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Gone are the days of sophisticated tax plans offered by international accounting and law firms to their wealthiest clients which the IRS, with the benefit of hindsight, categorized as “tax shelters”. So why is Commissioner Koskinen raising the flag upside-down in a signal of distress in March of 2016? Tax practitioners all around the country know exactly why. Too many taxpayers and a handful of unscrupulous “tax practitioners” are taking advantage of the almost absolute absence of tax enforcement by the IRS. Yes, “Joe the plumber” and other average taxpayers know that no-one is minding the store. What happens when...

His newest foreign policy advisor, Frank Gaffney, is a key player in the effort to remove Grover Norquist from the organization's board. Ted Cruz named Frank Gaffney his foreign policy advisor on Thursday, a move that threatens to involve the Republican presidential contender in a contentious fight to get the party's most prominent anti-tax advocate kicked off the National Rifle Association's board. Gaffney once worked for President Ronald Reagan's Department of Defense and now runs the Center for Security Policy, a hyper-conservative think tank that promulgates theories about a Muslim Brotherhood conspiracy to infiltrate the U.S. government. The Southern Poverty...

It's America's favorite pander. Pledging to abolish the Internal Revenue Service is only slightly less attractive than promising unlimited, consequence-free sex with the partners of our choice. Nobody likes the IRS, and eliminating it entirely will surely resolve many, many sleepless nights for too many Americans, especially at this time of year. So, it's no wonder why Ted Cruz is promising to abolish the IRS. It's such a crucial aspect of his platform that he mentioned it twice during his Super Tuesday victory speech in Texas because, for middle-aged Republican voters, it's way better fapping material than naked pics of...

Warren Buffett bemoaned the “negative drumbeat” on the U.S. economy from presidential candidates in his annual Berkshire Hathaway Inc shareholder letter on Saturday, saying they are misleading Americans into believing their children will be worse off than they are. “It’s an election year, and candidates can’t stop speaking about our country’s problems (which, of course, only they can solve),” Buffett wrote, italicizing “they” for emphasis. As a result of their dour outlook on the U.S. economy, many Americans now believe that their children will not live as prosperously as they themselves do, the 85-year-old Buffett said. “That view is dead...

As Donald Trump picks up momentum, the chances of a well-funded assault to block him from the Republican presidential nomination are dramatically dwindling, according to interviews with about a dozen donors and operatives who are appalled by the billionaire real estate showman's campaign. The party's elite donor class has mostly closed its checkbooks to groups dedicated to stopping Trump, while the outfits that have built massive reserves are increasingly deciding to forgo anti-Trump campaigns, despite widespread fears that he is making a mockery of conservatism and could undermine Republicans up and down the ballot. The deepest-pocketed operation on the right,...

Wednesday on ABC's "Good Morning America," Republican presidential front-runner Donald Trump told co-host George Stephanopoulos some of his first-day priorities should be elected president of the United States. Trump, coming off a win a night earlier in the Nevada Republican Caucus, said rolling back President Barack Obama executive orders, including one dealing with the border and immigration, repealing ObamaCare and taking care of the veterans would be his priorities. "Well, the first thing I'd do is knock out some of the executive orders signed by our president," Trump said. "Especially the one on the border where people are allowed to...

The Goals Of Donald J. Trump's Tax PlanToo few Americans are working, too many jobs have been shipped overseas, and too many middle class families cannot make ends meet. This tax plan directly meets these challenges with four simple goals: Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs,...

Polls regularly show that investor Warren Buffett is one of the most trusted men in America. What a crock. The man is an imposter, a four-flusher and a humbug. And I can prove it. If you’re skeptical, maybe that’s because - like mushrooms - you’ve been kept in the dark and fed a lot of horse manure. Too many people believe what they hear in the mainstream media. They listen to the lying politicians - that’s 98% of them - in both parties. And they swallow a lot of nonsense from self-styled investment “experts.” (I’ll have a lot more to...

"There is always a well-known solution to every human problem--neat, plausible, and wrong." This comes from H.L. Menckin. "There is always a politician trying to convince you that tax reform is easy, you should be able to do your taxes on a postcard and we should be able to abolish the IRS." This quote comes from me and I suggest this is proof that H.L. Menckin was right. Tuesday's economic debate on Fox provided various tax proposals including a flat tax, elimination of the estate tax, the postcard tax return and the abolishment of the IRS. Let's tend to these...

Post-Obama tax reform for the 21st century. The Republican Party woke up new and fresh, and ahead of the curve, yesterday morning, leaving the Democrats stale and old back in the 20th century (Keynesian 1930s), if not the 19th (1870s, when Marx was new and cutting edge).History books will note the turning point of the 2016 election as the evening of October 28, 2015. At the Republican debate that night in Colorado, Texas Senator Ted Cruz emerged from the Republican Presidential field as the modern 2016 embodiment of Ronald Reagan.The tax reform plan he unveiled at that debate is as...

Washingtonians agree almost universally on two political phenomena: The House Republican conference is ungovernable, and tax reform is dead That was yesterday. In a matter of days we will have Speaker Paul Ryan, whose track record shows a man that may make the impossible happen. This is based on three key assets. 1. Passion. With a vice presidential candidacy already under his belt, Rep. Paul Ryan declined to run for president in 2016 to devote all of his energy as chairman of the House Ways and Means Committee to his long-time true passion – tax reform. His passion derives from...

The official U.S. unemployment rate is 5.1% -- the lowest in seven years -- but Donald Trump calls that a "joke." On Monday, he claimed he'd seen numbers that show America's real unemployment rate is as high as 42%. How does he arrive at such a wild figure? Trump appears to be looking at the number of American adults not working. Period. Out of about 251 million American adults, roughly 102 million -- or 40.6% -- aren't working. But, of course, there are a lot of reasons people don't work. They could be disabled, in college, at home raising kids...

At Trump Tower, only a few blocks away from the meeting of world leaders at the United Nations, GOP presidential frontrunner Donald Trump announced his new plan to reform the U.S. tax code. After the main announcement, he took questions from the press. On how his plan would address income inequality: TRUMP: In terms of income inequality, we're going to create a lot of jobs. You know, right now we have a false [unemployment rate] 5.4%, 5.3%, 5.6%, every month it is different. It is such a phony number. Because when people look and look and look and then they...

Republican presidential candidate Donald Trump clearly prides himself in shunning focus-group research. He refuses big campaign donations that he asserts make his opponents beholden to special interests. He seems to target no specific constituency. Many pollsters remain puzzled by Trump’s political appeal. “Republican support for Donald Trump just continues to grow,” said Patrick Murray, director of Monmouth Polling after its August survey, “with no clear sense of who his constituency really is.” Yet a constituency is emerging. Trump’s strongest supporters, roughly a quarter of Republican voters across the polls, are not dissuaded by any increased media scrutiny of their candidate....

Donald Trump Claims The 'Real' Unemployment Rate Is 18%. Here's What Wall Street Says.After Donald Trump announced his latest bid for the presidency, I reached out to get details on Trump’s plan to replace Obamacare, and posted that interview on FORBES last week. But for many FORBES readers, the most eye-catching part of the interview wasn’t Trump’s plan for health care. It was what the Trump campaign said about unemployment. “Mr. Trump believes that the real unemployment rate is over 18%, not the reported 5.5%,” a spokesperson told me. Trump’s distrust of the government’s job statistics isn’t new. In July,...

This is a HTML LIST version of full text of TAX REFORM THAT WILL MAKE AMERICA GREAT AGAIN [Full text of Trump's Tax plan]. Personally I find it easier to get information when the entire document is in a kind of outline format. Hover underlined words for definitions.

The plan calls for eliminating federal income taxes on individuals earning less than $25,000 and married couples earning less than $50,000. If you fall under the no tax bracket you'll get to send a one-page letter to the IRS that says "I Win," Trump said. But the plan would also benefit businesses and the rich.

Stuart Varney hosts Peter Morici, Charlie Gasparino, Grover Norquist. Video Link

Republican presidential candidate Donald Trump's newly released tax plan was given a blessing Monday by the nation's biggest anti-tax advocate, Grover Norquist, who said it would produce "jobs, jobs, jobs." As Trump revealed his plan at a press conference, Norquist's influential Americans for Tax Reform released its review that Trump's plan is "consistent" with the advocacy group's "Taxpayer Protection Pledge." ATR said that the Trump plan overall budget neutral, and reforms some of the current tax code. On Twitter, Norquist wrote: "The @realDonaldTrump tax plan cuts business tax from 35% to 15%. This makes us competitive worldwide. Jobs. Jobs. Jobs."

September 28, 2015: At Trump Tower in New York City, GOP Presidential candidate and current front-runner Donald J. Trump unveiled his tax policy plan at a news conference.