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wcfields2009 78M
909 posts
11/29/2016 9:36 am
Donald Trump's Tax proposal


Here's an article from the Associated Press dated Sunday, November 27:

President-elect Donald Trump's proposals would modestly cut income taxes for most middle class Americans. But for nearly 8 million families, including a majority of single-parent households, the opposite would occur: They'd pay more.

Most married couple with three or more would also pay higher taxes, an analysis by the non-partisan Tax Policy Center found.

And while middle class families as a whole would receive cuts of about 2 percent, they'd be dwarfed by the windfalls averaging 13.5 percent for America's richest 1 percent.

Trump's campaign rhetoric had promoted the benefits of his proposals for middle-income Americans.

"The largest tax reductions are for the middle class," said Trump's "Contract With the American Voter" released this month.

The tax hikes that would hit single parents and large families would result from Trump's plan to eliminate the personal exemption and the head-of-household filing status. His other proposed tax changes would benefit middle- and lower-income Americans. But they wouldn't be enough to offset those modifications.

"If you're a low- or moderate-income single parent, you're going to get hurt," said Bob Williams, a fellow at the Tax Policy Center.

During the campaign Trump said his tax cuts -- for individuals and companies -- would energize the economy by boosting business investment in factories and equipment, while leaving consumers with more cash to spend. His proposals, he contended, would help create 25 million jobs over the next decade.

But Lily Batchelder, a visiting fellow at the Tax Policy Center and former deputy director of President Barak Obama's National Economic Council, estimates that roughly7.9 million families with would pay higher taxes under his proposals. About 5.8 million are led by single parents. An additional 2.1 million are married couples.

Other analysts, including economists at the conservative Tax Foundation and right-of-center American Enterprise Institute, have agreed with Batchelder's conclusions.

So, since I'm not in the top 1 percent, it looks like I'm going to pay more this year in taxes while those at the top will be paying 13.5 percent less. I guess this is what Make America Great Again means to someone who IS in the top 1 percent.

I thank all you people who voted for this man, and remind you that when he was campaigning, Politifacts estimated that half of everything this man said was a lie. I guess that applied to his tax plan, too.

wcfields2009 78M
1355 posts
11/29/2016 9:37 am

Looks like


wcfields2009 78M
1355 posts
11/29/2016 9:37 am

I'm going


wcfields2009 78M
1355 posts
11/29/2016 9:37 am

to pay more


wcfields2009 78M
1355 posts
11/29/2016 9:38 am

federal income tax next year.


Hungr4Yungr 75M
5766 posts
11/29/2016 10:30 am

I am not surprised to read that the richest people will benefit the most from tax cuts. Trump is one of those rich people and he hasn't paid income tax in decades. I agree with you when you said that Americans are going to put up with Trumps ridiculous and dangerous policies because they elected him.


OnDaFence 36M/44M

11/29/2016 5:35 pm

Guess what... it is a "TAX PLAN" It has not been to the House or the Senate in the form of a BILL to maybe get approved into LAW to be signed or Vetoed by President Trump. For the past 8 years I have taken the very minimum amount of money out of my business for personal use because that POS in the Whitehouse thought he needed 32% of it to redistribute for his freeloading bums to keep them voting Democratic. Trump proposes a 15% capital gains tax on MY Hard EARNED money which I can live with... That 17% is for ME not some frigging Syrian Refugee. I am proud to of supported Trump and looking forward to having MY Money to spend on MYSELF.


OnDaFence 36M/44M

11/29/2016 5:48 pm

Just a thought... "The tax hikes that would hit single parents and large families would result from Trump's plan to eliminate the personal exemption and the head-of-household filing status" Are these " single parents and large families " the same ones who milk the system for child care tax credits? get EBT cards? free lunches at school? Every form of public assistance, handouts and welfare??? I am afraid those " low- or moderate-income single parent, you're going to get hurt" people have milked me enough for the last 8 years. I am gay.. No chance of taking those child care tax credits so just WHY would any gay guy give a rat's ass if some of that crowd began to pay their fair share for a change?


foreskin4u2 76M  
51 posts
11/30/2016 3:36 am

Funny you know the specific about the Trump tax cutting program before it's even announced. You re drinking the "Kool Aid" and you might want to change to a drink more truth base.. The leftists, socialists and big government clowns will have a rought time over the nexrt 8 years as Trump creates jobs, enforces the law and indeed helps all Americans. Your socialist Preident Osama did a great job for the middle class didn't he... no growth, no jobs, higher taxes, more food stamps, more illegals, highest goverment spending in 250 of American history, and destruction of the best medical system in the world. I bet you even loved the Cuban monster.. Wake up and come into reality, otherwise it will be a long decade for you and the central planning crowd. With your small tax saving I suggest you buy the Wealth of Nation, it may improve your vision and understanding of the real world. Marx never created anything but sadness, despair and misery.. Read well and learn and God bless your efforts. America has been saved for the 50 years from all that bullshit" pie in the sky" foolishness!


jockstrapfull 68M

12/4/2016 8:38 am

    Quoting OnDaFence:
    Just a thought... "The tax hikes that would hit single parents and large families would result from Trump's plan to eliminate the personal exemption and the head-of-household filing status" Are these " single parents and large families " the same ones who milk the system for child care tax credits? get EBT cards? free lunches at school? Every form of public assistance, handouts and welfare??? I am afraid those " low- or moderate-income single parent, you're going to get hurt" people have milked me enough for the last 8 years. I am gay.. No chance of taking those child care tax credits so just WHY would any gay guy give a rat's ass if some of that crowd began to pay their fair share for a change?
I certainly hope "your business" doesn't involve dealing with the public. If so you need to work on your "people skills".

I think, therefore I'm Liberal.