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Forums - Politics Discussion - Trump's Tax Plan Would Add $5.3 Trillion To National Debt

Elections are worthless for actual change. You're inevitably going to be working in the framework of what the establishment wants, it's just that the extremity of it will vary.



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Acevil said:

I hate both sides for this absolute reason. The right seem to have forgotten what it means to be conservative. It should not be about cutting taxes, it should be about balance budget. (I am willing to look long term for this, as in you spend some today, so the future you productive, such things like bridges, trains, subways.)

It is also the reason I am very much anti-NDP in Canada. (These guys are the left.)

HAHAHAHA, what? :P When has a right-winged government ever been a good economic option? Right winged-governments tend to focus on tyrannical racism and demagogy, economy is not a focus for them. What do right-wingers do with the economy? They bumble around, destroy regulation and infrastructure, until the left gets voted in to repair the economic disaster.



I describe myself as a little dose of toxic masculinity.

then increase tax and get corrupt and complacent inviting the Conservatives back who promise change and lower taxes...

endless cycle.



Democrats have a much better record at controlling debt. Whenever Republicans want to reduce spending they also correspondingly decrease revenue with tax cuts, which makes the exercise neutral or negative in terms of debt. But more often republicans merely move spending from things they don;t like spending on (education, health welfare) into things they do like spending money on (defense, law and order, private prisons, farm subsidies) and don't actually reduce spending while giving tax cuts to people who already have way more money than they need.



“The fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt.” - Bertrand Russell

"When the power of love overcomes the love of power, the world will know peace."

Jimi Hendrix

 

That's terrible. Hopefully a plan like this never goes through.



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binary solo said:
Democrats have a much better record at controlling debt. Whenever Republicans want to reduce spending they also correspondingly decrease revenue with tax cuts, which makes the exercise neutral or negative in terms of debt. But more often republicans merely move spending from things they don;t like spending on (education, health welfare) into things they do like spending money on (defense, law and order, private prisons, farm subsidies) and don't actually reduce spending while giving tax cuts to people who already have way more money than they need.

Pretty much. 

The theory is if you let rich people pass less in tax, surely that money will make it back to "regular joes". 

Except it kinda doesn't, lol. Rich people as it turns out are usually rich because they don't throw away their money in stupid ways and even if they aren't "money smart" the first thing rich people do is hire people like accountants/managers to handle their money who do know how to keep that money indefinitely. 

And if they do invest, it's not in some local factory, it's going to be in the "global market", holding/buying stocks/bonds, buying debt, property overseas, etc. etc. And those companies under pressure to maximize profit to look appealling to said investor ... guess where they go to make products? In fact the tax system incentivies you never "cashing out" of the stock/bond market, you want to hold them basically until death and never liquidate assets unless you have to. You use dividends and interest earned from your investments to pay for your mansion, yachts, wife, mistress' shopping trips, cars, etc. 

"Average Joe USA" ain't gonna see a damn nickel of that money, lol. 



Soundwave said:
binary solo said:
Democrats have a much better record at controlling debt. Whenever Republicans want to reduce spending they also correspondingly decrease revenue with tax cuts, which makes the exercise neutral or negative in terms of debt. But more often republicans merely move spending from things they don;t like spending on (education, health welfare) into things they do like spending money on (defense, law and order, private prisons, farm subsidies) and don't actually reduce spending while giving tax cuts to people who already have way more money than they need.

Pretty much. 

The theory is if you let rich people pass less in tax, surely that money will make it back to "regular joes". 

Except it kinda doesn't, lol. Rich people as it turns out are usually rich because they don't throw away their money in stupid ways and even if they aren't "money smart" the first thing rich people do is hire people like accountants/managers to handle their money who do know how to keep that money indefinitely. 

And if they do invest, it's not in some local factory, it's going to be in the "global market", holding/buying stocks/bonds, buying debt, property overseas, etc. etc. And those companies under pressure to maximize profit to look appealling to said investor ... guess where they go to make products? In fact the tax system incentivies you never "cashing out" of the stock/bond market, you want to hold them basically until death and never liquidate assets unless you have to. You use dividends and interest earned from your investments to pay for your mansion, yachts, wife, mistress' shopping trips, cars, etc. 

"Average Joe USA" ain't gonna see a damn nickel of that money, lol. 

Absolutely, and yet you have countless zombies in the middle class and often below who bleat like sheep "Cut taxes, taxes are socialism/communism". The same group of imbeciles who nearly burst a blood vessel when some suggested returning the top marginal rate to 39% from 35% for top earners. The complete nonsense coming out from the 'Joe the Plumber' fiasco was a perfect example of this unthinking repitition of propaganda.

Perhaps more importantly to me is uncapping the limit for social security contribution, setting Capital Gains at pre-1980 levels, and outlawing tax haven practices offshore. Eliminate corporate welfare as well. Implement a sliding corporate tax rate for the % of workers in the USA. 100% workers = minimal corporate tax rate, 0% workers = 75% taxation.

The funny thing is that a more intelligent tax code could actually lower taxes on 85% or more of the population, even those who rabid right-wing types like to claim 'pay no taxes'. Blatant BS. People pay taxes on everything, even their income via SS.

I'm not giving the 'left' a free pass either, as the so-called 'Affordable Care Act' is really just more enforced corporate welfare that funnels more money by force of law into the vampiric business interests that create the most expensive health care system on earth, but far from the best health results.

It's a damned mess. I don't like any of the candidates. I'm so tired of trying to choose the best of bad options. 300 million fucking people and we constantly have buttholes making the final cut. It's so senseless.



Arkaign said:
Soundwave said:

Pretty much. 

The theory is if you let rich people pass less in tax, surely that money will make it back to "regular joes". 

Except it kinda doesn't, lol. Rich people as it turns out are usually rich because they don't throw away their money in stupid ways and even if they aren't "money smart" the first thing rich people do is hire people like accountants/managers to handle their money who do know how to keep that money indefinitely. 

And if they do invest, it's not in some local factory, it's going to be in the "global market", holding/buying stocks/bonds, buying debt, property overseas, etc. etc. And those companies under pressure to maximize profit to look appealling to said investor ... guess where they go to make products? In fact the tax system incentivies you never "cashing out" of the stock/bond market, you want to hold them basically until death and never liquidate assets unless you have to. You use dividends and interest earned from your investments to pay for your mansion, yachts, wife, mistress' shopping trips, cars, etc. 

"Average Joe USA" ain't gonna see a damn nickel of that money, lol. 

Absolutely, and yet you have countless zombies in the middle class and often below who bleat like sheep "Cut taxes, taxes are socialism/communism". The same group of imbeciles who nearly burst a blood vessel when some suggested returning the top marginal rate to 39% from 35% for top earners. The complete nonsense coming out from the 'Joe the Plumber' fiasco was a perfect example of this unthinking repitition of propaganda.

Perhaps more importantly to me is uncapping the limit for social security contribution, setting Capital Gains at pre-1980 levels, and outlawing tax haven practices offshore. Eliminate corporate welfare as well. Implement a sliding corporate tax rate for the % of workers in the USA. 100% workers = minimal corporate tax rate, 0% workers = 75% taxation.

The funny thing is that a more intelligent tax code could actually lower taxes on 85% or more of the population, even those who rabid right-wing types like to claim 'pay no taxes'. Blatant BS. People pay taxes on everything, even their income via SS.

I'm not giving the 'left' a free pass either, as the so-called 'Affordable Care Act' is really just more enforced corporate welfare that funnels more money by force of law into the vampiric business interests that create the most expensive health care system on earth, but far from the best health results.

It's a damned mess. I don't like any of the candidates. I'm so tired of trying to choose the best of bad options. 300 million fucking people and we constantly have buttholes making the final cut. It's so senseless.

John Oliver did a great segment of the wealth gap which explains in part why the average joe supports these tax cuts for the super rich. It all has to do with the thought that someday they could become millionaires too and when that day comes they want to be able to benefit from those tax cuts.



Signature goes here!

Both candidates suck, but the people who did the study says it is possible that the plan will add that much to the debt not that it definitely will. They are guessing, it doesn't mean a thing. Only increasing the tax on the rich won't do it either. They need to look at how the money is spent and fix the waste. The problem is not that they do not get enough money, it is how they waste it.

Someone mentioned Nobel Prize winners and the Democratic economic plan? If they really did support the plan it was bad. The deficit is up, what, 6-7+ trillion?



Arkaign said:
Soundwave said:

Pretty much. 

The theory is if you let rich people pass less in tax, surely that money will make it back to "regular joes". 

Except it kinda doesn't, lol. Rich people as it turns out are usually rich because they don't throw away their money in stupid ways and even if they aren't "money smart" the first thing rich people do is hire people like accountants/managers to handle their money who do know how to keep that money indefinitely. 

And if they do invest, it's not in some local factory, it's going to be in the "global market", holding/buying stocks/bonds, buying debt, property overseas, etc. etc. And those companies under pressure to maximize profit to look appealling to said investor ... guess where they go to make products? In fact the tax system incentivies you never "cashing out" of the stock/bond market, you want to hold them basically until death and never liquidate assets unless you have to. You use dividends and interest earned from your investments to pay for your mansion, yachts, wife, mistress' shopping trips, cars, etc. 

"Average Joe USA" ain't gonna see a damn nickel of that money, lol. 

Absolutely, and yet you have countless zombies in the middle class and often below who bleat like sheep "Cut taxes, taxes are socialism/communism". The same group of imbeciles who nearly burst a blood vessel when some suggested returning the top marginal rate to 39% from 35% for top earners. The complete nonsense coming out from the 'Joe the Plumber' fiasco was a perfect example of this unthinking repitition of propaganda.

Perhaps more importantly to me is uncapping the limit for social security contribution, setting Capital Gains at pre-1980 levels, and outlawing tax haven practices offshore. Eliminate corporate welfare as well. Implement a sliding corporate tax rate for the % of workers in the USA. 100% workers = minimal corporate tax rate, 0% workers = 75% taxation.

The funny thing is that a more intelligent tax code could actually lower taxes on 85% or more of the population, even those who rabid right-wing types like to claim 'pay no taxes'. Blatant BS. People pay taxes on everything, even their income via SS.

I'm not giving the 'left' a free pass either, as the so-called 'Affordable Care Act' is really just more enforced corporate welfare that funnels more money by force of law into the vampiric business interests that create the most expensive health care system on earth, but far from the best health results.

It's a damned mess. I don't like any of the candidates. I'm so tired of trying to choose the best of bad options. 300 million fucking people and we constantly have buttholes making the final cut. It's so senseless.

39% of Americans think they will one day make it to the top 1%. They don't want tax increases on the rich because they think they'll be there one day, so they don't want their future selves to have to pay all that tax. And they're using their "struggling to make ends meet" current mindest when thinking about that massive big tax rate. Rather than realising that that huge tax rate only comes into play when you already have more money than you need to give yourself a comfortable life and reasonable long term financial security.



“The fundamental cause of the trouble is that in the modern world the stupid are cocksure while the intelligent are full of doubt.” - Bertrand Russell

"When the power of love overcomes the love of power, the world will know peace."

Jimi Hendrix