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 ...
Corporations should be the only legal entities paying income tax. USA citizens legally are not subject to _federal_income_tax_. Persons were made subject to this during WWII under the USConstitution, war powers. As such it ended two years later, or certainly after WWII.
Trump and his team, like DC are never going to return us to our rightful law, the USConstitution. Therefore, they have become lawless and they are violating our right to lawful government.
The GOP better get it done. The economy is starting to turn here based on good fiscal policy. If Congress screws it up, we may lose that momentum.
Unless the GOP fail to pass it.
I’m not laughing at that suggestion. The court is already high on its victories over the POTUS.
Republicans only care about deficits when Democrats hold the White House. And Democrats only care about deficits when Republicans hold the White House.
Insults are not liked on this site!
That nonsense would stop if Mitch McConnell had the backbone (yeah, I know...) to change the Senate rules to eliminate this absurd virtual filibuster, and make them do it the old-fashioned way. The filibuster was never intended to act as a permanent roadblock for any legislation the minority doesn't like.
And eliminate the Death Tax!
That kills farms
Amen, amen.
Any word on if that’s on the chopping block? TIA.
I hear it is in the plan.
Isn’t there a distinct difference between the stated tax rate and the EFFECTIVE tax rate on corporations after all of the deductions and loopholes are factored in?
From the GAO: “In each year from 2006 to 2012, at least two-thirds of all active corporations had no federal income tax liability. Larger corporations were more likely to owe tax. Among large corporations (generally those with at least $10 million in assets) less than half—42.3 percent—paid no federal income tax in 2012. Of those large corporations whose financial statements reported a profit, 19.5 percent paid no federal income tax that year”
https://www.gao.gov/products/GAO-16-363
Reason: very very low taxes, and no taxes on corporations or individuals.
Freeloaders kept chiseling until we got the current tax code disaster.
But nobody knows the priceless value of low taxes because teaching history is just about extinct, if not forbidden, in the skools.
drivel
The Tariff Act of 1789, was the first major Act passed in the United States under its present Constitution of 1789 and had two purposes as stated in Section I of the Act which reads as follows;
"Whereas it is necessary for that support of government, for the discharge of the debts of the United States, and the encouragement and protection of manufactures, that duties be laid on goods, wares and merchandise:"[1]
Fixed.
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