US National Debt
Posted on 09/30/2015 12:13:24 AM PDT by Berlin_Freeper
Donald Trump’s tax plan would cost a staggering $12 trillion over 10 years — despite his pledge not to increase the deficit, according to an analysis released Tuesday.
The Tax Foundation found that Trump’s changes to the individual tax code would reduce net revenues by about $10.14 trillion, after accounting for higher incomes due to an 11 percent jump in the gross domestic product.
The billionaire businessman’s corporate tax cuts also would bleed $1.54 trillion over the next decade, and his plan to dispense with the estate tax would cost $238 billion, the group said.
(Excerpt) Read more at nypost.com ...
Taxes don’t raise deficits. Spending does.
Of course it can. Cut back on Common Core and other worse-than-garbage federal programs, send home invaders and fill those jobs with US citizens, bring jobs back home and tax stuff from countries that manipulate money. Is there any chance the pundits factored all that in?
The media tried this crap during Reagans tenure as well. Wrong then, wrong now.
CC
We can’t let the government spend less money.
Of course, the same people attacking Trump’s tax plan are the same people unperturbed by our $18 trillion deficit.
When you suggest people keep their money, we hear cries that its too expensive.
Government spending up the wazoo on the other hand, is prudent.
US National Debt
The bad news is, government does not create jobs
The assumption is that spending will not be cut. I would toss that assumption.
JFK and Reagan both successfully cut taxes and raised revenues, got people working again.
The critics don’t know squat
http://www.forbes.com/sites/brucejapsen/2015/09/27/trumps-health-plan-revealed-on-60-minutes-sounds-like-obamacare/
thank god Trump is going to lower tax rates and take care of everone. wow build a wall too. say it can’t be done.
Tax plans are nothing but rearranging the deck chairs on the Titanic without a spending cut plan. You can partially offset tax rate decreases with growth, but for the most part tax cuts will have to be paid for with tax increases to others, or taxes on our children and grandchildren through more reckless borrowing. The key to legitimate tax cuts is drastically reduced spending.
I don’t see how we are going to cut Federal spending by the 35% needed to pay for tnese tax cuts while implementing the universal healtcare paid for by the government (i.e., the taxpayers) that Trump has proposed.
Tax plans are nothing but rearranging the deck chairs on the Titanic without a spending cut plan. You can partially offset tax rate decreases with growth, but for the most part tax cuts will have to be paid for with tax increases to others, or taxes on our children and grandchildren through more reckless borrowing. The key to legitimate tax cuts is drastically reduced spending.
I don’t see how we are going to cut Federal spending by the 35% needed to pay for tnese tax cuts while implementing the universal healtcare paid for by the government (i.e., the taxpayers) that Trump has proposed.
This talking point that the “government doesn’t create jobs” is as tiring and false as the “America isn’t a Democracy, it’s a republic” talking point. In reality, the government can do a lot to create jobs and economic prosperity.
Yeah, ok.
So I guess Ronald Reagan had nothing to do with the prosperity of the 1980s and, similarly, Jimmy Carter had nothing to do with the lack of economic prosperity of the 1970s? It just happened because the planets mysteriously came into the right alignment I guess.
Some other Trump Tax Plan Articles on FR:
http://www.freerepublic.com/focus/search?m=all;o=time;q=quick;s=Trump%27s%20Tax%20Plan
What a load of BS. It assumes current spending levels. Something tells me EPA will not exist under a Trump admin
The good news is, when the government cuts taxes, that’s exactly what it does.
It creates a business environment that will see increased jobs.
It’s a chicken and the egg thing.
If the government can kill jobs, and it undeniably does, then it can create them too.
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