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Expert
Posts: 1956
   
Location: Ky |
Well, at least the rich will get richer. Can't wait for it to "trickle down".  I'm still waiting on the Reaganomincs trickle down. I wonder if they will be added together?
http://finance.yahoo.com/news/middle-class-trump-plan-mean-tax-increase-153628510--finance.html
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  Fact Checker
Posts: 16572
Location: Displaced Iowegian | I just read that article....this could get "interesting" ..... |
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 Owner of a ratting catting machine
Posts: 2258
| I benefit from trickle down everyday.
Tax cuts allow for company expansion and profit, which allows them to retain me as a contractor. .
No profit, no worky. No worky, no money for groceries. Pretty simple illustration I think.
Right now, the bill that's kicking our ass in our household is healthcare. It's way over what a 2% increase in taxes would be. Change the healthcare and keep the 2%, I'm still keeping more money. Bring on the Trump!! I'm so ready. |
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 BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | It's interesting. Do we know what specific deductions he would eliminate? Has he outlined those details?
Here's another analysis:
http://taxfoundation.org/article/details-and-analysis-donald-trump-...
We will have to see, won't we. In the meantime, jd&ez and Norma, you will have to wait before you go further with your premature gloating. |
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| All the liberals are nit picking anything Trump has or hasn't said .... no solutions to help out just dissing and more dissing.
It is this simple on health insurance if Trump does 2 things ... cancel Obamacare and open up the insurance to being able to buy from companies nationwide ......
cut out the government controls ...
Your current Obamacare company will be paid directly and you won't miss a day without insurance ... then you can shop around at various nationwide companies and find what you need ....
For you under 50 crowd .... look at changing your banking to an open type credit union in your area or work .... they have better interest rates and a lot of the open CU's also have healthcare insurance their members can buy at very good rates as if they were a company insurance program ...
Look around ... none of these insurance companies are going to drop you off their lists ... too much money to be made with the government out of it ...
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Fact Checker
Posts: 16572
Location: Displaced Iowegian | Bear - 2016-11-25 4:31 PM It's interesting. Do we know what specific deductions he would eliminate? Has he outlined those details? Here's another analysis: http://taxfoundation.org/article/details-and-analysis-donald-trump-... We will have to see, won't we. In the meantime, jd&ez and Norma, you will have to wait before you go further with your premature gloating.
LOL....not gloating just stating a fact....it could get interesting....don't you agree ????  |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | I think we will just have to wait for the end result and big picture of Trump's agenda. It's foolhardy to look only at Trump's income tax plan alone when we are talking about a "bottom" line for working Americans. We'll have to take into account the changes that result from:
-Elimination of the ObamaCare nightmare
-Repeal of the Death Tax.
-Repatriation of over $2 Trillion in offshore corporate dollars.
-Slashing the corporate tax rate, while eliminating loopholes.
-Child care income tax credits.
-expansion of HSA's that are tax deductible.
-making health insurance and healthcare deductible.
-effects on manufacturing, trade, and the trade deficit.
Of course, this is assuming he gets these things enacted. He will be president, not dictator or King.
He has been President-Elect for 2 weeks, folks. He won't be sworn in for another 2 months. |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | Yes.....all of it could be very interesting. I'm very hopeful at this point, but, as is always the case when there's a changing of the guard, someone's Ox will get gored. It never fails to happen. |
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Expert
Posts: 1314
Location: North Central Iowa Land of white frozen grass | I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
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Extreme Veteran
Posts: 509
| I like his plan to put people to work building are roads,bridges etc back. If he doesn't repeal affordable care I hope he makes changes so that it will help all people. I didn't vote for him but I'm not going to be negative we should wait and see,we definitely haven't hade a president like him. |
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Location: Not Where I Want to Be | BS Hauler - 2016-11-25 6:15 PM I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
that is very possibly the dumbest thing I have ever read on the interweb.
And I look at Huffington pretty reg |
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BHW Resident Surgeon
Posts: 25351
Location: Bastrop, Texas | 1DSoon - 2016-11-25 5:19 PM
BS Hauler - 2016-11-25 6:15 PM I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
that is very possibly the dumbest thing I have ever read on the interweb.
And I look at Huffington pretty reg
That's what I thought as well. I had to read it twice. |
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Fact Checker
Posts: 16572
Location: Displaced Iowegian | BS Hauler - 2016-11-25 5:15 PM I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
I don't agree....you have plenty of people who p*ss away their inheritance and property sells...... |
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 Semper Fi
Location: North Texas | BS Hauler - 2016-11-25 5:15 PM
I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
Are absolutely certain you understand taxes and property ownership? |
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I just read the headlines
Posts: 4483
| I believe people are too greedy to not sell land they have no use for. Besides, my dad bought the family farm, but we ALL worked on it to improve it. We were just kids when we helped him put fence up- carrying water buckets because the ground was that hard, hammering the staples in the fence posts, tamping around the fence posts, etc. My kids have worked their butts off since they were little on this ranch. We shouldn't have to sell even a portion of it just because my dad died and someone else thinks it's their turn to own some land. |
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 Proud to be Deplorable
Posts: 1929
| I just reread Trump's tax plan and reread the article that jd&ez posted. And as usual the internet is full of BS. 1st in the article it states that the family making 75000 would only get a 15000 deduction NOT TRUE. Under Trumps plan they would get a 30000 deduction reducing their income to 45000. And with Trumps proposed four new lower brackets they would be at a lower net tax than under present law. However all this is just a proposal it still has to get thru congress.
Edited by jbhoot 2016-11-25 8:44 PM
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 My Heart Be Happy
Posts: 9159
Location: Arkansas | GLP - 2016-11-25 5:55 PM
I believe people are too greedy to not sell land they have no use for. Besides, my dad bought the family farm, but we ALL worked on it to improve it. We were just kids when we helped him put fence up- carrying water buckets because the ground was that hard, hammering the staples in the fence posts, tamping around the fence posts, etc. My kids have worked their butts off since they were little on this ranch. We shouldn't have to sell even a portion of it just because my dad died and someone else thinks it's their turn to own some land.
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Semper Fi
Location: North Texas | jbhoot - 2016-11-25 5:56 PM
I just reread Trump's tax plan and reread the article that jd&ez posted. And usual the internet is full of BS. 1st in the article it states that the family making 75000 would only get a 15000 deduction NOT TRUE. Under Trumps plan they would get a 30000 deduction reducing their income to 45000. And with Trumps proposed four new lower brackets they would be at a lower net tax than under present law. However all this is just a proposal it still has to get thru congress.
Fake news reports. In this case yahoo finance. Comparable to CNN. |
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 Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | 1DSoon - 2016-11-25 5:19 PM BS Hauler - 2016-11-25 6:15 PM I think that getting rid of the death tax will be a long term disaster for this country. In 20 or 30 years all property will be owned by a lot fewer people than it is now. People that don't own any property will never be able to compete with the owners and inheriter's of property for any piece of property that comes up for sale. The average person will be locked out of buying property. I own my own now and I can see the hand writing on the wall and this is not good for the country. There will be no reason for property to ever come up for sale if this gets passed.
that is very possibly the dumbest thing I have ever read on the interweb.
And I look at Huffington pretty reg
Hell has frozen over: that's twice in a month's time 1d soon and I have agreed. |
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| The more you give people the more they expect and the less they do to earn it ..
Burning the current million pages of tax laws would be the best thing that ever happened ...
No one is looking at bringing private industry jobs back and the increase in employment will bring in more taxes from the lower more simple rates ...
Government workers produce nothing other than more non sense tax creations for the ones working producing something ...
If some type of flat tax was created by calculating a few things such as number of kids for your tax rate ......... and you paid this amount .. there would be no need for tax refunds and 50,000 IRS people could be told to go find a job... which means the government has more money to spend on rebuilding our country and not eaten up by agencies getting larger and larger ...
We should be looking at no more than 2-3 sheets of paper for tax codes or a post card size ....
The only filing of income taxes ... would be if you needed to update the number of family members and could be done thru your job when they set the amount of income tax they will be taking out of your checks ... or you could do it on the internet as we do other things ........ and information is automatically placed in a data base etc etc ..
SOCIAL SECURITY .. clean it up for retired aged people only ... it has turned into a massive welfare agency instead of a retirement fund ..... AND PUT SS IN AN ACCOUNT BY ITSELF AND TAKEN AWAY FROM THE GENERAL FUND ..... LBJ IS THE ONE THAT STARTED STEALING YOUR SOCIAL SECURITY MONIES AND LAST COUNT THE USA GOVERNMENT OWES SS 2.4 TRILLION FROM "LOANS" IT HAS MADE ... ASK FOR THIS MONEY TO BE PAID BACK RIGHT NOW ...
COUNTY AND STATE HEALTH DEPARTMENTS ...... instead of being paper pushers ... have them visit your schools and have a clinic for all of your kids shots etc etc .... I rode the schoolbus with my older brothers to school to get free shots by the county nurse when she came to their schools. No big doctor bills to be charged to your insurance etc etc ... expect your local health depts. to do something other than paperwork and false pandemics ... grrrrrr
The last thing we need is another WPA or GPA work force which is done by government borrowing more money and being ripped off by politicians kick backs and construction companies......
By reducing the size of government .... which means reduction in the 22 million employed by local, state and federal governments.... taxes from more jobs and as Trump sez ..... make sure the quality of work and materials are what you paid for or penalize the ones that failed to do a good job or finish a job .... stop the constant overbilling and cost over runs we see on government jobs .... look at your local county commissioners ... low paying job they spend $10k++ to get elected to .... don't you think the hidden kickbacks gives him that new home and Cadillac pickup he all of sudden starts driving once elected ...... lol ..
Local politicians here are bragging on getting a 130 million road grant to do 4 miles with two small over passes ...... all they need to do is build one mile of service roads to a new loop overpass they just built a half mile away and eliminate the 4 red lights on the very busy hiway ... these politicians and companies are stealing our tax money ...
One other major item .... have your income tax sent to your state which already has tax collectors on board .... (state income tax, gasoline taxes and state tax on items) ....
Have the state keep the money for schools, hiways etc etc the feds are always returning with conditions and only send the feds share to them ... i. e. .... if income federal tax average for the state was 5 billion dollars ... state would keep 1-2 billion of that here at home and it would never go to the feds ......... more federal government workers looking for jobs and less government control over our daily and states needs ....
AND DON'T FORGET .... REPEAL THE 17TH AMENDMENT THAT WAS CHANGED IN 1913 TO PUT SENATORS BACK UNDER THE CONTROL OF YOUR STATE GOVERNMENT ....... WITH TODAY'S COMMUNICATION SYSTEMS THERE IS NO NEED FOR THEM TO EVER LIVE IN WASHINGTON DC AND THEY WOULD BE ACCOUNTABLE AND COULD BE FIRED IF THEY DID NOT REPRESENT THE STATE AS THEY WERE TOLD TO DO ... AND WOULD GIVE MORE MEANING TO ELECTED YOUR STATE GOVERNOR AND LEGISLATURE .... KEEP IN MIND THESE GUYS ONLY HAVE TO BE PRESENT 3 DAYS PER WEEK AND MANY VACATIONS WHICH LEAVES ONLY 130 DAYS THEY ARE WORKING OR WHATEVER IT IS THEY DO ... LOL
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Folks on-line