Posted on 09/10/2015 7:17:34 AM PDT by Jim W N
Bush's plan starts by slashing tax rates. He'd return to the top personal income tax rate of 28% that America had when Ronald Reagan left office. That top rate, by the way, was a true bipartisan reform designed in part by congressional Democrats like Bill Bradley and Dick Gephardt. The rate has since migrated up to 42%, with many Democrats longing to tax the rich well above 50%.
Middle-class tax rates would fall to 10% for families with incomes up to $89,000 and to 25% for incomes up to $163,800. For singles, the thresholds are lower. But the thresholds are not high enough to ensure no one in the middle class gets pushed into higher tax brackets.
Corporate, capital gains and dividend taxes would all fall to 20% while the estate tax is eliminated. Bush also would provide immediate expensing of plant and equipment for businesses, which the Tax Foundation says is the most pro-growth tax fix to create jobs and higher incomes.
A new tax of 8.75% payable over 10 years would be created on overseas profits. This would reduce the tax incentive to keep foreign profits stored abroad and bring these funds back to America to be reinvested or distributed to shareholders.
Donald Trump has tapped into voter fear that America is losing jobs to foreign rivals. But if the goal is to bring jobs home, the best way to do so is to slash regulations and tax rates and keep the dollar strong — not to create trade barriers.
(Excerpt) Read more at news.investors.com ...
Japan: Sells the USA 2 million cars, but only allows about 13,000 American cars to be imported into Japan. It isn't because American cars are not in demand, they are in high demand, it is because Japan has import restrictions the USA doesn't impose on Japan.
Doesn’t matter. Bush couldn’t get Elected Dog Catcher in the General Election.
Bush may be responsible for putting the Sleep Aid Drug Manufacturers out of Business though.
Worth repeating.
Please define "growth".
If you mean increased profit in the banking/financial sector based on their ability to emit bills of credit while the number of Americans with no jobs continues to grow, f*** it.
You people don’t understand freedom nor the free market which is simply freedom in action. Like the Left, you don’t trust freedom. Like the Left, you think government is the answer and should control free action in the marketplace. Like the Left, you’ll never understand that government interference in the free market does more harm than good.
Stupid statements like “dumping” for instance. What does that mean? It means you don’t understand that if there was no CONSUMER DEMAND for goods from China they wouldn’t be able to “dump” anything. Have you addressed WHY there’s consumer demand for goods from China? No. All you want to do is curtail consumer demand. Well, you’ve come to the right place because if there’s one thing government is good at, it’s forcing its will on others. Sad that you people call yourselves “conservatives.”
Sure. Hey if they’re going to shoot themselves in the foot why shouldn’t we? It isn’t fair if we can’t shoot ourselves in the foot just as much as they can. I’m for fairness. Equal stupidity and equal pain.
“He’d return to the top personal income tax rate of 28% that America had when Ronald Reagan left office.”
The Tax reform Act of 1986 was the biggest tax increase in our history.
It wiped out 30 years of tax planning and screwed the economy.
You Free Traitors™ are going to kill us all economically. I wouldn’t piss on you even if you were on fire.
Look up real economic growth if you don’t know what it means.
Some factors: real median family income growth and shrinkage of interest rates, inflation, and unemployment.
I think I see your problem. It isn't that ugly tie you have on.
Pound sand Pal. People like you don’t trust nor understand freedom. Freedom-hating “conservative.” Rots a ruck.
Your idea of freedom is letting everyone eat our lunch. The country is doomed useless Free Traitor™ scum bastards are thrown into the dust bin of history.
ONLY if you repeal the 16th Amendment first. Otherwise you’re not cutting taxes, you’re ADDING taxes to the income tax. As long as the 16th Amendment is in place the feds will always be able to hit you with income tax.
And the straightforward proposal of a tariff for the purpose of taxation is entirely different from the convoluted proposal a tariff for the purpose of “helping” our economy.
The only people that are eating your lunch are the $4 trillion, mostly unconstitutional feds. If you don’t get that you don’t get anything.
A tariff raises revenue and helps domestic manufactures a win/win.
A tariff raises PRICES TO THE AMERICAN CONSUMER (lose) and GOVERNMENT REVENUE SO THEY CAN WASTE MORE OF YOUR MONEY (lose). It’s lose/lose. The Left loves lose/lose.
So when a manufacturer moves his factory off shore and realizes a 5% reduction in production cost does that 5% get passed on to the retailer? If so, does the retailer pass on that 5% to the consumer?
Or, does that 5% go to the stock holder of the manufacturer and the bottom line? Well?
My opinion the consumer and the tax payer are subsiding the "cheap coolie" of off shore labor.
Where in your delusional mind do you get that I’m for a progressive income tax.
If you think business opportunity, which is what companies MUST and SHOULD look for, is the same as progressive income tax then welcome to the Marxist School of Economics.
Like the POS Free Traitor™ you are, you continue to obfuscate and dodge. You are slimy gloBULList.
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