Trump Tax Plan Bulletpointed - Topic

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Oct 5 2017 12:05am

Quote (Pollster @ Oct 5 2017 12:48am)

It's just another deficit-exploding tax cut the country can't afford. Because this is just a "unified framework" and not legislative text I'll suspend disbelief even though I shouldn't. This could generously be described as a farce: they punted on all the components that must be resolved in order to pay for this (and they did that by design, because Republicans never pay for anything they do).

One key problem: they've already taken off the table eliminating every major deduction (mortgage, charity, state/local taxes, 401k, EITC, edu) -- we call this the "Mitt Romney deception." Those combined with employer-sponsored healthcare and capital gains (2 things the GOP will never cut) make up over 80% of all tax rebates. So their bright idea to offset $2 trillion in tax cuts for millionaires is to focus on all the infinitesimal deductions that virtually no one uses? This "plan" is just a microcosm of the way they treat the overall federal budget -- it isn't serious budgeting.

I find this funny. If the USA were in the European Union, they'd be under huge pressure from the whole continent to get their shit together and plan their budgets in a less explosive way. But since the USA are the king of the world, and kings don't govern themselves, they just do as they please and leave the problems for a next generation to solve.

cambovenzi

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#112

Oct 5 2017 06:52am

Quote (Plaguefear @ Oct 2 2017 07:18pm)

I will put it this way, trumps tax plan right there on the first page is begging people to bring their money back to america, you think they paid the full tax rate on that money?

A repatriation tax reduction has nothing to do with effective corporate tax rates. That is money earned in other countries, which they pay taxes on.
A repatriation tax holiday is a great idea, but thats not the issue here.

This post was edited by cambovenzi on Oct 5 2017 06:57am

Pollster

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#113

Oct 5 2017 01:30pm

Quote (Leevee @ Oct 4 2017 11:05pm)

That's true. We still face some external pressures, but just like the internal pressures to start making smarter budgeting choices they're way too weak.

Our one big problem that shows up everywhere is that we're a two-party political system by habit, yet one of our major parties is no longer bound by convention or past precedent. The GOP has been trained by their long-term voters to understand that there are no consequences for poor performance, from ineffective to outright counter-productive/hostile governance. The quirks of our electoral system only exacerbate our dysfunction.

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