Trump unveils economic plan that slashes tax rates


#1

Republican presidential candidate Donald Trump will propose imposing a temporary moratorium on new federal regulations, reviving the Obama-stalled Keystone oil pipeline project, slashing business tax rates and making childcare expenses fully tax-deductible, in a landmark economic speech Monday.
A campaign aide who asked not to be identified told a Reuters reporter that 'we don’t want it to be an economic disadvantage to have children.'
Trump’s proposals include measures to dramatically reduce income tax rates and simplify taxes for all Americans. He would trim the number of personal tax brackets from seven to just three.
He would also 'remove bureaucrats who only know how to kill jobs; replace them with experts who know how to create jobs

Read more: Donald Trump to propose making ALL childcare expenses tax-deductible | Daily Mail Online

Sounds good but will he do it? Let us assume he is sincere and means this. The fact is he will have an uphill battle to reduce or replace entrenched personnel that will fight him every step of the way to keep their jobs or their income coming in. Politicians live by getting things done for their cronies which keeps them in office.


#2

Needs to bring in Scott Walker who is a known union buster.


#3

Making all childcare tax deductible will win a truckload of votes I think.

That’s doggone good stuff.

I have three kids, so this would help me greatly.


#4

Not from the underclass, however. The more “deductions” they can claim, the LOWER their “Earned Income” check will be.


#5

Ok, it’s great to talk cutting taxes. I for one believe that if people had more money they would spend more thus stimulating our economy. But what I would really like to hear from Trump, Hillary or anyone is how to control congresses insane spending habit. Cutting taxes is fine, great, wonderful but not if you keep borrowing money because you spend to much.


#6

This guy was my pick from the start; he SHOULD be where Trump now is!!:yes:


#7

I liked Walker but as the primaries advanced, he showed that either he was mishandled or just did not have the staying power. I was looking for command type leadership, a person who can take charge, and sadly Walker wasn’t it.


#8

What everyone seems to conveniently forget is when Reagan convinced Congress to reduce tax rates, revenues to the government nearly DOUBLED because people’s incomes generally doubled, too and they wound up paying MORE in taxes than they had previously, which most people didn’t mind because they STILL had more spendable income than under the old tax rates.


#9

What everyone seems to conveniently forget is when Reagan convinced Congress to reduce tax rates, revenues to the government nearly DOUBLED
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Well said Pappadave & very true. And really that’s what Republicans in the past were focused on. Cut taxes, people buy more (which creates more jobs). More jobs mean more collected in taxes. Plus the government collects taxes when items are bought & sold. Everybody wins because we have a strong economy.
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That’s why I look at welfare as spending “dead” money. Oh sure it goes to buy food & other cheap items. Most items are made overseas & of course food here is not a real economic driver because it’s a volume rather than a high dollar commodity. To a certain extent I also see payments to government employees as partially dead money because the government doesn’t “make” or “sell” anything (well Hillary does of course sell but that costs us money not makes us money). They are consumers though.
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I remember when I was a kid the local prison grew food, made things & in short wasn’t a total loss. I don’t think they do that anymore because it’s to cruel making people work to pay their way. Kind of makes me wonder why they all don’t have cell phones. (wink)


#10

What everyone seems to conveniently forget is when Reagan convinced Congress to reduce tax rates, revenues to the government nearly DOUBLED

That is exactly right. Everybody laughed at the Laffer Curve when it was introduced, but it turned out to be true. The only way that we are going get out of the deficit is to grow the private sector economy. We know what Hillary wants to do - TAX AND SPEND. She’s running ads on it right now on television.

All the government does is take funds from the productive people and spend that money on pork, entitlement programs, higher wages for government unions, more government employees and income redistribution. The government unions, in turn, give money to the Democrat Party. It’s money laundering plain and simple. We are in a downward spiral, and soon we will be like Western Europe - in a permanent recession or depression.


#11

The ONLY thing that allows government workers to unionize is an EO issued by JFK–in 1961 or 62 if memory serves. All it would take is for a president to repudiate and cancel that EO to END this nepotistic relationship. When government workers are required to write a check each month for their “dues” to the union, they get a sense of how much membership is costing them in spendable income and those with any sense at all, drop out–unless they are compelled to remain members in order to keep their job. That’s precisely what happened in Wisconsin when Walker became governor and put a stop to “payroll deduction” of union dues for State employees, which is why the union leadership circulated that “recall petition”…which failed miserably, in SPITE of massive election fraud on the part of Democrats.


#12

People who ever knew about the relationship between taxes/jobs haven’t forgotten.

The problem is that too many people don’t understand how the economy works and never did and/or don’t really care about private sector job creation because they do not want a job - they want government and the subsistence other people’s toil provides by means of the strong arm of the government.

Democrats are all too willing to provide this government largess, while blaming the weak economy on the job creators - business/investors - and demanding they pay an ever increasing “fair share” in support of a subsistence lifestyle for an ever increasing number of people (“victims”).

Result: Business is banking profits and not reinvesting in expansion which, in turn, has flat-lined middle class salaries/wages and hampered the creation of good paying jobs and has led to a miserable 1.2% increase in 2nd quarter GDP.

But, have no fear. Hillary has a fix. More taxes on private sector job creators, more government/programs, more handouts and more shovel-ready jobs (if she can locate Obama’s shovels) and more “stimulus spending” - debt. For Democrats, taxation and debt is euphemistically referred to as “investment in our future”.


#13

People who ever knew about the relationship between taxes/jobs haven’t forgotten.

The problem is that too many people don’t understand how the economy works and never did and/or don’t really care about private sector job creation because they do not want a job - they want government and the subsistence other people’s toil provides by means of the strong arm of the government.

Democrats are all too willing to provide this government largess, while blaming the weak economy on the job creators - business/investors - and demanding they pay an ever increasing “fair share” in support of a subsistence lifestyle for an ever increasing number of people (“victims”).

Result: Business is banking profits and not reinvesting in expansion which, in turn, has flat-lined middle class salaries/wages and hampered the creation of good paying jobs and has led to a miserable 1.2% increase in 2nd quarter GDP.

But, have no fear. Hillary has a fix. More taxes on private sector job creators, more government/programs, more handouts and more shovel-ready jobs (if she can locate Obama’s shovels) and more “stimulus spending” - debt. For Democrats, taxation and debt is euphemistically referred to as “investment in our future”.[/QUOTE] I don’t altogether disagree, Doc. We have lots of people in this country who are perfectly content to turn much of their lives over to government bureaucrats, mistakenly believing that those folks have the “best interests” of the self-proclaimed “poor” in mind and that leaves them “free” to do the things they ENJOY–partying, drinking, using drugs, dancing and having sex–and babies, which allows them to increase what the government “gives”. Worse yet, we’re bringing in millions more of those with the same mind-set. Eventually, we’ll have more takers than we have producers and that will spell the end of the country.


#14

I went into this thread thinking Trump had said something stupid like he was going to slash it with a knife.


#15

I found that to be true


#16

Just remember when thinking about the Laffer curve, which is a bell shape, that when Reagan slashed taxes the top marginal rate was almost twice what it is today. There is a point where decreasing taxes does not increase revenue – it’s at the top of the bell, and on the left side of the bell, when rates are lower, it actually results in less revenue. How that looks under today’s tax rates I have no idea, and it’s not an argument against tax cuts. It just means the Laffer Curve is not always an argument for tax cuts if your objective is to generate tax revenue. Plenty of additional arguments exist to support tax cuts, but those won’t convince spending-addicted politicians to support them unfortunately.