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re: Dissecting Trump's economic plan 2024.. eliminate income taxes
Posted on 5/7/23 at 8:44 pm to ProSoundAdam
Posted on 5/7/23 at 8:44 pm to ProSoundAdam
quote:Businesses moved back because we stopped taxing repatriated profits.
Business moved here due to tariffs
This post was edited on 5/7/23 at 8:45 pm
1
Posted on 5/7/23 at 8:45 pm to BBONDS25
quote:
Yikes. Bad example for you. Reasonable lawyers disagree on the legal conclusions drawn from the same set of facts daily. Doctors have differing opinions daily. (Ever heard of a second opinion?).
No moron.
You are comparing lawyers opinions to lawyers opinions. Doctors opinions to doctor opinions. I am comparing policy from leading economists to Trump policy. There is a difference. Trump is not an expert.
Posted on 5/7/23 at 8:45 pm to BBONDS25
I want “equality” in tax rates, not actual taxes paid. IOW, flat tax percentage.
A graduated income tax actively discouraged people from trying to earn what they could because that $1 extra may only see them keeping $0.40 of it.
A graduated income tax actively discouraged people from trying to earn what they could because that $1 extra may only see them keeping $0.40 of it.
Posted on 5/7/23 at 8:46 pm to VoxDawg
quote:Yeah. No one ever takes cash and doens't collect sales tax.
everyone who buys at retail are paying into the Treasury, be it drug dealers, international tourists, et al.
Posted on 5/7/23 at 8:46 pm to BBONDS25
What is really funny is when you ask "free Traders" (and we do not have free trade) about real life.
"Hey Bob! Man, your job left 15 years ago. You have been making what?"
Bob " not enough. I work 2 jobs just to make ends meet".
"Well Bob. What if I can bring that plant back here? What if it pays you $25,000 more than you make now, and you won't have to work that second job?"
Bob "What's the catch??"
"Well Bob... The catch is, .05% increase in your washing machine cost. Maybe even $100 dollars more."
Bob.. "OH HELL NO!!! I'M NOT GOING TO STAND HERE AND PAY $100 MORE FOR A WASHING MACHINE WHILE ONLY MAKING $25K MORE PER YEAR!!"
That is their argument in a nutshell. Went through this in 2016.
"Hey Bob! Man, your job left 15 years ago. You have been making what?"
Bob " not enough. I work 2 jobs just to make ends meet".
"Well Bob. What if I can bring that plant back here? What if it pays you $25,000 more than you make now, and you won't have to work that second job?"
Bob "What's the catch??"
"Well Bob... The catch is, .05% increase in your washing machine cost. Maybe even $100 dollars more."
Bob.. "OH HELL NO!!! I'M NOT GOING TO STAND HERE AND PAY $100 MORE FOR A WASHING MACHINE WHILE ONLY MAKING $25K MORE PER YEAR!!"
That is their argument in a nutshell. Went through this in 2016.
Posted on 5/7/23 at 8:47 pm to VoxDawg
Personally love this idea. Hopefully we get there
Posted on 5/7/23 at 8:47 pm to teke184
quote:Meh. There's not greater "shelter" than the home mortgage interest deduction. Just about everything else is available to every tax payer. I can't thing of any that have a minimum income requirement.
“The rich” also manage to structure things so that their income is heavily sheltered.
Posted on 5/7/23 at 8:48 pm to frogtown
quote:
Do you not practice that when you go to a doctor or lawyer?
Posted on 5/7/23 at 8:48 pm to frogtown
I get that you want it to not be, but fortunately it was a part of the whole picture.
Posted on 5/7/23 at 8:48 pm to teke184
quote:
I want “equality” in tax rates, not actual taxes paid. IOW, flat tax percentage.
Deal. The rich lose here right now too, badly.
This post was edited on 5/7/23 at 8:49 pm
Posted on 5/7/23 at 8:50 pm to teke184
quote:
A graduated income tax actively discouraged people from trying to earn what they could because that $1 extra may only see them keeping $0.40 of it.
When you hit a new tax bracket it does not retroactively apply to the previous brackets. Your argument is actually one the rich should be making
Posted on 5/7/23 at 8:50 pm to teke184
quote:
The rich have the resources to pay people to maneuver through all this shite.
Yep, you said the magic words. The rich have the resources to pay people to work and the income received from the rich is taxed. Now, think about it in a multiple sense.
After all, I have not ever and will not ever WORK FOR A PO' MAN. OH NO NO!!
Posted on 5/7/23 at 8:51 pm to ProSoundAdam
quote:
I get that you want it to not be, but fortunately it was a part of the whole picture.
I want you to break down the cost of the tariffs to the consumer versus the jobs gained. Is that the "whole picture". Is that what we need to look at?
cost of tariffs
Posted on 5/7/23 at 8:52 pm to frogtown
quote:
No moron. You are comparing lawyers opinions to lawyers opinions. Doctors opinions to doctor opinions
holy shite! YOU asked me about doctor and lawyer opinions. Need a reminder?: YOUR POST:
quote:
So you don't believe on getting advice from an expert in their field. Do you not practice that when you go to a doctor or lawyer?
Geez. This is not your best work. Take the L and move on. quote:
am comparing policy from leading economists to Trump policy. There is a difference. Trump is not an expert.
Oh good lord. I see why you are confused. You, as a layman go to a lawyer. He gives you an opinion. Now if another layman goes to another lawyer and gets a different opinion, how is that any different? This really isn’t difficult stuff.
One quick question: How was the economy under Trump? How about under any of the “experts” you cited?
This post was edited on 5/7/23 at 8:56 pm
Posted on 5/7/23 at 8:52 pm to teke184
quote:What's going to happen to the political party that proposes tripling tax rates on the "middle class"?
I want “equality” in tax rates, not actual taxes paid. IOW, flat tax percentage.
I mean... a party could do it. Once. Then they'd be out of power. Forever. And the other party would just raise rates like they were.
As I constantly say... incrementalism and culture change is the way.
This post was edited on 5/7/23 at 8:53 pm
Posted on 5/7/23 at 8:54 pm to Taxing Authority
Thank you for bringing up more points!
That was not the only tariff that went into effect.
Love these next ones!
I believe you do not know that it's how Trump negotiated the "Remain in Mexico" policy.
You are correct.
quote:
quote:
The tariffs went into effect in Jan, 2018.
That was the steel tariff, but Turkey was the only one it seemed to care about it.
That was not the only tariff that went into effect.
Love these next ones!
quote:
quote:
May 31, 2019
U.S. threatens 5% tariff beginning June 10 on $346.5 billion of imports from Mexico until illegal immigration across the southern border stops. It would rise to 10% on July 1; 15% on Aug. 1; 20% on Sept. 1; and 25% on Oct. 1.
quote:
May 31, 2019
U.S. threatens 5% tariff beginning June 10 on $346.5 billion of imports from Mexico until illegal immigration across the southern border stops. It would rise to 10% on July 1; 15% on Aug. 1; 20% on Sept. 1; and 25% on Oct. 1.
Whoa, we gotta badass over here!
quote:
June 10, 2019
U.S. “indefinitely suspended” previously announced tariffs against Mexican products, set to begin at a 5% rate in June and gradually rise to 25%.
Or not.
I believe you do not know that it's how Trump negotiated the "Remain in Mexico" policy.
quote:
Art of the deal, amiright?
You are correct.
Posted on 5/7/23 at 8:56 pm to Taxing Authority
quote:
quote:
Business moved here due to tariffs
Businesses moved back because we stopped taxing repatriated profits.
Not the whole picture at all. Many companies announced their move due to tariffs.
The whole picture is that Trump created a way for businesses to not have the tariffs. Move a portion here.
Posted on 5/7/23 at 8:57 pm to frogtown
quote:
You are comparing lawyers opinions to lawyers opinions. Doctors opinions to doctor opinions. I am comparing policy from leading economists to Trump policy. There is a difference. Trump is not an expert.
His economist and advisers are.
He is a business man who deals with these issues on the ground. Not in a class room.
Posted on 5/7/23 at 8:57 pm to ProSoundAdam
quote:Yeah. Those solar panel tariffs were amazing. Except almost everyone got an exemption.
That was not the only tariff that went into effect.
quote:I do. But you're the one claiming tariffs let to the economy's performance. It cant' be both.
I believe you do not know that it's how Trump negotiated the "Remain in Mexico" policy.
I notice you skipped the Chinese non-tariff-tariffs.
Posted on 5/7/23 at 8:59 pm to ProSoundAdam
quote:Well, I can tell you what one company did. They "built" a solar panel manufacturing plant in the US. I think it produced a couple of hundred panels. Maybe. In exchange, they got a tariff exemption. And kept right on importing by the thousands.
Many companies announced their move due to tariffs
I'm no anti-Trumper, but crediting tariffs for the economic performance 2016-2020 is... silly. They never collected enough to make any difference (thankfully)
This post was edited on 5/7/23 at 9:01 pm
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