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Trump and his cabinet/buffoonery- Get your bunkers ready!

brandymac27

By brandymac27
in The Tailgate

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Burgold

Burgold

Posted
Posted
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Mnuchin says Trump's tax plan will pay for itself "with growth." In other words, the White House can't find a way to make the numbers work.

We've heard this for 30 years. It hasn't worked yet. I'd say "definition of insanity," but look who we elected President!

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DogofWar1

DogofWar1

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Posted
55 minutes ago, visionary said:
 

 

Oh good I was worried we wouldn't see an appearance from the "most bull**** claim about curbing deficits ever."

 

Party like it's 2001!  Pass a big ole tax bill that balloons the deficit and then spend the next 16 years screaming about the deficit.

 

Honestly this is a good test for real conservatives.  Attacking deficit spending has been a staple of conservative politics for years.  Let us see how many put their money where their mouth is.

 

For the sake of 5 righteous Senators, this bill will be DOA.  For the sake of 30 righteous Reps, this bill will be DOA.

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Burgold

Burgold

Posted
Posted
1 minute ago, Hersh said:

Trump is a real POS. I don't think he actually understands or has the intellectual capability to understand the economic consequences of withdrawing from NAFTA. 

His only interests lie in things that make him money personally or increase his personal fame. Otherwise, he's all for letting it burn. His business history shows exactly that.

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PF Chang

PF Chang

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In general, tax deductions disproportionately benefit the rich. I'm fine with eliminating them. 

 

On the other hand... the mortgage interest deduction is probably the most beneficial to the rich. This combined with eliminating the AMT (bad idea) and the estate tax (bad idea) is likely going to make the Trump tax plan your typical GOP tax cut for the 1%. 

 

People are going to say a GOP tax plan is a giveaway to the wealthy regardless of the details, and I'll wait to see everything before I'm certain, but it looks that way already. 

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Burgold

Burgold

Posted
Posted
7 minutes ago, PF Chang said:

In general, tax deductions disproportionately benefit the rich. I'm fine with eliminating them. 

Big problem with that is that they also want to cut/eliminate a very large part of the safety net. If you get rid of the safety net and get rid of people's incentive to deduct than the charity's, not for profits, and religious institutions will be even harder pressed to pick up the slack. :2cents:

 

You can do one or the other. It's going to be a disaster to do both especially if in the meantime you are exploding the deficit and overburdening federal agencies to the degree his budget seems to want to.

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Larry

Larry

Posted
Posted
17 minutes ago, PF Chang said:

In general, tax deductions disproportionately benefit the rich. I'm fine with eliminating them. 

 

On the other hand... the mortgage interest deduction is probably the most beneficial to the rich. This combined with eliminating the AMT (bad idea) and the estate tax (bad idea) is likely going to make the Trump tax plan your typical GOP tax cut for the 1%. 

 

People are going to say a GOP tax plan is a giveaway to the wealthy regardless of the details, and I'll wait to see everything before I'm certain, but it looks that way already. 

 

Well, it's a fact that you have to work to craft a tax plan that doesn't disproportionately benefit the rich. Because they're the ones who get taxed the most. (Although I can think of a way to do it. Obama's tax cut, reducing FICA withholding, went to the bottom 99%. Including the famous "47% who don't pay income tax". And took effect instantly, as opposed to on April 15th.)  

 

Just as an example, a proposal to cut all income taxes in half would mostly benefit the rich. Because right now, they disproportionately pay the taxes. 

 

But so far, this doesn't sound like a "cut all taxes, and it just happens to mostly benefit the rich" proposal. Because it targets special taxes that pretty much only tax the rich, right now. The estate tax pretty much only hits the top 1%, right now. Getting rid of it is a huge windfall to people who inherit huge amounts of money, and does absolutely nothing for anybody else. 

 

 

 

What I put in the "should surprise me, but doesn't" category is the way so many people seem to just accept on faith the notion that we somehow need a big tax cut right now. 

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Hersh

Hersh

Posted
Posted
15 minutes ago, PF Chang said:

In general, tax deductions disproportionately benefit the rich. I'm fine with eliminating them. 

 

On the other hand... the mortgage interest deduction is probably the most beneficial to the rich. This combined with eliminating the AMT (bad idea) and the estate tax (bad idea) is likely going to make the Trump tax plan your typical GOP tax cut for the 1%. 

 

People are going to say a GOP tax plan is a giveaway to the wealthy regardless of the details, and I'll wait to see everything before I'm certain, but it looks that way already. 

I'm good with eliminating pretty much all deductions while increasing the levels of when tax brackets kick in and doing it over a period of a few years. However, that's far too simple and there is no chance of serious discussions on fiscal responsibility.

 

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RedskinsMayne

RedskinsMayne

Posted
Posted
2 hours ago, Burgold said:

We've heard this for 30 years. It hasn't worked yet. I'd say "definition of insanity," but look who we elected President!

 

 

Actually, for the past 8 years we tried taxing our way to grow and a balanced budget but all it got us was the slowest recovery from recession ever.

 

It might work, but it will never ever pass like this. There will be too many compromises and too many special interested getting their ten cent in for it t change anything. That's what happened for the past 30 years. Did you see the courts carve up obama care? Same types of things have happened for the past 30 years.

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Hersh

Hersh

Posted
Posted
19 minutes ago, RedskinsMayne said:

 

 

Actually, for the past 8 years we tried taxing our way to grow and a balanced budget but all it got us was the slowest recovery from recession ever.

 

This is not a factual statement in any way shape or form. 

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Larry

Larry

Posted
Posted
25 minutes ago, Hersh said:

This is not a factual statement in any way shape or form. 

 

It's what passes for truth, in politics, now days.  

 

It's a couple of statements which are kinda close to true.  And explaining why they aren't true or relevant will take more than three words, and will therefore be ignored and replied to by shouting the slogan louder.  Strung together intentionally to try to make it look like you've said something that's completely, intentionally, untrue.  

 

For example, it's at least debatably true that the recovery from this collapse was probably the second longest in US history.  But that was due to the fact that it was also the second biggest collapse in US history.  Not, as he would like us to believe, because somewhere during that recovery there were some minor "tax hikes" (which were actually mostly composed of allowing a few tax cuts which were sold as being temporary, in the first place, to actually BE temporary.)  

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