The Briefing Room
General Category => Politics/Government => Topic started by: mystery-ak on September 13, 2019, 01:51:07 pm
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Thursday, 12 September 2019 08:33 PM
President Donald Trump said on Thursday his administration would unveil a tax overhaul plan aimed at middle-income households next year, amid the 2020 presidential election.
"We'll be announcing it sometime in the next year. But it'll be very, very substantial tax cut for middle-income folks who work so hard. And we'll look forward to that. We're going to work on it altogether," Trump told Republican lawmakers, without providing any additional details.
Trump has said his administration was considering potential tax cuts, seeking to play down market anxieties over a possible recession. At the end of 2017, Trump passed a tax overhaul passed by the Republican-led Congress.
more
https://www.newsmax.com/headline/trump-middleincome-tax-cut/2019/09/12/id/932472/ (https://www.newsmax.com/headline/trump-middleincome-tax-cut/2019/09/12/id/932472/)
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It should have already been done. I am supposed to vote for him on something he says? If I look at the record of the things he said and did its not looking good. But if he wins I guess we will see if he comes through.
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*YAWN*
(https://pbs.twimg.com/profile_images/3195240741/d1482dc9b97a17e3b89b1e8257520dd0_400x400.jpeg)
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*YAWN*
(https://pbs.twimg.com/profile_images/3195240741/d1482dc9b97a17e3b89b1e8257520dd0_400x400.jpeg)
That's great but the burger should be missing the patty.
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That's great but the burger should be missing the patty.
(https://www.adweek.com/files/wendys-wheres-the-beef.jpg)
:beer:
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I would rather see him unveil a middle class government spending plan. You know, one where the household has to balance its checking account each month.
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I would rather see him unveil a middle class government spending plan. You know, one where the household has to balance its checking account each month.
Yep. I am to the point of insisting upon a balanced budget, because without the platinum credit card, many ills will resolve themselves.
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His last IRS middle class tax plan (less taxes) has a stop date on it - it goes away, but the business tax reduction done at the same time, is forever.
Read the small print when this new one comes out.
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How will "middle class" be defined? I remember during the Clinton era. the definition of "middle class" changed with the wind. At one point, I think something like $50,000 was considered wealthy.
And @Victoria33 is right: Read the fine print. The last so-called "tax reform" did nothing for the average working person and what little it did had an expiration date.
What is really needed is to get rid of the whole dang thing and do something entirely different. Fair tax? Flat tax? I don't know, but the whole tax system is totally unfair and unreasonable.
Find it interesting that after the last so-called tax reform package was passed, we who did not benefit were told not to worry, that this was only beginning and more tax reform to benefit the rest of us would be coming. That was how long ago? Now that Trump is running for re-election and the senate may fall to the Democrats, Republicans are suddenly interested in this issue.
I doubt this will go anywhere, but even if it does, it's too little, too late.
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One blindingly obvious goal should be to index the ridiculously low income thresholds for Social Security taxation, which would help every middle income retiree. But that will never happen.
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Screw tax cuts. I don't want to borrow even more money we don't have. Balance the dang budget. Reduce spending. THEN talk about tax cuts.
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Screw tax cuts. I don't want to borrow even more money we don't have. Balance the dang budget. Reduce spending. THEN talk about tax cuts.
:beer:
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Screw tax cuts. I don't want to borrow even more money we don't have. Balance the dang budget. Reduce spending. THEN talk about tax cuts.
And stop trying to give tax cuts to people who are paying very little in income tax already!
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And stop trying to give tax cuts to people who are paying very little in income tax already!
I am all for tax cuts - and everybody is paying, income tax or not - But it don't make a dang bit of sense to cut taxes without cutting spending. Seriously cutting spending - Like in HALF, would be a good start.
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Federal spendind should never exceed 18% of GDP.
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Federal spendind should never exceed 18% of GDP.
Right. That is in line with office/management costs in business generally. Though you can't take an axe to it yet, because of the debt. 'Spending' will have to remain high in order to pay it down. After that, don't go down that road no more. But that's a subject matter for our grandchildren to raise in their old age.
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Federal spendind should never exceed 18% of GDP.
Federal spending on debt service should never exceed 18% of GDP.
Which one of those do you think we'll see first?
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His last IRS middle class tax plan (less taxes) has a stop date on it - it goes away, but the business tax reduction done at the same time, is forever.
Read the small print when this new one comes out.
His last tax plan took away mileage and vehicle expenses for employees, expenses for overnight travel for employees, and a host of other deductions which mean more of my income that I have to spend to make the money gets taxed.
Oh yeah, I'm really looking forward to more 'favors'. **nononono*
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And stop trying to give tax cuts to people who are paying very little in income tax already!
In relation to what? I am all for the fair tax. Cruz had an excellent tax plan.
https://conservativehardliner.com/ted-cruz-advocates-fair-tax
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In relation to what? I am all for the fair tax. Cruz had an excellent tax plan.
https://conservativehardliner.com/ted-cruz-advocates-fair-tax
The problem with the "fair tax" is that I already paid income taxes on my meager assets .The idea of paying a consumption tax when I spend what I have left isn't very appealing. Give me a workaround for that and I'm all for it.
(though one drawback is illegals who send earnings out of the country avoid taxation. There may well be other drawbacks too that I haven't thought of yet.)
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I have no problems with Mr. Trump's prior (and now-implemented) tax cuts.
They cut MY taxes a good deal.
Looking forward to more!