I thought Trump already has a fair tax plan of sorts already out there. I don’t know what the uber rich pay, but it didn’t seem out of line to me.
Something change?
He is pointing out that people running hedge funds have a loophole where their “salary” isn’t a salary but categorized as capital gains, so they are only paying 18%. I agree with him on this point.
It’s not raising taxes, it’s taking away an unfair loophole.
Trump is not consistent on anything. ANYTHING.
A FAIR TAX but taxing rich people and tariffs... other taxes he proposes..
If you have a fair tax other taxes are not supposed to happen..
UNLESS your talking about “a FAIR TAX” that allows UNFAIR taxes also...
WHat a concept.. passing a FAIR TAX.. and UNFAIR TAXES as well..
Who would ..DO.. that except someone dyslexic or someone that knows most people “are fine” NOT reading the fine print.. Apathetic and LAZY..
DO whats normally done in Washington D.C.. pass legislation NAMED to be against “something” with riders to actually accomplish the reverse of what it is named.. Whoa..
In just this way the “FAIR TAX” could be used to pass extremely UNFAIR TAXES.. people will never know.. except for a few that do care..
He’s talking about taxing hedge funds types who make MILLIONS of dollars a year and pay less in taxes than the average American... could be percentage... Anyhow it’s NOT like the dems who talk about ‘taxing the rich’ and they really mean the middle class. In Trump’s world ‘rich’ means ‘rich beyond imagination’ for most of us... Rich like we’ve never met people with that much money... Basically Trumps taking RICH LIBERAL ELITES... then he’s still tilting somewhat toward a flat tax...
I prefer the uber rich pay less taxes, more money to put into the economy (and yes we do do that).
I think what angered a lot of people was when the billionaire owner of Berkshire Hathaway pointed out that his secretary pays a higher rate of taxes than he does because of low capital gains rates. Also, it is well known that some big companies pay NO taxes. From 1940 and most of the next 25 years the top rates were over 90%. See the link below for an excellent graph on the top rates history in the US. Perhaps someone can actually post it here, that is beyond my computer skills.
http://www.businessinsider.com/history-of-tax-rates