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hardnox
Advisor

Trump Tax Policy

http://www.taxpolicycenter.org/UploadedPDF/2000560-an-analysis-of-donald-trumps-tax-plan.pdf

 

FWIW, might even be mildly stimulative as it pushes deficits sharply higher.

 

The $10.5T figure is roughly where they tagged Sanders' plan as well although one thing is if you're going to run deficits, progressive cuts are much more stimulative than regressive ones (unless you're in the yatchbuilding or bodyguard business)..

 

We already tried that and, as you'd expect, it didn't work.

 

Also in both cases they advocate some tariffs, which raise prices. While I've heard much bleeding of heart about the poor and elderly suffering under energy shifts/taxes, apparently no concern here.

 

At least in a progressive scheme they get some compensation.

 

Cruz' VAT proposal is, if anything, even more regressive.

 

Memo to ideologues- the world currently suffers from an excess of capital/capacity and a dearth of demand. Regardless what sort of long haired idears are flying around the wingosphere, that would be a mistake of Smoot-Hawley proportions.

14 Replies
BA Deere
Honored Advisor

Re: Trump Tax Policy

That was 33 pages only on Trump, why not compare hillary and Sanders in there?  But $10.5 Trillion by 2026??? Wouldn`t that be kind of be status quo?  The CBO says the path that we are on the national debt will be $10-$11 Trillion higher by 2026, just on the course we`re on now.

 

I don`t see where Trump would be out of line with any other candidate..and that`s given the rosey things and projections they give to get elected.  Obama`s promises as a candidate would`ve eased the deficit in his first term and we`d only have a $14 Trillion Nat Debt were that the case. 

 

$6 Trillion was the point of no return, if we`re being honest, once we passed that it becomes a "hockey stick"  I don`t care who`s in office.  It would be far worse than the $9 Trillion that Obama added thus far had he not had the bennefit of 0%/1/4% interest rates the entirety of his presidency.

 

Bernie proposing $18 Trillion in NEW spending, the only saving grace would be congress hopfully fighting him every step of the way and the bartender at some point cutting him off and calling a Uber cab.   Bernies` 90% income tax rates would have capital fleeing this country as no one has ever seen...he may a that point raise a "exit tax" to slow the hemorrhaging.

hardnox
Advisor

Re: Trump Tax Policy

Merely for the fiscal handwringers, which I believe you are, opportunisticallly.

 

I'm getting quick in looking for the BA Two Step, which is where you always double clutch and try to deflect everything into the category of how it fits in for you and the tribe you identify with (who have done everything right but are still the most oppressed people in the nation and bear no responsibilty for our parlous state).

 

At any rate, deficits created by regressive tax cuts aren't very stimulative in the scheme of things.

 

Just good for the Hamptons vacation house market.

 

 

hardnox
Advisor

Re: Trump Tax Policy

There's actually some stuff for consideration in what Trump vaguely hints at but mostly just a matter of keeping the oligarchs safe by getting high info people mad at Mexicans.

BA Deere
Honored Advisor

Re: Trump Tax Policy

Well you and I both know that if the national debt and deficit is on your short list of considerations on picking a president, everyone running will disappoint you. If you`re a liberal, I`m sorry to say but there simply isn`t enough Koch brothers to tax that will balance the budget.  If you are conservative, there are too many people decoupled from their tax responsibility, they are too used to receiving checks from the government and don`t want to give up programs that enhance their standard of living. 

 

In short a president that cut and taxed and grew what would be required to balance the budget, that person would not serve out their first term and would be called "Hoover" and "hitler".

 

The economy is too dependent on deficit spending to stay bouyant.

schnurrbart
Veteran Advisor

Re: Trump Tax Policy

Why do conservatives, especially you, always say that raising taxes on the rich (at least taking away the loopholes that they alone can use) won't balance the budget or the same vein of thought on alternative energy??  No one but you guys even mention something like that.  We all know that one thing is very unlikely to solve any one problem all by itself.  BUT raising taxes along with some other things would be a WHOLE BUNCH better than what we have now.  Unless you are a closet uber rich guy, why do you continue to support those folks.  The old line about them being "job creators" was a fraud when it was first said and now everyone knows that!!

Milligan Hay - Iowa d:^)
Veteran Advisor

Re: Trump Tax Policy


@schnurrbart wrote:

Why do conservatives, especially you, always say that raising taxes on the rich (at least taking away the loopholes that they alone can use) won't balance the budget or the same vein of thought on alternative energy??  No one but you guys even mention something like that.  We all know that one thing is very unlikely to solve any one problem all by itself.  BUT raising taxes along with some other things would be a WHOLE BUNCH better than what we have now.  Unless you are a closet uber rich guy, why do you continue to support those folks.  The old line about them being "job creators" was a fraud when it was first said and now everyone knows that!!


“We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
― Winston S. Churchill

NewAgJudge
Senior Contributor

Re: Trump Tax Policy

 

It's all or nothing with these goobs.

 

One thing for sure, they won't be happy in Nov.

 

Craig has stepped up his prepping already. It's going to be bad - for them  Smiley Happy

BA Deere
Honored Advisor

Re: Trump Tax Policy

I`m okay with a flat tax that would insure Buffet and his damned secretary pay the same rate.  It seems rich people don`t pay their fair share no matter what and it trickles down and nails people like me.  Back in the liberal glory days of 70% tax brackets, that didn`t stop people like Getty and Rockefeller from amassing huge fortunes. 

 

And today rich people are so much more mobile, they can move overseas and stash income there now being as the "earth is flat".  People like me can`t pick up farmland and move to the Cayman Islands, we get raped like tied down whores.  

NewAgJudge
Senior Contributor

Re: Trump Tax Policy

 

 

You have my empathy but not my sympathy.

 

Have you considered starting a gofundme or other crowd sourcing  ?

 

I would love to see how you would describe your plight to non subsidized working Americans.