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Trumps tax plan to benefit the wealthy


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Author Topic: Trumps tax plan to benefit the wealthy  (Read 26 times)
Steve Hydonus
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« on: Oct 01, 2017 10:25 am »

Ryan tries to sell trumps tax plan to benefit the rich.

Several analyses seem to think the Trump plan won’t work in that it won’t lead to increased economic growth. There are complicated reasons for this, but suffice it to say many think those who get the biggest tax breaks — wealthier individuals and corporations, typically — will stash the money and sit on it rather than invest or spend it. And a Tax Policy Center analysis says 20% of taxpayers will end up being worse off under the new plan than before. But for corporations and high earners? It should amount to a sweet deal.

Ryan claims the employees will receive higher pay thanks to employer tax cuts. The tax reform plan would lead to an average tax cut of $175,000 for members of the 1% richest class of the U.S.

In order to get people on board, Ryan needs to take a page from the MAGA playbook. Specifically, go back to rhetoric about the “rigged” economy and how it’s screwing everyday, hardworking people. For the middle class, who might not find tax cuts for millionaires and billionaires a very sexy idea, Republicans like Ryan have to appeal to their desires — namely, better jobs and higher pay.

That, Ryan will say, will be realized only after employers have more money — money they will keep as a result of tax breaks. The hard part is squaring the fact that there isn’t much evidence to back up what the Republicans are selling.

https://www.cheatsheet.com/money-career/photo-paul-ryan-reveals-why-trump-tax-plan-doomed.html/4/


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« Reply #1 on: Oct 02, 2017 12:52 am »

Senate Minority Leader Chuck Schumer, D-N.Y., told House Speaker Paul Ryan, R-Wis., to "get real" when it came to changes Republicans have proposed for the nation's tax system.

"GOP #TaxReform plan & what @SpeakerRyan says about it are 2 diff things. Says plan is for middle class but 80% is for wealthy-Get real Paul," Schumer tweeted Sunday.
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« Reply #2 on: Nov 02, 2017 06:27 pm »

Trump and Republican sweeping tax cut plan unveiled Thursday that would add $1.5 trillion to the nation's debt.
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« Reply #3 on: Nov 11, 2017 02:10 pm »

Open subject.
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« Reply #4 on: Nov 12, 2017 09:47 pm »

Trump and Republican sweeping tax cut plan unveiled Thursday that would add $1.5 trillion to the nation's debt.

but who actually knows?
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« Reply #5 on: Nov 12, 2017 09:50 pm »

Open subject.

Doesn't matter. He will do what he wants and you cannot change it, just like I can't change your mind about posting trump articles endlessly.
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« Reply #6 on: Nov 14, 2017 11:48 pm »

Wealth creation is on the rise around the world, but not everyone is sharing equally in the ... according to a new report from investment bank Credit Suisse. The result? The top 1 percent of global citizens own 50.1 percent of all household wealth, up ...

What we can do is not elect people who perpetuate and increase this disparity.
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« Reply #7 on: Nov 15, 2017 04:34 am »

Earlier in the Senate panel's work on the bill, the Democrats complained that the bill would enable U.S. corporations with foreign operations and wealthy individuals and families to exploit loopholes to skirt millions in taxes.

On Monday, a nonpartisan analysis of the Senate bill showed it would increase taxes for some 13.8 million moderate-income American households.
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« Reply #8 on: Nov 15, 2017 07:13 am »

Wealth creation is on the rise around the world, but not everyone is sharing equally in the ... according to a new report from investment bank Credit Suisse. The result? The top 1 percent of global citizens own 50.1 percent of all household wealth, up ...

What we can do is not elect people who perpetuate and increase this disparity.

And the majority will vote them in anyhow. No way to fix it anyway unless you do away with money altogether.
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« Reply #9 on: Nov 15, 2017 07:15 am »

Earlier in the Senate panel's work on the bill, the Democrats complained that the bill would enable U.S. corporations with foreign operations and wealthy individuals and families to exploit loopholes to skirt millions in taxes.

On Monday, a nonpartisan analysis of the Senate bill showed it would increase taxes for some 13.8 million moderate-income American households.

Sounds like a case of he said/she said, all I know is I pay *lots* of tax, always have, always will. Deal with it. Every time there's some kind of tax break, it amounts to a hill of beans.
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