You are talking about marginal tax rates, and I am talking about effective tax rates. If you lower the marginal rate, but eliminate deductions, you end up with a higher effective tax rate (the amount they actually pay). That is a tax increase.
What rate should the millionaires and billionaires pay? Do you want the wealthiest to pay less (rate wise) than the middle class? If your answer is just Fair Tax or Flat Tax, neither is going to happen in this election. So let’s get real here.
If we want to get real here, the chances of Trump's proposal getting passed is not much better than the Fair Tax or a flat tax.
I will take lower income taxes for everyone and no one being able to deduction themselves below what middle class have to pay because of loopholes. I think the lower income workers should pay some income tax too but Trump’s plan exempts them.
Your statement is self-contradictory. You say you want lower taxes for everyone, then say you don't want high-income people to take deduction to lower their income taxes below what a middle income taxpayer pays. But if that higher income person is already paying less, then you obviously want his taxes to go up - right? So you really don't want lower taxes for EVERYONE. And if everyone actually paid less in taxes, the plan would not be revenue neutral, which would explode the deficit and the debt.
Oh really and where did you see Trump said all the deductions would be eliminated and any group of taxpayers would be paying more taxes than they are now? You are speculating to be negative, I will stick with what we know now which is lower taxes for every group and no more free ride for those who use IRS loopholes to pay close to nothing. AND no I don’t want someone earning millions or billions to pay less tax than the middle class. Let them pay their fair share. If someday we get a Fair tax great, meanwhile I support this tax plan.
That's by static analysis and a lib talking point to be sure. Tax cuts designed to grow the economy can increase revenues nicely. See: Reagan. (The problem in the '80's was that Reagan failed to control spending.)
There is actually NO good reason why growth in the US can't be on a par with China's. We even have the benefit of less corruption - so far...
A lot of this **** needs to go out the window, too:
http://thesouthern.com/news/local/chaos-in-cairo/article_2dcf027e-e465-552a-a71f-fd8085941b6e.html