Here’s How Trump’s Tax Plan Would Affect You

[Certified Financial Group]

Donald Trump’s tax plan was revealed with a message for millions of Americans: “You win!”

Read the rest of the story (http://financialgroup.com/2015/09/30/heres-how-trumps-tax-plan-would-affect-you/).

[Hoosierb4]

My main concern with Trump's plan isn't the fact that the benefits are skewed to benefit those with the highest incomes. It's with the fine print at the bottom of the link where they give the numbers. There it indicates that the cost of the plan would be over $10 trillion over 10 years. That ultimately hurts us all.

[Paper1]

Something for nothing still sells big here in USA

[Dr Winston O Boogie jr]

My main concern with Trump's plan isn't the fact that the benefits are skewed to benefit those with the highest incomes. It's with the fine print at the bottom of the link where they give the numbers. There it indicates that the cost of the plan would be over $10 trillion over 10 years. That ultimately hurts us all.

Trump has said in interviews that he's a cost cutter. He has named several programs in which he intends to reduce costs and improve efficiency to more then make up for the $10 trillion.

The other thing that many articles don't mention is that even though our individual taxes may be decreased, over all, there will be more people working and more companies making higher profits so that revenues to the government will increase.

And if couples making under $50,000 per year will pay zero in taxes, how are benefits skewed to those with the highest incomes?

In my opinion it's better then what we have, but still no the way to go. We should transition over to The Fair Tax. Pass the Fair Tax | FAIRtax.org (http://www.fairtax.org)

[outlaw]

My main concern with Trump's plan isn't the fact that the benefits are skewed to benefit those with the highest incomes. It's with the fine print at the bottom of the link where they give the numbers. There it indicates that the cost of the plan would be over $10 trillion over 10 years. That ultimately hurts us all.

It's a $10 trillion loss based on static accounting, which doesn't take in to account the increased revenues resulting from American citizens having more money in their pockets to spend and invest, thus stimulating/growing the economy. A bigger economy means more tax revenue. Would you rather get 10% of $100, or 1% of $100,000?

[outlaw]

My biggest issue with the tax plan is that too many people will have no skin in the game. Voters that pay no taxes to fund the government budget will tend to vote for more government services. At least Ben Carson's tax plan has everyone paying something into the system.

[Bogie Shooter]

It's a $10 trillion loss based on static accounting, which doesn't take in to account the increased revenues resulting from American citizens having more money in their pockets to spend and invest, thus stimulating/growing the economy. A bigger economy means more tax revenue. Would you rather get 10% of $100, or 1% of $100,000?

Haven't we heard that old "grow the economy" BS before? How did that work the last time?

[Dr Winston O Boogie jr]

Haven't we heard that old "grow the economy" BS before? How did that work the last time?

It worked great. We had the longest period of economic growth in our country's history. The problem was that the more they get, the more they spend. So even though revenues continued to grow from 1982 until the mid 90s, spending increased at a higher rate.

Of course the problem with what any of these guys say is that they are not dictators. They still have to work with congress. Congress loves to spend. They love to "bring home the bacon" as Ted Kennedy was very fond of saying. It's what keeps getting them re-elected. A president can do whatever he can to grow the economy but he doesn't have a lot of control over spending. All spending is done by congress.

[rubicon]

:popcorn:

There is never going to be a tax plan passed that will benefit the middle class. Some way, any way and every way they can the rich will force a carve out or find an accounting rule to avoid taxes. They will because they can. Romney's 47% will continue and gain in entitlements because they can? Politician will structure tax plans that help them escape taxes and garner them votes.

So all the tax plans being touted right now by Trump, Bush, Rubio are all bluster because not one of them as president will get a plan passed. They won't because Congress is too divided both between parties and within their respective party and in my view GOP has the bigger intra-party ideological gap. Then you have to factor in the FED which in my view should all but disappear from the American landscape

I discount just about every promise a candidate makes. its all bluster.

Beside, time is a major dynamic and has a way of radically changing the political landscape.

Political candidates promises are all about well (Seinfeld's nothing)

[outlaw]

Haven't we heard that old "grow the economy" BS before? How did that work the last time?

I'm guessing that you disagree with my theory?

[MarkinMd]

To make the article more accurate I would like to see at what percentage of income taxes collected comes from which income tax group. That would be very relevant.