- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Trump Tax Plan Thread - Stream is over (Cliff's in OP)
Posted on 4/26/17 at 9:44 am
Posted on 4/26/17 at 9:44 am
With Trump's plan being released today there's sure to be lots of opinions, drama and economic results discussions that range from boom to bust.
Saving the admins some heartache by starting a thread to discuss it all here instead of 20 threads.
First up: The upcoming cut of the corporate tax rate from 35% to 15% and being balanced by the cutting of (as yet unnamed) loopholes.
Query to the Poli crowd: Will this be enough to stem inversions? If not, what more would need to be in the tax plan?
***EDIT***
Plan should be released around 1:30pm EDT today, will post link(s) when they become available.
***EDIT2: The Sequel***
Streaming Link
Specifics:
--Personal Tax Reform
----Taking current 7 tax brackets and reducing them to 3: 10%, 25% & 35% (income ranges to be determined)
----ZERO tax rate for first 24k a couple earns
----Repeal AMT
----Top Cap Gains rate to 20% (possibly 28, phone rang right as he said it)
----Repeal Inheritance tax
----Eliminating most tax breaks (home ownership/mortgage interest & charitable giving excluded)
--Business tax reform
----Corporate rate drops from 35% to 15%
----One-time tax on overseas profits (rate for this repatriation is up for debate with Congress)
----Businesses of all size eligible for new rate
----Territorial tax system (taxing businesses only on income made within the US, simplifies taxes for businesses)
Saving the admins some heartache by starting a thread to discuss it all here instead of 20 threads.
First up: The upcoming cut of the corporate tax rate from 35% to 15% and being balanced by the cutting of (as yet unnamed) loopholes.
Query to the Poli crowd: Will this be enough to stem inversions? If not, what more would need to be in the tax plan?
***EDIT***
Plan should be released around 1:30pm EDT today, will post link(s) when they become available.
***EDIT2: The Sequel***
Streaming Link
Specifics:
--Personal Tax Reform
----Taking current 7 tax brackets and reducing them to 3: 10%, 25% & 35% (income ranges to be determined)
----ZERO tax rate for first 24k a couple earns
----Repeal AMT
----Top Cap Gains rate to 20% (possibly 28, phone rang right as he said it)
----Repeal Inheritance tax
----Eliminating most tax breaks (home ownership/mortgage interest & charitable giving excluded)
--Business tax reform
----Corporate rate drops from 35% to 15%
----One-time tax on overseas profits (rate for this repatriation is up for debate with Congress)
----Businesses of all size eligible for new rate
----Territorial tax system (taxing businesses only on income made within the US, simplifies taxes for businesses)
This post was edited on 4/26/17 at 1:13 pm
29
Posted on 4/26/17 at 9:57 am to Bard
quote:
Query to the Poli crowd: Will this be enough to stem inversions? If not, what more would need to be in the tax plan?
Unfortunately none of this will matter, because it will never make it through Congress.
Posted on 4/26/17 at 10:01 am to Bard
I will never understand how the plant baws in the poli board can have such conviction in their assessment of how a tax law will be good or bad when there are thousands of CPAs still trying to figure it out
Yuuuuup there we go
quote:
This. It could be the greatest tax plan ever proposed, and the Uniparty will wipe their crony asses with it
Yuuuuup there we go
This post was edited on 4/26/17 at 10:04 am
Posted on 4/26/17 at 10:01 am to TigerFanatic99
quote:
Unfortunately none of this will matter, because it will never make it through Congress.
This. It could be the greatest tax plan ever proposed, and the Uniparty will wipe their crony asses with it.
Posted on 4/26/17 at 10:11 am to TigerFanatic99
quote:
Unfortunately none of this will matter, because it will never make it through Congress.
If it doesn't, Trump should publicly out and shame every GOP member of Congress that votes against it, both right after the vote and when they run for re-election.
The ACA repeal/replace was bad enough. Voting against something like that big of a tax reduction on the corporate rate would be inexcusable.
Posted on 4/26/17 at 10:14 am to Bard
What time will this plan be released?
Posted on 4/26/17 at 10:16 am to Bard
quote:
If it doesn't, Trump should publicly out and shame every GOP member of Congress that votes against it, both right after the vote and when they run for re-election.
Why? What if his tax plan sucks? They should vote for it anyway?
Posted on 4/26/17 at 10:18 am to Haughton99
quote:
Why? What if his tax plan sucks? They should vote for it anyway?
I'm going on the assumption that it's better than what we currently have (which is part of what he campaigned on). If it sucks then the onus is on him.
Posted on 4/26/17 at 10:20 am to Bard
quote:
there's sure to be lots of opinions
Reps - greatest tax thing ever
Dems - the US is doomed
Posted on 4/26/17 at 10:26 am to LSUneaux
quote:
What time will this plan be released?
It appears the President will leave the actual reveal to the Treasury Secretary (Steven Mnuchin) and the National Economic Director (Gary Cohn) during the White House press briefing this afternoon (around 1:30pm EST).
This post was edited on 4/26/17 at 10:27 am
Posted on 4/26/17 at 10:33 am to Bard
You mean 1:30 EDT, not EST.
Posted on 4/26/17 at 10:34 am to LSUneaux
I bet it's gonna suck arse.
Posted on 4/26/17 at 10:34 am to Bard
So is it at 12:30 EDT?
Posted on 4/26/17 at 10:35 am to LSUneaux
quote:
You mean 1:30 EDT, not EST.
Corrected. Thanks
Posted on 4/26/17 at 12:14 pm to Bard
Bump to include the link. Should be starting in about 15 minutes.
Posted on 4/26/17 at 12:38 pm to Bard
andherewego.gif
Posted on 4/26/17 at 12:41 pm to Bard
quote:
BREAKING: Trump tax plan cuts top income tax rate from 39.6 to 35 percent, doubles amount taxpayers can deduct.
Posted on 4/26/17 at 12:42 pm to Bard
"Americans are sick of turning over paychecks to Washington"
--director Cohn
--director Cohn
Posted on 4/26/17 at 12:44 pm to Bard
Cut the rate and broaden the base... nearly everyone agrees this is good tax policy.
Lets see why the R's and D's both oppose it.
Lets see why the R's and D's both oppose it.
Posted on 4/26/17 at 12:44 pm to NC_Tigah
quote:that's it?
Trump tax plan cuts top income tax rate from 39.6 to 35 percent,
Page 1 of 10
Back to top
Follow TigerDroppings for LSU Football News