Posted on 08/05/2015 12:00:44 PM PDT by Jim Robinson
Excerpts:
In Trump's 2011 bestseller, Time to Get Tough: Making America #1 Again, he explained in great detail the bills and reforms he says will revitalize the American economy, generate jobs, and strengthen and restore America’s standing on the international stage.
Five of Donald Trump’s solutions for turning the nation around.
1. Foreign Interventions Must Require Cost-Sharing Plans to Reduce U.S. Costs and Guarantee Veterans and Their Families Are Protected
2. Pass NOPEC Legislation to Break OPEC’s Grip on Energy Prices
3. Crack Down on China’s Currency Manipulation by Calculating Taxes on Imports Based on How Much a Manufacturing Country’s Currency is Undervalued
4. Spur Job and Wealth Creation through a 5-Point Tax Plan
“People are smart,” writes Trump. “They know you can’t be ‘for’ jobs and against those who create them.”
That, says Trump, is why America’s president should advocate for and win a five-point tax plan to spark economic growth and allow Americans to keep more of what they earn.
Finally, Trump says its time to implement a fairer and simpler income tax:
Up to $30,000, you pay 1 percent
From $30,000 to $100,000, you pay 5 percent
From $100,000 to $1 million, you pay 10 percent
On $1 million or above, your rate is 15 percent
5. Finish the Border Fence, Boot Out Criminal Illegals, and Reform America’s Legal Immigration System
Trump’s Time to Get Tough lays out several more detailed conservative policy reforms, including cracking down on entitlement fraud, ending Obamacare, and reforming America’s ever-growing welfare state. As he puts it, America needs “a safety net, not a hammock.”
Put simply, GOP establishment figures eager to dismiss Trump’s candidacy do so at their peril. Like it or not, Donald Trump has serious policy plans to offer—and the star power and savvy to make them heard.
(Excerpt) Read more at breitbart.com ...
Trump's book: Time to Get Tough: Making America #1 Again
Looks like a plan. :-)
The tax plan as outlined above would be a vast improvement over the status quo.
The FAIR tax would even be better. MUCH better.
Trump is far, far, far from perfect, BUT he is also speaking up boldly and that’s at least half the battle. I think he knows he needs the participation of the “rednecks” in his vision to get it to happen. It’s back to the old fashioned We The People idea.
One of the worst things that could be done is just to toss Trump over the transom, so to speak, in the election, and let him worry alone about what to do while we stand in a distant gallery. We’re all in this together.
I'm no financial wizard but ... are those numbers feasable ?
Notice how quiet it has been before the new edition release of the book tomorrow. Expect that to turn around with the debate tomorrow night. Friday morning the book will be the top trending topic not any comments made by other candidates. Trump is a master at marketing and promotion He will use the debate and all the people tuning in to make money to pay for his campaign Genius?
Currently, many below 30-40K pay nothing. In fact, with the EITC, many in that range get large “refunds” without paying anything in first.
Part of the difference in manufacturing costs is environmental regulations in the US. Discharging waste into waters and the atmosphere is easier to do in China than in the US. A calculation must also account for domestic environmental rules which inflate US manufacturing costs.
Income tax rates as low as zero percent worked great until the progressives decided to throw out the constitution in 1913 and grant our federal government unlimited powers.
There is nothing about doing away with any existing deductions or tax credits so one would assume they will remain. So those who currently pay nothing will probably continue to pay nothing. Those who do pay will pay at a markedly lower rate. Reducing income tax, eliminating business tax, increasing military spending, all while leaving entitlements like Social Security and Medicare alone will definitely run up the deficit to record heights.
I would guess they are feasible if you eliminate a number of deductions, credits and other income and tax adjustments. For example, your mortgage interest deduction probably goes away under this plan. All income is considered taxable. The only exceptions he would be likely to make are for employment expenses for the self-employed, LLC or subchapter S corporation.
And keep in mind these are only income taxes, and do not adjust FICA and Medicare withholding.
But, all in all, it would be a simplification and improvement. My effective tax rate would actually go down, even if you eliminated all my favorite deductions.
In that era, tariffs carried the Federal government.
A lot of the favorite deductions got there as a means of relief from tax rates that were viewed as scandalously high. Make the tax rates smaller, and the need for the deductions goes away.
Also, everybody should have skin in the game. That way they can see the tie between spending and what they get to keep.
Yup. Shutter the EPA! This is wahr!!
Restore the constitutional limits on government. The states should enforce the 10th amendment.
Trump Bump
Oh I’d love to see the Federales getting even remotely close to small enough to where tariffs could carry them again.
Immense resources are expended on teeny tiny benefits. This doesn’t help anything but some politicians’ prides.
The Fair tax is not.
What don’t you like about it?
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