Fergasun Posted September 1, 2017 Share Posted September 1, 2017 AJC (Opinion): The deep, deep cynicism of "tax reform" Quote In a speech in Missouri later today, President Trump will attempt to relaunch his administration’s tax-reform crusade. If you believe what he says, his plan will be the bestest, biggest, boldest tax reform ever devised in the whole history of man. It will be beautiful; it will be huge, that I can tell you. However, once you peer inside that nicely wrapped giftbox — when you peel off the gilt-edged rhetoric and the beautifully tied bow — what do you find inside? You find nothing. The box is empty. .. Quote So let’s explore the two basic premises underlying that mission statement. PREMISE No. 1: American companies are suffering under a “crushing tax burden” that makes it impossible to turn a profit and compete internationally. Is that true? [Graphic Omitted] ee, look at that. Contrary to the rhetoric, corporate profits AFTER TAXES are actually at all-time record highs. In the past 15 years, while median household incomes have declined, corporate profits AFTER TAXES have more than tripled. ... Quote PREMISE No. 2: Because of these allegedly crippling tax burdens, American companies have been unwilling or unable to hire. Lifting that burden will lead to more investment and the creation of millions more jobs, and higher-paying jobs as well. .. Quote Then there’s the premise hidden within the premise: If corporate after-tax profits increase still further, will those additional profits be invested into job creation and higher pay, as Trump and others claim, or will those billions be used to further benefit the investing class, compounding the problem of income inequity? Based on history, they will be used to further benefit the already wealthy. I completely agree with this opinion piece -- just because someone says something doesn't mean they really will do it. Link to comment Share on other sites More sharing options...
Switchgear Posted September 1, 2017 Share Posted September 1, 2017 Seems relevant Link to comment Share on other sites More sharing options...
LadySkinsFan Posted September 1, 2017 Share Posted September 1, 2017 Since Reagan instituted supply side, and only for business, and Bush 41 called it voodoo economics, the wealthy class has benefited, to the detriment of We the People. It's the biggest scam on the planet. Link to comment Share on other sites More sharing options...
Dan T. Posted September 1, 2017 Share Posted September 1, 2017 I didn't retain much from my college econ classes, so I would really like to see a discussion of this damning analysis. On its face I believe it, in part because I don't trust a thing Donald Trump utters and in part because of the people he's surrounded himself with. Link to comment Share on other sites More sharing options...
LadySkinsFan Posted September 1, 2017 Share Posted September 1, 2017 The Republicans in general and specific are adamant on cutting taxes on the rich, that's why the middle class is shrinking. We are taking the hit and totally supporting the government. I'm now in the poor, elderly class and those ****ers still want us to suffer so they can keep more. Link to comment Share on other sites More sharing options...
Kilmer17 Posted September 1, 2017 Share Posted September 1, 2017 2 minutes ago, Dan T. said: I didn't retain much from my college econ classes, so I would really like to see a discussion of this damning analysis. On its face I believe it, in part because I don't trust a thing Donald Trump utters and in part because of the people he's surrounded himself with. Good luck with that dream. We'll hear nothing but "tax breaks for the rich" vs "businesses need tax breaks to hire more people" for the next 6 months. I agree with you though. Our nation needs to have a serious conversation about how much people and businesses should have to pay, what that should pay for, and what things can be excluded (ie loopholes) before taxing. Link to comment Share on other sites More sharing options...
@DCGoldPants Posted September 1, 2017 Share Posted September 1, 2017 That would be actual reform. Unless they prove otherwise. They're really talking about Tax Breaks and not Tax Reform. Link to comment Share on other sites More sharing options...
Riggo-toni Posted September 1, 2017 Share Posted September 1, 2017 Real reform would be something along the lines of 86 - lowering rates while slashing exemptions. Our corporate tax rate is one of the highest in the world, but the number of loopholes we've created is unparalleled. This creates all kinds of distortions and inefficiencies, usually benefitting large corporations with generous lobbying organizations at the expense of smaller companies....but it's where our elected officials make their bread and butter. The tax code is a gold mine for congress, and the most pampered industry is...real estate. How likely is it that the Emolumenter in Chief is gonna reform that? One group unfairly benefitting from tax breaks are LLCs, which make up the bulk Kushner's wealth, and again, much of Tangerine Turd's. Link to comment Share on other sites More sharing options...
FanboyOf91 Posted September 1, 2017 Share Posted September 1, 2017 Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted September 1, 2017 Share Posted September 1, 2017 We should tax the churches and give some relief to middle class. It would be a paradise. Link to comment Share on other sites More sharing options...
TheGreatBuzz Posted September 1, 2017 Share Posted September 1, 2017 3 minutes ago, TryTheBeal! said: We should tax the churches and give some relief to middle class. It would be a paradise. I agree. I'm fine with giving churches a tax break ONLY for expenses that get directly to helping the community like the cost of the food kitchen for feeding the poor. Tax them for everything else. Link to comment Share on other sites More sharing options...
LD0506 Posted September 1, 2017 Share Posted September 1, 2017 Exactly the kind of good idea that will NEVER happen Link to comment Share on other sites More sharing options...
The Sisko Posted September 1, 2017 Share Posted September 1, 2017 1 hour ago, Kilmer17 said: Good luck with that dream. We'll hear nothing but "tax breaks for the rich" vs "businesses need tax breaks to hire more people" for the next 6 months. I agree with you though. Our nation needs to have a serious conversation about how much people and businesses should have to pay, what that should pay for, and what things can be excluded (ie loopholes) before taxing. When the GOP starts in with their tax "reform" legislation, I'd love to see the so-called obstructionist Dems offer them an olive branch - a simplified flat tax that GOP'ers have been whining about forever. The poison pill would be a no-exemptions clause. Abolish exemptions and write offs for pretty much everything. Corporations and the wealthy would kill them if they ever went along with it. What, you mean you want to keep those "confiscatory" corporate/individual tax rates all of a sudden? Now why, pray tell, might that be the case? In any case, I can't wait to get my next $200 tax cut and watch the GOP revert to saying debt/deficits don't matter again. Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted September 1, 2017 Share Posted September 1, 2017 19 minutes ago, TheGreatBuzz said: I agree. I'm fine with giving churches a tax break ONLY for expenses that get directly to helping the community like the cost of the food kitchen for feeding the poor. Tax them for everything else. Beal/Buzz 2020! Link to comment Share on other sites More sharing options...
TheGreatBuzz Posted September 1, 2017 Share Posted September 1, 2017 1 minute ago, TryTheBeal! said: Beal/Buzz 2020! Ha! Im pretty sure you and I disagree about too many other things. I could possibly support a Buzz/Beal ticket though. Know your role! Link to comment Share on other sites More sharing options...
LadySkinsFan Posted September 1, 2017 Share Posted September 1, 2017 32 minutes ago, TryTheBeal! said: We should tax the churches and give some relief to middle class. It would be a paradise. Especially since Trump rolled back the rule that they can't participate in the election process like endorsing candidates. Link to comment Share on other sites More sharing options...
Mooka Posted September 1, 2017 Share Posted September 1, 2017 Wondering if Trump will be like Reagan/Bush and give the people an earned income tax credit. Link to comment Share on other sites More sharing options...
Fergasun Posted September 1, 2017 Author Share Posted September 1, 2017 2 hours ago, Dan T. said: I didn't retain much from my college econ classes, so I would really like to see a discussion of this damning analysis. On its face I believe it, in part because I don't trust a thing Donald Trump utters and in part because of the people he's surrounded himself with. Click on the link which has the graph of corporate profits AFTER TAX going up since 2000. If they are making more AFTER TAX why is middle class not rising proportionally? Link to comment Share on other sites More sharing options...
nonniey Posted September 1, 2017 Share Posted September 1, 2017 1 hour ago, TryTheBeal! said: We should tax the churches and give some relief to middle class. It would be a paradise. The power to tax is the power to destroy. Do you really want to give the Government the power to destroy churches? Link to comment Share on other sites More sharing options...
LadySkinsFan Posted September 1, 2017 Share Posted September 1, 2017 If the churches are participating in the political process, they don't deserve the deduction and should pay taxes like everyone else. Link to comment Share on other sites More sharing options...
Kilmer17 Posted September 1, 2017 Share Posted September 1, 2017 What would classify a church as participating in the process? i Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted September 1, 2017 Share Posted September 1, 2017 10 minutes ago, nonniey said: The power to tax is the power to destroy. Do you really want to give the Government the power to destroy churches? Stay in school. Link to comment Share on other sites More sharing options...
tshile Posted September 1, 2017 Share Posted September 1, 2017 You're never going to get honest tax discussion/reform from the "you didn't build that" coalition. The level of dishonesty required to push that narrative is so high it cannot be overcome. Link to comment Share on other sites More sharing options...
Dan T. Posted September 1, 2017 Share Posted September 1, 2017 38 minutes ago, Fergasun said: Click on the link which has the graph of corporate profits AFTER TAX going up since 2000. If they are making more AFTER TAX why is middle class not rising proportionally? I read the article and saw the charts. As I said, on its face it's pretty damning. Trump's rhetoric rarely matches reality. So I'm highly skeptical of whatever he has his Goldman Sachs pals planning. Link to comment Share on other sites More sharing options...
LadySkinsFan Posted September 1, 2017 Share Posted September 1, 2017 12 minutes ago, Kilmer17 said: What would classify a church as participating in the process? i Endorsing political candidates. Link to comment Share on other sites More sharing options...
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