Posted on 09/28/2017 11:26:12 AM PDT by Mariner
President Donald Trump's top economic adviser, Gary Cohn, said today that he can't guarantee that taxes won't go up for some middle-class families under the administration's sweeping tax overhaul.
"There's an exception to every rule," Cohn told ABC News chief anchor George Stephanopoulos in an interview on "Good Morning America."
"I can't guarantee anything," said Cohn, the director of the White House Economic Council. "You can always find a unique family somewhere."
He said Trump's plan is "purely aimed at middle-class families." But Cohn acknowledged that "it depends which state you live in."
"A typical family of four earning $55,000 in America today is going to have a substantial tax decrease," he said, adding that its taxes would decrease by $650 to $1,000. "Everything we have done in this tax plan is to solve for the middle class."
(Excerpt) Read more at abcnews.go.com ...
This happens too much. Not everything is fake news because it comes from a liberal outlet. Sometimes it’s true - it’s just something we don’t like. Of course these outlets are biased and can’t be fully trusted, but not everything negative is fake.
That SOB Gary Cohn had BETTER guarantee it.
"I'm getting a whopping tax INCREASE!"
You don't even know where the marginal taxes kick in at since 4 out of the 7 brackets are going down and 1 is staying the same, another is going down or going the same and one is going to go up $370.
PS I have a BS in Econ (4.0 GPA) and a T10 MBA, plus I work in corp finance at the highest levels for a $6.5B company. But thanks for playing.
I don’t understand how you will get hammered with a doubling of each dependent deduction. Explain it to me, please.
That used to be the backbone of the GOP.
Lol. Obviously you haven’t been reading my posts.
Before you jump on someone you should actually understand what the person posted!
Track that.
The point of conservative tax reform should be to ensure that everyone has sufficient exposure to be incentivized to reduce expenditure
That is an unambiguous statement in favor of raising taxes on those you contend pay too little now.
Duh ... tax lesson.
Refer to irs form 1040.
Taxable income is calculated before tax bracket is determined.
THESE IDIOTS!
SAME OLD, SAME OLD SONG AND DANCE!
KABUKI THEATER!
LIARS REARRANGING DECK CHAIRS ON THE TITANIC!
WILL NOT WORK!
ARE WE READY FOR A TAX REVOLT?
DO YOU REALLY WANT TO DRAIN THE SWAMP?
REPLACE THE INCOME TAX WITH THE FAIRTAX AND ABOLISH THE IRS!
DOING THAT WILL DRAIN THE SWAMP!
</rant>
Congress and POTUS are missing a GRAND OPPORTUNITY to replace the income tax with the FAIRtax and ABOLISH THE IRS!
The FAIRtax is a much better tax THAN ANY INCOME TAX! As the name implies, it is fair to everyone, because it treats everyone with absolute equality.
FAIRtax will replace the Communist Manifesto inspired “progressive” income tax with a single rate National Retail Sales Tax applied at the point of retail sale.
The Internal Revenue Service, perhaps the most hated agency of the Federal government will be abolished!
Companies and states will be reimbursed to cover their cost of collection.
April 15th will become just another nice spring day!
And, a clever prebate system ensures that every family will be able to purchase the necessities of life tax-FRee.
Please take the time to read all about it at https://www.congress.gov/bill/115th-congress/house-bill/25.
We will never be a FRee country so long as we have a progressive income tax and an IRS!
To find out how you can help us rid the USA of the income tax and the IRS, go to https://www.fairtax.org.
NOTE: If you would like to be removed FRom the FAIRtax ping list, please FReepmail me.
AND, if you would like to be ADDED TO the FAIRtax ping list, please FReepmail me.
BTTT
Jared and Ivanka need to go back to New York.
Haven’t liked this Cohn fellow from day one. And to think the liar media floated him as in line to be Fed Chair.
I’d be so happy if Rs rammed it thru like Dems rammed 0bamacare....
You owe me $5. I tell you to pay me $4, and keep $1 to pay the rent.
Both are examples of how the government subsidizes behavior. They are the same thing. One is a direct payment, one is indirect. If you own a house and are taking the home mortgage deduction, you are getting a government subsidy. I'd say get a clue, but I'm not sure your are capable.
But I don’t OWE you anything.
You’re stealing it at the point of a gun.
In all scenarios.
So would I!
I’m looking for leaders!
VP Pence apparently will not press the FAIRtax, even though he was a co-sponsor when he was in the House.
Rep. Kevin Brady, House Ways and Means Chairman was a co-sponsor until he became Chairman. Where is he?
Somebody needs to stand up to the establishment and push FAIRtax through!
A FRicking Uniparty Establishment LIEberal!
Works for me!
President Trump needs to keep his own counsel, or if unable, give me a call!
Fer shure! Fer shure! We need a debater about more than rearranging the deck chairs on the Titanic or kicking the can down the road or nibbling around the edges!
That buncha whimps best do what is right for America!
FAIRTAX!
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