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Trump tax plan has $12T price tag, study finds
The Hill ^ | 09/29/2015 | Bernie Becker

Posted on 09/29/2015 12:44:11 PM PDT by GIdget2004

GOP presidential front-runner Donald Trump's tax plan would cost just under $12 trillion over a decade, according to an analysis from a conservative-leaning group.

The Tax Foundation found that Trump's proposal would lose around $10.1 trillion when accounting for the potential economic growth that would be spurred by the tax changes.  The $12 trillion figure comes from more traditional scoring methods, akin to those employed by official federal scorekeepers. Trump himself has said that the plan — which slashes the top tax rates for both individuals and all kinds of businesses — won't add to the deficit.

But after the billionaire businessman released his plan, tax analysts were quick to question that claim and said that the top 1 percent of earners would be most likely to gain under Trump's proposals. Trump had said for weeks that his plan would go after Wall Street types who paid little to nothing in taxes.

The Tax Foundation found that the top 1 percent of earners would see their after-tax income rise between 21.6 percent and 27 percent under Trump's plan. The bottom 30 percent of taxpayers, on the other hand, would gain anywhere from 0.6 percent to 11.5 percent in after-tax income.

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


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: trumptaxplan
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To: ilovesarah2012

As far as I know Conservatives don’t refer to tax cuts as costing anything.


61 posted on 09/29/2015 1:41:08 PM PDT by TalBlack (Evil doesn't have a day job...)
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To: GIdget2004

Try scoring in in conjunction with a 12 Trillion reduction in welfare programs.


62 posted on 09/29/2015 1:41:56 PM PDT by 1Old Pro
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To: mkjessup

“I’m surprised that Karl Rove hasn’t asked for equal time on Faux News to say that Satan has gotten a bad rap over the years. “

Rove should know, he LIVES it.


63 posted on 09/29/2015 1:47:12 PM PDT by stephenjohnbanker (My Batting Average( 1,000) (GOPe is that easy to read))
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To: GIdget2004

What if Trump really intended to work with a Republican Congress to radically cut taxes and spending? That would come as quite an interesting surprise—a welcome surprise to many like myself, who would very much like to see those cuts along with numerous department closings and cuts against pork to useless local regulatory offices and public education propagandists.


64 posted on 09/29/2015 2:02:14 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: GIdget2004

Cutting spending on millions of tyrants at every level of government to make way for millions of men’s production jobs in the private sector. Imagine that.


65 posted on 09/29/2015 2:04:27 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: stephenjohnbanker
"The whole Trump tax program will create millions of jobs. Moreover, it will likely create American manufacturing jobs on a large scale."

Regulatory offices at every level of government would need to be closed. Sounds good.


66 posted on 09/29/2015 2:06:34 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: GIdget2004
If you look at Federal revenues over a long period, it doesn't seem to matter what marginal rates are, ever year Uncle Sugar collects more than the previous year.


67 posted on 09/29/2015 2:10:13 PM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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To: familyop

We need to fire 500,000 federal employees. They need to work for a living like everyone else.


68 posted on 09/29/2015 2:16:07 PM PDT by stephenjohnbanker (My Batting Average( 1,000) (GOPe is that easy to read))
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To: GIdget2004

Cost???

What does that mean and what are their assumptions?

These are the same commies who always provide numbers that are , “unexpected”.

Anytime tax rates drop the inflows to government go up.


69 posted on 09/29/2015 2:20:09 PM PDT by CincyRichieRich (1984 Now)
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To: stephenjohnbanker
"We need to fire 500,000 federal employees. They need to work for a living like everyone else."

I would like to see it go much further. State and local regulations, fees, little tyrants and their racketeering associates do stand in the way of many thousands of potential new, small production starts. "Open space" is wasted space. ;-)

Heavy Hitters: Top All-Time Donors, 1989-2014
http://www.opensecrets.org/orgs/list.php
American Fedn of State, County & Municipal Employees $60,949,129 [Democrat] 81% [Republican] 1%”

Leviathan (Uncle Sam employs more people than you think)
National Review ^ | 02/03/2011 | Iain Murray
"...nearly 40 million Americans employed in some way by government."


70 posted on 09/29/2015 2:25:37 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: familyop

Open secrets is a great source for people if they would take one or two hours after a football game, and read it. I have used it for years.


71 posted on 09/29/2015 2:37:09 PM PDT by stephenjohnbanker (My Batting Average( 1,000) (GOPe is that easy to read))
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To: GIdget2004

“Cost?”

Eff you a-holes! It will GIVE BACK 12 trillion to the TAX PAYERS!


72 posted on 09/29/2015 2:46:04 PM PDT by TalonDJ
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To: GIdget2004

The assumption that government has an effective right to the current confiscatory levels of taxation, and that therefore any reduction is a ‘cost’ to the government tells me a lot about the source...


73 posted on 09/29/2015 3:25:39 PM PDT by BlueNgold (May I suggest a very nice 1788 Article V with your supper...)
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To: DoughtyOne

That will be gone. Just watch.


74 posted on 09/29/2015 4:56:45 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: LS; DoughtyOne

There is a 10% tax rate provision for repatriating funds from overseas.

*******

That will be gone. Just watch.


????

This is lower than they would pay, otherwise (30%). This 10% will help bring back monies/companies to US. It’s what Forbes, et al, have been suggesting for years....to get companies/jobs back.

I may be missing something in your post, LS.


75 posted on 09/29/2015 5:01:45 PM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: Georgia Girl 2
There will still be FICA, self-employment, capital gains etc., etc.

A lot of people pay more FICA and self-employment tax than they do income tax. FICA (7.65% employee half + 7.65% employer half) and self-employment (15%) is a percentage of the gross (capped at, I think around $95,000). The income rax is a percentage of the adjusted gross (taxable) AFTER many possible deductions, some deductions would be eliminated with Trumps plan.

There are no deductions before FICA and self-employment taxes are calculated.

Don't worry about "skin in the game", there will still be too much as far as I'm concerned.

If you want to pay more, go right ahead.

76 posted on 09/29/2015 5:03:02 PM PDT by lewislynn (Meghan Kelley...#sand--Rosie, the Don was right-- Hillary, lipstick on a pig)
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To: Jane Long

I thought you meant there was a 10% surcharge.


77 posted on 09/29/2015 5:06:24 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: stephenjohnbanker; LS
“Static calculations. Sorry, but merely a Trump VICTORY would spur investment and growth like you haven’t seen since 1981.” Yes, now watch the hard left make up lie after lie.

Static and dynamic analysis. From the article:

"The Tax Foundation found that Trump's proposal would lose around $10.1 trillion when accounting for the potential economic growth that would be spurred by the tax changes.  The $12 trillion figure comes from more traditional scoring methods, akin to those employed by official federal scorekeepers."

78 posted on 09/29/2015 5:12:02 PM PDT by semimojo
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To: semimojo
Yeah, but it depends as always on what, exactly, they said would occur in their "dynamic" analysis. They said Reagan's tax cuts would lost money. WRONG. They produced between 40-60% more revenue than before because the assumptions of the "dynamic" scoring were wrong.

In fact, they almost are wrong all the time. No one, not even Andrew Mellon, would have predicted his tax cuts in 1921 would have led to 1.6% unemployment in 1926. Utterly unheard of in the modern industrial world.

79 posted on 09/29/2015 5:14:53 PM PDT by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: familyop
What if Trump really intended to work with a Republican Congress to radically cut taxes and spending? That would come as quite an interesting surprise
Where have you been? Trump is not your problem here. The problem is finding the "Republican Congress to radically cut taxes and spending"...

We had a Republican president with a Republican house and senate not that long ago because we were told that's what we needed...What did we get?

WE GOT SCREWED with increased spending, debt and then ridiculed.

80 posted on 09/29/2015 5:15:17 PM PDT by lewislynn (Meghan Kelley...#sand--Rosie, the Don was right-- Hillary, lipstick on a pig)
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