Thread: President Donald Trump

Originally Posted by AntRobertson

How are you own efforts to bring people together going, Repeater?

And how about yours? You've got more hate & contempt seething just below the surface than just about anyone on this forum.

The White House
Office of the Press Secretary

For Immediate Release

September 27, 2017

President Donald J. Trump Puts Americans First in Tax Relief

“If we want to renew our prosperity, restore our opportunity, and reestablish our economic dominance – which is what we should be doing – then we need tax reform that is pro-growth, pro-jobs, pro-worker, pro-family, and, yes, pro-American.” – President Donald J. Trump

An America First Tax RELIEF PLAN: President Donald J. Trump, the House of Representatives Ways and Means Committee, and the Senate Finance Committee are proposing vital tax relief to strengthen the middle class, grow the economy, and unleash America’s economic comeback.

• We are calling for a dramatic tax cut, which includes:
  
  • A larger zero tax bracket;
  • Lower tax rates for individuals, providing relief to Middle Class American families;
  • Lower small business tax rates, giving a boost to millions of American businesses and farms; and
  • Lower corporate tax rates, making American business more competitive.
  
  
• Tax cuts, like those in President Trump’s unified framework, boost economic growth.
  
  • Since Vice President Pence’s 2013 tax cuts, as Governor of Indiana, unemployment in Indiana has been cut in half and more than 200,000 jobs have been created.
  • President Reagan’s 1986 corporate income tax cut contributed 3.3 percent to economic growth over ten years, according to the Tax Foundation.

A TAX CUT For WORKING AMERICANS: We are laying out a tax-relief framework that will unburden America’s Middle Class.

• Double the standard deduction so that more income is taxed at zero percent.
  
  • The first $12,000 of income for an individual and $24,000 for a married couple will be tax-free.
  
  
• Consolidate the seven existing tax brackets for taxable income to only three brackets: 12 percent, 25 percent, and 35 percent.
• Increase and expand the Child Tax Credit to benefit more middle-income families and eliminate the marriage penalty.
• Create a new $500 tax credit for those caring for an adult dependent or elderly loved one.

Simplify the tax code: We will simplify tax filing so Americans can file their returns on a single sheet of paper.

• The vast majority of Americans will be able to file their taxes on a single sheet of paper.
  
  • American individuals and businesses spend more than 6 billion hours complying with the tax code, according to the National Taxpayer Advocate.
  
  
• The plan repeals the Alternative Minimum Tax, which requires many taxpayers to do their taxes twice.
• The plan ends the job killing “Death Tax.”

Lower The Crushing Business Tax Rates: We will cut tax rates for American business and make American business competitive again.

• The plan will reduce the corporate tax rate to 20 percent.
  
  • The United States corporate income tax rate is the highest in the Organisation for Economic Co-operation and Development (OECD), and has been above the OECD average for almost 20 years.
  • The United States corporate income tax rate is more than 10 points higher than China’s, according to the Congressional Budget Office (CBO).
  
  
• The plan will also reduce the top tax rate paid by sole proprietors, S corporations, and partnerships to 25 percent.
• For the next five years, American businesses will be able to immediately write off the cost of their equipment and other capital investments.
• Economists agree that America’s corporate tax rate harms America’s workers by keeping their wages down.
  
  • More than 70 percent of the corporate tax burden falls on American workers, according the CBO.

Bring Wealth Back: We are proposing an “American Model” that will bring back trillions of dollars held overseas and restore America’s competitive edge.

• Profits that have accumulated offshore will be subject to a one-time low tax rate, thereby ending the tax incentive to keep those profits offshore.
• To avoid paying high U.S. corporate taxes on foreign profits, American companies have often reinvested their money abroad instead of repatriating it to U.S. shores.
  
  • Companies hold an estimated $2.8 trillion in earnings offshore, according to Audit Analytics.
  
  
• This plan will stop the “Offshoring Model,” which penalizes companies for incorporating in the United States.

https://www.whitehouse.gov/the-press-office/2017/09/27/president-trump-puts-americans-first-in-tax-relief

Originally Posted by Slick

You've got more hate & contempt seething just below the surface than just about anyone on this forum

Well I'm not American and you've literally admitted on this thread that you're close-minded and not willing to compromise.

So that assessment needs to be taken with a grain of salt.

Well two actually. Because you're also an angry little dwarf that threatens other people on forums.

Originally Posted by AntRobertson

How are you own efforts to bring people together going, Repeater?

I am in no real position to bring people together, I do not however spread the hatred I see coming from various groups and several posters on this forum. When Obama was president I questioned many of his actions but I never questioned his elected right to the presidency,you never saw me post the infalamitory remarks the I see, not only on this forum,but all over the news.

An America First Tax RELIEF PLAN: President Donald J. Trump, the House of Representatives Ways and Means Committee, and the Senate Finance Committee are proposing vital tax relief to strengthen the middle class, grow the economy, and unleash America’s economic comeback.

Well that's a nice proposal.

Pity the reality is just re-packaged failed 'trickle down' tax cuts for the wealthy.

But hey, at least the suckers are buying into it.

Originally Posted by AntRobertson

Well I'm not American and you've literally admitted on this thread that you're close-minded and not willing to compromise.

So that assessment needs to be taken with a grain of salt.

Well two actually. Because you're also an angry little dwarf that threatens other people on forums.

So because your not American it is ok to be full of hate?

Originally Posted by AntRobertson

Well that's a nice proposal.

Pity the reality is just re-packaged failed 'trickle down' tax cuts for the wealthy.

But hey, at least the suckers are buying into it.

Double the the standard deduction,bringing billions of dollars back to the US and simplifying the tax code promotes ' trickle down' tax cuts for the wealthy. Do you know the percentage of businesses are smal businesses not the wealthy conglomerates you must be thinking of.

Originally Posted by RPETER65

I do not however spread the hatred

Well that's readily and easily disproved:

Originally Posted by RPETER65

...you really aren't very bright are you...you are an angry liberal...you really aren't very bright are you...Your stupidity is unbelievable...

Let he who is without sin cast the first stone, the Lord detests lying lips etc. etc.

But hey, at least the suckers are buying into it.

​Q.E.D.

Originally Posted by RPETER65

Double the the standard deduction,bringing billions of dollars back to the US and simplifying the tax code promotes ' trickle down' tax cuts for the wealthy. Do you know the percentage of businesses are smal businesses not the wealthy conglomerates you must be thinking of.

Originally Posted by RPETER65

Double the the standard deduction,bringing billions of dollars back to the US and simplifying the tax code promotes ' trickle down' tax cuts for the wealthy. Do you know the percentage of businesses are smal businesses not the wealthy conglomerates you must be thinking of.

You're stupid really, aren't you.

You really should try watching something other than Fox News.

WASHINGTON — The tax plan that the Trump administration outlined on Wednesday is a potentially huge windfall for the wealthiest Americans. It would not directly benefit the bottom third of the population. As for the middle class, the benefits appear to be modest.
The administration and its congressional allies are proposing to sharply reduce taxation of business income, primarily benefiting the small share of the population that owns the vast majority of corporate equity. President Trump said on Wednesday that the cuts would increase investment and spur growth, creating broader prosperity. But experts say the upside is limited, not least because the economy is already expanding.
The plan would also benefit Mr. Trump and other affluent Americans by eliminating the estate tax, which affects just a few thousand uber-wealthy families each year, and the alternative minimum tax, a safety net designed to prevent tax avoidance.

https://www.nytimes.com/2017/09/27/u...lass-poor.html

Originally Posted by RPETER65

Do you know the percentage of businesses are smal businesses not the wealthy conglomerates you must be thinking of.

Small businesses do not pay the corporate tax you bozo and almost no small business will benefit from this tax plan. As usual you are stupid enough to believe the nonsense that comes out of Drumpfs mouth. See here;

Trump has been lying a lot about his 'small business' tax cut


President Donald Trump pitched his tax plan on Wednesday in front of a crowd of truckers. He wanted them to know his business tax cuts aren't just for rich people — benefits would also flow to regular Americans, including truckers.

"The more than 30 million Americans who have small businesses will see — listen to this — a 40% cut in their marginal tax rate," he said. "Forty percent."

This was a lie.

Under Trump's plan, only 1.8% of small-business owners — about 670,000 people, all with family incomes over $400,000 — would enjoy this 40% tax cut.

"For the many American truckers who file taxes as sole-proprietors, S corporations or partnerships, we will cap your top tax rate at a maximum of 25%," he said. "Substantially lower than what you're paying now."

This was mostly a lie, even as applied to the minority of truckers who, as the president describes, work for themselves and file taxes like a small business.

A single trucker would have to make well over $100,000 for this cap to matter — or would need a family income over $200,000, if married.

The average trucker makes about $41,000. So, most truckers would come nowhere close to saving from this cap.

Plus, there's another issue with Trump's claim about independent truckers, one that gets to the heart of the problem with Trump and congressional Republicans' plan to cut taxes on "small businesses."

What counts as a small business?

Small-business tax cuts are popular. A recent NBC/Wall Street Journal poll found far more Americans thought there should be a tax cut for small business (57%) than thought their own family should get a tax cut (40%).

So, Republicans came up with a proposal that purports to benefit small businesses.

Most small businesses don't pay taxes directly; they pass income through to their owners, who report and pay tax on that income along with everything else on their individual income-tax returns. The Republican tax framework would cap the tax rate on such income at 25%, even as individual income could be taxed at rates of 35% or more.

But this creates an obvious opportunity for creative tax planning: Instead of drawing a salary, what if a high-income worker decides to become an independent contractor, selling "consulting services" to his or her old employer? That worker has just converted his or her wage income into "business" income, allowing him or her to take advantage of this lower tax rate.

Republicans say they will stop taxpayers from gaming the system like that. Their legislation will include "measures to prevent the recharacterization of personal income into business income."

But then what about those high-paid independent truckers?

Income from driving a truck is labor income, whether you're an employee or an independent contractor. Doesn't that mean these "measures" would prevent Trump's theoretical high-income independent trucker from benefiting from the cap in the way he described?

This proposal is bad

The Republican tax break for "small businesses" is both overinclusive and underinclusive.

Eighty-six percent of tax filers with business income would get no benefit at all from the proposal, because they're already taxed at a marginal rate of 25% or less. The 14% who would benefit are, to a first approximation, the richest 14% of American families with business income.

Even among this affluent 14%, the benefit for most would be small — knocking their marginal tax rate from a current 26% or 28% down to 25%.

And as I noted before, only the very richest slice of business owners — 670,000 of them, all making over $400,000 — would enjoy the full 40% reduction in their tax rate that Trump bragged about, from 39.6% down to 25%.

And many of these 670,000 are not small-business owners. They may own large businesses that happen to use a pass-through tax structure. Many of Trump's own businesses are structured this way, so he would stand to benefit greatly from this provision.

These rich beneficiaries may also own wholly passive investments that use pass-through structures, meaning they're not really in business at all.

This proposal is an attempt to smuggle a tax break for Trump and people like him under the guise that it is a tax cut for hardworking independent truckers and other Americans with similarly small-scale business ventures just trying to get by.

You should not fall for it.

Trump has been lying a lot about his 'small business' tax cut, Business Insider - Business Insider Singapore

Well whaddya know.....?

The Trump tax sketch includes plenty of "wins" for the billionaire class. It lowers the top income tax rate from 39.6% to 35. Saving 4.6% of their income is a nice prize for those couples already making

over $470,000 a year. It slashes the corporate tax rate from 35% to 20%. It eliminates the alternative minimum tax, which billionaires like Trump pay. It creates a special 25% tax rate for "small businesses," defined by their legal form of ownership as "pass-through entities."

What is such a thing? Well, technically it includes partnerships, limited liability companies, and S corporations. But the more relevant fact may be that President Trump personally owns nearly 500 of them.

http://edition.cnn.com/2017/09/27/op...ery/index.html

Originally Posted by harrybarracuda

It creates a special 25% tax rate for "small businesses," defined by their legal form of ownership as "pass-through entities."

Read the article I posted above for further explanation about why that so called small business tax rate is BS unless you are 1.8% of small business owners.

Originally Posted by bsnub

Read the article I posted above for further explanation about why that so called small business tax rate is BS unless you are 1.8% of small business owners.

Read the article I posted above for further explanation as to why orange cunto loves it.

Originally Posted by AntRobertson

Well that's readily and easily disproved:



Let he who is without sin cast the first stone, the Lord detests lying lips etc. etc.

​Q.E.D.

Those aren't words of hate,only observations

Originally Posted by harrybarracuda

You're stupid really, aren't you.

You really should try watching something other than Fox News.



https://www.nytimes.com/2017/09/27/u...lass-poor.html

No Fox News on true tv but I do watch CNN occasionally,as for the NYT not interested in that liberal,rag sheet.

Originally Posted by RPETER65

Those aren't words of hate,only observations

Your lies make the Sweet Baby Jesus cry, Repeater.

Originally Posted by AntRobertson

Your lies make the Sweet Baby Jesus cry, Repeater.

Originally Posted by AntRobertson

Your lies make the Sweet Baby Jesus cry, Repeater.

Why do you say lies? Or are you just spouting your usual dribble in an attempt at agitation?

Originally Posted by RPETER65

Why do you say lies?

Because you're being a hypocrite and then lying about it.

Trump being again a self-disappointment

Billionaire Democrat Doner Launches Trump Impeachment Campaign:

Gawd I wish they wouldn't have blocked comments

The short bus riders are putting up their pitchers again I see. Derp...

Originally Posted by bsnub

The short bus riders are putting up their pitchers again I see. Derp...

Did you sign the petition?

You can probably sign/donate several hundred times if you want.

We all know the Democrats are totally cool with that kinda behavior

https://action.needtoimpeach.com/act-s-og2?sc=ytb&utm_expid=.mS8HbSmGQDKe6d1SvCtwgw.2&utm _referrer=