Posted on 09/29/2015 12:44:11 PM PDT by GIdget2004
GOP presidential front-runner Donald Trump's tax plan would cost just under $12 trillion over a decade, according to an analysis from a conservative-leaning group.
The Tax Foundation found that Trump's proposal would lose around $10.1 trillion when accounting for the potential economic growth that would be spurred by the tax changes.  The $12 trillion figure comes from more traditional scoring methods, akin to those employed by official federal scorekeepers. Trump himself has said that the plan — which slashes the top tax rates for both individuals and all kinds of businesses — won't add to the deficit.
But after the billionaire businessman released his plan, tax analysts were quick to question that claim and said that the top 1 percent of earners would be most likely to gain under Trump's proposals. Trump had said for weeks that his plan would go after Wall Street types who paid little to nothing in taxes.
The Tax Foundation found that the top 1 percent of earners would see their after-tax income rise between 21.6 percent and 27 percent under Trump's plan. The bottom 30 percent of taxpayers, on the other hand, would gain anywhere from 0.6 percent to 11.5 percent in after-tax income.
(Excerpt) Read more at thehill.com ...
That's the formula. Trump's proposed the popular part - cut taxes.
Waiting on the other two...
Perhaps written by the same aparatchiks who consistently tell us low gas and energy prices signal very bad things for us. Or how Obamacare was going to grow the economy by seventy gazillion kazillion dollars-—Does anyone believe anything these jackasses say anymore?
Heck, he’s not even GOP backed.. not sure he is GOP at all ;)
Where is Trump going to find a Republican Congress willing to cut spending?
Besides, Trump has talked about spending more on defense, veterans, and infrastructure. I haven't heard him say anything about cuts.
Heck, he’s not even GOP backed.. not sure he is GOP at all ;)
After hearing enough of Boehner and Mitch, I am not so sure it would have been a good thing.
Either way, those dependent on government for incomes will be cut off and will be the rioting zombies of the near future (easily cleaned up).
You mean like the Republican congresses under George Bush? Please.
Cut the taxes, cut the government, cut the spending. Repeat.
*****
That’s the formula. Trump’s proposed the popular part - cut taxes.
Waiting on the other two...
Trump has mentioned plans to cut waste within the military and healthcare agencies. This will effectively shrink government.
What you need to understand is that there is never going to be a fair tax or likely not even a flat tax. Don’t blame Trump for the fact that its just too easy for the govt to take your money before it even gets into your hand. They will never give up that privilege. The sixteenth Ammendment is not Trump’s fault.
You think that will be stripped out?
LS may think Congress will balk. I’m not convinced of that.
Trump wants it to being capital back to the U. S. This has been a problem.
He thinks it would bring back upwards of $2 trillion dollars.
Dr. Douglas Holtz-Eakin, former Director of the CBO (2003-2005), is on the board of directors of The Tax Foundation. Wiki tells us that during his tenure at CBO, “under his leadership, the budget office undertook a study of tax rates, which found that any new revenue that tax cuts brought in paled in comparison with their cost.” Thus, the conclusion reached by the Tax Foundation comes as no surprise.
I don’t know. Maybe I need to re-read the plan.
“Yeah, but it depends as always on what, exactly, they said would occur in their “dynamic” analysis. They said Reagan’s tax cuts would lost money. WRONG. They produced between 40-60% more revenue than before because the assumptions of the “dynamic” scoring were wrong. “
Exactly.
I haven’t read the plan, but I did hear that discussed, so I’m relatively sure it’s in there.
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