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Tax plan


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Of course not! His original tax plan was a Heritage-borne atrocity that was essentially a giveaway, predominantly the rich, with no regard for offsetting the cuts. Somehow, it was reportedly actually going to raise taxes on the middle class somehow. But as long as we help out the upper tax brackets and businesses, they won't care, right?

 

Now the choices are a possibly illegal, unpopular border-adjustment plan or a VAT that would require a new way to fund Social Security? The latter definitely needs to be addressed at some point, no doubt. But I doubt the chops of the modern day GOP to thread the needle on this one. Dems aren't going to help them at all if they either A) Try to do another giveaway to the wrong people or B) don't find a proper way to fund Social Security. Simply privatizing it would be a non-starter.

 

If they can pull it off, more power to them. It would be their first real win. Time to put up or fail spectacularly again.

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If it passes, the next recession just moved up its time table.

 

I'm ok with tax reform but not tax cuts. And when Republicans say "tax reform" what they mean, however they go about it, is less taxes for the rich and for corporations.

 

Then after our next recession is fixed they will blame the Democrats for "not fixing it good enough."

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If it passes, the next recession just moved up its time table.

 

I'm ok with tax reform but not tax cuts. And when Republicans say "tax reform" what they mean, however they go about it, is less taxes for the rich and for corporations.

 

Then after our next recession is fixed they will blame the Democrats for "not fixing it good enough."

 

Isn't that the pattern? Republican takes over, deregulates, wrecks the economy, Democrat has to come in and pick up the pieces, gets blamed for poor recovery? Rinse and repeat.

 

Hearing Mnuchin say the cuts will pay for themselves is asinine. Of course they won't. The government is going to take a huge revenue cut, plain and simple.

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If it passes, the next recession just moved up its time table.

 

I'm ok with tax reform but not tax cuts. And when Republicans say "tax reform" what they mean, however they go about it, is less taxes for the rich and for corporations.

 

Then after our next recession is fixed they will blame the Democrats for "not fixing it good enough."

You're not OK with any type of tax cut at all?

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If it passes, the next recession just moved up its time table.

 

I'm ok with tax reform but not tax cuts. And when Republicans say "tax reform" what they mean, however they go about it, is less taxes for the rich and for corporations.

 

Then after our next recession is fixed they will blame the Democrats for "not fixing it good enough."

You're not OK with any type of tax cut at all?

Correct. Whether you look at tax rate or effective tax rate, taxes have pretty steadily gone down, and I don't for a second believe lowering taxes helps the economy. Bush cut taxes and we haven't uncut them (which is part of why it's hilarious how much teeth gnashing we had with Obama).

 

Also, the 35% corporate tax is not the effective tax rate.

 

tax-rate-on-corporate-profits-process-s5

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I would like to keep more money, but that question is orthogonal to whether reducing my taxes (a global policy) leads to globally better outcomes.

 

When it comes to social programs we're very good at asking "how are we going to pay for that?" A similar question should apply to tax cuts. How are we going to finance the cuts, and what are we getting out of that purchase?

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