Trump Tax Cuts

[KCFlyer]

Yep....this is pretty much what we did in Kansas.

http://www.businessinsider.com/trump-plans-to-use-dynamic-scoring-to-justify-budget-2016-11

Granted, a much smaller scale - but what we've done in Kansas is skip funding the state employees pension plan twice in the past 4 years...of course they DID put some "sensible language" in that if they did this, the funds would need to be repaid with 8% interest...which is pretty cool since the average CD is paying 1% and returns on the stock market aren't consistently that high...so they might as well have said "pay it back with 800% interest" since it will never be repaid. The bottom line for state employees in Kansas is "screw you'.

The next thing they did was shift money from highway funds cover shortfalls elsewhere. Those actions are kind of like paying your Visa bill with your American Express card and thinking everything is hunky dory.

Now...we had these shortfalls despite massive cuts in social services (we hate deadbeats in Kansas...including grandma and grandpa) and drastic cuts to mental health services (they can still buy and carry a gun in public though - so all is well). They also cut education funding to levels deemed unconstitutional according to the Kansas constitution, so they labeled the Supreme Court judges "activist judges" and tried to get them unseated in the last election (they failed).

But the bottom line is - 4 years ago, Kansas was considered a "grand experiment" of Laugher/trickle down policies. As a lab rat living in the petri dish that is Kansas, I can say it was an abject failure. And it's about to be implemented on a national scale. God help America.

 

[Seatacus]

No, the Evil Rich would not pay less with a flat tax. Last time I checked 20% of $1,000,000 is a lot more than 20% of $50,000!

SW, I meant would they pay less than they pay now.

 

[KCFlyer]

SW, I meant would they pay less than they pay now.

Yes, they would pay a LOT less. Most middle class and below would pay MORE. They leave that part out. AFter you get to a "total taxable income" number (after deductions and exemptions), the average middle class person is paying an effective rate of about 15%, so they, along with the deadbeat poor, would pay more in taxes while those in the upper brackets would pay considerably less. Then don't you see, with all this freed up money, jobs will be created in numbers we never thought possible before.

 

[jimntx]

SW, I meant would they pay less than they pay now.

Problem lies in the superior ability of the evil rich to hide their money from the government. All done legally, but nevertheless...If the evil rich are coughing up 20% of $1 million, that means they've got $5 million stashed overseas somewhere. Given the holes in the Tax Code which bleed money owed to the government, if I were a member of the evil rich you can bet your bottom dollar I would do exactly the same. The Tax Code needs to be re-written to eliminate the myriad loopholes (put in by Congress so they can make use of them). Then and only then would a flat tax be anywhere near workable or fair.

 

[jimntx]

Yes, they would pay a LOT less. Most middle class and below would pay MORE. They leave that part out. AFter you get to a "total taxable income" number (after deductions and exemptions), the average middle class person is paying an effective rate of about 15%, so they, along with the deadbeat poor, would pay more in taxes while those in the upper brackets would pay considerably less. Then don't you see, with all this freed up money, jobs will be created in numbers we never thought possible before.

I must say KCflyer, I find that level of naivete refreshing in someone your age. LOL

 

[KCFlyer]

Yes, they would pay a LOT less. Most middle class and below would pay MORE. They leave that part out. AFter you get to a "total taxable income" number (after deductions and exemptions), the average middle class person is paying an effective rate of about 15%, so they, along with the deadbeat poor, would pay more in taxes while those in the upper brackets would pay considerably less. Then don't you see, with all this freed up money, jobs will be created in numbers we never thought possible before.

I must say KCflyer, I find that level of naivete refreshing in someone your age. LOL

Sarcasm doesn't carry over to the written word very well. I live in a state (Kansas) that has been the "experiment" that Trump intends to implement on a national scale. This was 4 years ago and we are still waiting for the magic to happen.

 

[jimntx]

KCFlyer, I knew you were being sarcastic. Did you not notice the LOL at the end of my post? The trickle down philosophy has never worked nor will it this time around. And, if you wait another 4 years, the powers that be will find that the failure of the trickle down was your fault. "They" did everything perfectly.

 

[KCFlyer]

KCFlyer, I knew you were being sarcastic. Did you not notice the LOL at the end of my post? The trickle down philosophy has never worked nor will it this time around. And, if you wait another 4 years, the powers that be will find that the failure of the trickle down was your fault. "They" did everything perfectly.

You are exactly right...we've been living with it in Kansas for 4 years. Still waiting for all these jobs to be created. They have slashed spending to the bone, so it's not really a spending issue, it IS a revenue issue - and the revenues aren't coming in. Month after month of reports showing that revenues were below projections and the governor offered up the solution - quit providing the reports. Yep.....problem solved.

 

[jimntx]

Trump promised big tax cuts for the middle class. but...
WASHINGTON (AP) — President-elect Donald Trump's proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They'd pay more.

And, while most middle income Americans would receive modest tax cuts of about 2%, [those tax cuts] would be dwarfed by the average 13.5% tax cuts for America's richest 1%.

http://finance.yahoo.com/news/middle-class-trump-plan-mean-tax-increase-153628510--finance.html

I'm shocked. Shocked, I tell you. Round up the usual suspects.

 

[Bob Dylan Flyboy]

Trump promised big tax cuts for the middle class. but...
WASHINGTON (AP) — President-elect Donald Trump's proposals would modestly cut income taxes for most middle-class Americans. But for nearly 8 million families — including a majority of single-parent households — the opposite would occur: They'd pay more.

And, while most middle income Americans would receive modest tax cuts of about 2%, [those tax cuts] would be dwarfed by the average 13.5% tax cuts for America's richest 1%.

http://finance.yahoo.com/news/middle-class-trump-plan-mean-tax-increase-153628510--finance.html

I'm shocked. Shocked, I tell you. Round up the usual suspects.

Your first mistake was actually believing TPC is "non-partisan". They are funded by two left wing think tanks. How else do you think they would spin this?

Try some independent thought and not fall for every fake news story someone shares on your Facebook.

 

[Glenn Quagmire]

http://www.taxpolicycenter.org/about

Smart people are scary, must not be believed, and any research done by them, no matter the peer review, must be treated as fiction.

Jim, you will learn.

 

[xUT]

Your first mistake was actually believing TPC is "non-partisan". They are funded by two left wing think tanks. How else do you think they would spin this?

Try some independent thought and not fall for every fake news story someone shares on your Facebook.

I agree, let's see what passes the house and the senate before we pass judgement.
What He wants to do may not be what he 'can' do.
And, really, we don't know what He wants.

 

[Bob Dylan Flyboy]

http://www.taxpolicycenter.org/about

Smart people are scary, must not be believed, and any research done by them, no matter the peer review, must be treated as fiction.

Jim, you will learn.

The Urban Institute and Brookings Institution are both well known left wing think tanks.

Try not to believe every little shiny object on the interwebs.

 

[jimntx]

The Urban Institute and Brookings Institution are both well known left wing think tanks.

Try not to believe every little shiny object on the interwebs.

Ah, another of the brotherhood of "if it doesn't say what I want it to say, it must be left-wing, fake, or outright communist." Your lack of discernment is disturbing. You really should try some critical thinking. I know it makes your head hurt at first, but after awhile you'll be surprised at how your intellectual processes expand.

Tell me, what grade are you in?

 

[Bob Dylan Flyboy]

Ah, another of the brotherhood of "if it doesn't say what I want it to say, it must be left-wing, fake, or outright communist." Your lack of discernment is disturbing. You really should try some critical thinking. I know it makes your head hurt at first, but after awhile you'll be surprised at how your intellectual processes expand.

Tell me, what grade are you in?

Your the one who fell for yet another dose of liberal fake news pal.

Try some independent thinking for once.

Btw, type in "tax policy center" in google and look what comes up first in results. "Tax policy center bias"

What does that tell you?