Posted on 09/13/2017 1:54:15 PM PDT by nodwam
President Trump spoke after his bi-partisan meeting with members of congress and said that individuals in the middle class will definitely be receiving tax cuts, the corporate rate must be 15%, and the rich will either stay where they are or have a slight increase on their tax rate.
Wednesday morning Trump tweeted that congress must work swiftly in passing the tax reform package.
The approval process for the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress!— Donald J. Trump (@realDonaldTrump) September 13, 2017
"I think the wealthy will be pretty much where they are," Trump said at a meeting with lawmakers at the White House when a reporter asked if the rich will see higher tax rates.
"If we can do that, we'd like it. If they have to go higher, they'll go higher, frankly. We're looking at the middle class and we're looking at jobs," he added.
"More and more we're trying to work things out together, and it's a positive thing and it's good for the Republicans and good for the Democrats," Trump said.
Trump is doubling down on the 15% rate for corporations and 'focusing' on the middle class, but after meeting with democrats including Pelosi and Schumer the president appears to have conceded on any tax cut for the wealthiest Americans.
.@POTUS: “I think the wealthy will be pretty much where they are, pretty much where they are…If they have to go higher, they’ll go higher." pic.twitter.com/JVolMfxeTV— CSPAN (@cspan) September 13, 2017
I'd rather see them taxed at a lower rate on their gross. Watch how quick the expensive perks like country club memberships, gourmet meals at pricey restaurants and all the other tax write-offs would disappear. That would leave more money for REAL investments.
I’m done already. As one of the favored few that pays the majority of taxes, I’m so pleased that my rates may go up. Whatever he defines as wealthy it will be way too low.
Not all the people who pay the high taxes fall into the categories you mentioned, but I fully understand what you’re saying.
I’m sure the uber-rich liberals will still have their armies of high paid accountants and tax attorneys at their disposal.
Don’t know where you live but around these parts yes, that would be considered wealthy.
About 1 million small businesses in the US employ around 25% of the work force and those business generally make $250K and over.
These are not the companies sending jobs oversees.
So I should have my taxes increased as a hard working American that pays my own way for everything and sends nothing overseas? May you have to pay taxes at my rate and have someone whine you should pay more.
Such a drama queen!
So will many members of my family but not me. That doesn’t sound conservative at all. And quite a few places now $250,000 is middle class.
Not if it’s a s*** sandwich.
“A. I don’t care if the rich don’t get tax cuts. So they might not get to be super-rich instead of just rich. Cry me a river.”
___________________________________________________________
I’m more concerned about hard-working middle class business people who become successful in the future, aka wealthy, and now they have to pay higher rates than the individuals who have been wealthy for many years, including Donald Trump.
At least do income averaging for this group of people.
Unless you are in the group that actually pays the majority of taxes and get rewarded with higher rates
I hear you. I’m not throwing in the towel just yet but things are sliding down a slippery slope quickly.
I have been feeling like I’m producing way too much estrogen lately....
Might not be a bad idea.
Repeal the 16th Amendment.
Those who run small business proprietorships, partnerships, Sub-S corps, etc will get the biggest break through corporate tax reductions.
According to the IRS, about 30 percent of income taxes are paid by the “one percent” and almost 50 percent by the top 5 percent. Almost half pay nothing, and only 3.5 percent of the money is paid by the bottom 50 percent.
Roger that.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.