Replies

>>>From what I understand Trump wants #5. Brackets of 1-5-10-15.<<<

This is what he said in an interview recently.

Trump is not taking the same liberal line, if you actually listen...Bernie Sanders has said he wants to tax the rich at 90%. Current rates are higher across the board than what Trump is proposing, but many of the more wealthy individuals use loopholes, write offs and tax shelters to avoid most of what they should actually be paying.

I’m not a huge fan of his graduated plan, 10 or 15% for everyone seems fair, with an exception for those making minimum wage or under a certain per year level, who would get a tax break of some sort. After all, the current minimum wage is not exactly a good living. Yes I know, most are not trying to support a family on minimum wage, but for the very lowest level of the pay scale it might be good to give them a bit of a break.

Trump has also said he wants to close the loopholes allowing wealthy individuals to avoid paying taxes, which is one of the biggest problems, simplify the tax code in general and get the rich to actually pay their fair share rather than using every loophole and tax shelter in sight to avoid paying anything at all.

Unless I’ve been hearing the wrong stuff for a long time, what he’s doing would actually lower tax rates across the board, eliminate loopholes for people like hedge fund managers, and simplify the tax code.

I haven’t heard what he plans for corporate gains tax, from what I’ve heard so far it’s around 40 to 45%, which is one of the reasons corporations are leaving the country.

I’m also wondering about another thing, a report I heard over a year ago was that one company, Google I think, funneled 85% of their total profits to a shell corporation in Bolivia, (I think that was it) where they pay no corporate taxes, and ended up paying a 3.5% overall tax rate. I’m wondering if he’s planning anything to minimize that kind of thing. After write offs and loopholes paying 3.5% is how many corporations are screwing the country. They want to do business here and make as much money as possible, and leave the tax burden to the working folk...

In general it sounds pretty good, I don’t think Trump is taking a liberal stance on taxes, he’s not saying tax the rich at 90% like Sanders, and when he says “the rich”, he means exactly that, not $250,000 and up which is the general level most liberals, especially Obama, consider “rich”...that includes most of the small business owners in the country, and the last thing we need to do is to tax them out of existence. We don’t have jobs already...

“This is sheer genius. Trump is cutting the legs out from Sanders and Warren.”

Agree, it is BRILLIANT. I’m sure you understand the slippery slope of higher taxes as well as I do, but when you’re talking about people making $100M a year, it’s hard for most Republicans to support them paying lower taxes than themselves, just because that’s the way today’s tax code works.

The people making $100M need to SPEAK UP and explain why their taxes cannot be touched. Maybe they have a case, but instead they simply BRIBE politicians from both parties to quietly leave them alone. If they will not (or more likely can not) defend their tax rates, then they need they need adjustment.