Tax cuts are bad because Trump will get a cut too...

[Bob the Citronaut]

It is all about huge multinationals, Bob. Tax breaks that actually benefited small businesses would be beneficial. Tax breaks for multi national corporations who are currently making record profits and holding record amounts of cash will not be beneficial to anyone but them.

Tax cuts will benefit all companies. It will benefit all workers. Stop trying to turn this into class warfare. Tax cuts will be good for everyone and every company.

 

[KnighttimeJoe]

Lol leave it to Joe to give chemmie a reach around.

Taxes paid are taxes paid. You can't simply ignore taxes that you don't like or think should count and then declare they didn't pay tax.

I'd prefer that our corporate tax rate was 0%. It should be. It would create wealth but instead, our politicians have created an unsustainable vortex of enticements that will drown us in 10 years or less. And now the left wing talking point is that we need evil corporations to continue paying the highest tax rate in the world.

Sorry snowflakes. You're losing this one, while the country wins.

Well I wouldn't have to if you weren't such a vadgey snowflake. Pathetic!

 

[UCFKnight85]

Tax cuts will benefit all companies. It will benefit all workers. Stop trying to turn this into class warfare. Tax cuts will be good for everyone and every company.

One would have to actually have an idea about economics to understand that.

COMPANIES ARE EVIL; PROFIT IS BAD!!!!

 

[chemmie]

One would have to actually have an idea about economics to understand that.

COMPANIES ARE EVIL; PROFIT IS BAD!!!!

Unfortunately, we have history to back us up. This has been tried twice already and hasn't worked. What it has created is a huge wealth gap and concentration of wealth only at the very top. Maybe one day you and Bob will stop being wannabe economists and start being history majors who rely on facts rather than flawed theory.

 

[Bob the Citronaut]

And it has always worked. JFK and Reagan tax reform both spurred growth for decades.

 

[Great2BAKnight2]

It is all about huge multinationals, Bob. Tax breaks that actually benefited small businesses would be beneficial. Tax breaks for multi national corporations who are currently making record profits and holding record amounts of cash will not be beneficial to anyone but them.

The pass through changes will likely benefit small businesses. It would prevent sole-proprietors and LLCs from having to pay their individual tax rate on business profits and instead pay a flat 25%. I say "likely benefit" instead of "will benefit" because the changes to the individual tax rates along with where the brackets land has an affect on the positives of this change.

 

[UCFKnight85]

They're going to have to insert that extra 4th top marginal rate bracket. For one, it will get at least 5-6 D Senators to jump on who have to face red state 2018 elections, and two it will make the math more viable in terms of impact on deficits. The amount of growth needed could be revised down.

I would just leave the 4th bracket at where it's at now- 39.6%. Doing away with loopholes will actually slightly increase the burden. I would also move the threshold of this bracket to $1M or more. There is absolutely no reason to be taxing people making $250K the same as a guy making $30M a year.