Posted on 09/13/2017 1:54:15 PM PDT by nodwam
President Trump spoke after his bi-partisan meeting with members of congress and said that individuals in the middle class will definitely be receiving tax cuts, the corporate rate must be 15%, and the rich will either stay where they are or have a slight increase on their tax rate.
Wednesday morning Trump tweeted that congress must work swiftly in passing the tax reform package.
The approval process for the biggest Tax Cut & Tax Reform package in the history of our country will soon begin. Move fast Congress!— Donald J. Trump (@realDonaldTrump) September 13, 2017
"I think the wealthy will be pretty much where they are," Trump said at a meeting with lawmakers at the White House when a reporter asked if the rich will see higher tax rates.
"If we can do that, we'd like it. If they have to go higher, they'll go higher, frankly. We're looking at the middle class and we're looking at jobs," he added.
"More and more we're trying to work things out together, and it's a positive thing and it's good for the Republicans and good for the Democrats," Trump said.
Trump is doubling down on the 15% rate for corporations and 'focusing' on the middle class, but after meeting with democrats including Pelosi and Schumer the president appears to have conceded on any tax cut for the wealthiest Americans.
.@POTUS: “I think the wealthy will be pretty much where they are, pretty much where they are…If they have to go higher, they’ll go higher." pic.twitter.com/JVolMfxeTV— CSPAN (@cspan) September 13, 2017
A 1% tax bracket for them.
That’s $25/month or less
Everyone should have skin in the game.
I would say proportional voting. You get 1 additional vote for every 5K you pay uncle sam. Brink you 1040 to the voting place and the can give out extra ballots to the high taxed voter.
I frankly don’t care how they define wealthy, as long as they index the damn thing to inflation.
Bingo! Because a “wealth tax” would hit the really big money, invested in every tax dodge they can find. One thing that should definitely be eliminated are the brazen tax havens of foundations. Every professional athlete, entertainer, retired politician and billionaire techie has a tax-free foundation to shield the family wealth unto the third and fourth generation. This often produces disastrous results, with the Kennedys being Exhibit A.
YES! Real tax cuts are possible.
Heh ... Eliminate the income tax (individual and corporate) and I won’t say a word against tariffs. To get there we need to cut out the vast majority of Fedzilla, which is unconstitutional.
And they're hypocrites and liars. If they want to pay more "taxes", they can write a check to "United States Treasury" and mail it to:
So ... why don't they?
That's largely a response to the Marxist death tax. It's the usual way to keep Fedzilla from taking your property away from your heirs when you die.
We will get a nothing burger if trump doesn’t deal. I had hopes for more when he was elected but spineless repubs in Congress will get him nothing. I trust trump will get us best deal with what he has got to work with.
Ryan and Mitch are the problem, the yuge problem trump has, not the dems.
Jack Kemp was the prime mover in the Reagan Tax cut. Reagan didn't not want 30% it was too much but the settled on a 10-10-10 over three years and called it 30%.
They also removed almost every tax deduction for the middle class and called it simplification. Remember there was supposed to be a postcard form that anyone could fill out, instead there are probably a 100,000 pages of tax code.
Congress will never make it simple because it is where they make the bulk of their under the table money.
http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
we can get squirrely here:
https://taxfoundation.org/summary-latest-federal-income-tax-data-2016-update/
Looking at Trump's past and campaign, I think it is safe to say the President is not a conservative in terms of ideology. He is pragmatic and seems addicted to the deal plus wanting to rub the noses of McConnell and Ryan in their own excrement. Tax cuts, infrastructure and a scaled down symbolic wall in exchange for Medicare for All and Immigration Reform?
In certain areas he is extremely Conservative, like the border, trade and tariffs.
If Buffet, Gates and Cuban want to pay more taxes, all they have to do is write a check to the U.S. Treasury.
Problem solved.
We’re looking at the tax burden of the middle class and state and payroll taxes are relevant in considering that.
I live in Maine.
Last November, there was a ballot initiative that, if approved, would have raised the Maine state income tax by 3 percentage points for people who make over $200,000 per year. The additional money was to be earmarked for “education.”
Our governor, conservative Paul LePage was opposed to this initiative, saying it would drive professionals, such as doctors, and businesses out of Maine. Maine has a shortage of doctors as it is. The governor also said that Maine is a “representative republic,” not a democracy.
Out of state money funded this initiative and it passed by a small margin.
Some doctors started to leave Maine right away. On the radio, there was a commercial paid for by a doctor saying his practice is now located in Manchester, meaning Manchester, New Hampshire, a state with no income tax at all.
The governor insisted that the Maine House and Maine Senate repeal this ballot measure, and he fought long and hard, and eventually got his way.....the ballot measure was repealed.
From things I’ve heard about this in the past, I think the figure is much higher than that.
again, those have no bearing on what the Pres. is working on..the Federal & Corporate Income tax.
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