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Trump's tax reform

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  • Sledog
    Sledog Member Posts: 31,719
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    Owned and ran an S corp for more than 20 years. All earnings passed through to the individual and taxed at individual rates. Stop making shit up.
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    greenblood said:

    2001400ex said:

    Mosster47 said:

    2001400ex said:

    Mosster47 said:

    greenblood said:

    I would still like to see payroll as a deduction for business. At least create an added benefit for creating jobs.

    Businesses shouldn't be taxed. They create all the jobs.
    The vast majority of corporations are not taxed on income at the federal level.

    HTH
    Right, because of massive write offs and pay outs to executives to sneak away from the outrageous corporate tax rate.

    Then those executives play their own game of mathmatical gymnastics to pay very little in taxes as well.

    I'm not an anti-government guy, but our government is way too fucking big. Only getting 10% of the personal pot would end the bullshit of giving other countries that refuse to get their shit together billions of dollars, wars with no purpose, and having a hand in EVERYTHING.

    10% would cover defense, SS/Medicare, and the VA. The IRS would still exist but with the simplicity of the new code they could function with 25% of their current staffing.

    Actually it's because the vast majority of corporations are LLCs, LLPs, S corps, etc. that are not taxable on income at the federal level.

    And C corps average about 15% because of deductions and stuff with the top tax rate at 35%. Corporations are taxed fairly.

    And the argument that if you cut taxes on corporations they'll hire more people, is FS. If you've ever been in a discussion about whether to hire or fire, it's always about expected demand. Never is it about taxes.
    Lowering taxes does create opportunities for companies to increase capital, and thus open up new avenues of income(new products and services, additional ventures, acquisitions, etc.)
    That's why the tax rate is 35% but the average corporations is closer to 15%. Corporations get tax cuts and credits to stimulate growth over certain things such as research and development. Overall reducing taxes just gives the shareholders more money. Think of it this way:

    If you invest $20 million in a project that you expect to return $4 million a year. Right now you pay 35% on that $4 million so you'll take home $2.6 million a year. If the tax rate was 15%, you'll take home $3.4 million. Does any business ever say no to taking home "only" $2.6 million a year?

    Not to mention that on average corporations are holding a historically large amount of cash. The demand isn't there for additional business to invest in. Consumer confidence and spending is what needs to increase. Not tax cuts.
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    Sledog said:

    Owned and ran an S corp for more than 20 years. All earnings passed through to the individual and taxed at individual rates. Stop making shit up.

    That's the point. It's not taxed at the corporate level. In other words, not at 35%. And you get unreimbursed partnership expenses and get to roll personal vehicles through them.

    But yes I'm making shit up. Lol nice work.
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  • doogie
    doogie Member Posts: 15,072
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    More senseless babble from an anti-American fake news propagandist
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  • Sledog
    Sledog Member Posts: 31,719
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    doogie said:

    More senseless babble from an anti-American fake news propagandist

    I think you meant fake American that's a news propagandist.
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  • UWhuskytskeet
    UWhuskytskeet Member Posts: 7,108
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    Reduce revenues. Reduce deficit. Pick one.
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  • dhdawg
    dhdawg Member Posts: 13,326
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    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
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  • Fenderbender123
    Fenderbender123 Member Posts: 2,902 Standard Supporter
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    Make taxes voluntary. I'm always being told that tax dollars are spent on good things that make life better for everyone, so I'm sure everyone will donate.
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  • Sledog
    Sledog Member Posts: 31,719
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    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    Sledog said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
    Excuses excuses excuses. But with Obama, the huge drop in revenues from the recession has nothing to do with his deficits?

    Fuck you are a tool.
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  • ThomasFremont
    ThomasFremont Member Posts: 13,325
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    Sledog said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
    Bush wouldn't have had to "deal with" the Iraq war if he didn't start it.
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  • Sledog
    Sledog Member Posts: 31,719
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    2001400ex said:

    Sledog said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
    Excuses excuses excuses. But with Obama, the huge drop in revenues from the recession has nothing to do with his deficits?

    Fuck you are a tool.
    The huge increases in welfare, food stamps and other such programs as well as encouraging millions of illegals to enter in hopes of making the Cloward Piven theory work would be one reason.
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    Sledog said:

    2001400ex said:

    Sledog said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
    Excuses excuses excuses. But with Obama, the huge drop in revenues from the recession has nothing to do with his deficits?

    Fuck you are a tool.
    The huge increases in welfare, food stamps and other such programs as well as encouraging millions of illegals to enter in hopes of making the Cloward Piven theory work would be one reason.
    That's the awesome thing about your schtick. The increase food stamps and shit was maybe like $20 billion a year, and they've gone down since around 2013. Not to mention there's been a net migration OUT of the country since Obama took over and way many more illegals have been deported under his watch that Bush.

    But why let facts enter into the conversation.
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  • Mosster47
    Mosster47 Member Posts: 6,246
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    ThomasFremont said:

    Sledog said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    It did and under Kennedy too. Spending increased so that's why deficits increased. Reagan increased defense spending and added star wars etc. (it works) and defeated the Russians without firing a shot. Bush had to deal with 9-11, war and a huge increase in domestic defense spending to protect the country and allow the democrats in congress to spend like crazy to get that stuff approved.
    Bush wouldn't have had to "deal with" the Iraq war if he didn't start it.
    Point, Fremont.
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  • doogie
    doogie Member Posts: 15,072
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    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    Why did it double under Obama?
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  • 2001400ex
    2001400ex Member Posts: 29,457
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    doogie said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    Why did it double under Obama?
    The deficit didn't double under Obama. The deficit decreased faster under Obama than any president in history. It's 1/3 now of what it was in Bush's last year.
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  • dhdawg
    dhdawg Member Posts: 13,326
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    doogie said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    Why did it double under Obama?
    are you lying or do you just truly live in a fact free bubble?
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  • doogie
    doogie Member Posts: 15,072
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    hondoFFB
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  • UWhuskytskeet
    UWhuskytskeet Member Posts: 7,108
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    dhdawg said:

    doogie said:

    2001400ex said:

    dhdawg said:

    UWhuskytskeet said:

    Reduce revenues. Reduce deficit. Pick one.

    but, but, supply side. decrease taxes. economy booms. revenue increases
    That's why the deficit decreased under Reagan and Bush.

    Oh wait.
    Why did it double under Obama?
    are you lying or do you just truly live in a fact free bubble?
    Trump voters don't need to know the difference between deficit and debt.
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