Trump's tax plan

[ati87]

President Trump has told the AP that he will be announcing his tax reform plan next week, my question is simple.

If you're a Trump supporter what do you expect his tax plan will be and who will benefit from his plan the most.

[Mormolyce]

who will benefit from his plan the most.

Gee I wonder.

[Sorshen]

His voters are getting fucked again, just wait and see.

[Ghostpanther]

His goal is that everyone will benefit from it. The rich, who generally are the ones who own companies and create jobs will benefit most from it. The poor who are not paying any taxes now and are on government assistance anyway, will not of course benefit more than they are now with the exception they may actually have better job opportunities.

[Sunseeker]

It will become the rich-industrialist-fat-cat jackoff plan. Corporate taxes will hit the floor, taxes on the wealthy will appear slightly lower but indirect taxes (estate and wealth transfer rules) will get a massive reduction, meanwhile the poor and middle class will see an effective tax increase.

[kail]

His goal is that everyone will benefit from it. The rich, who generally are the ones who own companies and create jobs will benefit most from it. The poor who are not paying any taxes now and are on government assistance anyway, will not of course benefit more than they are now with the exception they may actually have better job opportunities.

So trickle down?

[Sky High]

Not a Trump fan and I can tell you it's going to be a massive under the desk blowie to corporations. The poor and middle class will get the shaft and it will probably hasten us to the next finachial crisis.

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So trickle down?

Yes a golden shower will trickle down all over the peasantry's head.

[Ghostpanther]

So trickle down?

Yeah. If you accept that as a realistic effect. Which I do. Cutting the corporate business tax rate will without question for myself, increase the profits for a company, allowing them better success at expanding and thus hiring more people.

[Sunseeker]

So trickle down?

Give the rich more money and pray to the almighty (Job) Creator that we get more work!

[Superfly]

Yeah. If you accept that as a realistic effect. Which I do. Cutting the corporate business tax rate will without question for myself, increase the profits for a company, allowing them better success at expanding and thus hiring more people.

They can only expand and create more jobs, if the plebs can afford their products. So you can't put all your money on coorporations making a bigger profit, and think that'll save the economy.

[Kujako]

Can't pass the tax plan, till they "repeal" the health care plan. They are depending on the money saved by letting poor people die to pay for the tax cuts.

[Deleted]

I hope he fucks over his voters so hard they don't even know where north and south is anymore. They deserve it.

[ati87]

Yeah. If you accept that as a realistic effect. Which I do. Cutting the corporate business tax rate will without question for myself, increase the profits for a company, allowing them better success at expanding and thus hiring more people.

And you do know that hiring people or investing has nothing to do with any taxes right? Companies hire more if they need to, they fire people if they don't need people as simple as that.

Trickle down doesn't work because it ignores the basic economical principles of supply and demand. The US and European economy is based around consumption since money needs to go from hand to hand.

[NED funded]

Lowering corporate tax rates is a good idea.

[Ghostpanther]

They can only expand and create more jobs, if the plebs can afford their products. So you can't put all your money on coorporations making a bigger profit, and think that'll save the economy.

True. But it will also be a tax break for those who have jobs now. Thus giving them more money to buy stuff.

[Cthulhu 2020]

His goal is that everyone will benefit from it. The rich, who generally are the ones who own companies and create jobs will benefit most from it. The poor who are not paying any taxes now and are on government assistance anyway, will not of course benefit more than they are now with the exception they may actually have better job opportunities.

Ah it seems you missed the memo. Giving tax breaks to corporations and the wealthy doesn't actually do anything to create jobs.

Jobs are going to be made when a company sees an opportunity for making more money. When someone is needed and they analyze that hiring someone could make them $200,000 per year, they might hire someone and pay them $100,000, as an out of my ass example.

Now, see, companies have already done this, they know what's going to make them money, and have properly planned for it, and all the jobs are out there and available or filled.

A company isn't going to just make a job because they're getting tax breaks. Having more money = that money goes towards shareholders, not jobs. They're not going to hire someone if they don't think money can be made from it. If a job will make them more money than they have to pay out in wages, they will make that job. Jobs have very little to do with actual money on hand.

[Cthulhu 2020]

True. But it will also be a tax break for those who have jobs now. Thus giving them more money to buy stuff.

His tax breaks more than likely don't include any kind of cuts for anyone making under $250k a year. IF his tax breaks significantly reduce taxes for the lower and middle class, the people who do the vast majority of spending on non-luxury consumer goods (the type of spending that makes jobs) then yeah, it'll be good.

But let's not hold our breath that Trump is actually going to care about the little guys.

[Ghostpanther]

Ah it seems you missed the memo. Giving tax breaks to corporations and the wealthy doesn't actually do anything to create jobs.

Jobs are going to be made when a company sees an opportunity for making more money. When someone is needed and they analyze that hiring someone could make them $200,000 per year, they might hire someone and pay them $100,000, as an out of my ass example.

Now, see, companies have already done this, they know what's going to make them money, and have properly planned for it, and all the jobs are out there and available or filled.

A company isn't going to just make a job because they're getting tax breaks. Having more money = that money goes towards shareholders, not jobs. They're not going to hire someone if they don't think money can be made from it. If a job will make them more money than they have to pay out in wages, they will make that job. Jobs have very little to do with actual money on hand.

We shall see. I think it will work out for the best. But, time proves all things.

[Ghostpanther]

His tax breaks more than likely don't include any kind of cuts for anyone making under $250k a year. IF his tax breaks significantly reduce taxes for the lower and middle class, the people who do the vast majority of spending on non-luxury consumer goods (the type of spending that makes jobs) then yeah, it'll be good.

But let's not hold our breath that Trump is actually going to care about the little guys.

Read my reply to Nexx. It also applies to you.

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Not likely. The only people getting tax breaks are probably those making over 150k+ a year. They're probably not going to be spending anymore money than they currently are already, so it does nothing for the economy for them to have more go under their mattress.

So you are guessing and really do not know.

[Kujako]

The only people getting tax breaks are probably those making over 150k+ a year.

That's stupid.... it wont be anywhere near that low. I expect 250k as the baseline to really benefit.