Posted on 09/15/2015 9:59:37 PM PDT by entropy12
Conservative Presidential candidate Donald Trump is a smart businessman. He works hard, and does whatever he can to pay the minimal amount of taxes to President Barack Obama.
Now, as Trump announced in his book “Time to Get Tough: Making America #1 Again,” we learn Donald Trump’s bold and specific plans to completely restructure America’s tax code. And after the changes are made, every American will end up paying lower taxes.
Called the “1-5-10-15” income tax plan–this will likely form the basis of his presidential campaign. Tax proposals consist of the following:
* Those making up to $30,000 will pay 1 percent.
* Income from $30,000 to $100,000 results in a flat 5 percent.
* $100,000 to $1 million income will be taxed at 10 percent.
* On $1 million or above will be taxed 15 percent.
(Excerpt) Read more at thepoliticalinsider.com ...
EVERYONE needs to pay some taxes!! EVERYONE!
If you add up All the many taxes and hidden taxes most people pay over 60% of their income to the government in taxes
If Trump gets the nomination then it will be fun to see all the TDS’ers here start getting the ZOT. LOL
No one’s paying less. It’s just a progressive flat tax. And, some that are smart and rich are paying nothing now - there’s no more special kinds of income, special kinds of industries, special kinds of campaign contributions. Most importantly, everyone has to pay SOMETHING. All the states with sales taxes make everyone at least pay something, likewise the feds should too. How easy it for all the Peters that pay nothing to rob from the Pauls that pay 80%? At least 1% of $30,000 is $25 dollars a month to pay for national defense, the roads, bridges, medicaid, etc etc etc. That alone would be the greatest incentive to change voting patterns ever. It’s like 150 million people!
I thought Trump said he wanted to raise taxes on hedge-fund managers? Yet another flip-flop.
But the key would be the corp rates. We have to draw back the $2 trillion in parked offshore money.
If that is passed then then all income would be taxed, and no "earned income benefits" would occur and the lower income people that are free riders would now join the tax rolls.
Do you realize that if all income above a million is taxed at 15% that the revenue would increase. Most income above a couple of million is sheltered or offset with various loopholes and cut out.
Why do you think there are 77,000 pages in the tax code? There are three rate pages and 76,997 pages of exceptions.
I'll take that bet, how much?
The jump from making 99,000 to 100,000 would be a little tough the first year.
Put Big Tax Return Business out!
Many here, who claim to be "principled conservatives" will say it's still a progressive tax and not up to their standards despite it being a huge step in the right direction. I like his plan as it engages all into the system which will make them invested in the system and insure that they also have money in the pot when it comes to voting for "free stuff" for those who won't work at earning their own way.
GO CRUZ!!! Keep it up Trump!!
EIC is mostly for people with dependent children. You can get EIC with earnings up to $51K.
It really was designed to keep people at a certain level and dependent. I’ve known workers who did not want raises because they did not want to jeopardize the refund, which can be several thousand dollars if you work it right. So sadly it discourages people from climbing the ladder. Secondly, as you know everyone on the books gets taxes taken out. So what happens on tax day, is a question of how much of that you get back. So it amounts to an annual bonus. If you don’t make much money this “bonus” is very attractive, and makes you more accepting of your bad position on the ladder.
The government takes in trillions in tax dollars annually. There is no shortage of money. There is more than enough money for everyone to pay way less taxes and everything get done that needs to get done and the country to be debt free.
I would like to point out that Trump has not formally announced his tax plan. Until he puts it on his website like his Immigration Plan, I don’t believe what anyone says lol
I have seen up to 6k with EITC and the “refundable” child tax credit which is $1k per child.
Top EITC is around 3.6k.
As a tax preparer, I am all for a flat tax without the myriad of deductions.
Just remember to put a few bucks in my cup when you see me panhandling on the street.
Crappy plan. Why penalize with hard breaks. Computers are everywhere, why not a graduated plan going out 2 decimal places so there isn’t a big penalty for $1.
If you do not understand how FICA works, then you should stop posting about it until you look it up.
The two taxes go to different places. They are for different things. Your employer pays an additional FICA tax equal to yours.
The list goes on.
That is exactly my point. For my accountant to get that much for plugging in a few numbers into a software program that immediately produces 48 pages of crap nobody ever reads is humorous.
Point being that they’ll all be out of work. Seems the tax industry has expanded to these based on the ridiculous code.
Trump’s tax plan is one that we conservatives have been asking for, forever. It’s fair (everyone pays) and proposes MUCH lower rates than most of us are paying now. It’s “flat” within each segment of income.
Trump’s statement on the Kim Davis issue was that the law has to be followed. He says the same thing about our immigration problems. Do you disagree with him on that (immigration/follow laws)?
Is it perfect? No. Do I wish we could stop this nonsensical *law*? Yes. Trump has said he wants to stop the War on Christmas....against Christians. This tells me that he will do all in his power to afford Christians our religious liberties.
He’s pro-2nd amendment and wants to defund PP.
http://www.breitbart.com/video/2015/09/15/trump-i-would-vote-to-defund-planned-parenthood/
It’s funny. Trump’s history seems to trump any and all conservative proposals he is making to turn this mess around, yet the TDS’ers on this forum ignore the ONE person who CAN do this (polling numbers, guts to do and say what it will take).
That’s like denying someone like Reagan to do what he did for the country and conservatives, because of his history.
Denying our country a chance to turn back the destruction of the last two decades, imo, is ushering in something worse than the socialism that has firmly grasped us, with it’s claws.
What I wrote:
“But if everyone DID pay less, that leaves an even bigger deficit - unless spending is cut. Anyone want to bet on that?”
What you wrote:
“I’ll take that bet, how much?”
So - you REALLY believe that if everyone pays less in, and spending isn’t cut, the deficit will go away? Or are you saying you are willing to bet spending will be cut by more than the reduced taxes? By the GOP-E in Congress, or by the Democrats?
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