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Amazing reaction to tax announcement
Mr. Luddite wrote:
On 4/26/2017 4:39 PM, Keyser Soze wrote: On 4/26/17 4:23 PM, Mr. Luddite wrote: On 4/26/2017 4:15 PM, Keyser Soze wrote: On 4/26/17 4:12 PM, Mr. Luddite wrote: On 4/26/2017 4:04 PM, Keyser Soze wrote: On 4/26/17 4:01 PM, Mr. Luddite wrote: On 4/26/2017 3:07 PM, Keyser Soze wrote: On 4/26/17 2:35 PM, Mr. Luddite wrote: As is my hobby, I channel surf after a major political announcement or news, just to get a feel on how the cable networks react. So, after today's announcement of the proposed new tax rates, the panel on FoxNews were kicking around how it will help individuals, small businesses and large businesses. The focus of their discussion was how and why the new tax rate plan would benefit the economy overall and create more jobs. Switch to MSNBC: Here the larger panel of pundits were focusing (and speculating) on how the new tax rates will benefit Donald Trump. Period. That's all they were talking about. Like you, Fox has bought into the Trump bull****. MSNBC wants to know how many millions the Trumpsters will make off of this, what it will do to the deficits, and how it will devastate what little remains of the social safety net, science, enforcement of anti-pollution and other citizen safety laws. BTW, this wasn't his budget request. It was his proposal for lowering taxes. The rich still pay the highest percentage by far. It really applies to middle class individuals, Sub-S sorporations and large corporations as an incentive to base operations in the USA, expand and hire more Americans. A one time tax will apply for those corporations with their holdings overseas and then a 15 percent (as proposed) tax thereafter. This is very good for the economy of the USA. Really? What about the deficit? His Treasury guy (forget his name) claims the new tax rates will produce something like 5 Trillion in revenues over 5 years. It's a start. That's hilarious. Why's that? I can understand why it could. A robust, growing economy is the largest revenue generating source. Taxes aren't even close. Trump's tax cuts will simply put more money in the hands of the rich, weaken the country and further devastate the lower and middle income families. All that will trickle down is ****. Maybe you could explain exactly how that is going to happen. This isn't "trickle down". It's targeted towards low and middle class incomes, small business (sub-s) and large businesses that have offshored their manufacturing. Those with high incomes (I don't know the number but it was rumored to be about $450k and up) pay the highest tax bracket. Forget the exact number but it was in the 30 something percent range. Plus, he is proposing a doubling of the tax credit for middle class incomes. First $24K is exempt, up from $12.5K. Don't see how you think this will "devastate the lower and middle income families". It's targeted right for them ... and businesses. Maybe Harry has tax problems as he does not understand taxes. |
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