $909.0
Over a 70% increase in revenue!

So the FACTS show that cutting taxes in the 60's and 80's increased revenue. So what do you got? Nothing.

Now you know the truth so stop spreading stupid lies and BS.

[captain_dave]

Only natural persons can pay taxes

[SeekAndFind]

The problem WILL NOT BE revenue. History already shows us that it will increase.

Here’s the real problem — WHAT THE GOVERNMENT WILL DO WITH THE INCREASED REVENUE!! <-— Those have always been the problem.

LBJ used the increased revenue to FUND his Great society Programs.

Congress increased spending under Reagan.

So, if your answer is — GOVERNMENT SPENDING WILL INCREASE BEYOND REVENUE, go to the head of the class.

[jimwatx]

You listed revenues taken in but not expenditures. In any event the federal debt tripled (from $997 billion to $2.85 trillion) under Reagan.

[central_va]

A tax cut affects REVENUES and not SPENDING. What are you some kind of financial idiot?

The deficits accrued in the 60's and 80's were alleviated somewhat by the tax cuts revenue stimulation if you want to go there.

[jimwatx]

A tax cut affects REVENUES and not SPENDING. What are you some kind of financial idiot? The deficits accrued in the 60's and 80's were alleviated somewhat by the tax cuts revenue stimulation if you want to go there.

In no way were the deficits from previous decades eliminated, on the contrary the US went from being the world's largest international creditor to being the world's largest international debtor during his administration. Reagan himself said this was the biggest disappointment of his presidency. Your fixation on revenue generated while ignoring everything else makes no sense.

[central_va]

Tax cut have nothing to do with creating larger deficits because historically they INCREASE revenue. Are you mentally impaired? Sir are you OK?

[montag813]

But such a plan would be an extremely tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue

ROTFLMAO!!!

What planet is this reporter living on?

[jimwatx]

This is your 4th post to me with a personal insult. I’m done with you and will leave it to the others on here to decide which one of us is “mentally impaired”. Good day.

[central_va]

Please get someone to do your financial planning and taxes for you. Don’t try it yourself.

[nobamanomore]

Needs to do a 15% flat tax on EVERYONE. No deductions, no tax forms at all, just deduct 15% from the paychecks and let it roll! Included in the bill needs to be a cap on increases as well.

[9YearLurker]

That’s what I’d like.

Every time you carve out some little favorite for someone you not only burden the others more heavily, but you decrease the straight work incentive and you also distort the related market for the worse—e.g., the mortgage deduction is one disaster and the company-provided health insurance deduction is another.

[Theoria]

So true.

[No Socialist]

“Kudos to sticking to his campaign promises on this one.”

I consider it him sticking to promises until is actually passes - this year.

He needs to control Ryan and McConnell or he’s one term. I’m not voting for republicans anymore if they don’t do what they say they’ll do and get results.

[No Socialist]

From the article:

“tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue”

Is this a joke? I would have to say they FAILED.

[No Socialist]

From the article:

“tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue”

Is this a joke? I would have to say they FAILED.

[9YearLurker]

That’s totally fair.