TRUMP: SIMPLIFY TAX CODE WITH ‘INTELLIGENCE,’ ‘REDUCE TAXES,’ WON’T GIVE WHOLE PLAN YET

Breitbart ^ | August 11, 2015 | by IAN HANCHETT

[Kit cat]

I am VERY MUCH in favor of a consumption tax!!! EVERYONE pays!!!!

[Abby4116]

Of course, there will be less public money going out IF the illegals are sent home. I think I have seen the figure of 2.9 (in 2012) billion cost in Maryland alone.

[xzins]

No real Conservative should defend any form of the income tax. Consumption based taxes and tariffs are Conservative tax plans.

While I agree with what you're saying, I also think we need to deal with the reality we have and not with the reality we'd like to have. Right now we have an income tax, and anything to improve that is positive so long as it would not stand in the way of an imminent change to a consumption tax. You go to war with the Army you have.

[CPT Clay]

Won’t give whole plan yet.... nor will he ever

[sten]

someone needs to drop him a line and let him know the numbers don't add up.

if you do the math, and i did, his plan will net about $500b in tax revenue.

this is far short of the $3+ trillion in tax revenue the US raises annually now (and spends about $4.5 trillion)

[Truthsearcher]

Not that it would add up but isn’t a huge part of the tax revenue from corporations?

[sten]

technically, corporations pay ALL taxes, as that’s where individual income comes from.

for this year, it’s expected to hit $3.18 trillion in revenues.

- 47% from individual income tax ($1.5 trillion)
- 34% from payroll taxes paid by workers and employers ($1.1 trillion)
- 11% corporate taxes ($342 billion)

https://www.nationalpriorities.org/budget-basics/federal-budget-101/revenues/

if the US followed countries like the Netherlands and didn’t tax corporations, then we’d have a massive influx of money as the offshore accounts would be moved back onshore (more stable economy... in theory). it’d be worth the 11% tax revenue as it would shore up the banks... but it would also increase the amount available for corporations to spend. it could end up increasing individual income tax quite significantly.