Trump to friends following tax bill: 'You all just got a lot richer'

[mystery-ak]

Trump to friends following tax bill: 'You all just got a lot richer'
by Kelly Cohen | Dec 24, 2017, 9:42 AM

President Trump told his friends at Mar-a-Lago in Palm Beach, Fla., Friday night, “You all just got a lot richer," hours after signing a sweeping tax bill into law.

According to CBS News, he made the comments to friends dining nearby at the exclusive club, his first night at what has been dubbed the “Winter White House.”

The tax overhaul the first major legislative accomplishment of Trump’s first presidency in office.

The law's most significant features are a drastic and permanent reduction in the corporate tax rate and an overhaul of the individual code through 2025 that will reduce rates, double the child tax credit, nearly double the standard deduction, and limit a number of tax deductions, such as on mortgage interest and state and local taxes, the Washington Examiner reported Friday.

more
http://www.washingtonexaminer.com/trump-to-friends-following-tax-bill-you-all-just-got-a-lot-richer/article/2644317

[Chosen Daughter]

Trump to friends following tax bill: 'You all just got a lot richer'
by Kelly Cohen | Dec 24, 2017, 9:42 AM

President Trump told his friends at Mar-a-Lago in Palm Beach, Fla., Friday night, “You all just got a lot richer," hours after signing a sweeping tax bill into law.

According to CBS News, he made the comments to friends dining nearby at the exclusive club, his first night at what has been dubbed the “Winter White House.”

The tax overhaul the first major legislative accomplishment of Trump’s first presidency in office.

The law's most significant features are a drastic and permanent reduction in the corporate tax rate and an overhaul of the individual code through 2025 that will reduce rates, double the child tax credit, nearly double the standard deduction, and limit a number of tax deductions, such as on mortgage interest and state and local taxes, the Washington Examiner reported Friday.

more
http://www.washingtonexaminer.com/trump-to-friends-following-tax-bill-you-all-just-got-a-lot-richer/article/2644317

I had read this earlier.  To me its very bold and slightly offensive, unless the average American gets richer too.

[truth_seeker]

I had read this earlier.  To me its very bold and slightly offensive, unless the average American gets richer too.

Can't you just be content to look at your own pay, or must you look over the shoulders of others, to their pay?

I find it slightly offensive, that folks claiming to be on the political right, at the end of the day, are envious of the wealth of others, and in search of "equality," which is precisely the scenario the left uses to divide.

Merry Christmas from Trump, Ryan, McConnell and Republicans.

No democrats gave you Christmas tax cuts, nor did a single 3rd party representative.

[Cyber Liberty]

Can't you just be content to look at your own pay, or must you look over the shoulders of others, to their pay?

I find it slightly offensive, that folks claiming to be on the political right, at the end of the day, are envious of the wealth of others, and in search of "equality," which is precisely the scenario the left uses to divide.

Merry Christmas from Trump, Ryan, McConnell and Republicans.

No democrats gave you Christmas tax cuts, nor did a single 3rd party representative.

That's a pet peeve of mine.  The only taxes any of us should care about are our own.  Caring about what others are paying is nothing more than the sin of Envy rearing its ugly head.

[Concerned]

Can't you just be content to look at your own pay, or must you look over the shoulders of others, to their pay?

I find it slightly offensive, that folks claiming to be on the political right, at the end of the day, are envious of the wealth of others, and in search of "equality," which is precisely the scenario the left uses to divide.

Merry Christmas from Trump, Ryan, McConnell and Republicans.

No democrats gave you Christmas tax cuts, nor did a single 3rd party representative.

Apparently Trump, Ryan, McConnell and the Republicans don’t wish me a Merry Christmas because they’ve given me a big lump of coal with a tax increase.   Losing SALT in NJ is a killer for me. 

[DCPatriot]

IMO, he was chiding them into following AT&T's example.

As a great American once said one Tuesday morning, "LET'S ROLL!"

[Applewood]

I had read this earlier.  To me its very bold and slightly offensive, unless the average American gets richer too.

I don't know about richer, but I think this bill will give most people some relief.  Of course, not everyone will benefit.  I'm convinced we will always have someone suffering no matter what is done to the tax system simply because no one in DC wants to scrap the system entirely and come up with something more equitable.  The system we have now is inequitable and no amount of tinkering will fix that. 

I have to talk to my tax guy, but  as far as I can tell, the effect on me  personally will be neutral, and that's fine.  I never expected to get rich and really, I don't want to.  I hate fur, don't wear jewelry, caviar makes me hurl and I don't need a 20 room mansion and a yacht.  Sometimes I wish I had more money to travel, but overall, I'm satisfied with my life as it is.    If someone else does better than me -- more power to them. 

[berdie]

I don't know about richer, but I think this bill will give most people some relief.  Of course, not everyone will benefit.  I'm convinced we will always have someone suffering no matter what is done to the tax system simply because no one in DC wants to scrap the system entirely and come up with something more equitable.  The system we have now is inequitable and no amount of tinkering will fix that. 

I have to talk to my tax guy, but  as far as I can tell, the effect on me  personally will be neutral, and that's fine.  I never expected to get rich and really, I don't want to.  I hate fur, don't wear jewelry, caviar makes me hurl and I don't need a 20 room mansion and a yacht.  Sometimes I wish I had more money to travel, but overall, I'm satisfied with my life as it is.    If someone else does better than me -- more power to them.

I agree with all you said...except the part about caviar.

Of course the rich would get a bigger tax cut...they pay the most. As the old saying goes...I never had a poor man give me a job.

[Restored]

It sounds like Fake News. There was no discernible source

[Cyber Liberty]

Attribution unknown:

How Taxes Work . . .

This is a VERY simple way to understand the tax laws. Read on — it does make you think!!

Let’s put tax cuts in terms everyone can understand. Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

The first four men — the poorest — would pay nothing; the fifth would pay $1, the sixth would pay $3, the seventh $7, the eighth $12, the ninth $18, and the tenth man — the richest — would pay $59.

That’s what they decided to do. The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement — until one day, the owner threw them a curve (in tax language a tax cut).

“Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily meal by $20.” So now dinner for the ten only cost $80.00.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still eat for free. But what about the other six — the paying customers? How could they divvy up the $20 windfall so that everyone would get his “fair share?”

The six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would end up being PAID to eat their meal. So the restaurant owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so the fifth man paid nothing, the sixth pitched in $2, the seventh paid $5, the eighth paid $9, the ninth paid $12, leaving the tenth man with a bill of $52 instead of his earlier $59. Each of the six was better off than before. And the first four continued to eat for free.

But once outside the restaurant, the men began to compare their savings. “I only got a dollar out of the $20,” declared the sixth man who pointed to the tenth. “But he got $7!”

“Yeah, that’s right,” exclaimed the fifth man, “I only saved a dollar, too … It’s unfair that he got seven times more than me!”.

“That’s true!” shouted the seventh man, “why should he get $7 back when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “We didn’t get anything at all. The system exploits the poor!”

The nine men surrounded the tenth and beat him up. The next night he didn’t show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered, a little late what was very important. They were FIFTY-TWO DOLLARS short of paying the bill! Imagine that!

And that, boys and girls, journalists and college instructors, is how the tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore.

And now we know why the Feds throw people in jail when they don't want to pay their taxes.  It keeps them chained to the table.  Makes one wonder who the slaves in our system really are?

[Chosen Daughter]

That's a pet peeve of mine.  The only taxes any of us should care about are our own.  Caring about what others are paying is nothing more than the sin of Envy rearing its ugly head.

Jesus said it was easier for a Camel to go through the eye of a needle than a rich man to enter the Kingdom of God.  Trump was literally goading about how he was helping his rich friends.  Whatever.  Rich usually don't get rich by themselves.  When we talk about corporate tax cuts you should also remember it takes people to run them.











I know the wealthiest pay the most taxes.  Blah, blah, blah.  And what percentage of the U.S is made up of average working people with a modest income?

[Cyber Liberty]

Jesus said it was easier for a Camel to go through the eye of a needle than a rich man to enter the Kingdom of God.  Trump was literally goading about how he was helping his rich friends.  Whatever.  Rich usually don't get rich by themselves.  When we talk about corporate tax cuts you should also remember it takes people to run them.







I know the wealthiest pay the most taxes.  Blah, blah, blah.  And what percentage of the U.S is made up of average working people with a modest income?

I read the article, and clicked through all the source links.  He is not directly quoted, nor is anybody quoted as saying he said it.  The quote about making his friends "rich" is very likely made up out of whole cloth.  Maybe there is some unattributed source somewhere?  I guess I'll have to google the alleged quote.  Maybe Snopes will have something on it.

Added:  with Google I located the SeeBS article the Examiner forgot to link.  No reporter heard it, and there is no attribution to anybody of the quote.  "...two friends at a table near the president's who described the remark to CBS News."  That's all.

https://www.cbsnews.com/news/trump-mar-a-lago-christmas-trip/

I'm not going with the now trivialized "fake news," but I will point out this is a heavily biased source relying on unnamed sources for a highly volatile quote.

[Chosen Daughter]

I read the article, and clicked through all the source links.  He is not directly quoted, nor is anybody quoted as saying he said it.  The quote about making his friends "rich" is very likely made up out of whole cloth.  Maybe there is some unattributed source somewhere?  I guess I'll have to google the alleged quote.  Maybe Snopes will have something on it.

If he didn't say it I would be the first to say forgive me.  But those working people are the ones who got Trump elected.  They probably do expect some return also.

[truth_seeker]

Apparently Trump, Ryan, McConnell and the Republicans don’t wish me a Merry Christmas because they’ve given me a big lump of coal with a tax increase.   Losing SALT in NJ is a killer for me.

I living in Calif. and you living in NJ get little or no benefit, due to OUR OWN STATES' high tax rates, NOT due to this tax measure.

[Cyber Liberty]

If he didn't say it I would be the first to say forgive me.  But those working people are the ones who got Trump elected.  They probably do expect some return also.

I added something to my post.  No need for any apologies because there is no way to disprove anything, which is how this always works.   

[Chosen Daughter]

I living in Calif. and you living in NJ get little or no benefit, due to OUR OWN STATES' high tax rates, NOT due to this tax measure.

Washington state also.  Double whammy.  State and Federal.

[Chosen Daughter]

I added something to my post.  No need for any apologies because there is no way to disprove anything, which is how this always works.   

I don't find it unbelievable.  He's extremely rich and so are the guests.

[Cyber Liberty]

I don't find it unbelievable.  He's extremely rich and so are the guests.

I don't care if he did (and I doubt that he did).  Doesn't matter to me.  I don't even care if my taxes go up or down over this, I just want to see more people working like the ones in the pictures you posted, which is the real point of the tax cuts.  I happen to work in the field you illustrated, and I know how capital intensive it is.  I've been watching round after round of layoffs for the last 20 years, and I'd like it to stop.

[truth_seeker]

As general rules, the people signing paychecks are fairly rich.

They got that way, by employing many people, delivering goods and services which people want, need and pay for.

The other day a rocket launched from Vandenberg carrying commercial satellites into orbit.

SpaceX did this, NOT the US govt. Elon Musk, Tesla.

SpaceX employees 7,000 people. Capitalism. Free enterprise. The American way.

Yes, I know he is despised for his auto venture, but nonetheless OVERALL he is a farsighted person of accomplishments.

I do not envy the wealth of people like him. I admire him for his successes. 

There are people all across America, working with their hands and their minds, employing two to 2 hundred thousand, signing paychecks.

Farmers and miners, people willing to go to where the work is, instead of sitting in place bitching about it.

They get up off their rear ends, and work. Take risks. Take out 2nd mortgages on their property, hoping to make a bunch of money.

For those that win, the payoff is luxury, toys for FEW. But for many it is just longer hours, tending to business.

People with a lot, usually work A LOT. for it.

[Concerned]

I living in Calif. and you living in NJ get little or no benefit, due to OUR OWN STATES' high tax rates, NOT due to this tax measure.

With this tax “reform” bill, I am losing the ability to take a huge deduction (for me) that I previously  was allowed to (a limit of $10K represents a big tax increase for me).   Look, I get there are winners and losers and I’m a loser but nothing changed on the state and local side. The only change was the disallowal of this deduction (above $10K) as a result of this “reform” bill.   

[Cyber Liberty]

With this tax “reform” bill, I am losing the ability to take a huge deduction (for me) that I previously  was allowed to (a limit of $10K represents a big tax increase for me).   Look, I get there are winners and losers and I’m a loser but nothing changed on the state and local side. The only change was the disallowal of this deduction (above $10K) as a result of this “reform” bill.

Maybe you're not asking the right questions of the right people.  You and others in the states you describe should be asking your own State and Local governments why they tax so much from you that you need to itemize your Federal 1040 to get a break.

[Chosen Daughter]

I don't care if he did (and I doubt that he did).  Doesn't matter to me.  I don't even care if my taxes go up or down over this, I just want to see more people working like the ones in the pictures you posted, which is the real point of the tax cuts.  I happen to work in the field you illustrated, and I know how capital intensive it is.  I've been watching round after round of layoffs for the last 20 years, and I'd like it to stop.

I also work in one of those fields for close to 40 years.  I do care if my taxes go up.  I have seen it all.  Down sizing, layoffs.......etc.  I have seen Republicans move in support of amnesty and outsourcing.  H1-H2B hiring.  Just trying to make a living for my family.  I am tired of the rich-poor arguments.  We are Americans.  Trump ran on MAGA.  Lets hope he comes through for all Americans and the layoffs, outsourcing and down sizing stops.  And Americans can claim the jobs that should be rightfully theirs because illegal immigration drives down wages.  Politicians and their anti-American policies have screwed the American workers.  Just plain fact.  And Trump promised he would fix it.  When Trumps policies become favorable to American workers I will consider him a man of his word.

https://www.politico.com/magazine/story/2016/09/trump-clinton-immigration-economy-unemployment-jobs-214216

[Cyber Liberty]

I also work in one of those fields for close to 40 years.  I do care if my taxes go up.  I have seen it all.  Down sizing, layoffs.......etc.  I have seen Republicans move in support of amnesty and outsourcing.  H1-H2B hiring.  Just trying to make a living for my family.  I am tired of the rich-poor arguments.  We are Americans.  Trump ran on MAGA.  Lets hope he comes through for all Americans and the layoffs, outsourcing and down sizing stops.  And Americans can claim the jobs that should be rightfully theirs because illegal immigration drives down wages.  Politicians and their anti-American policies have screwed the American workers.  Just plain fact.  And Trump promised he would fix it.  When Trumps policies become favorable to American workers I will consider him a man of his word.

https://www.politico.com/magazine/story/2016/09/trump-clinton-immigration-economy-unemployment-jobs-214216

We both have our eye on that ball, @Chosen Daughter.  I'm tired of the rich-poor arguments, too, and this issue of "Who gets the better tax break (or none)" is a distraction.  I want our workers busy again, or it's not going to matter how much we're taxed, or which income level gets hit (or not).

[Chosen Daughter]

We both have our eye on that ball, @Chosen Daughter.  I'm tired of the rich-poor arguments, too, and this issue of "Who gets the better tax break (or none)" is a distraction.  I want our workers busy again, or it's not going to matter how much we're taxed, or which income level gets hit (or not).

I liked Ted Cruz tax plan.  I am for fair tax.  Flat tax.......  I don't care to take away from anyone who has earned their money.  But I don't want them to take it away from me either.  This tax bill they just passed seems like another IRS creation.  Not for the people.

[Cyber Liberty]

I liked Ted Cruz tax plan.  I am for fair tax.  Flat tax.......  I don't care to take away from anyone who has earned their money.  But I don't want them to take it away from me either.  This tax bill they just passed seems like another IRS creation.  Not for the people.

It's like expecting Congress to pass a law limiting their terms, not gonna happen.  They love the tax code, it's how they get to tell all us peons how to live our lives.  I don't expect any serious correction of this situation short of another bloody revolution.  What's that old saying?  "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards."  -- Claire Wolfe