Not that I really give a shit to see his tax returns, but he did state that he would share them immediately after the audit was complete. So, this now becomes yet another Trump flip-flop? I can't keep up. This guy's becoming the Republican version of John Kerry.
That's really the biggest issue I have with him not releasing them. It's something he said he would do, and has promptly reneged and even ensured that they'll never be available via Congress. I really don't think there's anything in them that is illegal or improper, but it's pretty obvious he's hiding something.
um read my whole statement, the standard deduction DOUBLED which means most will actually pay less taxes. This isn't just a tax cut on the rich like repubs usually like to do, this is a major tax cut across the board. Since most do not even itemize or qualify to itemize the standard deduction doubling gives a tax break to the vast majority of tax payers. Revenue will not increase, it'll decrease dramatically.
This would be huge for the economy. I know my company hires a lot of developers in India, because they have tons of capital stuck over there.
I guess you are right and we'll have to wait and see. Anything is possible. I didn't say hed "spend a ton" I said if he keeps spending like he wants. Basically, he isn't cutting spending (just moving it from one pot to another) but he is potentially cutting tax revenue dramatically. I am concerned the deficit will explode under this reform but will wait to see how his tax plan and budget get passed before assuming.
agree with you but I actually like keeping the charity and mortgage deductions. I think the mortgage industry lobbyists fought hard to keep that deduction around.
So you're saying the recession and wars were paid for prior to Obama taking office?
You're an idiot. We already had a 5% repatriate tax in 2004, and it was a failure.
I would hope so, but lots of estates used donations to get the estate under the threshold for the death tax. With the repeal of the death tax, I fear that estates won't try to do that any longer and simply pass the money down to the next generation.
I read posts like this and I just shake my head at how f'king stupid people actually are and yes, Boston, I"m calling you F'ing stupid. First Trump has been in office less than 100 days and he inherited the most divided government in modern history. In his short time in office he has actually tried to work with both sides. Trump has signed executive orders reducing regulations, added rules that require the social security administration to share disability records with ATF for background checks, added a lifetime ban on white house officials becoming lobbyist, he sticking to his promises on immigration, rebuilding a military that can't use half the planes they own because of missing parts, moved the Keystone pipeline forward, reigning in the EPA and the education department and freezing all federal hiring.
Sometimes yes, sometimes, no. Some estates have large volumes of unrealized gains, especially those with large amounts of property or investments held for a long time. Those capital gains most likely have never been taxed, and if simply transferred to the next generation, could possibly never be. The idea of the estate tax was to prevent the pooling of wealth by those not involved in the labor force - essentially preventing modern feudalism - to limit the number of people who have sovereign wealth without ever having to work for it. Plus, as I mentioned there is a large possibility that removing it would result in a significant drop in charitable giving. However, removing it could result in keeping more money here in the US.
