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Remind me, why do anti Trumpets hate his tax plan?

Remind me why crookedteers dislike this based tax cut?

Corporate tax rates should be 0% and personal tax rates 20% to 60% with a $14K per person standard deduction. Healthcare costs should be 100% deductible.

What Trump is proposing is not equitable.

Now Mnuchin is warning Congress will be responsible for a 'substantial' stock market decline if this tax bill fails to materialize. The coming stock market decline will be the fault of Congress. LMAO

Quote:

Originally Posted by mineistaken (Post 22041487)

Remind me why crookedteers dislike this based tax cut?

remind me how he refinance that :-)

there is only ONE point in what he said correct:

bringing back profits made offshore without paying tonns of taxes on that.

there are indeed a few trillion dollars on offshore bank accounts what could not go back because this money would be taxed again in USA.

that will help for a moment but after it is there these bank accounts are empty and with the foreign policy of trump there is a big chance that they won´t filled up again.

this ONE point in his statement would make sense if trump would not go a protectionist way. or do you think that foreign countries let american companies make profit in their countries but their exports to US get blocked by high duties?

his problem is the same problem as the one of all his supporters: he focus on one little wheel in the machine but does not understand the whole machine.
take one little wheel out of a watch and the watch will stop.

to understand economy you have to understand the machine and not one wheel.

Quote:

Originally Posted by mineistaken (Post 22041487)

Remind me why crookedteers dislike this based tax cut?

WTF you care ... you have nothing in the US ... niet , nada, fuck all ....

https://pbs.twimg.com/media/DMdcjDmU8AI0_4-.jpg:small

Until income of non-resident real persons (read:corporate entitles earned income from foreign active business operations (not affiliate earnings -- earned commissions)) is repatriated from offshore interests/entities owned it is not subject to US taxes.

Quote:

To provide external validation of our framework and establish a basis for assessing counterfactual policy, we compare our model predictions from a tax holiday with evaluations of the AJCA in the literature.
We find that our model captures the key empirical findings surrounding the AJCA.
We thus exploit our framework to evaluate the impact of leading repatriation tax reform proposals.
In particular, we consider two proposals.
The first is a permanent elimination of repatriation taxes (a territorial tax system).
The second is a permanent reduction in U.S.corporate income tax rates.
Currently, repatriation tax rates are set as the difference between U.S. and foreign income tax rates of the firm.
As the top U.S. marginal corporate income tax rate is the highest in the OECD, a reduction in U.S. corporate income tax rates indirectly lead to a fall in repatriation tax rates.
For both of these policy proposals, we find that the long-run costs in terms of tax revenue are large, while the gains in employment and investment are relatively low.
Again, when firms are able to substitute debt for repatriated income, a firm’s domestic operations are able to operate close to their efficient scale regardless of repatriation tax rates.
As a result, a fall in repatriation tax rates have a relatively small impact on the scale of a firm’s operations, but rather leads to a tax windfall for shareholders at the expense of U.S. tax revenue.

http://lamacro.davidson.edu/wp-conte...ly-6056151.pdf

I think a repatriation tax holiday is still included in the bill.

Taxes paid on foreign income are applied toward taxes on repatriated income by treaty.
Most people do not understand what is being proposed in Congress now.

Bottom line: There may be a $6 trillion reduction pd IRS revenue to the US government. Any savings to persons with an AGI of less that $60K are going to be minimal.

Quote:

Originally Posted by directfiesta (Post 22042551)

WTF you care ... you have nothing in the US ... niet , nada, fuck all ....

I care for exposing crookedteers as the people who would hate a good plan just because it was Trump who proposed it.

Understandable enough for you?

Quote:

Originally Posted by Barry-xlovecam (Post 22042545)

Corporate tax rates should be 0%

That is surprising suggestion coming from the left. :2 cents: