Discussion: Trump Promotes 'Giant, Beautiful, Massive, The Biggest Ever' Tax Cut Plan

Ah yes, “Rocket Fuel”.

Burns quick, and only really good for one way trips… then the rocket comes crashing back to earth.

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The kitchen redo is one zero short then at least double it. You’re so right about out-of-touch.

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“Massive”
Sure, for Cohn’s “average” 100K family.
Wait, even they get shafted , probably.
The ShamWow pitch tells me somebody is sweating the next NewsBomb.
Hope he’s right to be scared.

[quote=“ralph_vonholst, post:12, topic:63037”]
“Giant, beautiful, massive…”
[/quote]Well, he does have a very limited number of adjectives at his disposal - about 10 for good stuff, and maybe 8 for bad. Not many nouns or verbs available, either. Exceptionally small number of adverbs. Where are all the words? Where are they? Someone else must be using all the words that he should have.

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Donald’s going to be so mad when people point out Reagan’s was bigger, and he cut taxes more.

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You forgot the repeal of the Alternative Minimum Tax. It’s a trifecta for the 1%.

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From the ‘truth is stranger than fiction’ file, I learned a new word - betrump - on NPR the other day.

Below is the entry from the Oxford English Dictionary on the 16th century word ‘betrump’, which may find new life

beˈtrump, v.

Etymology: < be- prefix 2 + tromp v., < French tromper to deceive.

Obs. rare.

trans. To deceive, cheat; to elude, slip from. (= Latin fallere.)

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Where’s the part about adding $1.5 trillion to the deficit?

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“It will be rocket fuel for our economy,” he said. “Pretty soon, they’ll be referring to me as Rocket Man!”

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Hee-hee-hee! You funny, girl! :joy:

IOKIYAR!

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What I’ve seen floated would increase my household’s taxable income by about $16,000. That would mean about $4000 $2400 more in taxes each year. No rate cut will make that up.

Assumes:
– standard deduction doubled
– personal exemptions eliminated
– deduction eliminated for state/local taxes
– deduction maintained for mortgage interest

The loss of 3 personal exemptions wipes out the benefit of the increased standard deduction for a “married filing jointly” return. Such households lose if they have more than one dependent. The quiverfulls will be thrilled.

It is unlikely that a final package would match any current proposal, but, the GOP Congress certainly seems like they would love to stick it to blue states. We saw that in the last Senate healthcare elimination bill and we see it in the proposal to drop the deduction for state/local taxes.

Edited to correct faulty memory of our marginal tax rate

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The deplorables knew this word from the start of the campaign. “Let Trumpp betrump,” they insisted.

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But T rump’s deficits will be bigger. Much bigger. The size of the Milky Way. They’ll be tremendous, so it’s all good.

Yes. And not only that, this article says nothing about where the rest of the $6 trillion comes from. I saw the figure of $1.5 trillion added to the national debt in the Associated Press article, but that leaves $4.5 trillion unaccounted for.

I suppose it would be impolite to ask which economically struggling Americans they plan to claw that $4.5 trillion out of with the massive spending cuts that would be required to close that gap.

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Healthcare, Social Security, and defense are the only pots large enough to make a dent. Hmmm, so hard to figure out what a GOP Congress might do.

“Simplify[ing] tax brackets” does nothing to actually simplify taxes. It just shaves off 0.0001 millisecond off the time a computer takes to calculate the tax table printed in the 1040 instruction book.

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I suppose, though, that a GOP candidate could claim that they would close the budget deficit by cutting off Obamaphones. The primary voter will go for it.

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“The Republican tax plan also recommends a surcharge for the very wealthy.”

Isn’t that what the 39.5% bracket already does?

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Exactly!
The complicated part is NOT 7 brackets vs 3.
It’s the thousands of pages of carveouts for - dare I say? - special interests.

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Don’t know if Donald will get anything done with tax cuts, but where he has apparently been getting things done is selecting judges, er I should say appointing because I doubt Donald has taken any time thinking about these, just taken the word of the federalist society.

Edit: Round 2 was good also on NFL

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