Trump Tax Plan To Benefit "Top 1%" Most, Cost $2.4 Trillion, Middle Class To Pay More Taxes

You dumb stupid cucks. You fucking morons. You actually believed that Trump cared about the average guy. Now Trump is going to give a MASSIVE tax cut to billionaires and big corporations. And your taxes will likely go up. And there are no spending cuts, so that means even more borrowing and a debt increase as big as during Obama's Presidency. The country is being financially destroyed with debt. Wow. Speechless. You dumbfucks. You fucking dumbfucks.

zerohedge.com/news/2017-09-29/new-trump-tax-analysis-shows-most-benefits-go-top-1-middle-class-pay-higher-taxes

Other urls found in this thread:

taxpolicycenter.org/publications/preliminary-analysis-unified-framework
archive.4plebs.org/pol/thread/95151903/#95152876
taxfoundation.org/2017-tax-brackets/
twitter.com/NSFWRedditImage

BRAVO POL

BRA FUCKING VO

YOU PUT A MERCER GOLDMAN SACHS SHILL

>average family of four that earns 200,000 per year set to save 6-10 grand
>average single household that earns 50k-77k saves 2k

WOW HOW EVIL

How dare he save people money

...

median income for family is like 30k

>777
Fuck

At this point white people are the top 1% so who cares? The dollar is so inflated now that bkacks and mexicans regularly make $60-70k

Good. None of those people are related to me

boy you sure are mad trump kept his promise with no lobbyists in his cabinet

>bkacks and mexicans
go back.

Just stop being poor, morons, and your tax liability will decrease

money=debt stop having any morons.

I get it. The 1% have a lot of money and therefore any deduction whatsoever sounds big and scary to libshits.

That's below the poverty line.

>How do percentages work; The thread

Holy fuck liberals are dumb.

Aww the middle class hates taxes? Doesn't everyone? So why shouldn't we have equality?

>inb4 it hurts one "class" more than the other

fuck that noise.

Are people here dumb enough to think that it is possible to tax the people who own the means of production?
All tax costs are passed down to the employees and to the consumer, get used to it.
"tax the rich" is just a myth politicians created to fool idiots and make them happy at the same time.

What a retard.

Appointing world class bankers to the treasury, he should have appointed a plumber.

Corporations are literally stocked with cash already, this tax cut is literally doing nothing but giving them more money to sit on .

That is just straight up false median income is nearing 60,000

we are witnessing the great redistribution of wealth and the final blow to the middle class

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The middle class was foolish for not choosing a side

Oh no.
The gaslight in my face.
ouch.

most liberals are dumb, not the ones making these talking points and riling up the mob.

those liberals know EXACTLY what they are doing.

not a very persuasive argument

Anyone have a short gestalt?

How does removing itemized deductions, which are predominantly used by top earners, benefit those top earners?

Corporate tax rate goes down.

Top earner tax rate goes up. Middle class tax rate goes down.

Communists hate capitalism so they are shilling against this plan.

>You hear that, rural and suburban retards?! Your bottom line is about to get hit by 0.7% HAHAHAHA! MORONS! LEARN TO VOTE!
>*imports 20 million spics to work under the table and take away rural jobs*

Everyone's for equality until it's about taxes. Doesn't get my hypocritical than that.

>Middle class tax rate goes down.
Then why the fuck do OP claim the middle class get to pay more taxes?

Because he's lying?

Income tax is inherently a tool that will shape society. I would prefer something else, but if we must have a tool that punishes some groups and rewards others, we should punish those who are not desirable and reward those who make good choices. Hence those who are poor should be taxed the most, and the rich not taxed at all. Create incentives to be successful, with some break to encourage marriage and having at least two children, but NOT for those too irresponsible to have wealth to raise the children they create. Better optics than the ovens, and we create the superior race without any overt racism.

Communists like OP enjoy spreading lies.

I read the article you posted and it has very very weak arguments for it's title, almost none at all. The tax bill is a cut for all lower and middle class citizens, better luck next time shills.

OP is lying. There is no evidence that OP is offering to back up this claim that the middle class will be taxed more.

Nothing better to sit on than a big pile of cash. Why waste it on shit like healthcare or infrastructure?

>Median income for family is like 30k

Assuming an expected two income household, it requires both earners to earn min wage as $7.25 for 40 hours a week (no vacation because no one at that bracket gets vacations) totals to $15,080 per person.

I was delivering pizza for $39k a year. How do families manage to make so little?

Mayb they shouldnt have families. But no, our govt promotes poor fucks to have as many as theye can while the middle class suffers

taxpolicycenter.org/publications/preliminary-analysis-unified-framework

The tax cuts are smaller as a percentage of income in 2027, and taxpayers in the 80th to 95th income percentiles would, on average, experience a tax increase.

Middle class isn't one that makes median income, idiot.

The 75k-150k ie the middle class either retains the same tax rate or gets a slightly higher one. Percentage wise or in absolute numbers, the richer you are the more you benefit.

Part time work. Contractor jobs. Temp employment. Single mother shit.

>(((Tax Policy Center)))

I make 60k with a single income, enjoy poverty retard

The source article is from zerohedge.com, which is a libertarian and Austrian economics website.

Also, David Stockman, a Reagan conservative, says Trump's tax plan is a joke.

By gaming the system for gibs.

Allow me to educate you with pic related.

Jokes on you, I don't even make a living wage.

...

Trump's tax shit has shown me that most people I know don't know SHIT about taxes. It's SAD. Most people seem to think that a standard deduction increase is useless for majority of Americans. Most think a deduction and a tax credit are the same things.

Most think when you earn a certain amount, all of your taxes are paid based on the bracket you are in. They honestly think if you earn 9325 dollars right now, you only pay 10% on all of it (which is true), while if you earn 9326, you pay 15% on all of it.

I fucking hate my friends.

Also note that the cut off rate for paying any tax has significantly increased.

I TRIED TO WARN U FUCKING RIGHT WING RETARDS

TRUMP = BUSH 2.0

Sounds good to me, the rich are tired of our shit

Those people will save about 5-600 bucks only

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What are proportions?
>OMFG 20% of $1,000,000 is $200,000 but 20% of $50,000 is $10,000 Trump's plan only benefits the rich!G@#$

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Sup Forums is tax experts now. on that note don't listen to any "tax experts" they are all jews

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>jews stats
ewww

...

Suuure

You stop being poor idiot

are you shills even trying? This was posted earlier

A quick breakdown on Trump's new tax-plan is as follows:

35-25-12

Under the obama administration and up to today, the "rich" have been taxed at a rate of 28-30%
Under Trump's tax plan, they would be taxed a MINIMUM of 35%, this is an INCREASE in taxing the wealthy.

Under the obama administration, the middle class were taxed 26-28%.
Under Trump's tax plan, the would be taxed a MAXIMUM of 25%, this is a DECREASE of taxes for the middle class

Under the obama administration, the lower class was taxed between 18-25%.
Under Trump's tax plan, they will be taxed a maximum of 12%, again, a DECREASE of taxes for the lower class.

In addition, Trump's proposal DOUBLES the tax deduction given to married couples with children from $12,000 to $24,000 SAVINGS.

Know the facts. Trump is literally fixing our broken tax system, helping the lower and middle class, and increasing taxes on the rich.

Just going to leaf this here.

archive.4plebs.org/pol/thread/95151903/#95152876

>under 30k
If they are making this much they will be getting a fat check when I'm paying taxes. Additionally they will be on food stamps and up to a dozen other government programs.

>t. someone who used to be that poor.

>be rich
>home country raises taxes
>move

Yup, so expect to see influx of wealth into the U.S. Thanks Trump!

>higher taxes on 30% of incomes between 50k and 150k
>higher taxes on 60% of incomes between 150k and 300k

This is what I was afraid of.

>Under the obama administration and up to today, the "rich" have been taxed at a rate of 28-30%

Why do you lie? The marginal rate for the rich is 39.6%.

taxfoundation.org/2017-tax-brackets/

>implying the bush tax cuts didn't result in an increase in revenue
lol

>complain about jobs leaving
>verbally abuse companies for outsourcing
>rally on and on about not having a competitive business environment
>raise taxes on rich

thx blumpf

>Middle-class
Your numbers are off and the actual number is very dependent on where you live.

This benefits me. Fuck Obama and fuck poor niggers.

>rich people who have more money wilL save more than the average person who also saves
WHO WOULDA THUNK IT

>screencap from DU

also
>2027
>implying it would stay in place that long

Jesus christ all the fucking lies and complete lack of understanding in this thread on both sides.
Let me give you a quick rundown
The current tax brackets are
0 10 15 25 28 33 35 39.6
Under trumps new plan the tax brackets are as follows
0 12 25 33
People on the lower end will get a MASSIVE tax cut since unless you earn $19k a year you will pay 0 taxes.
19-52 is 12
52-200 is 25 and anything over 200 is 33
I'm not sure how long this is gonna be so I'm gonna cut it off here

>A bunch of faggots hypothesize about an incredibly vague tax plan that no one knows the outcome of because it varies by state

This tax plan somehow raises taxes on the rich and lowers them all at the same time. I wish you cock suckers would get your shit together.

>Why do you lie? The marginal rate for the rich is 39.6%.

Trump's removing itemized deductions which gets exponentially more important the higher up the income ladder you go. The rich will be disallowed from:

>Deducting state and local taxes to reduce their Federal tax burden
>Deducting investment interest expenses (borrowing money to invest (yes, this is deductible under the current regime))
>Deducting charitable contributions

Basically the rich are going to get fucking soaked and the only reason they'll take it is because of the repatriation exemption.

Goddamn women who work out to this extent are fucking disgusting.
>Muh discipline and dedication
No, it's fucking gross. Go fuck males if that's what you want.
Not saying she should be a ham planet, but a proper amount of fat won't fucking kill you.

why is trump reducing the top tax rate from 39.6% to 35%?

who is paying u to shill for tax cuts for the rich? george soros im guessing

Please note those number are for single filers, the numbers are slightly different for joint filing.
Now what you have here are pretty hardcore tax cuts for the lowest and highest earners when it comes to purely looking at tax brackets.
What makes things more interesting with trumps new tax plan is that he is DOUBLING the standard deduction, something that is incredibly important to low earners and useless to the top earners. If you're earning 600k per year in taxable income who cares if you get 12k cut off of that, meanwhile when you're earning 48k that 12k makes a massive difference.
But going from 39.6% to 33% is still a massive tax cut, if it weren't for things like itemized deductions that exist in out current tax code that effectively allow top earners to pay closer to 30% in their taxes anyway, meaning that when the tax code says they are taxed at 33% they are taxed at 33% with no leeway

Another thing that will help balance the seeming disparity in the tax increase for the middle class and tax cuts for the upper class are the tax credits built into the system.
What they've said so far is that there will be nonrefundable tax credits allotted for children, but the actual amount hasn't been disclosed, and a $500 nonrefundable tax credit for each nonchild dependant.
Again these are things of almost no impact to the high earners but will greatly impact middle class families.

The only real issue I have with his tax plan is that for a "finalized" plan they are being incredibly vague about many of the specifics so it's hard to see what the real impact will be, but what I can say for sure is that based on the information provided it's not going to massively help or hurt anyone.

>The rich will be disallowed from:
>>Deducting state and local taxes to reduce their Federal tax burden
yes
>>Deducting investment interest expenses (borrowing money to invest (yes, this is deductible under the current regime))
yes
>>Deducting charitable contributions
NO
Charitable contributions and mortgage interest are the deductions confirmed for sticking around.

>why is trump reducing the top tax rate from 39.6% to 35%?

To say he's lowering the marginal rate for everybody so he can sell it to the cucks in the GOP when what he's doing is putting a new, much larger tax burden on them. Trump's straight up reversing the policies that put the stupid GOP "Starve the Beast" shit into play.

>why is trump reducing the top tax rate from 39.6% to 35%?
Why is that the only thing you see?

Trumps own Weekly Address he released today talks about his Tax Plan. He thinks the Dems are going to shut him down.

>Charitable contributions and mortgage interest are the deductions confirmed for sticking around.

Oh, my bad. Still, the removal of substituting state and local taxes for federal (what state/local deductions equivocate to) is putting a new, larger tax burden on the rich, though it will even out as the repatriation exemption will allow the mega-rich to bring their money back in from the cold.

The top 20% of the U.S almost pay 100% of all taxes. The people already getting gibs and welfare dont need tax breaks. Congress needs to restructure medicaid etc.

Ding ding ding

>this assblasted over an image

It's good to know that pol is full of good goys who support tax breaks for (((corporations))) and (((rich people.)))

Charitable deductions should stick around. If theres no incentive to donate then why would the rich ever do it?

Trump knows they will do that already that's what he's making it as reasonable as possible and will even "cave" on some other things.

They will have to explain themselves.

Congress is a real bitch... gotta replace them next year.

>He likes his traps with washboard abs

ironically it's the libtard states like newyork and california who are gonna try to hold that shit back

If they actually get rid of the state and local (i.e. property tax) tax deduction, then it will assfuck the middle class, with a double-cock assfucking for the upper-middle class. Won't matter how they draw the 3 brackets.

that fat fuck thinks those are abs

Middle class will pay less in taxes but somehow that now means the middle class will pay more taxes