Unbelievably generous tax cuts

[DumbedDownUSA]

The emphassis is on unbelievable.

'It's not good for me. Believe me' said Trump

Can you believe him? That phrase usually sends up alarm bells for me
when he uses it.

Analysis suggests most people will see modest tax reduction of about 1%
but for the top 1% (Trumps club) it's nearer 8%. How ill this not
benefit Trump?

Trump wants to cut AMT. AMT was the reason Trump had to pay $31m in
taxes in 2005 he won’t have to worry about that any more if he gets his
way.

This is before we even get into the pass through tax and lower
corporation tax.

Then we have the cost and who pays. The cost, between $3tn and $7tn
over the next decade. Add that to the national debt and have your
kids... and their kids to pay for it for the rest of their lives and/or
offset it against the cuts in healthcare, schools, social security and
disabilty insurance.

Trumps kids should be able to afford their share though... from the
estate taxes they won't have to pay when the unbelievable president
farts his last.

So which Trumpets believe Trump this time?

--
Trump ***Irresponsible, unprofessional and sending the wrong message.***

[Jim Dandy]

>"DumbedDownUSA" wrote in message news:xn0kvl696...@nntp.aioe.org...

>The emphassis is on unbelievable.

>'It's not good for me. Believe me' said Trump

>Can you believe him? That phrase usually sends up alarm bells for me
>when he uses it.

>Analysis suggests most people will see modest tax reduction of about 1%
>but for the top 1% (Trumps club) it's nearer 8%. How ill this not
>benefit Trump?

>Trump wants to cut AMT. AMT was the reason Trump had to pay $31m in
>taxes in 2005 he won’t have to worry about that any more if he gets his
>way.

>This is before we even get into the pass through tax and lower
>corporation tax.

>Then we have the cost and who pays. The cost, between $3tn and $7tn
>over the next decade. Add that to the national debt and have your
>kids... and their kids to pay for it for the rest of their lives and/or
>offset it against the cuts in healthcare, schools, social security and
>disabilty insurance.

Trumps kids should be able to afford their share though... from the
estate taxes they won't have to pay when the unbelievable president
farts his last.

MORE FAKE NEWS FORM THE FAR LEFT.


You should research before defecating. Which would give you nothing to lie
about.

[DumbedDownUSA]

Jim Dandy wrote:

> MORE FAKE NEWS FORM THE FAR LEFT.
>
>
> You should research before defecating. Which would give you nothing
> to lie about.

Your mum defactated while giving birth, that's why you have shit for
brains and have not one word worth reading.

Plonk (as always)

[John B.]

Why Trump or anyone else with his net worth should get yet
another tax cut is beyond me.

[Dene]

- show quoted text -

Why Trump or anyone else with his net worth should get yet
another tax cut is beyond me.

$.40 on the dollar is steep. Add another 9 to 10% for state income tax and one is up to $.50 on the dollar. That's ridiculous. What are we...Canada?

I see no problem with dropping the top rate to 35% and eliminating loopholes. I am definitely for eliminating the death tax. How can it be fair to tax somebody twice?

[B...@onramp.net]

On Sat, 30 Sep 2017 18:07:39 -0700 (PDT), Dene <gds...@aol.com>
wrote:

>- show quoted text -
>Why Trump or anyone else with his net worth should get yet
>another tax cut is beyond me.
>
>$.40 on the dollar is steep. Add another 9 to 10% for state income tax and one is up to $.50 on the dollar. That's ridiculous. What are we...Canada?
>
>I see no problem with dropping the top rate to 35% and eliminating loopholes.

If ....they eliminate them.

>I am definitely for eliminating the death tax. How can it be fair to tax somebody twice?

No argument there. The gift tax is a little weird too.

[-hh]

Bobby wrote

> On Sat, 30 Sep 2017 18:07:39 -0700 (PDT), Dene <gds...@aol.com>
wrote:

>>[attribution]

>>>Why Trump or anyone else with his net worth should get yet
>>>another tax cut is beyond me.
>>
>>$.40 on the dollar is steep.

Historically, it isn't; US rates used to be much higher.

>> Add another 9 to 10% for state income tax and one is
>> up to $.50 on the dollar.

Only if you forget it's been a deduction on Schedule A.

>> That's ridiculous. What are we...Canada?
>>
>>I see no problem with dropping the top rate to 35% and eliminating loopholes.
>
> If ....they eliminate them.

If they *permanently* do so...but that was the objective of the
AMT, which is proposed to be killed.

>>I am definitely for eliminating the death tax. How can it be fair
>>to tax somebody twice?
>
>No argument there.

The tax for most Estates is zero ... it's predominantly the sub-1%'ers - and
then only those that didn't plan ahead.

Plus most survivors get a free bump up in Cost Basis, which is a huge tax
loophole on the first $5 million (again, the vast majority of Estates).

>The gift tax is a little weird too.

Probably to minimize people trying to circumvent the Estste / Inheritance
taxes, particularly as some of those get weird in some States by having
different taxation rates depending on the relationship to the deceased.

-hh

[DumbedDownUSA]

B...@Onramp.net wrote:

> On Sat, 30 Sep 2017 18:07:39 -0700 (PDT), Dene <gds...@aol.com>
> wrote:
>
> > - show quoted text -
> > Why Trump or anyone else with his net worth should get yet
> > another tax cut is beyond me.
> >
> > $.40 on the dollar is steep. Add another 9 to 10% for state income
> > tax and one is up to $.50 on the dollar. That's ridiculous. What
> > are we...Canada?
> >
> > I see no problem with dropping the top rate to 35% and eliminating
> > loopholes.
>
> If ....they eliminate them.
>

They never eliminate them. If they could they would not have needed the
AMT in the first place.

[DumbedDownUSA]

...but why LIE about it.

Trump has no respect for his base. He thinks they believe his every
word... and perhaps they do.

They trust him but he doesn't trust them enough to tell them it is a
tax cut for the rich paid by food stamps and their childrens future.

[John B.]

40 cents on the dollar is the tax RATE. Not many people in
that tax bracket pay that much after deductions for home
mortgage, property taxes, IRA contributions, etc. They
already got a big tax cut under GW Bush; why should they
get another one? The people whose taxes should be cut are
those for whom paying taxes is a significant financial
hardship. For most people earning more than $250K, it isn't.