Trump on Tax Reform.

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

  1. kgord

    kgord Senior Investor

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    Well the plan might be alright, but members of the Fed say that it will again increase the debt by several trillion dollars. I still can't believe we are talking about Trump. I can't stand how he glibly passes over all the issues...without knowing in depth about him. He has got to be the least thoughtful candidate we have ever had for President. We don't need someone like this!
     
  2. My401K

    My401K Well-Known Member

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    Okay I am going to show everyone what flattening the tax system will look like graphically.
    [​IMG]

    While it is nice to want to end some of the terrible spending and waste that exists, what they are talking about doing is not that. See all those little people on the bottom? That will be all of us, and what we will be doing is spending what we have to support the fewer that are above us. the majority of people will in essence be drones, working to support the queen bee.

    If that is not scary enough consider this as well. By flattening the system you will in essence remove the very checks and balances that are in place to protect you. See the levels that have to be gone through currently? All that will be gone, those upper levels in a flatten government structure- who do you think they are? Those on the very bottom might have it better..... temporarily. Models like this only work well in mass production scenarios, these structures facilitate faster out put and better control over of whatever is being produced. Does that flattened structure look like what you would want for a free enterprise economy?
     
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I do like the flat tax idea in theory, but in reality I realize that those who earn very little often have a hard time just providing the bare necessities for themselves and their families.

    I have no problem with someone making $80k a year paying $12k, while someone who is very rich who may make a billion a year pays $150 million.

    Of course if I was a CPA, tax attorney, or tax preparer, I'd NOT favor a flat tax, or an otherwise much simpler tax code, or especially doing away with the IRS.
     
  4. JR Ewing

    JR Ewing Super Moderator Staff Member

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    By flat income tax, I am talking about a flat percentage, NOT a flat amount for everyone.

    Even a consumption tax is based upon a flat percentage of however much of this or that commodity is bought or used or whatever.
     
  5. Investor

    Investor Well-Known Member

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    Things I like about the tax reform plan;

    1)Tax relief for middle class Americans
    2)Simplify the tax code
    3)No family will have to pay the death tax.

    Things I do not like about the tax reform plan;
    1)Reducing or eliminating corporate loopholes
    2)An end to the deferral of taxes on corporate income earned abroad.

    I hope with whatever tax reform America has, it allows every American (legal or illegal) to live the American dream!
     
    Last edited by a moderator: Jul 8, 2016

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