Posted on 08/10/2015 7:13:51 AM PDT by Jack Hydrazine
The liberal media has been going absolutely berserk over Donald Trump’s remarks on immigration. However, they are ignoring his stances on other issues, some of which are very insightful.
In his book, “Time to Get Tough: Making America #1 Again,” published in 2011, Donald Trump laid out a plan to transform America’s tax code, and it is beautiful.
Trump’s code, which he calls the “1-5-10-15 income tax plan,” is a simplistic way to fix our nation’s broken taxation system, without putting the strain on any particular group of people.
Under Trump’s tax plan, those making up to…
$30,000 per year will pay 1 percent in federal income taxes $30,000 to $100,000 will pay 5 percent $100,000 to $1 million will pay 10 percent $1 million or above will pay 15 percent “It’s clear and fair,” wrote Trump on his tax plan. “Best of all, it can be filled out on the back of a postcard and will save Americans big bucks on accountants and massive amounts of time wasted attempting to decipher the tax code.”
Trump also wrote, “Imagine your paycheck was 40 percent higher than it currently is. What could you do with 40 percent more wealth? How many jobs and opportunities for others could you create?”
“The longer you really think about it the madder you will get,” he wrote, “especially when you consider the waste, fraud, and abuse the federal government traffics in as it inflicts its self-defeating policies on hard-working Americans.”
Trump’s rhetoric on taxes continues to this day. On CBS’ “Face the Nation,” Trump stated that he tries to pay as little tax as possible.
“I fight like hell to pay as little as possible, for two reasons. Number one, I am a businessman, and that’s the way you are supposed to do it. And you put the money back in your company and employees and all of that.”
He also added, “But the other reason is that I hate the way our government spends our taxes. I hate the way they waste our money, trillions and trillions of dollars of waste and abuse. And I hate it.” (H/T WND)
Trump’s proposed tax plan is fair and shows real promise at fixing what has arguably become America’s biggest headache. It doesn’t tax the poor to the point of bankruptcy, and it doesn’t punish the rich for being successful.
http://market-ticker.org/akcs-www?post=230493
Note: No deductions, no exceptions, period.
Your tax return would fit on a postcard. There would be little to audit (only “how much did you make?”) and thus 90+% of compliance costs would disappear.
Now why isn’t the media focusing on that?
Incidentally, I have not run the numbers to determine if this is revenue neutral..... but shouldn’t that be analyzed and shouldn’t the media take a good, solid look at it?
Why don’t they? Because I bet virtually everyone would like it, that’s why.
The tax code is a tool to reward your friends and punish your enemies. Washington doesn’t like a level playing field.
This is a good one and would solve many problems. Hope the plan reworks the IRS and cut the staff down about half. Trump look so damn good for President.
That is NOT 40% more wealth; only 40% more income.
The accountants’ and tax attorneys’ lobbyists will fight that tooth and nail! As will the IRS, which would be reduced by what, three quarters or four fifths?
Like Judge Smails so eloquently said, “Well, the world needs ditch diggers, too.”
What you said JimRed...it will never happen.
Destroying the progressive tax system would do wonders for this country.
I’ve heard Rand talk about taxes but not anyone else.
This would be huge! Trump needs to run with it..especially with everyone still talking about the silly blood comment.
Billary pandering with her free college crap today.
As a life-long bookkeeper, this makes the most sense I have ever seen.
Bookkeepers & accountants would still be needed to run a business. The owner needs to know if they are making money or not-—no matter what kind of tax burden they might encounter.
I would vote for Trump on this item ALONE!!!!!
And if your under $30,000.00 what do you pay?
Well, sure they’d fight it. But wouldn’t be fun to put them out of work for a change?
He’d have to find a way to really jerk a kink in Congress. 1. They’re all or almost attorneys & 2. It’s not going to be easy to get between them & lobbyists’ payoffs. (How would they get re-elected?)
Look long & hard at the 1%-—most of Social Security recipients would fit into this category.
Obama wanted to charge EVERYONE a percentage of EVERY BANK TRANSACTION—no matter the reason.
1% for every dollar put into my account-—and 1% on every dollar I write out in paying for my insurance, power, and phone bills.
What’s even better is that this replaces other internal costs and as Trump says, frees up money in everyone’s paycheck.
“Under Trump’s tax plan, those making up to…
$30,000 per year will pay 1 percent in federal income taxes”
So, if I get paid $30,000, I pay $300 in taxes. When I get a tiny little raise, and now make $30,100, I pay $1,505, so now my $100 raise makes me lose $1,205. It will take me 12 years at that rate to start bringing home any more money.
Years later I’ve been getting these little raises,and a few big ones, and now I’m making $100,000. So, I’m paying $5,000 per year. The next little raise takes me to $100,500, and I suddenly get to pay $10,500 per year, so for my $500 raise, I loose $5,500. At that rate of raises, it takes me 11 years to start making any more money.
I don’t know. Seems like there’s a better way to do it.
(Full disclosure - I’m anti Income Tax, because it’s too intrusive and gives the government too much information about us and too much power over us).
$30k and under = 1%.
I agree. This is the best Tax Plan out there. Talk it up Trump!
There would be no need for any more than 10% of the current IRS staff. POSTCARDS!!!! Even the mail delivery person could read your personal info!!.
Who gets a $100 raise? Let’s be serious.
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