Posted on 10/22/2015 1:02:37 PM PDT by Helicondelta
“Why not just propose cutting the corporate tax?”
that wouldnt be PROGRESSIVE
“Why is raising taxes on American companies a good idea? That’s what Icahn is proposing.”
WTF OVR!? How do you read that? Did you actually read Trump’s tax plan? He calls for LOWERING the corporate tax rate! Other than a one-time tax on the returning money, under Trump’s plan, American corporations would have the lowest tax rates in the world!
From THE TAX FOUNDATION:
http://taxfoundation.org/article/details-and-analysis-donald-trump-s-tax-plan
KEY FINDINGS
Mr. Trump’s tax plan would substantially lower individual income taxes and the corporate income tax and eliminate a number of complex features in the current tax code.
Mr. Trump’s plan would cut taxes by $11.98 trillion over the next decade on a static basis. However, the plan would end up reducing tax revenues by $10.14 trillion over the next decade when accounting for economic growth from increases in the supply of labor and capital.
The plan would also result in increased outlays due to higher interest on the debt, creating a ten-year deficit somewhat larger than the estimates above.
According to the Tax Foundation’s Taxes and Growth Model, the plan would significantly reduce marginal tax rates and the cost of capital, which would lead to an 11 percent higher GDP over the long term provided that the tax cut could be appropriately financed.
The plan would also lead to a 29 percent larger capital stock, 6.5 percent higher wages, and 5.3 million more full-time equivalent jobs.
The plan would cut taxes and lead to higher after-tax incomes for taxpayers at all levels of income.
...
Conclusion
Donald Trump’s tax plan would enact a number of tax reforms that would both lower marginal tax rates on workers and significantly reduce the cost of capital. These changes in the incentives to work and invest would greatly increase the U.S. economy’s size in the long run, leading to higher incomes for taxpayers at all income levels. The plan would also be a large tax cut, which would increase the federal government’s deficit by over $10 trillion, both on a static and dynamic basis.
Please read the analysis in its entirety.
Carl Icahn is not exactly a conservative. In fact, he’s a step below trial lawyer, which he uses to blackmail companies. A Jewish Jessie Jackson.
Good we need a complete new direction in this country. Everyone else it will be the same ol’ shyte in Washington DC, some to a lesser degree than others but still the same shyte sandwich.
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