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Presidents tax proposal.
Posted by: TJNFL1 on Apr 26, 19:02
- Would reduce seven tax brackets to three tax brackets: 10 percent, 25 percent and 35 percent. The previous top tax bracket was 39.6 percent.
- Doubles the standard deduction for a married couple to $24,000. This change also means more couples will no longer need to itemize deductions, making the process of filing taxes simpler.
- Repeal 3.8 percent ObamaCare tax “that hits small businesses and investment income.” The repeal of the Affordable Care Act tax comes as Republicans are trying to replace the law all together as part of a massive health care overhaul.
- Lowers business tax rate from 35 percent to 15 percent.
- Institutes “one-time tax on trillions of dollars held overseas.”
- Repeals the estate tax, also known as the “Death Tax,” which applies to the transfer of property of a deceased person.
- Repeals the Alternative Minimum Tax, which was enacted as a penalty on wealthy individuals.
Presidents tax proposal.
TJNFL1
Apr 26, 19:02
New York Times article
TJNFL1
Apr 26, 19:18
yeah that sucks, and i am really going to need to see the income ranges for those tax brackets
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islander
Apr 26, 19:22
Here ya go!
BSmurf
Apr 27, 10:32
thanks. it does say "campaign" plan, versus whats he changed it to since. i still wonder...
islander
Apr 28, 06:26
Those are yet to be released, from what I understand
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RogerMore
Apr 28, 10:39
Tax cuts does not create new Jobs!! Richer will kept the money in the bank
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mike255
Apr 28, 11:44
To create a business which creates jobs, you need capital. Lowering tax rates frees up capital to invest in businesses that create jobs.
TJNFL1
Apr 29, 16:09
Trickle down economics...that's what you believe in? That has been proven to be a failed theory. Greed is good...remember the 80's?
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Catzan
May 08, 11:03
Still need capital to expand a business to create jobs. Taxing something to death just inhibits expansion and job growth. {nm}
TJNFL1
May 12, 10:41
corporations have more than enough capital to do whatever they want. and 35% is hardly "to death". small business could use a break yes
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islander
May 12, 10:48
The issue is that tax breaks do not grow business. Tax breaks grow profits which are not reinvested in the many...but the few.
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Catzan
May 13, 15:02
Trump just give everyone 0 percent tax break. Problem solved
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mike255
Apr 30, 02:33
No income is best
mike242
Apr 30, 22:06
