Trump Tax Reform Would Give Americans More Money To Spend

Trump Tax Reform Would Give Americans More Money To Spend

Internet Taxes

Is there anything wrong with a tax plan that would put more money in the pockets of Americans, money that citizens, and businesses, have earned? The NY Times has found a way

Trump’s Tax Plan: Low Rate for Corporations, and for Companies Like His

President Trump plans to unveil a tax cut blueprint on Wednesday that would apply a vastly reduced, 15 percent business tax rate not only to corporations but also to companies that now pay taxes through the personal income tax code — from mom-and-pop businesses to his own real estate empire, according to several people briefed on the proposal.

They really just can’t help showing their Trump Derangement Syndrome by making it a lede regarding Trump’s businesses saving on taxes. Guess who else who save on taxes? The four article writers, as well as the NY Times! Surprise!

Then we have the Washington Post, which takes a little more realistic and adult approach

Trump plan would raise tax deductions, lower corporate and small business rates

President Trump on Wednesday plans to call for a significant increase in the standard deduction people can claim on their tax returns, potentially putting thousands of dollars each year into the pockets of tens of millions of Americans, according to two people briefed on the plan.

The change is one of several major revisions to the federal tax code that the White House will propose when it provides an outline of the tax-overhaul pitch Trump will make to Congress and the American people as he nears his 100th day in office.

Trump will call for a sharp reduction in the corporate tax rate, from 35 percent to 15 percent. He will also propose lowering the tax rate for millions of small businesses that now file their tax returns under the individual tax code, two people familiar with the plan said.

White House officials think these changes will give Americans and companies more money to spend, expand the economy and create more jobs.

That’s pretty good, wouldn’t you say? Shouldn’t you be able to keep more of the money you earn? Republicans are discussing passing this through reconciliation, since Democrats are apparently not on-board with changing tax law so that citizens keep more of their own money and increase jobs.

Asked whether the 15 percent target was workable, Sen. Sherrod Brown (D-Ohio) told reporters: “It is, if you want to blow a hole in the federal budget and cut a whole lot of things like Meals on Wheels and Lake Erie restoration and then lie about the growth rate of the economy.”

He said that the Trump administration would have to do something “huge” such as scrapping mortgage interest deductions, adopting a border adjustment tax or relying on “outrageously inaccurate projections.”

Obviously, Democrats will scaremonger over having to *gasp* reduce overall federal government spending. And recommend raising taxes on citizens elsewhere. Of course, if people, and companies, are spending more, if more people are working and paying taxes, then more money flows to the government. Perhaps it is time for government to learn to do more with less, to live within its means, like citizens and private entities do.

It’s mostly a well written, rather neutral, informative article, well worth the read.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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