Trump's one-page tax plan - scribbled on a Mar-a-Lago napkin

[Bo-4]

Too funny - but predictable in the sense that Trump's plan would have reduced his 2005 tax liability from over 30m to FIVE million.


Donald Trump, who is very conscious that the 100th day of his presidency is approaching without his having signed any major legislation, promised last week that he was about to release a big-time tax reform plan. Treasury Secretary Steven Mnuchin and National Economic Council director Gary Cohn unveiled said plan today at the White House, and it turns out to consist of a bullet-pointed list of proposals that fit on one double-spaced page


http://www.slate.com/blogs/the_slate...o_details.html

Steve Munchkin - God what a creepster!

[Chris]

So...

• Reduction of the corporate tax rate from 35 percent to 15 percent, a cut which sounds like it will indeed apply to "pass-through" companies like the Trump Organization.
• Reduction of the top individual tax rate from 39.6 percent to 35 percent and reduction in the number of individual tax brackets from seven to three.
• Doubling the standard deduction.
• Repeal of the estate tax.
• Repeal of the Alternative Minimum Tax.
• Repeal of the "Net Investment Income" tax that helps pay for Obamacare.

WHat do you disapprove of, and why?

[Bo-4]

So...

• Reduction of the corporate tax rate from 35 percent to 15 percent, a cut which sounds like it will indeed apply to "pass-through" companies like the Trump Organization.
• Reduction of the top individual tax rate from 39.6 percent to 35 percent and reduction in the number of individual tax brackets from seven to three.
• Doubling the standard deduction.
• Repeal of the estate tax.
• Repeal of the Alternative Minimum Tax.
• Repeal of the "Net Investment Income" tax that helps pay for Obamacare.

WHat do you disapprove of, and why?

It's another tax cut for the rich - but we won't know that for sure until we see actual details.

Trump admin - ALWAYS short on actual policy

There is a reason tax reform is a once per 20-30 year event Chris .. it's complicated.

If Donald was a smart politician he would do it in small bites.

Pretty sure that he could get bipartisan agreement on reducing corporate taxes from 35 to 20% - with a rider providing (temporary) tax free repatriation of offshored funds.

[Tahuyaman]

I'd love to see our tax code reformed to the point that you can file your taxes on a post card.

[Bo-4]

Ok Ted ^

[Tahuyaman]

It's another tax cut for the rich - but we won't know that for sure until we see actual details.
.

With you, every tax reform proposal is a tax cut for the rich. You don't need to the details.

[Chris]

It's another tax cut for the rich - but we won't know that for sure until we see actual details.

Trump admin - ALWAYS short on actual policy

There is a reason tax reform is a once per 20-30 year event Chris .. it's complicated.

If Donald was a smart politician he would do it in small bites.

Pretty sure that he could get bipartisan agreement on reducing corporate taxes from 35 to 20% - with a rider providing (temporary) tax free repatriation of offshored funds.

It's not just a tax cut for the rich. Let's not just repeat stale sound bites.

The idea, I imagine, is reduce taxes to increase revenue to pay for more military, wall, etc. Laffer Curve logic.

[Chris]

Ok Ted ^

Ah, I see, you don't want discussion, you just want a partisan flame war. Boring.

[Bo-4]

It's not just a tax cut for the rich. Let's not just repeat stale sound bites.

The idea, I imagine, is reduce taxes to increase revenue to pay for more military, wall, etc. Laffer Curve logic.

Yeah, and economic growth is gonna pay for everything Trump wants to do ...

How many times have we heard that from Republicans as they exploded debt and deficits?

[Bo-4]

Ah, I see, you don't want discussion, you just want a partisan flame war. Boring.

The postcard thing was Ted's idea .. it's ridiculous and will never happen.

That said - SIMPLIFY the tax code?

Yes!