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Thread: Tax Cuts Phase 2: Trump says 'major tax cut for middle-incomee' coming in 10 days

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    Default Tax Cuts Phase 2: Trump says 'major tax cut for middle-incomee' coming in 10 days

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    Congress had best start cutting the spending if we want any of these tax cuts to hold. I haven't looked recently, but it seems like the benefits from the last one haven't yet balanced the cost. Don't mistake my point, I am in favor of the tax cuts, but there's another side to the management of government that all of them have forgotten.
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    There's no way he could get it through Congress but what I'd like to see him do is propose to eliminate capital gains taxes entirely. As a compromise, he could propose to eliminate the capital gains tax on equity investments in American companies that keep the majority of their jobs in this country. The investment boom would explode the economy.

    Capital gains tax on stocks is double taxation. When you buy a stock, you are buying part of a company. That company pays taxes on everything it does. The owners should not get taxed again on the worth of the business simply because they made more valuable by being successful.

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    He is such a dumb ass

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    Quote Originally Posted by WoodieSC View Post
    Congress had best start cutting the spending if we want any of these tax cuts to hold. I haven't looked recently, but it seems like the benefits from the last one haven't yet balanced the cost. Don't mistake my point, I am in favor of the tax cuts, but there's another side to the management of government that all of them have forgotten.
    Taxes revenues have increased since the cut. Not enough to curve the deficit.

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    Quote Originally Posted by Bigtimber2 View Post
    Taxes revenues have increased since the cut. Not enough to curve the deficit.

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    That’s my point... “Not enough to curb the deficit (increase)”.
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    Quote Originally Posted by Palmetto Bug View Post
    There's no way he could get it through Congress but what I'd like to see him do is propose to eliminate capital gains taxes entirely. As a compromise, he could propose to eliminate the capital gains tax on equity investments in American companies that keep the majority of their jobs in this country. The investment boom would explode the economy.

    Capital gains tax on stocks is double taxation. When you buy a stock, you are buying part of a company. That company pays taxes on everything it does. The owners should not get taxed again on the worth of the business simply because they made more valuable by being successful.
    I agree with the spirit of this. Not sure that trust fund types that live off of dividends should avoid cap gains tax when school teachers and police officers can't afford the pleasure of cap gains taxes. I'd like to see them eliminated for folks that pay income taxes as employees and give them the incentive and opportunity to build wealth instead of trapping them in failing pension plans.

    The big corp tax break has only caused AAPL to buy it's own stock. This is good for it's earnings in the short term which is good for it's stock price in the short term. Iphones are still getting built in China. Trickle down isn't as straight forward anymore as the populist propagandists hope it will be.
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    How much money do you have to make to fall into the middle income bracket?

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    The Republicans really need to propose some cuts in spending. The debt will eventually bring this country to its knees. Last I read the interest on the debt is the 2nd largest expense in the entire budget.
    Last edited by Gander; 10-22-2018 at 10:32 AM.

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    Quote Originally Posted by Gander View Post
    The Republicans really need to propose some cuts in spending. The debt will eventually bring this country to its knees. Last I read the interest on the debt is the 2nd largest expense in the entire budget.
    Bravo
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    The GOP need to win elections first then push through cuts. Cutting entitlement spending is the best way to lose an election. Most know the current deficit is not sustainable but to make real world cuts fiscal conservatives need to win elections. To win there will have to be some plans not cut to maintain control of Congress The Rand Pauls of the world are not going to sell his vision to 51%.

    I doubt it ever happens but that is only chance to prevent a financial crisis. We are not going raise enough taxes or elect a budget hawk that will get Congress to follow and cut entitlement spending in half in 4byears. It would take 20 years of chipping away and accepting some years you would go in reverse. We would also need to avoid 2 wars we cannot win.

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    Quote Originally Posted by thawhacker View Post
    How much money do you have to make to fall into the middle income bracket?
    http://lmgtfy.com/?q=What+are+the+mi...me+brackets%3F



    $40,000-$122,000
    Last edited by Catdaddy; 10-22-2018 at 12:52 PM.

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    Yall seriously cannot be this dumb....
    SW- "Depp is a fairly deep thinker"

    SW- "THE POINT IS WE CAN'T LET THE GOV BE NOT FUNDED!"

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    Quote Originally Posted by thawhacker View Post
    How much money do you have to make to fall into the middle income bracket?
    To qualify for this particular tax cut you need to make exactly 420.69 magic beans per year
    SW- "Depp is a fairly deep thinker"

    SW- "THE POINT IS WE CAN'T LET THE GOV BE NOT FUNDED!"

    SW- "I'm a dang box"

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    Congress is not in session so I don't know how Trump can accomplish this in 9 days.
    DILLIGAF

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    Quote Originally Posted by WoodieSC View Post
    Congress had best start cutting the spending if we want any of these tax cuts to hold. I haven't looked recently, but it seems like the benefits from the last one haven't yet balanced the cost. Don't mistake my point, I am in favor of the tax cuts, but there's another side to the management of government that all of them have forgotten.

    Spot on

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    Quote Originally Posted by Hogg View Post
    Congress is not in session so I don't know how Trump can accomplish this in 9 days.
    He can't. He lying to your face. He has zero respect for your intelligence
    SW- "Depp is a fairly deep thinker"

    SW- "THE POINT IS WE CAN'T LET THE GOV BE NOT FUNDED!"

    SW- "I'm a dang box"

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    What cell service do you have? If you're getting this great of service wile walking with the "Caravan" you should do a commercial for your phone company. Only 15 more days 'til you pull another Houdini again. See you in two more years I guess.

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    Quote Originally Posted by Bownut View Post
    What cell service do you have? If you're getting this great of service wile walking with the "Caravan" you should do a commercial for your phone company. Only 15 more days 'til you pull another Houdini again. See you in two more years I guess.
    My bad....trump has accurately assessed your intelligence...
    SW- "Depp is a fairly deep thinker"

    SW- "THE POINT IS WE CAN'T LET THE GOV BE NOT FUNDED!"

    SW- "I'm a dang box"

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    Quote Originally Posted by DUCKBLINDNESS View Post
    My bad....trump has accurately assessed your intelligence...
    Your new name going to be 0FORTHREE ?

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