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The Proposed Trump Tax Overhaul legislation

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  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Business Insider: IT'S HERE: All the details of Trump's massive tax plan

    New York Times: Trump Tax Plan Benefits Wealthy, Including Trump

    New York Times: A Boondoggle Masquerading as Tax Reform

    Here's what Trump and Republicans are saying about their nine page plan:

    "Too many in our country are shut out of the dynamism of the US economy, which has led to the justifiable feeling that the system is rigged against hardworking Americans," the nine-page plan reads. "With significant and meaningful tax reform and relief, we will create a fairer system that levels the playing field and extends economic opportunities to American workers, small businesses, and middle-income families."

    Does the wording sound familiar? It sounds like it was plagiarized out of one of the past Democratic Party playbooks.

    The devil is in the details...and in this case the lack of details and specificity when it comes to the proposed tax brackets.

    Business Insider provides a quick summary breakdown of the plan. The New York Times provides analysis of the plan in the two linked articles.

    Trump and Republicans will push their messaging (propaganda) and Democrats to varying degrees will push back with their own propaganda. I search for objective analyses that could lead to a consensus and compromise, and that's what I hope this thread becomes. What can Dems live with and compromise considering that we do not hold majorities (a real sore point with me and Jared) and cannot dictate terms?

    So what in the plan is a "no compromise" dictum and what can we "compromise" on? That's a real challenge to many on this website. Read the articles and provide objective critical thinking instead of knee jerk emotional tirades.

    The reality is Democrats will have to compromise...that's guaranteed.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Do Democrats have any say at all in this plan? Republicans had no problem trying to pass their health care bill independent of Democrats. Why is this any different?
  • Center Left
    Independent
    Central, FL
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    Over the next day independent "thinkers" will respond with strong opinions. I am looking forward to hearing and/or reading about that. I will repeat what I always say. Poor people will get enough for a large pizza. Wealthy persons will get enough for a yacht. Hopefully those comments will be harsh and balanced.
  • Liberal Democrat
    Democrat
    Kenosha, WI
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    I expect democrats to push back on the tax cuts, they'll mainly help the rich people. One MSM report said it will create $2.2 Trillion more debt. Again, tax cuts put on the backs of the working class and poor people to benefit the affluent.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Chet Ruminski Wrote: Do Democrats have any say at all in this plan? Republicans had no problem trying to pass their health care bill independent of Democrats. Why is this any different?
    And how did that work out for them then?
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    This plan, if passed, would actually be great financially for my wife and I. We don't have kids and don't rely on many of the deductions available for lower income individuals and families. It would also dramatically decrease the percentage of income we would pay in taxes.

    With that said, I could never in good conscious support something like the current framework being offered by Republicans. This plan would add trillions to the deficit and screw over lower and middle-class individuals by revoking many of the subsidies and credits they rely on to survive. Isn't it funny how Republicans only seem to care about the debt and deficit when they aren't in power?

    This current plan is a wolf in sheep's clothing. It will benefit rich people like Donald while screwing over the very people who swept him into office. What's so depressing is that those same people will blame anyone but him if their taxes skyrocket.

  • Center Left
    Independent
    Central, FL
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    Chuck Schumer had some comments about what he calls Wealthfare.

    google.com/amp/freebeacon.com/issues/sc...

  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Reducing the number of tax brackets to three doesn't make much sense to me. Most people don't know or care how many brackets there are. Either the computer calculates your taxes or you just look it up on a table that IRS tables at the back of the 1040 instructions.

    But raising the bottom bracket from 10 percent to 12 percent means the poor are going to be socked harder. And lowering the top bracket to 35 percent means that the rich will pay less.

    Of course we don't know what taxable incomes go with each bracket yet and that's part of the deception. Get people to agree before you know what you're agreeing to. Where have I heard that before.

    Those tax brackets are my non-starters. More later...

  • Liberal Democrat
    Democrat
    Kenosha, WI
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    From Ali Velshi, the bill would keep mortgage interest tax deductions for home owners but it will take away some other deductions, expense deductions for child care, e.g. babysitters or day care while parents are working, and various other deductions that are in place now, if a person is operating a small business, expense deductions like office space, supplies for office supplies, fuel when using own vehicle to conduct their business, and generally any deduction a small business would utilize to operate.

    watch youtube video w/ Ali Velshi

    youtube.com/watch?v=opjViYsT31E

  • Independent
    Washington
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    Schmidt

    Trump and Republicans will push their messaging (propaganda) and Democrats to varying degrees will push back with their own propaganda. I search for objective analyses that could lead to a consensus and compromise, and that's what I hope this thread becomes.

    Thanks for the links. And I agree it gets soooo tiresome to hear BS from both sides because it makes it difficult to make a rational assement without assuming too much and that one side is 99% right , and other is wrong 99%.

    Today, I flipped between MSNBC and FOX News. And of course, MSNBC's regular commentary summarize it as "Taking from the poor, and giving it the rich" and FOX News says its best tax cut in history, and trump should be put on Mount Rushmore. Its equal BS on both sides. I know republicans are not looking to fuck over 90% of the country so the top 10% get a tax break to buy a few more multi-million $$$ vacation homes from their tax return. And I know the tax proposal is not some kind of historic legislation as republicans are telling their base.

    I am looking for unbiased reporting. Sometimes this will mean I might agree with republicans, and other times the democrats. For the most part, when I watch the biased news channels, I feel like I'm reading MAD Magazine's SPY vs SPY; both sides are equally bad\good, and cancel each other out.

  • Independent
    Ft.myers, FL
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    Again the whole thing is an big joke; it is the island mentality here which hampers thought. Do as they do in Europe tax the rich (the 1%) with up to 70% (like France) with a sliding scale so the poor pay the absolute minimum. Reducing the "brackets" is nuts; the more brackets; then it is more honest. It is absurd that people like Trump barely pay any taxes at all. Sorry this country and its leaders still live in the stone age. Reducing corporate taxes certainly will not benefit the poor; the rich will still have their "goodies" imported like their yachts or private planes etc. so other countries benefit; not us.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Dutch -- You've made those points many times, but what I was hoping for is a constructive dialogue on how Democrats can work within the existing make-up of Congress to pass a budget for the fiscal year 2017-2018. Republicans themselves are not in full agreement on the proposed budget, and there is opportunity for the moderates (centrists) in both parties to strike a compromise as long as the far left and far right do not contaminate the atmosphere with shout outs of "no compromise".

    Going into a bipartisan meeting and pushing the virtues of Europe's taxation structure will not win you any points. What we need is critical thinking and acceptance of "progressive incrementalism" when dealing with this Congress. We also need to take the emotions out of it.

  • Independent
    Ft.myers, FL
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    Schmidt Wrote:

    Dutch -- You've made those points many times, but what I was hoping for is a constructive dialogue on how Democrats can work within the existing make-up of Congress to pass a budget for the fiscal year 2017-2018. Republicans themselves are not in full agreement on the proposed budget, and there is opportunity for the moderates (centrists) in both parties to strike a compromise as long as the far left and far right do not contaminate the atmosphere with shout outs of "no compromise".

    Going into a bipartisan meeting and pushing the virtues of Europe's taxation structure will not win you any points. What we need is critical thinking and acceptance of "progressive incrementalism" when dealing with this Congress. We also need to take the emotions out of it.

    Yes I did make those points many times; as long as that does not sink in then this country will never progress in an Democratic way. You can't have a system which only caters to the upper class and have them not paying their fare share. I guess; they love the antique system of Castle Lords and everything else is dirt. Sick!!
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Dutch Wrote:
    Schmidt Wrote:

    Dutch -- You've made those points many times, but what I was hoping for is a constructive dialogue on how Democrats can work within the existing make-up of Congress to pass a budget for the fiscal year 2017-2018. Republicans themselves are not in full agreement on the proposed budget, and there is opportunity for the moderates (centrists) in both parties to strike a compromise as long as the far left and far right do not contaminate the atmosphere with shout outs of "no compromise".

    Going into a bipartisan meeting and pushing the virtues of Europe's taxation structure will not win you any points. What we need is critical thinking and acceptance of "progressive incrementalism" when dealing with this Congress. We also need to take the emotions out of it.

    Yes I did make those points many times; as long as that does not sink in then this country will never progress in an Democratic way. You can't have a system which only caters to the upper class and have them not paying their fare share. I guess; they love the antique system of Castle Lords and everything else is dirt. Sick!!
    The Democratic Party has lost its heart and soul. The status quo party stalwarts are doing whatever they can to stay in the grace of the big money machine. Bernie is generating a lot of interest and support. There will be no denying him in 2020.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Chet Ruminski Wrote: The Democratic Party has lost its heart and soul. The status quo party stalwarts are doing whatever they can to stay in the grace of the big money machine. Bernie is generating a lot of interest and support. There will be no denying him in 2020.

    If Bernie is the candidate in 2020 then the Democrats will lose in a landslide.