If you are single and earn less than $25,000, or married and jointly earn less than $50,000, you
>will not owe any income tax.
>That removes nearly 75 million households –
>over 50% – from the income tax rolls.
>They get a new one page form to send the IRS saying, “I win,”
those who would otherwise owe income taxes will save an average of nearly $1,000 each.
All other Americans will get a simpler tax code with four brackets –
>0%, 10%, 20% and 25% – i
>nstead of the current seven.
This new tax code eliminates the marriage penalty and
>the Alternative Minimum Tax (AMT) while
> providing the lowest tax rate since before World War II.
No business of any size, from a Fortune 500 to a
> mom and pop shop
to a
>freelancer living job to job,
will pay more than
>15% of their business income in taxes.
This lower rate makes corporate inversions unnecessary by making America’s tax rate one of the best in the world.
>No family will have to pay the death tax.
You earned and saved that money for your family, not the government. You paid taxes on it when you earned it.
https://www.donaldjtrump.com/positions/tax-reform
Income Tax Rate Long Term Cap Gains/ Dividends Rate Single Filers Married Filers Heads of Household
0% 0% $0 to $25,000 $0 to $50,000 $0 to $37,500
10% 0% $25,001 to $50,000 $50,001 to $100,000 $37,501 to $75,000
20% 15% $50,001 to $150,000 $100,001 to $300,000 $75,001 to $225,000
25% 20% $150,001 and up $300,001 and up $225,001 and up
How does he actually get those taxes implemented. Won't congress fight it?
>>80939588
>Won't congress fight it?
yes and democrats will fillibuster.
>>80941190
To be fair I do not see the next Party that is able to cobble together majorities in the House & Senate as well as the Presidency to tolerate the Filibuster's continued existence.
If Clinton wins, for example, and takes the Senate with her I expect the Dems to kill it permanently for SCOTUS appointments to fill the vacant seat.
>>80937468
The "death tax" is something only less than 1% of all people end up having to pay and it's one of the more important taxes in trying to prevent a landed aristocracy in this country, it should be higher. Children shouldn't get a free ride through life just because their parents were rich.
Trump's tax plan will result in 1-1.2 trillion dollars of extra deficit PER YEAR.
and that's by a dynamic estimate that is factoring in 11% GDP growth a year which is phenomenal growth.
>>80942310
clarification on the estate tax/"death tax" it only taxes estates worth more than 5.6 million dollars.
The overwhelming majority of inheritances are far far far less than that.
fuck me!
>>80937468
It's not realistic without gutting the gibsmedats that make up 60+% of the annual budget
>>80942310
Kill yourself you goddamn communist
>>80937468
Politician promise, that will not happen.
>>80942310
You were doing so well until you said it would bring upon more deficit.
The point is along with this tax reform there will also be major government reform in order to reduce the currenlty bloated, exhorbinant costs for no good reason.
>>80943087
He's said he's not going to cut social security or medicare, and he hasn't said he's going to cut our military. That's 3 of our biggest government expenditures. Add in loan interest and you're talking about 75% of the Federal budget right there, if not more.
You're not going to save 1.2 trillion dollars a year out of cuts made to 20% of our budget.
>>80937468
what is the marriage penalty?
>>80942310
>>80943087
I think what many many many Murricans FOR and AGAINST Trump actually forget here is, that an income tax of 15% for big companies is a HUGE incentive to come to the U.S., stay in the U.S. or just pay regular taxes instead of weaseling out via some tax haven bullshit.
Here in Germany we have some 35% I believe, so with a yearly profit of a million dollars you would save 200.000 €uros per year. If its gross income it's even more.
And if Trump actually gets elected, being American and producing in America will be pushed as good things, many companies will want to add that to their products, and I believe Trump will make them prove it.
This might work out, guys. Do it. Anyone with half a brain and a sense of fun around the world is behind you.
>>80942310
>to prevent a landed aristocracy in this country
But Western societies already have an aristocracy, it just doesn't name itself like that to avoid anger.
Everyone with enough cash to be numbered among them is also rich enough to use all the loopholes.
>>80943314
He definitely is going to reform the military to be more efficient.
A really big point is telling the countries we currently protect (most of western europe, South Korea, for example) to either pay for our military presence in protecting them or we can get up and leave.
Not having to maintain abroad the globe those forces alone will reduce military spending but even better, presuming the countries in question agree to pay a proper stipend for continued protection from the most advanced military on the planet.
That's a good amount of fucking money saved from the military budget right there, either way.
To be frank though, I don't see how Trump could do anything other than come close to breaking even.
>>80943416
This is definitely part of the plan as well. Trump has been in the game as long as anyone else and knows what goes on. Fucktons of potential taxes are witheld via loopholes. If it were low enough to simply not be worth going through the risk (since trump will surely also make moves to close the loopholes) and effort to do so, companies will simply rather pay the tax.
>>80943845
Also keep in mind we recently spent 1.5 trillion on a fancy new fighter jet that isn't anymore practical than the recent one.
Trump would put an end to such blatant bull shit as well.
>>80943564
Which is why I think those estate taxes need to be higher. I mean fuck the walton family, yes, Sam Walton worked his ass off to make Wal*Mart successful but his children just live off of the inheritance. They've never worked a real day in their lives.
>>80943845
you, and Trump, misunderstand why we have our military in bases overseas. It is not for the host country's benefit primarily, it is for our benefit. It's how we maintain our hegemony, and how we maintain political clout on the rest of the world, and how we maintain military readiness and the ability to project force wherever we want at a moment's notice.
pulling out of those countries hurts us so much more than it'd hurt them.
>>80937468
It's too good, the kikes will never let us have it
>>80942310
Why dont you project 100 years out and see if the deficit is still there.
The problem with busy body bureaucrats and social planners, is they dont think about the long term prosperity of the country.
They just tax and tax and tax then use the resulting mess to justify more taxes and more regulations.
At some point you've gotta reign it all in.
Oh theres gonna be a deficit? Tough shit, fuck you.
>>80942372
But family farms aren't, and that is precisely the vehicle large agriculture companies use to push them out of business. Just because you inherit a farm worth $20 million, doesn't mean you can come up with $11 in liquid cash for Uncle Sam. Bye-bye family farm.
>>80945150
Family farms aren't worth $20 million.
