.. GOP tax plan will save Trump and his family more than $1 billion ..

[charley]

Trump and his family will save more than $1 billion under a tax proposal ​

passed by House Republicans

on Thursday, according to an ​

analysis commissioned by NBC News

.

Most of the savings Trump and his heirs would see would come from the measure's repeal of the estate tax .
The analysis was based on Trump's estimated net worth and his 2005 tax return, the only such return made public thus far. It found that the president could save more than $20 million himself, while his heirs could save $1.1 billion.​

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Based on the analysis of Trump's 2005 return, the president would also save a considerable amount of money under the House bill's repeal of the Alternative Minimum Tax.​

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Trump has refused to release his personal income tax returns, meaning that more up-to-date information is not available .​

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[meanstreek]

trump making money

god love trump

trump is god

 

[Arnold]

Well seeing that the top earners pay the majority of taxes in this country of course they're savings will be bigger than yours.

The top 10 percent of income earners, those having an adjusted gross income over $138,031, pay about 70.6 percent of federal income taxes.

 

[charley]

As for the federal tax system overall, Trump's own words show he has no plan to address the deep structural problems in the federal tax system, created by the political donor class trading campaign contributions for tax favors.

Trump would do nothing to change rules that convert the burden of federal taxes into a profit center for multinational companies and some wealthy individuals, including himself. What Trump's words show is that he wants massive new tax breaks for those at the very top, especially himself, with only a dollop of tax savings for the vast majority.

Overall ​

Trump's tax plan would add $7.2 trillion to the federal debt in the first decade

, the Tax Policy Center estimated, using its computer model, which has proved reliable in past projections.

Don't Be FooledTrump wants tax savings for himself and the swamp people he promised to drain right out of the nation's capital. Now that he is in office, Trump is trying to turn Washington into a tax paradise for himself and other very rich people, a paradise the rest of us will be taxed to pay for unless we demand better.​

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[Arnold]

What did Obama do in his 8 years to fix the tax code Chuck?

 

[charley]

What did Obama do in his 8 years to fix the tax code Chuck?

.... trumpski ain't fixing shit, just ripping off hard working Americans..

 

[charley]

What did Obama do in his 8 years to fix the tax code Chuck?

,, I've never seen such hatred in this country... republicans embracing politicians who are pediphiles , the right has no morality... #sad​

 

[Arnold]

.... trumpski ain't fixing shit, just ripping off hard working Americans..

He is fixing all kinds of shit and it's only been 10 months. Come on Chuck pay attention to what's really going on.

I guarantee you will not here any truth from people like Anderson Cooper who I am sure you would love fuck.

 

[Watson]

America is being double anal fisted by Trump and there is only like 11 people who can see it....funny shit

 

[charley]

.... Chuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is Gay ain't fixing shit, just ripping off hard working Americans..

.... so that's the way it is ... because you got the power to rewrite my posts you use it.... you know you're a piece of shit rob... so Chuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is Gay...

 

[charley]

America is being double anal fisted by Trump and there is only like 11 people who can see it....funny shit

prince is highjacking my posts,,, he's a fucking asshole

 

[charley]

He is fixing all kinds of shit and it's only been 10 months. Come on Chuck pay attention to what's really going on.

I guarantee you will not here any truth from people like Anderson Cooper who I am sure you would love fuck.

... you're such a pussy... you got no balls at all..

 

[Arnold]

.... so that's the way it is ... because you got the power to rewrite my posts you use it.... you know you're a piece of shit rob... so Chuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is GayChuck Is Gay...

I am not doing it.

 

[Arnold]

America is being double anal fisted by Trump and there is only like 11 people who can see it....funny shit

 

[Swiper]

Well seeing that the top earners pay the majority of taxes in this country of course they're savings will be bigger than yours.

The top 10 percent of income earners, those having an adjusted gross income over $138,031, pay about 70.6 percent of federal income taxes.

And over 45% of Americans don?t even pay federal income tax.

 

[Arnold]

And over 45% of Americans don?t even pay federal income tax.

Chuck and Libtards do not want to hear any facts or real data unless it fits their narrative.

 

[charley]

Chuck and Libtards do not want to hear any facts or real data unless it fits their narrative.

...... you're so lost... ..

 

[seabiscuit hogg]

.... trumpski ain't fixing shit, just ripping off hard working Americans..

68% of tax cuts are from the middle class. You don't really believe libtard talking points do you?

 

[Arnold]

68% of tax cuts are from the middle class. You don't really believe libtard talking points do you?

Yes, he really does believe them.

 

[charley]

Yes, he really does believe them.

... if you make under $75,000 a year , your taxes are going up.. so where does the so-called 'middle class' begin ??,,, $100,000 to $250,000 is the new middle class ???
.. tell us Rob... you pretend to know what you're talking about... ....

 

[Arnold]

... if you make under $75,000 a year , your taxes are going up.. so where does the so-called 'middle class' begin ??,,, $100,000 to $250,000 is the new middle class ???
.. tell us Rob... you pretend to know what you're talking about... ....

IDK but I make a lot more than $75k a year.

 

[charley]

IDK but I make a lot more than $75k a year.

.....that's my point... you don't give a shit, so why should you care ?? so you say' fuck the majority of Americans, struggling to maintain' ... maybe they can pray to god for help.. of course it's a different god than the poor have... only the best for the rich !!!!!!!!!!!!!!!

 

[Arnold]

.....that's my point... you don't give a shit, so why should you care ?? so you say' fuck the majority of Americans, struggling to maintain' ... maybe they can pray to god for help.. of course it's a different god than the poor have... only the best for the rich !!!!!!!!!!!!!!!

Of course I care, the more money the middle class has the more products I sell.

 

[seabiscuit hogg]

... if you make under $75,000 a year , your taxes are going up.. so where does the so-called 'middle class' begin ??,,, $100,000 to $250,000 is the new middle class ???
.. tell us Rob... you pretend to know what you're talking about... ....

Bullshit
http://www.businessinsider.com/trump-tax-plan-take-home-pay-2017-9

 

[charley]

Of course I care, the more money the middle class has the more products I sell.

..... the middle class will have less money to give you after trumpski gives rich people a 'big chunk'... trump is giving money to the 'swamp'..

..... the burden of so-called tax relief will be on the shoulders of the working class

 

[botamico]

None of this shit would've never happen if Joe Pesci was president. Anybody going against what he wants would get straighten out with a baseball bat!

 

[Swiper]

... if you make under $75,000 a year , your taxes are going up.: ....

that?s a broad statement. how so?

 

[Arnold]

that?s a broad statement. how so?

no its just another libtard lie and Chuck believes them all, he is not going to read the bill or do any of his own research, instead he will listen to the brilliant democratic leaders.

 

[charley]

no its just another libtard lie and Chuck believes them all, he is not going to read the bill or do any of his own research, instead he will listen to the brilliant democratic leaders.

.... you are the least reading chump here...

America's rich have gotten richer for decades, while the middle class and poor have seen meager gains. Since the mid-20th century, the top 1 percent have ​

more than doubled

their share of the nation's income, from less than 10 percent to more than 20 percent.

Donald Trump ​

said he was going fix it

that he would represent the forgotten men and women, the people who had been left behind in this widening of income inequality.

But the tax overhaul his Republican Party passed through the Senate early Saturday morning would make America's income inequality worse. Maybe a lot worse, economists say.

The bill is investing heavily in the wealthy and their children by boosting the value of their stock portfolios, creating new loopholes for them to avoid tax on their labor income, and cutting taxes on massive inheritances, Lily Batchelder, a New York University professor who worked as an economist under President Barack Obama, said. At the same time, it leaves low- and middle-income workers with even fewer resources to invest in their children, and increases the number of Americans without health insurance.

The centerpiece of the Republican tax plan is a massive corporate tax cut, from 35 percent to 20 percent, which is expected to disproportionately benefit the wealthy. Shares of stock in the businesses that pay corporate income are mostly owned by the wealthy, and the top executives whose compensation packages are linked to stock market performance are also much richer than the average American. So the bill's cut in the corporate tax rate is going to help them the most.

It would also overhaul the individual tax code in a way that almost every independent analysis has shown would direct most of the benefits to the wealthy. In 2019, a person in the bottom 10 percent gets a $50 tax cut and a person in the top 1 percent gets a $34,000 tax cut.

Other provisions, like rolling back the estate tax, are unambiguous giveaways to the richest Americans.

It exacerbates preexisting and longstanding trends, rather than aiming to partially compensate for them, William Gale, co-director of the Tax Policy Center who served as a senior economist under President George H.W. Bush, said.

At the same time, millions of poor and middle-class people are expected to see their taxes either stay the same or actually increase in the long run. Right away, the groups getting the biggest cuts are toward the top of the scale, according to the nonpartisan


If you fast-forward to 2027, the picture is much grimmer. Senate Republicans are allowing many of the individual tax breaks to expire in 2026 to meet the Senate budget rules, banking on a future Congress extending them. But that leaves the more regressive corporate tax cuts as the bill's dependable legacy. As written, by 2027 the law's results are shockingly unequal:

And by repealing Obamacare's individual mandate, an estimated 13 million fewer Americans are expected to have insurance and federal spending on Medicaid and other subsidies would drop.

The clear story of the Republican tax plan is that it takes the wheel of America's already-dramatic income inequality and presses the accelerator.

This is a group that will benefit greatly from the Republican tax bill because it slashes the corporate tax rate, cuts taxes for pass-through? businesses, lowers the top individual tax rate, and includes other provisions like rolling back the estate tax on large inheritances.​

The bill makes the economic playing field even more tilted toward the most fortunate, Batchelder said, which means over time the distributional effects of the bill will be even worse than these estimates suggest.The corporate tax cut in particular, the nonnegotiable centerpiece of the bill, will benefit the wealthy, who earn far more of their income from business and investments than other Americans.

This is why most of the money earned through pass-through businesses goes to the top 1 percent, including the Trump Organization. Those businesses would also see their taxes cut under the Republican tax bills.

But the Republican tax bill, despite Trump's promises to present the forgotten Americans, doesn't do either of those things.

Instead, it would dramatically reduce taxes on corporations and pass-through businesses, where most of the money is with the top 1 percent, would also get a big tax cut. The bill's individual tax cuts would largely benefit the wealthiest people, while the poorest Americans could actually see a tax ​

increase

eventually under the GOP plan.

Republicans want to end tax breaks for students and universities. The bill will increase the federal deficit, which will put pressure on future Congresses to cut spending on programs that benefit the poor and middle class. States and cities, with the end of the federal tax deduction for their taxes, could cut also programs and hike their taxes in such a way that they hit people with lower incomes. Republicans are also rolling back the estate tax, which will help the wealthiest families remain permanently at the top.​

 

[Arnold]

please Chuck stop copying and pasting the fake news here.