Posted on 11/03/2017 5:39:17 AM PDT by C19fan
Sen. Rand Paul (R-Ky.) said Thursday on “The Laura Ingraham Show” that the House’s tax plan will deliver economic growth, although it doesn’t really constitute “a significant tax cut” as President Donald Trump said it would.
(Excerpt) Read more at lifezette.com ...
He’s on the wrong side on this one and I think he knows it. He’s negotiating I think.
Luv’d all the pop ups on that site...
Reading the entire article, my sense is Paul would still vote for it, as is.
It aint a “ tax cut” if it doesnt cut taxes on the people who pay almost all the taxes
It’s income redistribution by govt coercion
A sure fire way to incentivize economic growth by means other than consumption
Ask Venezuelans how thats working
She seemed to interrupt PDJT a lot. It’s more tolerable coming from a friendly talking head than one of those CNN/ABC/CNBC creeps.
A lot of top 1% ers are wage earners who have not benefitted from the run up in Fed-fueled equity markets. Why should I have to continue paying a marginal rate of 39.6%???
Tax cuts should go to those who pay the taxes... and in my view a more equitable tax cut on the earned income side would be a flat percentage rate cut... such as cutting taxes paid on earned income by, say, 10% for everyone... mine would then drop from 39.6% to 35.64%... still a very hefty tax rate...
Seems to me this is more of a deduction cut than a tax cut plan. The lobbyists have been working 24/7 to take care of their ox, the GOP got their feed, and the taxpayer got screwed ... again.
Rand is right, but it wouldn’t pass, so it’s a choice between a plan that will pass and a plan that won’t.
To be fair, ending the AMT is a tax cut for the top 1%. So is the death tax change, and since that 1% generally own the small businesses or are high in the corporations, they can direct how they are paid. For example, stock options have no value til they’re cashed in.
Top 1% still get a 4.6% reduction between $500k-$1m in income and they benefit the most from corporate taxes down and the estate tax repeal. Plenty in there for the richest in the US to be happy about.
They should just add a line to the current tax forms:
“Take your taxes due number and subtract 10%”
That way most every taxpayer would get a tax cut.
Then they need to reduce Fed spending by 10% the first year and 1% every year after.
The death tax should be eliminated, period.
It’s hell on farmers with a couple million dollars worth of land and equipment.
The super-rich put their money in trust fund accounts and live on allocations; most of them die “penniless” like the poor Kennedy’s.
This is such a nine line free fall cluster fluck it is not worth the effort to even try to salvage it.
The whole thing but a couple of parts is smoke and mirrors to make it all revenue neutral.
Without cuts in spending and a restriction and lowering of all taxes this is more screwed up business as usual. Just a lurching train ride to nowhere.
the top 20% pay 90% of all taxes
the top 1% pay something like 50%
I know these figures are around here somewhere
If you give “tax cuts to the rich” THEY CAN HIRE MORE PEOPLE - OR BUY MORE STUFF Which GIVES A JOB TO SOMEONE MAKING THAT STUFF
I agree with him. (And we’re not even close to the “top 1%”!) But fair is fair. Why should people who’ve worked the hardest, taken the most risks, made the largest sacrifices, and provided jobs for millions be discriminated against? It’s wrong.
RP could have presented his version. Or maybe he’d rather complain about someone else’s.
The current death tax exclusion is currently about $5.5 million and $11 million for the estate of two people. None-the-less, that can and has changed at least twice in my adult lifetime from a death tax on all material assets to none to what we have now.
You see, our tax code changes with the political winds. It never is stable as it should be. At least FOUR times I have seen material changes in the tax code that should affect and disturb everyone in the country because the capricious changes impact just about everything you do. You can’t plan a future under such conditions.
The Left insists on perpetuating the big lie that “the rich don’t pay their fair share”. Unfortunately it sticks because of the large number of economically illiterate.
DO NOT TRUST RAND PAUL!™
You’re right, of course.
I’m thinking only a Constitutional Amendment would fix it.
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