Trump to propose 15 percent corporate tax rate

[Shadowferal]

Flat Tax is like everything else; it looks great on paper.
But until you get rid of the money affecting the political process, the whole "no tax breaks or exemptions" will always make it into a myth.

[Thepersona]

Most flat tax rate proposals avoid the problem of the poor by applying the tax only over a certain earnings. For example, people making less than 30k won't be taxed (or something similar).

I don't see how you can argue that it is unfair that if I make 100k I pay 7,000 taxes (7%) and someone who makes 1 million pays 70,000 (7%). Seems perfectly fair (as long as their are no breaks or exemptions).

You realize that since 2010 (and maybe even before) companies like google, facebook and amazon that make billions have been a "real" rate of about .7% on their profits?

Just look at the difference on 1 billion (1,000,000,000)

Current tax paid by google: 7,000,000
What would they pay with a 7% flat rate: 70,000,000

So, just to be clear, had does google paying 63,000,000 million dollars more taxes (a year) on a billion help the rich and hurt the poor? Your numbers are not addind up.

Ben Carson put out a complete flat tax plan.

Did you even parse the numbers or are you just throwing out rhetoric without any real calculations/ math behind it?

The tax code is mathematics, it can all be calculated and proven. You don't have to rely on rhetoric- you can actually make the calculations.

i mean, a flat tax without excemptions is better than your current one, but is not the best. Your proposal affects more the middle class/upper middle class (those who earn at most 200k a year) and it helps the rich.

[Shadowferal]

Your taxes are not difficult, it's a scam to sell you shit.

Well, I do like nicely paved roads when I drive, and all that enforcement for clean air and water, and that military does have to get paid for...

[zenkai]

You only addressed one side of my post. Trump is advocating for increased spending AND reduced income.

Let's say there's a total of 5% increased spending and 5% reduced income (which are significant assumptions given the lack of clarity on both of these issues) that's over $300 billion added to the deficit each year. That's almost doubling the projected deficit for 2018 btw.

Are you saying they don't decrease spending anywhere? Big difference if I spent 5% more of my income on stuff vs I stopped spending money on other things to spend it on something else. You're oversimplifying the budget. Disagree with how he spending money or taxing corporations less but don't act like it's going to have some major impact

[Orlong]

How much was in your 401k mid 2009?

I lost about half but it climbed back up as the markets recovered. There will always be dips, and it will always come back.

Remember after 9/11 and airline stocks plummeted to pennies per share? Yeah I was the one saying people should buy all they could afford because they WILL bounce back. People HAVE to fly and they have gained it all back and more.

[Thepersona]

Well, I do like nicely paved roads when I drive, and all that enforcement for clean air and water, and that military does have to get paid for...

and public illumination, and public services, and state-schools, and (in my country) public health and universities

[Ghostpanther]

Most flat tax rate proposals avoid the problem of the poor by applying the tax only over a certain earnings. For example, people making less than 30k won't be taxed (or something similar).

I don't see how you can argue that it is unfair that if I make 100k I pay 7,000 taxes (7%) and someone who makes 1 million pays 70,000 (7%). Seems perfectly fair (as long as their are no breaks or exemptions).

You realize that since 2010 (and maybe even before) companies like google, facebook and amazon that make billions have been a "real" rate of about .7% on their profits?

Just look at the difference on 1 billion (1,000,000,000)

Current tax paid by google: 7,000,000
What would they pay with a 7% flat rate: 70,000,000

So, just to be clear, had does google paying 63,000,000 million dollars more taxes (a year) on a billion help the rich and hurt the poor? Your numbers are not addind up.

Ben Carson put out a complete flat tax plan.

Did you even parse the numbers or are you just throwing out rhetoric without any real calculations/ math behind it?

The tax code is mathematics, it can all be calculated and proven. You don't have to rely on rhetoric- you can actually make the calculations.

The one making 1 million has 930,000 left over. The one making 100,000 has 93,000 left over. Which is going to still be in a much better position to afford goods? A 10% flat tax rate is like the 10% tithe in churches. Carson is a 7th day Adventist I think, which believe in tithing, one reason he likes it. The problem with tithing is, the more one makes , the less of a sacrifice it is to give 10%.

Personally I am for doing away with all income tax for individuals and going to a national sales tax,which is divided into brackets. The higher the price of a item, the higher the sales tax would be. No income forms to fill out and no loop holes. Right now there is billions of income money which is hidden and the tax is never collected on any of it ( at least it is not shared with the present owner who has got it under the table ) until someone uses it to buy something. Then it is the State or Government which benefits from it with ether a sales tax or a excise tax.

[Thepersona]

Are you saying they don't decrease spending anywhere? Big difference if I spent 5% more of my income on stuff vs I stopped spending money on other things to spend it on something else. You're oversimplifying the budget. Disagree with how he spending money or taxing corporations less but don't act like it's going to have some major impact

whre you can cut?
the problem is that there're only big 4 parts (Medicare, Medicaid, Military, and SS) of government spending, and no one wants to slash them

[Noomz]

http://www.politico.com/story/2017/0...x-rates-237556

so.. thoughts?
personally, this reeks of trickle down... and that type of policy is proven not to work, so say welcome to a giant fiscal deficit fellas

So if people want ot keep lowering taxes, where do they expect money for things like a gigantic wall will come from?

[Orlong]

I'm really interested for you to explain to the class how Social Security has robbed you of $300,000 on your $50k a year salary, especially when you've only scrapped together $200,000 with your superior savings methods.

Because Ive been working almost 30 years but I didnt start my 401k until 10 years ago. Had I been able to invest all of the money I paid to Social Security in a 401k or mutual funds it would grow a lot more

[weedburst]

So adorable that he thinks we're still in 1960 where the father leaves the home to his job while the wife stays home with their 2.5 kids... robots can do most jobs humans are doing, as soon as we let them and start using basic income the quicker we can have a happier country that isn't filled with criminals trying to steal to feed their family.

this is basic shit that most economists agree on, the old fucks in this country are holding onto their old ideals though, since they are still making millions and don't want that to change ever.

[VooDsXo]

http://www.politico.com/story/2017/0...x-rates-237556

so.. thoughts?
personally, this reeks of trickle down... and that type of policy is proven not to work, so say welcome to a giant fiscal deficit fellas

My thoughts are this is what he directly said he wouldn't do, he said he wouldn't allow businesses to get away with murder.
The ignorant masses voted for the guy from TV they remembered, instead of someone being investigated for literally using her own shit to her convenience...oh damn oh well.

[Zantos]

I really don't get why they bother. Most companies wont pay that. They know how to work the system to pay way below that. Most of them probably don't pay anywhere near that much now, with a higher tax rate. Now, even if we pretend that they actually paid all of their taxes, which they don't, this wont help anyone except the corporations make more money. They aren't going to take that extra money to hire more employees. If a store is fully staffed, what would be the use for hiring 1-2 more people? That is just wasting money and hurting everyone because they would cut the hours of employees to make sure they didn't have to pay over time.

Point is, this is useless. But, what can we expect? The guy filed for 6 bankruptcy on six of his businesses. Of course he is clueless as to what he is doing in the economy.

[Kujako]

So does this mean that the corporations that pay zero or less, will pay more or less than they do now?

[alexw]

So if people want ot keep lowering taxes, where do they expect money for things like a gigantic wall will come from?

Mexico of course. Mexico will pay for it. Mexico will pay for everything.

[Kujako]

Mexico of course. Mexico will pay for it. Mexico will pay for everything.

Mexico WILL pay for everything. Once the US collapses to third world status and they expand their border North to Canada.

[Sorshen]

Even less hassle (read as: brainstorming to avoid paying) for companies.
Average Joe will pay for the wall... somehow!

[antelope591]

Wrong. My argument is dont spend money that you dont NEED to, and save some for your golden years. (Im 44 and already have a 401K with $200K in it, and if I wasnt forced to contribute to the black hole known as Social Security, !d probably have closer to $500,000 in my retirement account). I also do not buy $6 coffees every morning, nor do I go to McDonalds every day for lunch because Im not too lazy to pack a sandwich and some chips.

I also do not waste thousands of dollars on silly modifications to my car like a LOT of Millennials (stupid can of bees mufflers, asinine body trims, superfluous lighting, loud sound systems, etc...), nor do I need to have every new video game/system that comes out, see every new movie (except they usually steal them online), and party every weekend.

BTW I also only make $50k a year

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Nope, but I did say lowering corporate taxes will free up more money to hire additional workers

Makes 50k a year....constantly parrots republican policies and talking points that only favor the 1%. This is my surprised face :>

[Kujako]

Makes 50k a year....constantly parrots republican policies and talking points that only favor the 1%. This is my surprised face :>

Sure, he might be poor NOW. But someday, he'll be rich (insert Loto win or unknown dead rich uncle) and then people like him (now) better not leech off his newfound wealth!

[Zantos]

Mexico of course. Mexico will pay for it. Mexico will pay for everything.

Doesn't trump think that putting a higher tax on goods imported from Mexico would Force them to pay for it rather then Mexico just turning around and making Us pay the difference?