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Liberals Love Trump's Tax Plan... When Told It's Bernie Sanders' Plan (video)
- Thread starter Calminian
- Start date
The problem with this is the same problem I have with Trump's plan. No real details were given, just a few ideas. The only point that these people should have immediately argued against was to do away with the inheritance tax. But many people in the country don't know this only pertains to estates over $5.4 M and doing away with it makes wealth inequality much worse. Increasing Child tax credits is a good idea by itself. Reducing small business taxes sounds good by itself but not when put in the context of the wealthy misusing it to reduce their personal tax rate.
The thing I love about Trump's plan is making the corporate tax competitive with the rest of the world. Not only will this bring jobs home, but bring consumer prices down. Taxes have to be worked into the cost of doing business, and affect retail prices.
The dirty little secret about corporate tax is that corporations don't actually pay it. Consumers do! It's really a tax on the poor. Dems know this but don't like to talk about it.
The dirty little secret about corporate tax is that corporations don't actually pay it. Consumers do! It's really a tax on the poor. Dems know this but don't like to talk about it.
Just a little bit of investigation shows that corporations in America actually pay an average o0f about 27%, which is competitive with other developed countries. The Republicans never mention this fact. In addition many corporations set up a complex corporate structure which allows them to credit earning overseas and pay no U.S. taxes on them. I'd like to remove that loophole and require them to bring back those earnings to America and pay the taxes. Trump wants them to bring back the earnings but pay little or no taxes.
Lets look at ALL the taxes paid by corporations - Federal, State, gas tax, real property tax, corp share of Social Security, Workers comp, gas tax for company vehicles ect. Now all those taxes paid - are tax deductible for Federal income tax purposes. - but the bottom line is that the corps do pay a lot of tax.
Here is a list of 97 different taxes, and I'm sure the list missed a few
Here is a list of 97 different taxes, and I'm sure the list missed a few
And since we're off topic anyway,
GREAT AGAIN: GDP 3.0%...
Economy shrugs off hurricanes...
Trump getting it done, even without any help from Congress.
GREAT AGAIN: GDP 3.0%...
Economy shrugs off hurricanes...
Trump getting it done, even without any help from Congress.
.
Sent from my Motorola Droid Turbo.
An Obama defender til the end
. You spin for him like no one else. Here is GDP growth throughout Obama's reign. I don't see anything above 3%. And I do remember democrat economists telling us we'd never see 3% growth again.
Finding America’s Lost 3% Growth
If the country can’t grow like it once did, then the American Dream really is irretrievably lost.
2008 -0.3%
2009 -2.8%
2010 2.5%
2011 1.6%
2012 2.2%
2013 1.7%
2014 2.6%
2015 2.9%
2016 1.5%
Not an Obama defender. I couldn't stand him as President. But the fact is that Obama had several quarters where growth was above 3%. He never had a full year above 3%, which I've pointed out repeatedly on BB, and so far neither has Trump.An Obama defender til the end
Here is GDP growth throughout Obama's reign. I don't see anything above 3%. And I do remember democrat economists telling us we'd never see 3% growth again.
Finding America’s Lost 3% Growth
If the country can’t grow like it once did, then the American Dream really is irretrievably lost.
2008 -0.3%
2009 -2.8%
2010 2.5%
2011 1.6%
2012 2.2%
2013 1.7%
2014 2.6%
2015 2.9%
2016 1.5%
This is not hard to see via the graph I posted. Trump must have GDP of 3% or greater for the next two quarters in order to get a 12 month period of 3% GDP.
If we use your criteria of a US fiscal year with 3% GDP growth, we have to wait a full year to see if Trump pulls it off since fiscal year 2018 just started on October 1st.
And while you're at it compare jobs created in the first 9 months of 2016 under Obama vs. jobs created in Trump's first 9 months of 2017. You won't like it.
Sent from my Motorola Droid Turbo.
Fake News purveyor can't read simple bar graph. I see two times since 2013 that GDP was 3% or greater for two quarters in a row.
Sent from my Motorola Droid Turbo.
More Fake News.
"Very Little Reporting" = front page above the fold headline in business section of liberal newspaper.
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Sent from my Motorola Droid Turbo.
"Very Little Reporting" = front page above the fold headline in business section of liberal newspaper.
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Sent from my Motorola Droid Turbo.
https://www.cbpp.org/research/feder...x-rates-are-in-line-with-comparable-countries
The average corporate tax rate on profits from new investments made in the U.S. is 24 percent; the average corporate rate on profits from new investments made by companies in other “Group of Seven” (G-7) industrialized, democratic countries, weighted by the size of their economies, is 21 percent.