Author Topic: Trump wants a 'phase two' of tax cuts  (Read 962 times)

0 Members and 1 Guest are viewing this topic.

Offline Formerly Once-Ler

  • Member
  • ***
  • Posts: 0
Trump wants a 'phase two' of tax cuts
« on: March 15, 2018, 05:29:55 am »
https://www.cnbc.com/2018/03/12/trump-wants-a-phase-two-of-tax-cuts.html
Quote
Published 1:14 PM ET Mon, 12 March 2018
President Donald Trump said again Monday he wants a "phase two" of tax cuts on top of the law Republicans passed in December.

Speaking as the World Series champion Houston Astros visited the White House, Trump asked Rep. Kevin Brady, R-Texas, whether he planned to cut taxes further. Brady and GOP Sens. John Cornyn and Ted Cruz were among the lawmakers from Texas attending the event.

"Kevin, are we going for an additional tax cut, I understand?" Trump asked, drawing laughter from those gathered for the event. "Huh? He's the king of those tax cuts, yeah? We're going to do a phase two, I'm hearing that. You hear that, John and Ted? Phase two. We're actually very serious about that, Kevin. So, it's good."

Trump previously joked about "phase two" while speaking to GOP lawmakers in February.

President Trump once again talked about phase two of the tax cuts yesterday at his fundraiser in Missouri.
! No longer available

Offline Suppressed

  • Hero Member
  • *****
  • Posts: 12,921
  • Gender: Male
    • Avatar
Re: Trump wants a 'phase two' of tax cuts
« Reply #1 on: March 15, 2018, 10:59:51 am »
Well, Dude, maybe if you'd acted like a responsible adult, you'd be in a position to get it.  Instead, you're gonna get a pro-tax Congress.  Thanks, buddy.
+++++++++
“In the outside world, I'm a simple geologist. But in here .... I am Falcor, Defender of the Alliance” --Randy Marsh

“The most effectual means of being secure against pain is to retire within ourselves, and to suffice for our own happiness.” -- Thomas Jefferson

“He's so dumb he thinks a Mexican border pays rent.” --Foghorn Leghorn

Offline edpc

  • Hero Member
  • *****
  • Posts: 14,879
  • Gender: Male
  • Professional Misanthrope - Briefer and Boxer
Re: Trump wants a 'phase two' of tax cuts
« Reply #2 on: March 15, 2018, 11:43:21 am »
Any tax cuts are good.  Why does he insist on undercutting the bill by saying they’re the biggest of all time?  It’s so easily proven wrong.
I disagree.  Circle gets the square.

Offline To-Whose-Benefit?

  • Hero Member
  • *****
  • Posts: 7,613
  • Gender: Male
    • Wulf Anson Author
Re: Trump wants a 'phase two' of tax cuts
« Reply #3 on: March 15, 2018, 08:45:30 pm »
Any tax cuts are good.  Why does he insist on undercutting the bill by saying they’re the biggest of all time?  It’s so easily proven wrong.

Probably to PO the Democrats and Media so he can go back to pointing and saying "You're Fake News. Very, Very Fake News."
My 'Viking Hunter' High Adventure Alternate History Series is FREE, ALL 3 volumes, at most ebook retailers including Ibooks, Barnes and Noble, Kobo, and more.

In Vol 2 the weapons come out in a winner take all war on two fronts.

Vol 3 opens with the rigged murder trial of the villain in a Viking Court under Viking law to set the stage for the hero's own murder trial.

http://wulfanson.blogspot.com

Online cato potatoe

  • Hero Member
  • *****
  • Posts: 3,933
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #4 on: March 15, 2018, 09:01:29 pm »
Phase two of tax cuts can be discussed after phases 1-3 of spending reductions.

Offline Jazzhead

  • Blue lives matter
  • Hero Member
  • *****
  • Posts: 11,593
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #5 on: March 15, 2018, 09:34:34 pm »
Phase two needs to be entitlement reform.    That's what should have been done years ago and will be even more difficult to stomach if we keep on kicking the can.    Raise the wage base.  Raise the full retirement age.   Change the formula for cost of living adjustments.   For Medicare,  raise premiums to rates that will permit private insurance competition and then subsidize those with lower incomes. 

These are sensible reforms,  and will permit tax cuts because we have finally gotten long term spending under control.       

Which party is going to take up this task?    WHICH ONE?   
It's crackers to slip a rozzer the dropsy in snide

Offline Fantom

  • Hero Member
  • *****
  • Posts: 3,030
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #6 on: March 15, 2018, 10:30:15 pm »
Phase two of tax cuts can be discussed after phases 1-3 of spending reductions.

This.  :beer: All of it though after, midterms. Let us see how grow works first.
Those who profess to favor freedom, and yet deprecate agitation, are men who want crops without plowing up the ground, they want rain without thunder and lightning, they want the ocean without the awful roar of its many waters.

Frederick Douglass

Offline Applewood

  • Hero Member
  • *****
  • Posts: 10,361
Re: Trump wants a 'phase two' of tax cuts
« Reply #7 on: March 15, 2018, 10:46:37 pm »
I didn't get the phase I tax cuts. 

Actually, I don't want tax cuts as such.  I want a complete overhaul of our entire tax system.

Offline DB

  • Hero Member
  • *****
  • Posts: 13,420
Re: Trump wants a 'phase two' of tax cuts
« Reply #8 on: March 15, 2018, 10:55:24 pm »
Phase two needs to be entitlement reform.    That's what should have been done years ago and will be even more difficult to stomach if we keep on kicking the can.    Raise the wage base.  Raise the full retirement age.   Change the formula for cost of living adjustments.   For Medicare,  raise premiums to rates that will permit private insurance competition and then subsidize those with lower incomes. 

These are sensible reforms,  and will permit tax cuts because we have finally gotten long term spending under control.       

Which party is going to take up this task?    WHICH ONE?

The party in DC loves handing out the candy. There's no chance at this point anyone will reform any entitlement in a meaningful way. Even with Obamacare they kept the handout/entitlement but got rid of mandate spreading the cost around. Just more "free" stuff... At least for the chosen...

Offline RoosGirl

  • Hero Member
  • *****
  • Posts: 16,759
Re: Trump wants a 'phase two' of tax cuts
« Reply #9 on: March 15, 2018, 11:07:09 pm »
Phase two needs to be entitlement reform.    That's what should have been done years ago and will be even more difficult to stomach if we keep on kicking the can.    Raise the wage base.  Raise the full retirement age.   Change the formula for cost of living adjustments.   For Medicare,  raise premiums to rates that will permit private insurance competition and then subsidize those with lower incomes. 

These are sensible reforms,  and will permit tax cuts because we have finally gotten long term spending under control.       

Which party is going to take up this task?    WHICH ONE?

By your suggestion that the full retirement age be raised, am I to take that you're calling SS an entitlement?

Offline DB

  • Hero Member
  • *****
  • Posts: 13,420
Re: Trump wants a 'phase two' of tax cuts
« Reply #10 on: March 15, 2018, 11:13:24 pm »
By your suggestion that the full retirement age be raised, am I to take that you're calling SS an entitlement?

en·ti·tle·ment
/inˈtīdlmənt, enˈtīdlmənt/
noun
the fact of having a right to something.
"full entitlement to fees and maintenance should be offered"
synonyms:   right, prerogative, claim.

Just try telling someone they don't have a right to it...

Adding...

There is no trust fund. There is no investment. SS is a tax that goes into the general fund. It has been that way since it was started.
« Last Edit: March 15, 2018, 11:16:39 pm by DB »

Offline Fantom

  • Hero Member
  • *****
  • Posts: 3,030
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #11 on: March 15, 2018, 11:29:43 pm »
Phase two needs to be entitlement reform.    That's what should have been done years ago and will be even more difficult to stomach if we keep on kicking the can.    Raise the wage base.  Raise the full retirement age.   Change the formula for cost of living adjustments.   For Medicare,  raise premiums to rates that will permit private insurance competition and then subsidize those with lower incomes. 

These are sensible reforms,  and will permit tax cuts because we have finally gotten long term spending under control.       

Which party is going to take up this task?    WHICH ONE?

Last first as is my wont.

I would preface my following remarks, that Jazz and I are usually polar opposites. @Jazzhead

But he hits upon a few key points we could agree upon.. as for  Medicare...how about letting Americans opt out while still getting the SS they have paid into for a lifetime.  ... Raise premiums, yes, sorry Jazz... that is not what I am accustomed from you.


We diverge on the Raise the wage base. portion of his argument. We already tax what...near $120,000 in earnings for SS. That is enough, as anyone beyond that earnings can take care of themselves. Below that earnings, they pay for themselves.... as Socialist SS pays.
Those who profess to favor freedom, and yet deprecate agitation, are men who want crops without plowing up the ground, they want rain without thunder and lightning, they want the ocean without the awful roar of its many waters.

Frederick Douglass

Offline RoosGirl

  • Hero Member
  • *****
  • Posts: 16,759
Re: Trump wants a 'phase two' of tax cuts
« Reply #12 on: March 16, 2018, 01:16:23 am »
en·ti·tle·ment
/inˈtīdlmənt, enˈtīdlmənt/
noun
the fact of having a right to something.
"full entitlement to fees and maintenance should be offered"
synonyms:   right, prerogative, claim.

Just try telling someone they don't have a right to it...

Adding...

There is no trust fund. There is no investment. SS is a tax that goes into the general fund. It has been that way since it was started.

That is not the way that it is passed off.

Offline Jazzhead

  • Blue lives matter
  • Hero Member
  • *****
  • Posts: 11,593
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #13 on: March 16, 2018, 04:37:17 pm »
Last first as is my wont.

I would preface my following remarks, that Jazz and I are usually polar opposites. @Jazzhead

But he hits upon a few key points we could agree upon.. as for  Medicare...how about letting Americans opt out while still getting the SS they have paid into for a lifetime.  ... Raise premiums, yes, sorry Jazz... that is not what I am accustomed from you.


We diverge on the Raise the wage base. portion of his argument. We already tax what...near $120,000 in earnings for SS. That is enough, as anyone beyond that earnings can take care of themselves. Below that earnings, they pay for themselves.... as Socialist SS pays.

Raising the wage base isn't ideal,  and would have been unnecessary if we hadn't kicked the can on entitlement reform.   But raising the wage base may now be necessary because we've dawdled.    If, say, the choice is between raising full retirement age to 72 and keeping the SS wage base,  or raising it to 70 while eliminating the wage base, which would you choose?

This is not a question of ideology,  but rather how to most fairly fix an actuarial problem.    You either increase revenue or adjust benefits, or some combination.    I don't think it is helpful to eliminate certain potential fixes on the basis of fiction.   The taxes you and I pay aren't our "payments in" with respect to our future benefits, but rather to pay the benefits promised to current retirees.  And in the broad sense of the term,  SS and Medicare is just welfare - young folks being taxed to provide us old folks with retirement security.    The only "entitlement" is a claim on the tax dollars of the young.   

The wage base, as I'm sure you're aware,  no longer exists for the Medicare portion of FICA.    Folks earning over $120,000 a year are taxed to provide this "entitlement" for the aged,  even though they won't receive a greater Medicare benefit than anyone else (and, to the contrary, they will likely pay greater premiums for that same benefit, thus getting screwed both coming and going.)

« Last Edit: March 16, 2018, 04:58:35 pm by Jazzhead »
It's crackers to slip a rozzer the dropsy in snide

Offline truth_seeker

  • Hero Member
  • *****
  • Posts: 28,386
  • Gender: Male
  • Common Sense Results Oriented Conservative Veteran
Re: Trump wants a 'phase two' of tax cuts
« Reply #14 on: March 16, 2018, 05:02:48 pm »
Phase two needs to be entitlement reform.    That's what should have been done years ago and will be even more difficult to stomach if we keep on kicking the can.    Raise the wage base.  Raise the full retirement age.   Change the formula for cost of living adjustments.   For Medicare,  raise premiums to rates that will permit private insurance competition and then subsidize those with lower incomes. 

These are sensible reforms,  and will permit tax cuts because we have finally gotten long term spending under control.       

Which party is going to take up this task?    WHICH ONE?

As we sit now, neither party. The Republican Party is not a unified organization with the ability to achieve Majority rule.

Consequently it has NEVER achieved both tax and spending cuts, of significance.  Hence continued deficit growth.

Compared to other advanced countries, we spend proportionately way more for both defense and health care, but get less.

We feed vast military-industrial industries--we start but never finish conflicts. 

... and vast healthcare industries. (Our doctors are paid more but our outcomes lag other countries. We make far more pills than are accounted for.)

Common sense and competency seem to be going backwards. FBI/Cops/sheriffs/school admins that virtually ignore a kid shouting he will shoot up his school.

Down the highway, a bridge collapses.

Russia DID sow discord, and very wisely judged  America seems to fall for discord at every turn.

America and conservatism are divided, and not united.

Religious conservatives claim to have the only true path.

Libertarian conservatives claim to reflect the founders ideas best.

Moderates claim to best reflect the compromises and unity that have given this nation longevity.
"God must love the common man, he made so many of them.�  Abe Lincoln

Offline Jazzhead

  • Blue lives matter
  • Hero Member
  • *****
  • Posts: 11,593
  • Gender: Male
Re: Trump wants a 'phase two' of tax cuts
« Reply #15 on: March 16, 2018, 05:24:43 pm »

America and conservatism are divided, and not united.

Religious conservatives claim to have the only true path.

Libertarian conservatives claim to reflect the founders ideas best.

Moderates claim to best reflect the compromises and unity that have given this nation longevity.

Well said, TS - a succinct description of the fratricidal divide in the conservative movement.   And the only way to fix it is for all three factions to acknowledge the goodwill and patriotism of the others,  and to the need to unite to form a coalition that can effectively wield political power and influence.   
It's crackers to slip a rozzer the dropsy in snide

Offline Bigun

  • Hero Member
  • *****
  • Posts: 51,632
  • Gender: Male
  • Resistance to Tyrants is Obedience to God
    • The FairTax Plan
Re: Trump wants a 'phase two' of tax cuts
« Reply #16 on: March 16, 2018, 05:57:06 pm »
Phase two needs to be just pass the Fairtax into law and be done with it once and for all!  Kevin Brady well knows this I will assure you!

http://fairtax.org
"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien