Talk of The Villages Florida - Adding "just" $1.5 trillion to the Federal deficit

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- - Adding "just" $1.5 trillion to the Federal deficit (https://www.talkofthevillages.com/forums/villages-florida-political-talk-88/adding-just-1-5-trillion-federal-deficit-249314/)

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

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Quote:

Posted by Guest

The Trump-Republican tax plan would eliminate numerous deductions designed to help middle-class families, but protects write-offs that benefit the top one percent and wealthy corporations. Trump himself has used many of these deductions to pay little or no taxes over the years. Here are a few:
1) The bill keeps a loophole that golf-course owners use reduce their tax burden. By claiming the course is a conservation project, owners can save millions of dollars on their taxes. Trump uses the benefit at his clubs in New Jersey and Florida.
2) Loopholes that benefit real-estate developers are also untouched. Under the plan, developers like Trump would still be able to deduct their interest expenses on multi-million dollar commercial loans.
3) On the campaign trail, Trump said he’d close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers." But his tax bill still retains the “carried interest” loophole that benefits Wall Street private-equity and hedge fund partners. Real estate developers also frequently to take advantage of this tax trick.
If you're rich like Donald Trump this plan protects your favorite deductions, lowers your taxes even further, and creates news loopholes. But if you're middle-class or poor the plan would eliminate deductions, increase your taxes over time, and make it harder to claim other benefits. It's a complete sham.

I don't think they want us owning our homes any more...I think they want to own them and have us pay rent to them. They are making it impossible for the new generations to buy a house...and they're waiting for us to die off to get ours. Half the lower income homeowners will not be able to afford their houses if this is cut...it's $ thousands a year. New buyers will no longer be able to afford it. Agree? Or is it not that much of a big deal to most people?

WHOM exactly do you think Trump works for? YOU? Ha! He works for THEM...people like himself...businessmen out for profits...out to rob the treasury.

Quote:

Posted by Guest

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

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Where was YOUR outrage when your boy Obama was doubling the debt by adding $10 TRILLION...!?

Quote:

Posted by Guest

The Trump-Republican tax plan would eliminate numerous deductions designed to help middle-class families, but protects write-offs that benefit the top one percent and wealthy corporations. Trump himself has used many of these deductions to pay little or no taxes over the years. Here are a few:
1) The bill keeps a loophole that golf-course owners use reduce their tax burden. By claiming the course is a conservation project, owners can save millions of dollars on their taxes. Trump uses the benefit at his clubs in New Jersey and Florida.
2) Loopholes that benefit real-estate developers are also untouched. Under the plan, developers like Trump would still be able to deduct their interest expenses on multi-million dollar commercial loans.
3) On the campaign trail, Trump said he’d close “special interest loopholes that have been so good for Wall Street investors but unfair to American workers." But his tax bill still retains the “carried interest” loophole that benefits Wall Street private-equity and hedge fund partners. Real estate developers also frequently to take advantage of this tax trick.
If you're rich like Donald Trump this plan protects your favorite deductions, lowers your taxes even further, and creates news loopholes. But if you're middle-class or poor the plan would eliminate deductions, increase your taxes over time, and make it harder to claim other benefits. It's a complete sham.

Actually, under this plan, the top ten percent of wage earners would pay more in taxes which is why many conservatives don't like it.

Quote:

Posted by Guest

There should be so much Republican outrage with a plan that increases the deficit period. How many times did we hear the whine of that song?

Sent from my VS995 using Tapatalk

Under this plan, revenues to the government will increase. This idea of adding to the deficit is utter nonsense. I don't understand why the CBO is still in existence. They are wrong far more often than they are right. Their assessments are based on a static economy. They do not take into consideration, the growth of the economy when the score a bill.