Why does Trump feel like he has to lie about the tax plan?

Bill said:
Will you be supporting your opinion w/ some evidence that your liar & thief will be???
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Yes, you ignorant fuck:

Here are five breaks you’ll miss the most in the tax bill

Deductions for state, local and property taxes now capped at $10,000.


https://www.cnbc.com/2017/12/19/5-deductions-taxpayers-will-miss-the-most-in-the-tax-bill.html

Trump a) owns a lot of real estate and b) has his primary residency in NYC which has the highest state and city taxes in the country.
 
Thing1 said:
Riddle me that one.

That's the striking thing to me. Everyone who supports this plan keeps saying that the narrative about the plan being mainly for the wealthy is a media concoction & fake news.

So why can't Trump be straight about it? His repeated (many times) contention that the plan actually HURTS him and people who are wealthy & will cost them is easily disproven.

Why does he feel like he has to lie about it? If we're not being scammed, why can't he just be straight-up about it?
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Thing1 said:
And if you're going to hop on the thread, you should at least have a go at the question of the OP.
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If its so easily disproven, then have a go at it......disprove it....
 
Thing1 said:
Really, one of the most simplistic & braindead things you keep posting.

Are you working the border every day? Then please do not complain about immigration.
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Nice try shitstain

It is against the law for me to work the border. It isn’t against the law for you to voluntarily pay more in taxes

It isn’t simplistic at all. You just don’t like being confronted with your idiocy
 
My only complaint regarding Douchebag Donald with the tax bill is the same one I have regarding trade. He promised many times to end carried interest, and he promised many more times to implement massive tariffs.
 
Thing1 said:
And he gains from the elimination of the AMT,
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It doesn't eliminate the AMT it basically adjusted it for inflation something which the congress originally failed to do when they created it, and it will barely put a dent in Trumps losses from the elimination of the state/city deduction and the $10 thousand property tax deduction cap (Trump owns a lot of real estate):


Here’s the good news: under the new tax law, significantly more income is exempt from the calculations of the alternative minimum tax. “Under the old law, you can exempt $54,300 as a single filer and $84,500 as a married couple filing jointly. The new bill increases those exemptions by almost a third, to $70,300 and $109,400.”

The old AMT system also would reduce your exemption if your income hit a certain threshold: $120,700 for singles and $160,900 for couples. (In a lot of parts of the country, a husband and wife making $81,000 each are doing pretty good, but they’re not living a life of champagne dreams and caviar wishes.) Under the new law, those exemption thresholds are now way higher, $500,000 for an individual and $1 million for a couple.

If you live in one of those high-cost-of-living, high-state-and-local-tax places, there’s one piece of bad news and at least two pieces of good news. The bad news is you can only deduct $10,000 of your state and local taxes, and maybe you’ve gotten used to deducting $12,000, or $15,000, or even much higher sums each year. (Recall the Tax Foundation’s super-cool map of average state and local tax deductions by county. Yes, New York City’s five boroughs top the list with an average of $24,898. But the eighth-highest county in the country is Nassau County on Long Island with an average state and local tax of $11,624. Meaning the average taxpayer in that county will, in future years, deduct $10,000 instead of $11,624. That’s not a tax increase of $1,624; it means their level of taxable income goes up by $1,624. Unpleasant, but hardly devastating.)


http://www.nationalreview.com/corner/454797/amt-change-gop-tax-bill-will-help-blue-state-taxpayers

changes to the estate tax,
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A) even if accurate that would not effect him it would effect his children, shareholders, and employees.

B) billionaires don't pay the estate tax, the death tax effects working farmers and small business owners who can't afford the high priced corporate accountants to find the tax havens and loopholes and whose children either have to go into debt or sell their farms/businesses in order to pay the death tax:


Real Life Effects of the Death Tax

The United States Senate Committee on Finance released a report focusing on the ineffectiveness of the death tax, specifically stating that ‘the wealthy and well connected use elaborate trusts and secretive shell companies to dodge the tax.’ Many times, wealthy individuals hire lawyers and accountants to find loopholes to avoid paying this tax.

Family businesses that lack these resources to manage their estates are the ones held accountable to pay this tax rather than the wealthy. Eliminating this tax will help prevent financial hardships imposed by this inflated tax on individuals.

According to the Tax Foundation, repeal of the death tax will result in an estimated 2.3 percentincrease in capital invested in the U.S. economy, ultimately boosting productivity 0.7 percentresulting in increased labor force participation by the equivalent of 159,000 full-time jobs. Tax reform proposals eliminating the death tax anticipate over a 10-year time span $28 billion total revenue increase for small businesses.

The death tax is double taxation. The descendant paid taxes on this income over the course of his or her lifetime, and death should not be a valid excuse to tax the same money again.

More than 99 percent of U.S. employer firms are small businesses, many of them family-owned. The death tax establishes a burden that prevents families from being able to keep their businesses running from one generation to the next, and should be put to an end.

Even businesses that do not end up owing the death tax have to spend their limited time and resources to plan to ensure their businesses can endure from one generation to the next.

The idea of looking at a single year for the estate tax does not adequately portray the impact of the tax since it is only on deceased individuals. Between 1995-2016 a total of 102,000 closely held businesses (sole proprietorships, partnerships, S-Corps, and closely held C-Corps) and 36,000 farms paid the estate tax.

On the farm side, according to USDA Agriculture Census, there were 3.2 million farmers in 2012, with a total US population of 314 million, making farmers equal to just over one percent of the population. However, 13 percent of estates subject to the estate tax included farms. The average age of farmers is also increasing, one third of all farmers are over age 65, and 62 percent are over age 55. As our farming generation grows older the number of farmers paying the estate tax will continue to dramatically rise.

https://www.tedcruz.org/press-relea...ealing-death-tax-benefits-rich-couldnt-truth/

deductions for business and other provisions.
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Such as?
 
The big show, and media focus is all about how much they lowered the tax rate, but if you want to look at the favors they did for only the wealthy, look at what they did with pass-through corporations and how few "loopholes "they closed, after promising they would close so many. While they lowered the highest rate they did nothing about multimillionaires using so many loopholes that they're effective rate is much lower Then that of the average middle-class American.
 
Looks like I'm gonna be about 20 percent less in taxes based on what they did for pass-through corporations.
 
Threedee said:
My only complaint regarding Douchebag Donald with the tax bill is the same one I have regarding trade. He promised many times to end carried interest, and he promised many more times to implement massive tariffs.
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Trump didn't write the bill he's signing it.
 
Jarod said:
The big show, and media focus is all about how much they lowered the tax rate, but if you want to look at the favors they did for only the wealthy, look at what they did with pass-through corporations and how few "loopholes "they closed, after promising they would close so many. While they lowered the highest rate they did nothing about multimillionaires using so many loopholes that they're effective rate is much lower Then that of the average middle-class American.
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Lol use plain English, you're talking about small businesses who make up 99% of employer firms, you know those actually employ the majority of average middle class Americans? Tell me, when did the republicans promise to raise taxes on small business owners who would not receive the benefits of the corporate tax rate deduction?
 
Jarod said:
Looks like I'm gonna be about 20 percent less in taxes based on what they did for pass-through corporations.
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Now you can give the poor saps working in your office a nice fat raise.....pay for their health care....and supply the girls with birth control.....
 
Jarod said:
The big show, and media focus is all about how much they lowered the tax rate, but if you want to look at the favors they did for only the wealthy, look at what they did with pass-through corporations and how few "loopholes "they closed, after promising they would close so many. While they lowered the highest rate they did nothing about multimillionaires using so many loopholes that they're effective rate is much lower Then that of the average middle-class American.
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If states simply do nothing in response to federal tax reform, most will experience an increase in revenue due to the provisions of the federal tax reform bill. That’s because the base-broadening provisions flow through to most state tax codes, but the corresponding rate reductions do not. And now we discover that one significant base narrower—the pass-through deduction—won’t affect most states, either.
That provision provides a 20 percent deduction against qualified pass-through business income for those with incomes below $315,000 (joint filers). For filers above that threshold, the deduction is limited to the greater of (a) 50 percent of wage income or (b) 25 percent of wage income plus 2.5 percent of the cost of tangible depreciable property, and many service businesses are excluded. (The benefit phases out between $315,000 and $415,000.)

https://taxfoundation.org/pass-deduction-wont-flow-states/

it is structured as a deduction against taxable income, not adjusted gross income (AGI). That matters because 27 states use federal AGI as their starting point for taxation, while only six begin with federal taxable income. The remaining states which impose individual income taxes either use federal gross income or a state-specific calculation. This means that while 41 states tax wage income, only six of them have to worry about the pass-through deduction.
Those six states are Colorado, Michigan, Minnesota, North Dakota, South Carolina, and Vermont, and it’s a good bet that legislators in those states will be thinking about decoupling from the pass-through deduction.
 
Thing1 said:
Clearly, you think that is the ultimate point.

It isn't.
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For those of you that oppose the bill claiming it will raise taxes, it is the point. For you lefties that say the federal government should get more money and you wouldn't have a problem paying higher taxes if it went to (fill in the blank), here's your chance to prove it.
 
NOVA said:
Now you can give the poor saps working in your office a nice fat raise.....pay for their health care....and supply the girls with birth control.....
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I already overpaid them, and get them full healthcare that provides birth control. I'm just going to give myself a big fat 20 percent raise, which I'm going to put in the bank.

I have the best employees of any law firm in Florida.
 
NOVA said:
If states simply do nothing in response to federal tax reform, most will experience an increase in revenue due to the provisions of the federal tax reform bill. That’s because the base-broadening provisions flow through to most state tax codes, but the corresponding rate reductions do not. And now we discover that one significant base narrower—the pass-through deduction—won’t affect most states, either.
That provision provides a 20 percent deduction against qualified pass-through business income for those with incomes below $315,000 (joint filers). For filers above that threshold, the deduction is limited to the greater of (a) 50 percent of wage income or (b) 25 percent of wage income plus 2.5 percent of the cost of tangible depreciable property, and many service businesses are excluded. (The benefit phases out between $315,000 and $415,000.)

https://taxfoundation.org/pass-deduction-wont-flow-states/

it is structured as a deduction against taxable income, not adjusted gross income (AGI). That matters because 27 states use federal AGI as their starting point for taxation, while only six begin with federal taxable income. The remaining states which impose individual income taxes either use federal gross income or a state-specific calculation. This means that while 41 states tax wage income, only six of them have to worry about the pass-through deduction.
Those six states are Colorado, Michigan, Minnesota, North Dakota, South Carolina, and Vermont, and it’s a good bet that legislators in those states will be thinking about decoupling from the pass-through deduction.
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Florida does not have income tax
 
Jarod said:
I already overpaid them, and get them full healthcare that provides birth control. I'm just going to give myself a big fat 20 percent raise, which I'm going to put in the bank.

I have the best employees of any law firm in Florida.
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Then why do you support increasing taxes on small businesses?
 
domer76 said:
The pass through privision nets him tons of money
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A pass through corporation is a small business you ignorant twit. The Trump Organization is a conglomerate with primary investments in real estate and the real estate deduction has been capped at $10k, Trump is going to lose $.
 
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