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Trump Looks to Cut Corporate Tax Rate to 15 Percent
Townhall.com ^ | 4/25/17 | Leah Barkoukis Leah Barkoukis

Posted on 04/26/2017 1:46:13 AM PDT by socialism_stinX

President Trump has his eye on a corporate tax rate of 15 percent, even if that means adding to the national deficit, the Wall Street Journal reported Monday.

Trump reportedly told his aides to draft a proposal that could be presented to the American people this week.

But such a plan would be an extremely tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue, Politico’s Playbook notes. Plus, it could put future, permanent, tax cuts at risk.

(Excerpt) Read more at townhall.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: 115th; first100days; taxcuts; taxes; taxpolicytaxcuts; trump45; trumptaxcuts
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To: socialism_stinX

Until a judge on the Ninth circuit says it is unconstitutional to have tax rates below 35-39%.


21 posted on 04/26/2017 5:59:53 AM PDT by Hyman Roth
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To: central_va
Tax cuts in the 60's and again in the 80's ballooned Federal revenues. So what do you know? Jack squat.

Reagan tripled the deficit under his watch. After passing his tax cuts in 1981, the employment rate increased to 10.8%, taking several years for it to come down again. Yellen has already signaled that she's gradually raising rates, that's going to have more of an effect on the economy than anything Trump does.

22 posted on 04/26/2017 6:03:12 AM PDT by jimwatx
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To: CMailBag
During the last decade the RINOS helped Obama DOUBLE the national debt.

Because adding spending to "get the deal done" is much, much easier than cutting spending for any reason. Taxpayers lack the power to make politicians feel pain the way lobbyists do.

23 posted on 04/26/2017 6:07:19 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: jimwatx
Reagan tripled the deficit under his watch.

What an idiotic statement. Outlays are the polar opposite of revenue and have NOTHING TO DO WITH EACH OTHER. We are talking about REVENUE.

Federal revenue in 1960 = $92.5
Federal revenue in 1968 = $153.0
Over a 50% increase in revenue!

Federal revenue in 1980 = $517.5
Federal revenue in 1989 = $909.0
Over a 70% increase in revenue!

So the FACTS show that cutting taxes in the 60's and 80's increased revenue. So what do you got? Nothing.

Now you know the truth so stop spreading stupid lies and BS.

24 posted on 04/26/2017 6:14:39 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: FatherofFive

Only natural persons can pay taxes


25 posted on 04/26/2017 6:19:13 AM PDT by captain_dave
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To: central_va

The problem WILL NOT BE revenue. History already shows us that it will increase.

Here’s the real problem — WHAT THE GOVERNMENT WILL DO WITH THE INCREASED REVENUE!! <-— Those have always been the problem.

LBJ used the increased revenue to FUND his Great society Programs.

Congress increased spending under Reagan.

So, if your answer is — GOVERNMENT SPENDING WILL INCREASE BEYOND REVENUE, go to the head of the class.


26 posted on 04/26/2017 6:42:37 AM PDT by SeekAndFind
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To: central_va

You listed revenues taken in but not expenditures. In any event the federal debt tripled (from $997 billion to $2.85 trillion) under Reagan.


27 posted on 04/26/2017 6:43:05 AM PDT by jimwatx
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To: jimwatx
A tax cut affects REVENUES and not SPENDING. What are you some kind of financial idiot?

The deficits accrued in the 60's and 80's were alleviated somewhat by the tax cuts revenue stimulation if you want to go there.

28 posted on 04/26/2017 6:49:07 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: central_va
A tax cut affects REVENUES and not SPENDING. What are you some kind of financial idiot? The deficits accrued in the 60's and 80's were alleviated somewhat by the tax cuts revenue stimulation if you want to go there.

In no way were the deficits from previous decades eliminated, on the contrary the US went from being the world's largest international creditor to being the world's largest international debtor during his administration. Reagan himself said this was the biggest disappointment of his presidency. Your fixation on revenue generated while ignoring everything else makes no sense.

29 posted on 04/26/2017 7:02:10 AM PDT by jimwatx
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To: jimwatx

Tax cut have nothing to do with creating larger deficits because historically they INCREASE revenue. Are you mentally impaired? Sir are you OK?


30 posted on 04/26/2017 7:04:59 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: socialism_stinX
But such a plan would be an extremely tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue

ROTFLMAO!!!

What planet is this reporter living on?

31 posted on 04/26/2017 7:08:30 AM PDT by montag813
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To: central_va

This is your 4th post to me with a personal insult. I’m done with you and will leave it to the others on here to decide which one of us is “mentally impaired”. Good day.


32 posted on 04/26/2017 7:08:53 AM PDT by jimwatx
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To: jimwatx

Please get someone to do your financial planning and taxes for you. Don’t try it yourself.


33 posted on 04/26/2017 7:10:54 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: 9YearLurker

Needs to do a 15% flat tax on EVERYONE. No deductions, no tax forms at all, just deduct 15% from the paychecks and let it roll! Included in the bill needs to be a cap on increases as well.


34 posted on 04/26/2017 8:12:48 AM PDT by nobamanomore
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To: nobamanomore

That’s what I’d like.

Every time you carve out some little favorite for someone you not only burden the others more heavily, but you decrease the straight work incentive and you also distort the related market for the worse—e.g., the mortgage deduction is one disaster and the company-provided health insurance deduction is another.


35 posted on 04/26/2017 8:16:27 AM PDT by 9YearLurker
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To: montag813

So true.


36 posted on 04/26/2017 9:10:34 AM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: 9YearLurker

“Kudos to sticking to his campaign promises on this one.”

I consider it him sticking to promises until is actually passes - this year.

He needs to control Ryan and McConnell or he’s one term. I’m not voting for republicans anymore if they don’t do what they say they’ll do and get results.


37 posted on 04/26/2017 9:26:50 AM PDT by No Socialist
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To: onyx

From the article:

“tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue”

Is this a joke? I would have to say they FAILED.


38 posted on 04/26/2017 9:29:05 AM PDT by No Socialist
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To: onyx

From the article:

“tough sell to Republican lawmakers who’ve spent the last decade making debts and deficits a central issue”

Is this a joke? I would have to say they FAILED.


39 posted on 04/26/2017 9:29:33 AM PDT by No Socialist
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To: No Socialist

That’s totally fair.


40 posted on 04/26/2017 9:38:31 AM PDT by 9YearLurker
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