2017 Tax Reform

Individual three brackets (10, 25, 35)
All Businesses (15)
No more death tax or AMT.
Closing all loopholes

What's not to like?

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youtube.com/watch?v=nEpcY5JU120
youtube.com/watch?v=St6ZNHKLiP0&feature=youtu.be&t=214
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Why does this guy look like he's not human? His mannerisms, the weird facial twitches, the cadence and tenor of his speech, it's all very uncanny-valley.

As someone who has paid taxes out the ass, this looks very nice. I'm actually pretty excited about it.

AHEAD OF SCHEDULE, UNDER BUDGET

Would also force the government to cut back on the insane amount of waste

Please make it happen

I missed the speech, but CNN is already bitching and crying there weren't any "real" and "specific" details. Is this true or fake news as usual? Was it not suppose to be an outline?

Bonus is the lowering of capital gains to 20. I don't see anything bad at all.

>we dont care about the deficit anymore

Oh for fucks sake.

I MIGHT BE PAYING MORE TAX SINCE STATE TAXES ARE NO LONGER DEDUCTIBLE REEEEEEEEE

Fake News, speech was to introduce the core of the Tax reform. They stated it multiple time. Not the specific micro-details.

>Closing all loopholes

Impossible. (((Lawyers))) will find some.

>not knowing that Mnuchin is a jew
>not knowing that most jews are lizard people

oh boy, you guys gonna try reaganomics again?
this time without the 80s boom?
shit guys
you krazy

Can't really say much until more details come out. I am definitely in favor of making it all less complicated which this seems to be doing quite well, but it's hard to say at this moment. I also do wonder where the government funding will come from since this seems to be reducing the amount of money the government will be getting.

The IRS and other bloated government institutions are about to get gutted.

Less money for government which will cause them to streamline and get rid of dead weight and stop waste seems good to me.

>What's not to like?

kike

No income levels for tax brackets. Increase deficit. What's considered a loophole and what's a beneficial deduction for the country/people?

It's too fucking vague.

also bets on infighting against between different republican factions when trump just shrugs his shoulders when they demand answers how the hell he is going to budget after this or is he just going to rely on the magical imaginary growth the tax cut is supposed to poof into existence

Yeah which sounds good on paper, but then you have to remember the increased military funding and stuff like the wall. Where are we gonna get all that money from?

The plan essentially assumes that GDP growth will be 3-4% and we'll grow our way out of the deficit issue.

Give discretionary power to judges to determine whether or not a tax loophole has been abused. Done.

They did not specify the income levels, but did state that under 20k woukd be 0%. Also they are going to give a one-time break to repatriate the trillions of dollars that companies are holding overseas.

youtube.com/watch?v=nEpcY5JU120

They always will, I hope it makes it very hard for them though.

USA? Growing 3-4%?
Jesus christ...

GDP growth.

Federal income tax is fucking criminal, IDC where they find money for their BS spending they use to get votes.

There should be no income tax at all

governments need to make their money elsewhere...taxing labour is literally slavery.

>Jesus christ...
What's up? We're at about 2% right now.

Fuck no, pay my salary goy.

Anyone with a fucking brian would realize that this tax "reform" is just another way for drumpf to line his pockets with more gold

The actual math is easy unless you are a brainlet.

It's the deductions, etc which are so time consuming

2% is lot different to 4%
USA tends not to stay above 4% before dipping again

Taxing remittances sent to Mexico. 20%.

You mean it will line every small business entrepreneur and working oerson with gold. Focusing only on one person and not the other 300+ million people in the country. Shill

Don't know, I'm a contrarian fag I must hate it.

I wish it would cut the wasteful spending bullshit. Here is to hoping that they do at least fix some shit to help straighten out the system.

what were the numbers before?, what ranges are the brackets?

They only thing i found annoying is that they didnt define the three brackets. But this was overshadowed by the media constant asking about trumps tax returns instead of tax reform.

>trickle down meme
Man I sure can't wait for that economic crash 6 years from now.

drugs

>individual three brackets
really makes you think

Looking per year paints better picture
Trump is clearly looking for another spike like Reagan got in 80s, but it is easy to be skeptical if that will happen
80s was lot different than the present

>give judges more discretionary power

Shut up retard

Tariffs and their equivalent.

Income tax doesn't even pay for anything anyway. That's a Jewish lie.

Muh Laffer Curve

Jesus Christ, this never fucking works. This mystical GDP growth offsetting reduced taxes has never happened and it never fucking will. Have the Reagan and Bush tax plans have taught you anything? Did anyone remember why HW had to renege on his "no new taxes".

Ballooning deficit incoming, and the government never "streamlines" or "shrinks". I don't know why anyone will still think this will happen.

I like it a lot. Only having two brackets I'd pay into would lower my taxes significantly.

My parents are in the highest middle class tax bracket and my mom alone had to pay $79k in federal income tax this round.
My parents did not come from rich families. My mother's father was an oiler in Pittsburgh and my father's father was a pastor at a church. They earned their wealth.

Aren't they planning on fucking with my 401k?

It's a cycle that completes every 20 years or so. We've been doing it since the early 1800s. Trump's more radical approach will probably accelerate the cycle by a few years (if it even passes).

You forgot the most important one.
>no tax on first 24k for married couples

Just my personal opinion but if you have one and you're not at a point in life where you're already taking money back out or at least using it as collateral then you should probably expect it to be fucked with by somebody before you need to rely on it.

might not help high earners that rely on state tax deductions (depends where you live obviously) and 401k contributions. need to wait for more details

they've said previously that they like the 401k and want to protect it, but at this last briefing they didnt mention if it'd be deductible

The fact that it'll add $1 trillion dollars in deficit per year, and that's accounting for 11% GDP growth which is outrageously high.

Don't forget that Trump did not propose a single net federal budget cut. He just shifted money from other departments into military.

We honestly cannot afford the tax cuts Trump is proposing.

it's a mess

Tax cuts are fine.

Its just the wrong priority.

Multiple conservative think tanks have analyzed Trump's tax plan and determined that even under unrealistic growth conditions that we'll fall well short in revenue and result in extra $1 trillion in deficits per year.

Trump has also promised not to cut entitlements and expand military funding.

It's the single most fiscally irresponsible policy I've ever seen.

>The fact that it'll add $1 trillion dollars in deficit per year
Not even close you fucking retard. We only take in around 3 trillion per year. He is not cutting 1/3 of taxes be real.

laffer curve is somewhat common sense, you just never know where on the curve you are.

Govt revenue actually grew under Reagan tax cuts.

deficit also exploded under Reagan bc we were spending like mad to put the soviet union underground.

Which is why we won't get them in their current, vaguer-than-campaign-promises form, either the tax cuts or his spending shifts to the military. But there's nothing meme-worthy about this, so Sup Forums doesn't give a shit.

@122919182
@122918536
THIS IS THE SHILL RESPONSE. IGNORE THEM.

can't wait to start a senpai now!!

>Pastor at a Church
>Earned there wealth
So one side of your family did real work while the other "worked" for a pedophile cult.

Same here and can't wait for the inevitable WTF I love taxes now posts.

Remember when the entire government was funded by border taxes and income tax didn't even exist?

No, because I'm not 100 years old.

And that's why they get away with scamming you.

There's a new generation born every day and whatever they grow up with is normal and abolishing the institutions they grew up under with is unfathomable.

>you just never know where on the curve you are.

No one does, it's pretty much theoretical and hardly reflective of the reality of macroeconomics. Thank the death of local manufacturing, increase in cheap good productions, and the beginning of computerization for the economic growth in the 80s and 90s.

I'M AN AMERICAN AND I HATE TAX CUTS

>Said no one before 2017

>Multiple conservative think tanks
name one

How is that possible since they stated that for the next 30 days they will be working with Congress to iron out the details and score it. You just got caught in a lie sharblue.

Quite true. One of the potential upsets though is that a fiat currency regime usually doesn't last much longer than a lifetime, so there's potential the institution will abolish itself.

Sad part is the Jews have been adept at making it so essential to the world that the current system is one of the most geopolitically important bargaining chips the US has. But if there's anything good to say it's that even a fucking leaf knows this nowadays whereas it used to be "conspiracy theory" material.

>getting rid of the estate "death" tax
Do you want to consolidate wealth into families? Do you like aristocracies where .01% of the people have 90% of the wealth? Why don't we just bring back royalty and kings and queens and shit if you love getting cucked so much.

He's probably going off of the proposed campaign tax plan. That's the only plan I remember getting any serious scrutiny. But they are going to be different. Still, it wouldn't be unrealistic to expect what's going to happen based on the general frame we know.

Goodbye medicare.

>No offset to cover what will be a massive revenue loss
>e-economic growth will cover it!
Good god it's Laffer and voodoo economics all over again, ie what helped create the dogs hit economy in the early 80s we forget about. And apparently Trump is drafting an executive order to withdraw from NAFTA if he can't get what he wants. I doubt he won't pussy out on it but if he doesn't it combined with this will JUST the economy

If you remove most deductions it allows you to lower the tax rate quiet a bit as it expands what's actually taxable income. Couple this with growth and the economy doing well and confident, that should certainly help. It'd also be nice to see a reduction in spending or at least smarter spending.

Sounds good.

Taxes are theft, so eliminating as much of it as possible is a good thing.

>dogshit economy
>GDP grew by about 7% in 1985
You wot mate?

>but they will pay for themselves
im already rofling when debt skyrockets once again
>but muh obama's economy

Heritage Foundation, Cato Institute, and the Tax Foundation.

You're correct yeah I'm talking about his campaign tax plan but the numbers OP is giving are from the campaign tax plan and if those are the numbers that Trump is actually proposing then the analysis on his campaign tax plan is valid.

gtfo kike, quit spreading lies. Nobody knows the details of this and to assume otherwise makes you a nigger shillblue

The government is stealing from me after I die, oh noes

>this will JUST the economy
just temporarily until we get all our jobs back and the economy adjusts to domestic production

>We honestly cannot afford the tax cuts Trump is proposing.
You've got that backwards statist, it's the spending we can't afford.

From google and Apple and the rest paying 15% to the USA instead of Ireland.

Can trim back government expenditure and manage to pass the tax cuts onto the people.

That's why Congress and the various govt. affiliated agencies are fighting Trump at every turn.

If you don't have kids then there's nothing wrong with that.

found the unemployed neet from a poorfag family

Holyshit, do it burgers DO IT

>1985
I said early not mid 80s. Reagan did two tax cuts one in 1981 right in the middle of a recession and like this plan with now revenue offset. Which did jack shit, and another later on that had revenue offsets with little ill effect

name one that has analyzed the current tax plan, you knew what I meant. there are none, because the details aren't available. faggot.

Obama Leaf here. I cannot believe you retards are falling for trickle down meme all over again. America will not survive the next Republican Recession and you retards will have a debt crisis.

Right wing retards are such dumb autistic children, they think tax cuts pay for themselves.

youtube.com/watch?v=St6ZNHKLiP0&feature=youtu.be&t=214

Have they into the income levels for said brackets and marriage penalty or no?

>pay up goy, so you can have roads (

The highest GDP growth decade for the US was the 1960s

>Can trim back government expenditure and manage to pass the tax cuts onto the people
cutting taxes is very easy, there is a huge support for it. The problem is rolling back governemnt programs. And sure enough there will be a massive gridlock when it will come to that. The result will be higher deficits, lower taxes and fuck all cuts to spending, its a vicious democrat/republican cycle

Did he just say they're eliminating taxes on worldwide income (non-domestic income)?

That's.... that's.... unbelievably amazing

Also people seem to be touting this percentage growth when the US was coming out of fucking stagflation. Could be argued it was more monetary policy that really any changed anything rather than taxes.

More appropriately:

The government is stealing from me, before I am born.

Governments borrow against their citizen's futures, that is to say, you don't vote for the expenditures of the past that you are paying off.

Educate yourself faggot.