Posted on 04/28/2017 8:45:40 AM PDT by detective
This is only a bad idea to those who want to use tax policy to control behavior.
The deficit will be a continuing problem until it isn’t. The youth should be the ones complaining but they are out in the streets protesting for more. It’s merely our job to show some tough love by denying it. Snowflakes gotta melt.
Well, I expect the Democrats to oppose it.
And the Republicans.
Why does it take a brain surgeon to figure out that lower taxes means you keep more of your money. And you might even figure out that tax cuts also means lowering costs which means lower prices. So you keep more of your own many and it goes further than it used to.
As far as you’re concerned, your economics are greatly befitted by tax cuts. A great plan as far as you’re concerned.
That straight 15% sure looks good for small businesses in particular.....assuming one could still take regular deductions for expenses.
“This is only a bad idea to those who want to use tax policy to control behavior.”
Yep. To make them kings and make them the only route to get blessed (of course they get their cut) to do anything with creating individual prosperity.
It is enough to take the wind out of most people's sails.
Yesterday our brothers and sisters on DU were lamenting the loss of the property tax deduction in favor of a larger deduction (which everyone gets). Apparently the railing against large houses, ‘the rich’, carbon footprints, ‘regressive taxes’ (the more your house costs the more you can deduct), was just a fabrication.
Any plan that lets all American’s keep more of what they earn through the sweat of their brow is Good for America.
...give everyone the incentive to earn more instead of spending so much time and money trying to beat the tax man.
Middle class can be hit really hard by no medical deductibles.
A much better treatment of taxes would be to do it by Constitutional Amendment and do a low (my magic umber is 9% for reasons historic, rational, and some irrational) and no exempts, deducts, or credits-9% from the first dollar of earned income, or a low uniform tariff all coupled with elimination of business taxes of all kinds or no more than a nominal 1%. The liability of this approach is that there would be entirely too much revenue flow to the Federal Government once the economy has blasted off.
All that being said, we have a "Consumer expert" on the radio here in Atlanta named Clark Howard. He says that the tax plan is NOT revenue neutral but results in the government losing money. He's full of merde:
Perhaps - but that wasn’t their lament. Do medical deductibles and other deductibles in aggregate typically exceed what the new base deductible will be for everyone?
A flat tax needs to be instituted by Constitutional Amendment. Any arrangement passed by Congress, no matter how good it is, will be repeatedly fiddled with and added to and warped to progressively handicap business and discourage savings and work until we have to have another “tax reform.”
ABSOLUTELy.
It doesnt take much illness to hit that deductible for a single person.
What about people withdrawing from their IRA to pay for medical..Including nursing home care
Middle class will be hardest hit because of it. I hope congress vetoes anything like this.
If child care gets to be accounted for thanks to ivanka..then so can medical
This is only a bad idea to those who want to use tax policy to control behavior, to reward bad behavior and punish the productive citizens.
It means their clients will end up with more beans for the accountants to count - the accountants will be ok.
They will take care of themselves. All you have to do is look at the incredible proliferation of new accounting pronouncements and new required financial statement notes in recent years to understand.
PING!!!
This is the most intelligent tax policy I have seen since Ronald Reagan’s and my initial thoughts make me believe that it is better than Reagan’s.
Article and ALL comments.esp #2 and #18
This is only a bad idea to those who want to use tax policy to control behavior, to reward bad behavior and punish the productive citizens.
thanks, detective
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