Posted on 01/21/2016 7:53:12 PM PST by TBP
The chatter continues this morning about Donald Trump’s call for raising taxes on the rich.
(Excerpt) Read more at washingtonpost.com ...
Trump has been all over the place on taxes over the years. He criticized President Obama for not wanting to keep the Bush tax cuts in place on the wealthiest Americans. He has also proposed eliminating the so-called “estate tax” on people that inherit money, gifts and property from their parents. Both moves would be a major gain for the rich.
Now Trump is starting to sound more populist.
“The middle class built this country, not the hedge fund guys,” he said Wednesday.
Agree. No sense posting that part, though...doesn’t fit the narrative :)
I agree that it’s a good plan. There are actually better plans out there such as flat tax plans and my progressive tax plan (in my profile) but this is a big improvement over what we have today.
Not since the Romneybots of 2007 have a nastier and more disingenuous bunch of disruptors invaded FR.
Hedge fund operators make their money just like any investor.
They make it on already taxed money. Thus they pay a lower rate which is designed to encourage capital flow and investment.
If you tax it more, you get less of it and they will go to bonds or something else.
The hedge fund stuff is just populist jargon...nobody it seems, likes hedge funds since the crash so they are a good target to pee on.
Donald Trump is the Rorschasch candidate he is what er his supporters wish and hope that he will be.
This why nobody listens to you people. Either you’re uninformed, intentionally obtuse, or just flat out lying. Which is it?
How soon they forget:
http://www.freerepublic.com/focus/f-news/3342335/posts
Mark Levin Gives Thumbs-Up on Donald Trump Tax Proposal: �A Hell of a Plan!�
Breitbart ^ | 28 Sep 2015 | Dr. Susan Berry
Posted on 9/28/2015, 9:30:34 PM by Red Steel
“Let me tell you the strong things in this,†he continued. “And he’s very specific for those who want specifics.â€
Levin explained:
From seven tax brackets to four. And the top rate is 25%. The top rate now is 39.6%, but for some people it actually winds up being 43% thanks to the deal the Republicans made with Obama a few years ago. So, the Republican establishment types – the Bushies, the guys – they really have no complaint here,... and I would remind you I think it was 27% under Reagan.
...
“Trump cuts the business tax rate from 35% and, in some cases, 39.6% depending on the business type, to 15%,†he said. “Could you imagine the amount of economic growth that would occur in this country?â€
... “No death tax, so anybody who spends their life acquiring assets, having already paid taxes on them many times, to local, state, and the feds, you don’t have to liquidate after your death – your family doesn’t – in order to pass on the family farm, or homes…â€
“No marriage penalty,†he went on,
(Excerpt) Read more at breitbart.com ...
http://www.freerepublic.com/focus/f-news/3342390/posts
Limbaugh: Trump Tax Plan Similar to Reagan’s 1980s Tax Proposals
breitbart.com ^ | SEPTEMBER 28, 2015
Posted on 9/29/2015, 4:18:01 AM by Helicondelta
Despite all the criticism the proposal has received from some elements on the right and in the GOP, Limbaugh explained that in a lot of ways, Trump’s plan is similar to Reagan’s 1980s Tax Proposals
Partial transcript as follows:
Now, I went back, I mentioned to you that you can find, in the 1980s, you can find evidence of Ronald Reagan with similar tax proposals to what I have seen of the Trumpster’s. If you go back to May of 1985, after the first Reagan tax cuts, he proposed even more tax reform. He made a speech, and in the speech announcing his new proposals, which included slashing taxes for families, as Trump has done today, in that same speech Reagan said the following: “Under our new tax proposal the oil and gas industry will be asked to pick up a larger share of the national tax burden. The old oil depletion allowance will be dropped from the tax code except for wells producing less than 10 barrels a day. By eliminating this special preference, we’ll go a long way toward ensuring that those that earn their wealth in the oil industry will be subject to the same taxes as the rest of us.
“This is only fair. To continue our drive for energy independence, the current treatment of the costs of exploring and drilling for new oil will be maintained. We’re determined to cut back on special preferences that have too long favored some industries at the expense of others. We would repeal the investment tax credit and reform the depreciation system. Incentives for research and experimentation, however, would be preserved. There is one group of losers in our tax plan,†Reagan said
(Excerpt) Read more at breitbart.com ...
http://www.freerepublic.com/focus/f-news/3342438/posts
Investor’s Business Daily: Two Cheers For Trump’s Pro-Growth Tax Plan
IBD ^ | 09/29/2015
Posted on 9/29/2015, 6:24:50 AM by SeekAndFind
Fiscal Policy: It isn’t as ambitious as a flat tax or a national sales tax, but there’s a surprising amount of sensible tax policy changes recommended in Donald Trump’s tax reform plan released on Monday.
He’s proposing the biggest reduction in tax rates since the 1986 Tax Reform Act under Ronald Reagan, and like the Gipper’s reforms, this plan would cover the costs by closing loopholes. So, bravo.
Trump would cut tax rates across the board. The highest income tax rate would shrink from about 40% under current law to 25%. The top capital gains tax rate would be reduced to 20% from 23.8%.
The estate tax, now at 40%, would fall to zero. This plan also eliminates the hated alternative minimum tax and the marriage penalty tax imposed on working married couples.
Not many in the media paid attention to his call for a 15% corporate tax — down from the U.S. current world’s highest rate of 35% — but this might be the most pro-growth reform of all.
Trump’s rhetoric on growth was refreshing, too, coming from a candidate who over the last few months has sounded more populist and even progressive than conservative, at least when it comes to taxes and jobs.
When asked where the revenue would come from to pay for his tax reductions, he answered that the plan would bring more jobs and business to America — and he has history on his side.
He also said, “We have to start cutting costs” of government, and hallelujah for that: A presidential candidate who says that we can let people keep more of their own earnings and finance tax cuts by eliminating the insane waste and incompetence in government spending.
(Excerpt) Read more at news.investors.com ...
http://www.freerepublic.com/focus/f-news/3342738/posts
Larry Kudlow on Trump’s Tax Plan: I Really Like It
Newsmax ^ | September 29,2015 | Larry Kudlow
Posted on 9/29/2015, 7:59:28 PM by Hojczyk
Kudlow, who hosts his own syndicated radio show, has long championed a 15 percent corporate tax rate, but “I never thought I’d see a candidate do it. Special: Not Transferring a Credit Card Balance Is a Big Mistake “It’ll give us a gigantic advantage. Bring capital and businesses to the U.S., make us the most hospitable place to invest — and that’s what Donald Trump has done.”
Republicans are currently split over whether to defund Planned Parenthood in the budget talks, even if it could lead to another federal government shutdown. The 16-day partial closing of the government in 2012 cost taxpayers $1.4 billion.
“Nobody likes, really loves, government shutdowns, including me,” Kudlow told Malzberg. “I’m not proposing that we have five of them in a row.
“But I will say this, sometimes you have to make a statement, OK? You’ve got to make a point. You’ve got to tell people what your beliefs are.
“One of the problems here with the Republican grass-roots is that the base is very angry at the Washington leadership in the House and Senate because it hasn’t done what it said it would do: namely, create a bunch of bills like tax reform and Obamacare and energy and immigration, put them on the president, and let him veto it.
“So, then, we go off to 2016,” Kudlow added, and that “people, including myself, are frustrated.”
(Excerpt) Read more at newsmax.com ...
http://www.freerepublic.com/focus/f-news/3343076/posts
With Tax Plan, Donald Is the New Ronald! (Go Trump!)
The Blaze ^ | 9/30/2015 | Wayne Root
Posted on 9/30/2015, 2:34:01 PM by BlackFemaleArmyCaptain
Someone finally listened. I’ve been searching for the new Ronald Reagan to “Make America Great Again.†I’ve argued in my last four books and hundreds of commentaries that taxes are too damn high on America’s risk-takers, job creators and business owners. I’ve pleaded for a dramatic Reagan-esque tax cut to supercharge the economy and create millions of new jobs. I’ve been searching for a president who would reward the economic engine of America – SMALL BUSINESS. And reward the people who value work ethic, personal responsibility and rugged individualism, over cradle to grave government dependency. That was how Reagan created the greatest economic expansion in world history – by incentivizing the only people who matter to an economy – the business owners, financial risk-takers and job creators. By God, I think we just found our new Reagan. His name is Donald Trump and his tax plan is Reagan squared. Conservatives remember Reagan’s smile, his jokes, his positive attitude. They think that was the key to Reagan’s success. But what made Reagan great was simple: cutting taxes from 70 percent to 28 percent. That reinvigorated investors and entrepreneurs and turned around the economy. That “Made America Great Again.†Trump’s tax plan will do exactly the same. In my new bestselling book “The Power of RELENTLESS†I give credit to Barack Obama for only one thing – he is relentless. I recommend that Republicans adopt his “never accept defeat, take no prisoners†mindset. What’s been missing from the GOP is a relentless fighter for lower taxes, for smaller government, for economic freedom, for more power to the people, a fighter who recognizes it’s not greedy to want to keep more of your own money...
(Excerpt) Read more at theblaze.com ...
Oh NO he doesn’t.
Just because you are a Cruz supporter, there’s no reason to lie about what Trump’s tax plan is.
It’s a bit confusing nopardons, because prior to the tax plan release, trump was indeed backing higher taxes on the rich.
So.......I really don’t know what his tax plan really is.
Thank you for illustrating what I said for everyone to see. Trump’s tax plan is on his website for anyone, even you, to read. But you want to discount that and tell us what is tax plan is based on 5 seconds of video.
Like I said, you are either uninformed, intentionally obtuse, or just flat out lying. It really doesn’t matter which.
See, if you LISTENED to what he SAID rather than taking SOUNDBITES, you would have been well aware that he was talking about taxing CARRIED INTEREST, which is what he meant when he talked about taxing the hedge fund guys.
But you don’t care one bit about that, do you?
I guarantee you’ll be on another thread posting this same bullcrap and making someone else explain the truth to you before you go and do the whole damn thing over again the next day.
In case no one knows about it, Donald Trump is actually a Shareholder of Goldman Sachs.
need to change the tie to a pink tie.
Hedge fund leeches like Soros... No problem with them getting hit. Ordinary income rates down under trump
Nooooooooo!
I know precisely what carried interest is. It too is taxed at the same rate as long term capital gains. (you need to keep it a year before liquidating)
If you infer that I am somehow ignorant or worse, stupid, I will have to harass you.
http://crooksandliars.com/karoli/donald-trump-lets-tax-rich-pay-national-deb
“Trump, a prospective candidate for the Reform Party presidential nomination, is proposing a onetime net worth tax on individuals and trusts worth 10 million or more. By Trumps calculations, his proposed 14.25 percent levy on such net worth would raise 5.7 trillion and wipe out the debt in one full swoop.
—
The net worth tax is the cornerstone of Trump’s economic plan released Tuesday morning.
“No one has put forward a plan to make this country entirely debt free as we enter the next millenium,” Trump said in a written statement.
A golden comment from 1999....
First, I didn’t infer you were ignorant or stupid. I implied it.
Second, nobody accused you of not knowing what carried interest was. What I accused you of was either being ignorant about Trump’s plan, deliberately being obtuse, or outright lying.
Please, let the harassment commence. I’m pretty sure I can spare the 3 IQ points it will take to have a battle of wits with you.
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