Tax cuts - what you understand by this term?

[Panmisiek]

Tax cuts are...tax cuts right?

Well not exactly.

To balance books, when taxes are being cut, spending is also being cut no rocket science in it.

So where exactly those spending cuts are going to be made? Infrastructure? Welfare?

OR

Keep spending BUT introduce new taxes.

What's your view?

 

[panamaican]

Tax cuts are very simple to understand. You lower the overall amount of taxes that you require people to pay.

Balancing the books is a completely different subject. People like tax cuts. They appear to be indifferent to balancing the books. They don't like spending cuts that affect them but they do like spending cuts that don't.

 

[Rational Poster]

The tax code needs to change to incentivize corporations to pay their workers fairly.

Some kind of payroll tax credit based on payroll growth.

Something gotta give because they've all gotten together and convinced workers that a 3% annual raise is adequate.

 

[MMAViewer]

Most people on the right don't understand effective tax rate vs stated tax rate and will argue that rich people and corporations pay more taxes than the average worker.
All the while the rich and the corporations pay pennies on the dollar whilr the middle class pays quarters on the dollar. They have no idea that the rich are pissing on their heads calling it trickle down and continue supporting their "tax cuts" for the middle class.
The loop holes and corporate welfare are disgusting while the right wingers claim welfare queens and poor people are getting their money. They vote against their own tax rate out of ignorance while the 1% lobby and bribe the legislation. The trumpets parrot the bs talking points passed along by fox brietbart and am radio hosts while screwing themselves by supporting the rights bs.

 

[rokzilla]

Most people on the right don't understand effective tax rate vs stated tax rate and will argue that rich people and corporations pay more taxes than the average worker.
All the while the rich and the corporations pay pennies on the dollar whilr the middle class pays quarters on the dollar. They have no idea that the rich are pissing on their heads calling it trickle down and continue supporting their "tax cuts" for the middle class.
The loop holes and corporate welfare are disgusting while the right wingers claim welfare queens and poor people are getting their money. They vote against their own tax rate out of ignorance while the 1% lobby and bribe the legislation. The trumpets parrot the bs talking points passed along by fox brietbart and am radio hosts while screwing themselves by supporting the rights bs.

I haven’t seen a single person on the right or left ever try to defend corporations when it comes to taxes, you’re being disingenuous. That’s one area all sides can agree on, they don’t pay their fair share of taxes.

*edit as we agree on the rest of your post for the most part

 

[MMAViewer]

By dropping the corporate tax rate to 20% without addressing corporate welfare and loopholes will put their rate in the low teens or lower in some cases. See GE, and Romney's effective tax rate if you dont believe that.
This is a big reason Trump won't release his taxes.
That and his ties to Russian money would bury him, yet the nut job rightwing posters here defend Trump not releasing his taxes as "he doesn't have to legally release them".

The willful ignorance of the trumpets is astonishing.

 

[MMAViewer]

I haven’t seen a single person on the right or left ever try to defend corporations when it comes to taxes, you’re being disingenuous. That’s one area all sides can agree on, they don’t pay their fair share of taxes.

*edit as we agree on the rest of your post for the most part

The gop plan drops corporate tax rate to 20%
Watch the trumpets support it, how is that disingenuous?

 

[shinkyoku]

I haven’t seen a single person on the right or left ever try to defend corporations when it comes to taxes, you’re being disingenuous. That’s one area all sides can agree on, they don’t pay their fair share of taxes.

*edit as we agree on the rest of your post for the most part

*checking joining date*
Yes, you are new here.

 

[HunterSdVa29]

The gop plan drops corporate tax rate to 20%
Watch the trumpets support it, how is that disingenuous?

Isn't the higher rate (nominally the highest in the world) one of the main precursors to all the companies obtaining loopholes, stashing revenues offshore, etc...

I understand what you mean in that they aren't removing the loopholes and things yet (and probably won't), but this COULD be a good step towards actually ensuring that corps actually pay the nominal rate.

Having a say 35% rate means jack and shit if the largest revenue earners only pay 5

Also the person you responded to was referring to people FAVORING corporate tax exemptions and loopholes, which is literally not a single person I've ever met or encountered IRL or on this site

 

[rokzilla]

The gop plan drops corporate tax rate to 20%
Watch the trumpets support it, how is that disingenuous?

0% of 35% is less than 100% of 20%. Unless I’m missing something?

 

[kpt018]

0% of 35% is less than 100% of 20%. Unless I’m missing something?

If a company is paying zero percent why the hell would they bring money back in and pay 20%?

It only cuts taxes for those who are already paying over 25%.

 

[MMAViewer]

0% of 35% is less than 100% of 20%. Unless I’m missing something?

but it will not be 20% effectively!
That is the starting point and no loopholes or corporate welfare programs are being addressed.

 

[Revolver]

My feeling is that the GOP is just trying to create an even bigger deficit so they can later justify eliminating (or reducing) social security and medicare. These tax cuts don't make any sense.

 

[AGGAMEMNON66]

The tax code needs to change to incentivize corporations to pay their workers fairly.

Some kind of payroll tax credit based on payroll growth.

Something gotta give because they've all gotten together and convinced workers that a 3% annual raise is adequate.

That 3% is a very general number. Lots of places vary % wise depending on circumstances.

 

[MMAViewer]

Isn't the higher rate (nominally the highest in the world) one of the main precursors to all the companies obtaining loopholes, stashing revenues offshore, etc...

I understand what you mean in that they aren't removing the loopholes and things yet (and probably won't), but this COULD be a good step towards actually ensuring that corps actually pay the nominal rate.

Having a say 35% rate means jack and shit if the largest revenue earners only pay 5

Also the person you responded to was referring to people FAVORING corporate tax exemptions and loopholes, which is literally not a single person I've ever met or encountered IRL or on this site

people may not favor tax exemptions for corporations but my point is that the trumpets will ultimately support the gop plan which will not address any of them due to the lobbiest work going on as we speak!
the 1% and the corporations have more say on this bill than any legislator btw.

 

[kpt018]

My feeling is that the GOP is just trying to create an even bigger deficit so they can later justify eliminating (or reducing) social security and medicare. These tax cuts don't make any sense.

I think they definitely would love to eliminate those programs, but they're popular and would be a heavy lift.

My view of this is they're either ignorant that many of the tax cuts are unpopular or they don't give a shit because they're popular with donors. My feeling is these guys are too stupid for some grand strategy like that and power can change hands with a long play like that. Just my sense though, you could be right.

 

[Mark Hunts FIST]

The gop plan drops corporate tax rate to 20%
Watch the trumpets support it, how is that disingenuous?

See Ireland... that's why you lower the tax rate.

You guys are two steps behind the large corps. They move their money offshore to get a better tax rate. Therefore we don't get the full amount of taxes because they're giving it to a different country because our tax rate is so high here.

So the idea is to lower that tax rate to incentivize them to keep the money here and not in country the size of Indiana.

 

[Rational Poster]

My feeling is that the GOP is just trying to create an even bigger deficit so they can later justify eliminating (or reducing) social security and medicare. These tax cuts don't make any sense.

I feel like a lot of people are going to be questioning their decision to vote for Trump if these 401k taxes go through.

A LOT OF PEOPLE.

 

[Rational Poster]

See Ireland... that's why you lower the tax rate.

You guys are two steps behind the large corps. They move their money offshore to get a better tax rate. Therefore we don't get the full amount of taxes because they're giving it to a different country because our tax rate is so high here.

So the idea is to lower that tax rate to incentivize them to keep the money here and not in country the size of Indiana.

http://www.nationmaster.com/country-info/compare/Ireland/United-States/Economy

 

[HunterSdVa29]

people may not favor tax exemptions for corporations but my point is that the trumpets will ultimately support the top plan which will not address any of them due to the lobbiest work going on as we speak!
the 1% and the corporations have more say on this bill than any legislator btw.

corporations have more to say on virtually any bill, from the left or the right...