Posted on 09/27/2017 12:43:47 PM PDT by Oldeconomybuyer
President Donald Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades, offering to cut taxes for most Americans but prompting criticism that the plan favors the rich and companies and could add trillions of dollars to the deficit.
The proposal, which the Republican president said was aimed at helping working people and creating jobs, faces an uphill battle in Congress with Trump’s own party divided and Democrats hostile.
Republicans plan to lower corporate income tax rates, cut taxes for small businesses, reduce the top income tax rate for individuals and scrap some widely used tax breaks including one that benefits people in high-tax states dominated by Democrats.
(Excerpt) Read more at reuters.com ...
Reducing the tax on business is a reduction to cost of the end user or consumer....
Do it!!!
... because the poor aren’t paying income taxes. So of course they don’t get tax breaks.
Democrats remember the debt when Republicans want to cut taxes.
... never when they want to increase spending.
Child tax credits are fine IF they are restricted to citizens ONLY.
Illegal aliens are currently bilking us out of BILLIONS every year using current child tax credits.
One address in Atlanta got 200+ checks.
Translation:
Trump raises taxes on the rich, raising concerns that he’s cutting taxes on the rich.
...
Uh... huh.
“favors the rich” because any tax cut favors PEOPLE WHO ACTUALLY PAY TAXES.
Good. C corps shouldn’t pay any income tax, but 15% is enough. Growth and hiring will definitely follow.
Deficit?
They weren’t ‘worried’ over the damned deficit for the last 8 years!.......................
Ohhhh...now the deficit matters. And they act like cutting taxes means less govt money, and that has to be “paid for” somehow. Zero sum.
Its idiotic to not account for the way cutting rates would allow tax revenues to explode.
The rich as defined by progressives is anybody making over the mean income level.
They must be playing word games here cause nobody in their right mind would give the truly rich a tax cut. I say give them a hair cut.
FAKE NEWS from Reuters.
What's important is that racist Trump called people names and is trying to put Django back in chains. /s
Nothing but the moldy old class warfare line, eh Reuter’s? We don’t care how much the rich get in tax cuts as long as we in the Middle Class get our cut,too.
More like 'surplus expectations'!!
It's called 'The Laffer Curve', Rooters geniuses ...
“One address in Atlanta got 200+ checks.”
I would like to see a link to that one as I have not heard this before.
They need to cut spending on ILLEGAL ALIENS....PERIOD!!!!!!
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