Trump on Tax Reform.

Discussion in 'Politics Discussion' started by SteakTartare, Sep 30, 2015.

  1. SteakTartare

    SteakTartare Senior Investor

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    So Trump released his tax reform plan. If can be read in its entirety here. I've been doing some reading on and, though not perfect, I think it is a step in the right direction. I know our household, as would many others, would see a tax decrease.

    Anyway, I just thought I'd pass it along for those that are curious and/or would like to discuss his proposal. Cheers.
     
  2. pwarbi

    pwarbi Senior Investor

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    When candidates present their plans of what they are going to do if elected, they often paint a rosier picture than what they are actually going to do, in order for people to vote for them.

    While I'm not saying that trump is lying and can't produce what he's promising, I do think that sometimes what he wants to do, and what he can do are quite far apart.
     
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I like the general outline of his plan. I think that the low earners should also pay a little though. Everyone having at least a little skin in the game goes a long way towards hopefully someday reducing the size of government and also the amount of fraud, waste, and abuse that goes on.

    I DON'T agree with his recently stated views on ME foreign policy, letting Putin make Russia stronger by filling the void Obama created, etc.
     
  4. Penny

    Penny Well-Known Member

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    I am more focused on the tax system being simpler, more efficient, with fewer potential loop holes. That should be the goal of reform rather than whether I save money etc
     
  5. greybird29

    greybird29 Member

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    Being on the lower income scale I do like most of his ideas on his tax reform proposal. Yet it does not seem feasible as the rich folks will repel it in every way they can. It will steal from the rich and give to the little folks and the rich will not let that happen in anyway form or fashion. I believe he knows they will never pass it so why not offer it to appease the little folks…
     
    Last edited: Oct 1, 2015
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  6. SteakTartare

    SteakTartare Senior Investor

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    +1. Those folks need some "skin in the game". And, after all, the do benefit from the infrastructure, military protection, health care, social services, etc. that those tax dollars pay for. Ergo the should be paying something, even if it is only a little bit.
     
  7. gmckee1985

    gmckee1985 Senior Investor

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    Not a fan of his plan. If anything, we need more people paying into the system, not less. I'm tired of people getting away with paying nothing in taxes. If some have to pay, all should have to pay. I would much rather we not have an income tax at all, but this is the world we live in so I'd like everyone to have a little skin in the game. Just as I think people on welfare should have to give something back to society through charitable work, and job training, I also believe everyone should pay a bit in taxes. As a conservative, I'm against the idea of progressive taxation completely, and that's something that is big in Trump's plan.
     
  8. Glcameron

    Glcameron Well-Known Member

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    Not a fan of him in general. His multiple claims of bankruptcy, blatant use of money and just his sexist views in general don't move me. I think it's crazy. I don't think he'll win but if he does, I'm moving to Canada
     
  9. JR Ewing

    JR Ewing Super Moderator Staff Member

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    As much as I hate tax increases in general, I would not have a problem myself with paying a little more TEMPORARILY IF it was going towards paying off the debt, and NOT going towards more spending or on other things. That won't happen in this administration, of course.

    We need to cut spending - the govt spends (and wastes) far, far too much. $5k for a $5 hammer. $1 mil for a port-a-pottie. $5 billion for the piss-poor obamacare website that could have been built for less than $1 mil - then to have the govt use that same contractor (who was not even American) to "improve" the IRS computers! You can't make this stuff up, unfortunately.
     
  10. Rosyrain

    Rosyrain Senior Investor

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    I have heard many tax reforms in my life by presidential candidates and they never seem to come to light when the person is actually elected. I will wait and see what really happens. On a more positive note, I saw Donald Trump with his wife and young son plastered on the cover of some magazine today. It made me wonder where his other kids were. I am so sick of the political games.
     

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