0eda15e8a4a685a0722949782c90e863

If they can't get tax reform done right, stick a fork in them!

AMi @ 3 months ago

Comments (52)

26e82c69bac3abe48cfce8aae262fda8

It's the Democrats' fault ;)

The Drew @ 3 months ago

Midtown, New York, NY

0eda15e8a4a685a0722949782c90e863

Tough to be their fault when they only have power left in a couple regions

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

Lol

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

I doubt seriously that they are gonna get it right.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Depends on your definition of "right"

AMi @ 3 months ago

Villa Park, IL, USA

98d7101629a5e7bcbaca8c6c5bd9decc

or "is"

UndrWater @ 3 months ago

Southwood Riviera, Torrance, CA 90505

98d7101629a5e7bcbaca8c6c5bd9decc

certainly no one will allow a simple tax plan.

UndrWater @ 3 months ago

Southwood Riviera, Torrance, CA 90505

0eda15e8a4a685a0722949782c90e863

God forbid

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

U water, what would your tax plan look like?

AMi @ 3 months ago

Villa Park, IL, USA

7feb020fb3d3aa6cf2752031cf61da89

$100 - $25k ... 2.5% $25001 - $50k ... 5% $50001 - $100k ... 7.5% $100001- $200k ... 10% $200001 - $500k ... 15% $500001 - $1M .... 17.5% $1000001 - $10M ... 20% > $10M ... 25% individual rates absolutely no deductions .

H2O @ 3 months ago

Spotsylvania, VA 22553, USA

5f13389fd6ea4b6de49bacec84ed7d8f

H2O,,, I think you'd fall short of what was needed to run the govt. I'm basing that on the average effective rate today.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

5f13389fd6ea4b6de49bacec84ed7d8f

And What are you going to propose as the capital gain rate? That's a big part of any revamp of the taxes.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Why don't they tax speculation at a higher rate?

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

Jc, of course you're assuming that government size is a variable that can only increase?

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

I suppose it CAN decrease. I wouldn't stay up nights waiting for that to happen.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Obviously history is on your side in that regard. But like you said, it could. I would add that it should.

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

I'm a little confused by H2O's individual rate. Does that mean a couple making 75k and 25k respectively would pay 5625 and 625 or a combined 6255? effective 6.3%

jc @ 3 months ago

Yellow Springs, OH 45387, USA

5f13389fd6ea4b6de49bacec84ed7d8f

And a couple with one wage earner making 100k would pay 7.5%

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

I feel for the poor chap that pays $2.50 in federal tax

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

What was your plan for individual earners again jc?

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Or would it be structured like todays schedules where the 100k guy would pay 0-25. 625 25-50. 1250 50-100 3750 tot 5625 effective 56%

jc @ 3 months ago

Yellow Springs, OH 45387, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Effective 5.6%

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

I think that's what he was intending

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

That might finance the military.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

5f13389fd6ea4b6de49bacec84ed7d8f

I personally feel that the current tax rate is pretty close to right. Increasing or decreasing the rate a percent or two wouldn't make or break anyone. I'd like to see a higher capital gain rate. And I'd be in favor of a .25% sales tax on stock trade

jc @ 3 months ago

Yellow Springs, OH 45387, USA

98d7101629a5e7bcbaca8c6c5bd9decc

AMi, I have a CFO to figure out that stuff. my eyes glaze over. besides, as an anarchist, I'd be happy with 0.

UndrWater @ 3 months ago

Cerritos, CA, USA

0eda15e8a4a685a0722949782c90e863

Never took you for an anarchist... More progressive... But this thing can be deceptive

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

Jc, my concern is that in the past 6 years we've added 6 trillion in debt, but only 2 trillion in value to the economy That math simply does not work out for us

AMi @ 3 months ago

Villa Park, IL, USA

7feb020fb3d3aa6cf2752031cf61da89

the difference between my suggested rates and current... absolutely "every" earner pays a tax (includes the current 40% non payers) absolutely "no" deductions, what you earn gets taxed yes it's a cumulative progressive

H2O @ 3 months ago

Spotsylvania, VA 22553, USA

5f13389fd6ea4b6de49bacec84ed7d8f

AMi,,, We agree on the debt. The state of the economy is up for debate. One faction believes we are on the cusp of a vigorous expansion. The other sees a recession just around the corner. I'm in no position to call it either way.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Well you should agree on the added value as well because it's correct

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

I do wonder who is going to staff any great expansion. We are at theoretical employment. Even now employers are complaining about the difficulty in finding qualified new hires.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

That's is an easy wall to break with a more pragmatic education system. Not a system that sells this dream that we need more humanities majors

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

If you ascribe the employment numbers to the "ghost" workers on the sideline, I have a question for you. How many Phd, master, or even bachelor degrees are among that crowd? The same holds true for tradesmen. If there are great hoardes of workers

jc @ 3 months ago

Yellow Springs, OH 45387, USA

26e82c69bac3abe48cfce8aae262fda8

The great hordes are underground but they can't come up during daylight.

The Drew @ 3 months ago

Midtown, New York, NY

5f13389fd6ea4b6de49bacec84ed7d8f

holding out for that perfect job, they probably aren't capable of filling out the application.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

26e82c69bac3abe48cfce8aae262fda8

Here they are. https://youtu.be/5_S4eGrczdQ

The Drew @ 3 months ago

Midtown, New York, NY

0eda15e8a4a685a0722949782c90e863

We need affirmative action for Morlocks dammit!

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

Jc, it's possible, trust me

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Full disclosure: I've always been impressed by Sommers. https://www.google.com/amp/s/www.washingtonpost.com/amphtml/news/wonk/wp/2017/04/27/larry-summers-trump-is-undermining-his-own-treasury-secretary/

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Things I don't like about the new tax plan : 1. It doesn't go nearly far enough to help families earning less than $300k combined. 2. The corporate tax rate is too low, should be a flat 25%, no deductions

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

3. More should be done to help small businesses keep their revenue for growth

AMi @ 3 months ago

Villa Park, IL, USA

0eda15e8a4a685a0722949782c90e863

Things I agree with: 1. Get rid of the estate tax. It's a political tax, not a beneficial one. 2. Increase the standard deduction for married couples.

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

It's possible to initiate a progressive corporate tax. That might give the little guy a leg up.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

I agree

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Too bad the little guys don't band together to buy nice things for their friends in Washington.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Or withhold their taxes in unison

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Why do you think the estate tax is a political tax? I've always considered it an idiot tax.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

Because it serves no purpose but as a political talking point.

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

This tax proposal is just another 100 pages tacked onto an already cumbersome tax code. If they aren't going to do tax reform, just leave it alone.

jc @ 3 months ago

Yellow Springs, OH 45387, USA

0eda15e8a4a685a0722949782c90e863

I'd rather see them repeal and replace the tax code

AMi @ 3 months ago

Villa Park, IL, USA

5f13389fd6ea4b6de49bacec84ed7d8f

Wasn't this part of the swamp drainy thing? "The system is rigged! Nobody knows the system like I do! Only I can fix it!"

jc @ 3 months ago

Yellow Springs, OH 45387, USA

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