Posted on 01/29/2016 1:23:39 PM PST by Citizen Zed
For a man who is running to "make America great again," Donald Trump's tax plan is exceedingly expensive. According to an analysis by the Tax Foundation, Trump's plan would add trillions to the national debt, more than the current sum added after seven years of President Obama's policies (via Weekly Standard):
When Barack Obama took office, America's national debt was $10.6 trillion. It's now $19.0 trillion -- an increase of $8.4 trillion in just seven years, or $1.2 trillion per year. One of the key reasons the Tea Party movement was founded was out of frustration with this skyrocketing debt. Yet Republican presidential candidate Donald Trump's proposed tax plan would increase the national debt by $10.1 trillion, according to scoring by the nonpartisan Tax Foundation.
(Excerpt) Read more at townhall.com ...
Linear thinkers just cannot grasp the relationship between tax rates and tax revenues.
Forget that it's still progressive and since he refuses to deal with SS and Medicare all growth in receipts to the Treasury will be wiped out before his first term is over.
Not to worry, he'll tweet an insult or two and the drone will line up behind him telling him how great he is.
Tax cuts need to be combined with spending cuts. So far Trump has said he would increase spending on the military, increase spending on infrastructure, keep Social Security and Medicare and Medicaid at their current levels, and provide health care for everyone. His proposals for cuts have been vague and wouldn’t come close to offsetting the new deficit much less reducing the current one. I think that under a Trump administration that $10 trillion figure would probably be optimistic.
Tax cuts need to be combined with spending cuts. So far Trump has said he would increase spending on the military, increase spending on infrastructure, keep Social Security and Medicare and Medicaid at their current levels, and provide health care for everyone. His proposals for cuts have been vague and wouldn’t come close to offsetting the new deficit much less reducing the current one. I think that under a Trump administration that $10 trillion figure would probably be optimistic.
He’s a big government guy, so I’d expect things to be expensive.
Reality us the government needs to be cut down 80%. Military and borders are the only things they should be looking after.
Trump Did NOT say he would keep Medicare the same, drugs would go competitive (change to current law)
Please post the detailed tax-plans of the other 10 candidates so we can make a comparison.
BTW, this Trump tax-plan hit pieces from The Tax Foundation is over 3 months old and was posted ad nauseam then.
You anti-Trump trolls just keep posting the same dirt over and over and over again. It’s really getting kind of boring, so please find some new dirt.
Regardless and whatever. Facts don’t matter.
You didn’t even read the article, did you? They are blaming deficits on tax cuts. Again. They also claim that Obama created 8.7 million jobs. Really? I’m supposed to take their analysis seriously? Do you?
“According to an analysis by the Tax Foundation, Trump’s plan would add trillions to the national debt, more than the current sum added after seven years of President Obama’s policies (via Weekly Standard)”
Reagan faced the SAME EXACT accusations when he proposed his tax cuts. What these liars try to hide is that tax reductions increase government tax revenue due to an expanding economy. Reagan got his tax cuts, and the amount of tax money flowing into government coffers probably doubled. Reagan also proposed cutting spending, but was usually overruled by democratic controlled Congress that loved to spend all the money coming in.
The story is that Reagan got his idea that decreasing taxes increased government revenue from John Kennedy, who got it from Konrad Adenauer of West Germany, who got it from Alexander Hamilton, who got it from Joseph in the Book of Genesis.
We hear a lot about what is conservatism. Cutting taxes has always been avery conservative concept.
I read his tax plan - who cares about the article.
His plan is progressive - he’s stated over and over again he likes the progressive system. He also stated that part of his fix for Medicare would be for the gov’t to pay pickup the slack for the drug companies when he goes after them for pricing like Hillary and Bernie would, so the lower rung gets them absolutely free. His words, “very non-Republican.”
His tax plan won’t create any growth if he’s not willing to scale back SS and Medicare. The deficits will rise naturally with that plus after the first shot in the arm of is tax plan peeters out the number will be well north of $20T.
Don’t confuse the Trump Chumps with facts and details!
Scale back Social Security? What candidate is proposing to do that?
Why Social Security and Medicare? Those have their own tax plan. Why not totally eliminate every social welfare program like food stamps? or the farm program? and while were at it, slash military spending.
btw, I’m all for ending the Social Security program. Just refund my $250,000 plus interest for the past 40 years and I’m good with it.
Big difference between Trump and bozo: If Trump does something that doesn’t work he will try something else.
I'm with you all the way problem is you can't kill the beasts, you core them out.
Reality is for SS they need to raise the age limit for all those born less than 50 years ago (even more aggressive than proposed) and go the Savings account route. This will stem it, it can never be killed really.
Medicare is a fraudulent system, driven by the states. Those IRS agents for BOCare, send them to the states to cure the fraud after that disastrous legislation is killed. Then go back to the same payment scheme before BOCare to get more doctors on board while restricting access to the program for those only under a certain income level. This will help fold Medicaid into it and potentially kill the SCHiP program.
We need a president that is at least willing to address this. Of the top tier Trump is the only one that has said he won't touch them.
Not saying Cruz or Rubio have the golden ticket either, but at least their tax plans are flat and both have expressed a willingness to push for the changes. That addresses both growth and the deficit.
Absolutely correct on all these points -
Trump is not a conservative by any means.
He’ll tell you whatever his target audience wants to hear, for the Art of the Deal.
He’s a disingenuous huckster.
RE: “He’s a big government guy, so I’d expect things to be expensive.
Reality is the government needs to be cut down 80%. Military and borders are the only things they should be looking after.”
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