Trump says 'major tax cut for middle-income people' coming in 10 days

.....food & then Gold .

 

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Trump says 'major tax cut for middle-income people' coming in 10 days

While I appreciate the idea, the country cannot afford it after the Corporate/Rich people version.

 

The European average? Does the European average include huge tax write-offs and capital gains tax reduction in addition like it does for the wealthy in our country? No.
All of a sudden Trump is giving the middle class a tax break to buy their votes when he should have done this instead of giving the wealthy that huge "tax reform" tax reduction. The national debt is soaring since he gave it away to the rich, and maybe he should increase the tax to the wealthy to fund the reduction for the middle class. Your president is a con and a phony. Why don't you question his motives? He certainly doesn't give a crap about your betterment, but he only cares about your vote. What a bunch of suckers you are.

 

I've mentioned this before, but I think it bears repeating.

Back in the 1950's when Eisenhower's government had the top personal marginal tax rate at 90%, corporations accounted for 30% of federal tax receipts. These days it's mid single digits. Corporations have very successfully managed to shift the burden of taxation. It may very well be that corporate tax rates are high in the US, but as you point out, very generous corporate tax breaks mean that the amount of tax actually paid is modest.

 

But, but, wan't the first tax cut one for middle income people?

In any case, Trump just trying to buy votes for the midterm, no surprise there. Given the attitude of his fans, I also wouldn't be surprised if it worked. They'll believe anything, even though there is no way in hel^ to get a tax cut through congress in 10 days.

 

How about if he signs an Executive Order for a middle-class tax cut and then blames the Democrats in the House and Senate for blocking its implementation, does that work for the GOP politically ?

 

Reminder;

Back in 2012, both Geithner and Lew estimated that renewing the Bush tax cuts would cost Treasury $3 trillion over 10 years, and/or $2.4 trillion over 10 years if said renewal would exclude the top 5%.

In other words, back in 2012, both Geithner and Lew estimated that Bush's middle-class tax cuts would not pay for themselves.





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It's classic Trump, throw out a statement so ridiculous and outlandish, only his most ardent followers could possibly believe this crazy BS. A new tax cut aimed at the middle class only, being worked on around the clock by Brady & Ryan - to be signed, sealed and delivered by Congress before the end of October?

 

I thought the last tax cut was for the middle class.

 

I'd laugh but it is not funny...

 

Yeah, also a classic posted by Zorro, who believes that tax cuts pay for themselves. You can't make this stuff up. The scary thing as there are tons of people like this who continue to fervently vote for people like Trump. trump knows that he can just easily buy their voted with dog whistles like this one.

 

It’s nice to have a president that actually cares about the working class

 

Being as most of the 1% inherited their wealth, and without doing any real work, use their wealth to extract the profit from other prople's work, they should be taxed at a much higher rate than the rest of us.

It doesn't seem like it gets enough attention, but the Republican Party primarily represents those who inherit wealth. Many conservatives come off looking like dupes, because the Republican efforts rarely help them. Yet if one follows everything the Republicans do, it is obvious, that their primary concern is to make life easier for people like tRump, and his offspring, at the expense of everyone else.

It was why it was so important for them to get crybaby Kavanaugh on the Supreme Court. A rich kid, who went to an exclusive school, and got into a top college, because of his grandfather. One who spent his youth as a drunken party boy, much like lil' George Bush, thinking he was entitled to a top position. He is sure to side with with his class, in court rulings.

 

I don't think that he can do that, without violating the constitution.

 

Do the math. In simple terms say one makes $100 dollars. If taxed at 35%, the state gets $35. If taxed at 20%, the state gets $20. If the taxpayer then invests their windfall of $15 and say increases it by 25%, the profit would be $3.75. Taxed at 20% that brings 75 cents which brings total tax receipts to $20.75, far short of the $35.

So, even at favorable economic growth rates, tax cuts always result in lower tax receipts.

 

It's democrsts that always say the middle class needs a tax cut then when they get one you say

"Jesus H. ****ing Kerrr-rist. Even a Texas housewife living in a trailer park knows she can't cut income and raise expenditures."

 

Why do Dems hate tax cuts so much? Why don't they want you to have more of the money you earned? Well it brings freedom, it brings happiness...the left doesn't want citizens to be free and happy....they want to keep you dependent and enslaved.

 

Don't know why you thought that. It was touted as a tax cut that would help US corporations compete in a global economy where other countries corporations had significantly lower taxes. Guess you weren't paying attention.

 

P

You get what you pay for.

 

So you agree that there is little difference between the fiscal responsibility of both the Democrats and Republicans?

The last paragraph of George Orwell's "Animal Farm" is similar:
"Twelve voices were shouting in anger, and they were all alike. No question, now, what had happened to the faces of the pigs. The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which."

 

One of my favorite scenes from Gremlins 2 "canned goods and shotguns" :

 

You kind of missed my point. Democrats scream for a middle class tax cut then when Trump makes noises in that direction they immediately call middle class tax cuts fiscally irresponsible. I'm making a political statement not a fiscal one.

 

Mostly I hear a lot of screaming from both sides. Not much of it makes sense to me. OTOH, what I find most amusing is how they flip-flop depending upon who is in office or in control of Congress.

 

This sounds like little more than election cycle rhetoric. Unfortunately, too many voters are content with being wheedled by fallacious promises...

 

I've only heard the left screaming for a middle class tax cut and now. I hear them screaming about maybe getting one.