President Trump's New Tax Plan

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peacenik

peacenik

Senior Member
#21
May 11, 2016
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#21
Originally Posted by Depleted

When you cut back on business taxes, something weird happens -- business grows.
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seed_time_harvest

:)So you think 45 Is trying to use trickle down voodoo economics like Reagan?If It works then that would be a good thing.:)
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It did not work under Bush: ''CBO estimated in June 2012 that the Bush tax cuts (EGTRRA and JGTRRA) added about $1.6 trillion to the debt between 2001 and 2011, excluding interest.[SUP][30][/SUP]A 2006 Treasury Department study estimated that the Bush tax cuts reduced revenue by approximately 1.5% GDP on average for each of the first four years of their implementation, an approximately 6% annual reduction in revenue relative to a baseline without those tax cuts.'' https://en.wikipedia.org/wiki/Bush_tax_cuts


Instead, we got the Great Recession.

The biggest difference between this past failed reform and that initially proposed by Trump is that he promised to bring back trillions of American capital in foreign tax shelters. Such a change would definitely end the national debt, significantly reduce inflation, strengthen the dollar, and give the economy an unparalleled boost. Let us hope that he keeps his word.
 
shrimp

shrimp

Senior Member
#22
Aug 28, 2011
1,188
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#22
Shrimp's dream tax plan: everybody pays 15% of income, no returns, no brackets, no child tax credit, no argument that the poor are paying more than the rich. just a straight forward flat tax.

as to this new plan, there is a lot still to be known. it has to go through committees and be gargled and swished before the final product is spit out. we all probably won't like it, though.
 
Dan_473

Dan_473

Senior Member
#23
Mar 11, 2014
9,054
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#23
Billyd said:
Term limits.
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not sure if we're talking about the same thing.

I'll rephrase

In a republic where the representatives are elected by the general public, how do you keep the electorate from voting itself more money?

related: how to keep poor people from using the power of their vote to take money away from rich people and give it to themselves?
 
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