So he's a socialist........ and he's done.
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Trumps true colors come out
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Originally posted by J Sweet View Post
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Originally posted by nchunter View PostI'm no trump fan but he's not proposing higher tax rates on people who make high W-2 income like execs and doctors. He wants to close loopholes on guys like stephen swarzman who make 500 million on a deal and then pay almost nothing in taxes becauses of the way Hedgefunds and REITS are taxed. Plus they use tax shelters and entities to bamboozle the IRS.
As much as I dont like sleezy hedge fund managers this is still socialism right? He is going to reduce the tax rate on even the rich he says but get rid of all "loopholes" ie deductions so they will pay even more which is the only way others can pay less than they are now. He also wants to go after tax bas erosion practices of global corporations and tax those overseas earnings which will destroy jobs.
The sickest part is even more welfare for the poor. Zero taxes for married making under 50K, we might as well take all incentives for these people to bother to get a job (pretty sure this would be the last).
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He is proposing a zero income tax rate for households with incomes up to $50k for married couples and $25k for individuals. It sounds like a program aimed at middle/lower income folks but it isn't because of how tax brackets work. Under this plan if you make $100k you would pay zero tax on the first $50,000 in income, resulting in a tax savings for that person of maybe $6,000 a year. Trump's cuts would be tiny for lower income households because they are paying nothing or very little to start with. All the talk about changing tax rules on carried interest and the hedge fund guys will not come close to making up for the lost revenue. On a philosophical level, I don't think it is a good idea to take another 31 million households off the tax roles - just more people with no skin in the game who won't care about expanding government cause they ain't paying for it.
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Originally posted by J Sweet View Post
I'd rather die under a Socialism government than to suffer under a Communist dictator that is currently in office.
Our children are in serious trouble unless something changes for the better
The sad thing, Washington DC is a CLUSTER and those in office DGAF about the people
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