Close Topic Options

USA Tax Policies - Page 5

Trump says he is releasing something 'phenomenal in terms of tax' in 2 to 3 weeks:

The president also said he is "Lowering the overall tax burden on American businesses, big league."

Source 5z.

Policies Tax USA

The White House on Wednesday unveiled points in a dramatic tax proposal that leans heavily on tax cuts, but leaves many questions unanswered.

So far, President Trump wants to slash individual tax rates -- cutting the top rate from 39.6% to 35% -- and reduce the number of total rates from seven to three. He also wants to cut the top tax rate for all businesses to 15%, far below the current top rates.

The administration's tax outline will be met with a lot of skepticism among lawmakers, even though Republicans control Congress. In fact, some GOP aides suggest that the White House -- with its emphasis on tax cuts and too few details on how they'd be paid for -- is not constructively contributing to a serious discussion of tax reform. Ref. CNN.

USA Tax Policies History & Civil Business Politics

Cutting the business rate is the most important thing as we have one of the highest corporate tax rates of the industrialized nations. Cutting that could lead to companies returning to the US and also to investment in the US as that money is put back in companies' pockets. Investment in the US would definitely lead to jobs, first during the construction and equipping phases and then to staff these facilities. Of course, this is dependent on the companies investing in the US. If I were writing this law I would write some type of clause that requires companies to reinvest a certain (Fairly high) percentage of these new found gains back into their US operations or not be eligible for the tax breaks. I'm not sure this is even legal, but if it is it's how I'd go.

Page 5 Policies Tax USA

I think they have some real good ideas for over hauling the tax code to make it simpler. Removing the death tax and simplified tax forms will help us all.

Policies Tax USA

KN,

Absolutely, simplifying the tax code will be great too. What we have now is arcane. I doubt a 10th level mage could read it. For certes it's written in draconic. All fooling aside, it was written by lawyers and accountants so only lawyers and accountants could interpret it to make sure lawyers and accountants always have jobs.

USA Tax Policies

Yeah and that is what makes it soo hard to understand. I know that I have always done my own taxes because Lawyers and accountants charge way too much. I would rather get less back and save money by doing it myself. I was listening a little when they were talking about the changes and I think so far it is sounding pretty good.

USA Tax Policies - Page 5

Yeah, well expect the press to rip it apart and the Democrats to call it a gift for the rich… which it may be, I don't know, but neither do they yet. Both the press and Democrats will do this without knowing just to be negative. God forbid we actually tried to work together on some of this stuff.

USA Tax Policies Politics Business Civil & History - Page 5

Nothing I've seen indicates it being anything other than a gift to the rich.

But yeah, the dems wouldn't care if it did the exact opposite, they'd still tear into it.