Political Crossfire Forums

Damnit, can't read the whole article. But I'm assuming it's due to raising the standard deduction making it more advantageous for more people to just take the standard deduction. Did the article say anything about losing state & local taxes as a deduction?

If it was manufactured in such a way that it wasn't taking from everybody else to pay for lower corporate tax rates (and for pass throughs) then I'd be more inclined to support it. It doesn't make a lot of sense to take all of this away to further diminish discretionary spending around that time of year, to put middle and upper middle america as paying more, while giving these corporations a tax break and a way to manipulate it once again.

We'll see what they do with the tax "loopholes" on the corporate side but my inclination is to think this is going to make it easier for them to bring their effective tax rate down below most of our global peers.

Corporate Taxes as a % of GDP:



Provided by the OECD and courtesy of Krugman. Lower the tax rates and don't remove most/all of the corporate exemptions? It'll be Reagan Redux where rates will have to go up under the same President. Repeatedly.

US is 3rd highest in world behind Chad and UAE

https://taxfoundation.org/corporate-inc ... orld-2015/

if i had my druthers...

all the tax breaks are gone. 25% corporate income tax. end of discussion

for personal income tax, progressive and it maxes out at 50% at over 2 million/year, with tax relief for low to middle/high middle earners, and removal of all exemptions, including standard.

death tax is at 90% for over $5 million, earmarked for infrastructure projects only. the inheritance we receive from those rich folks will benefit us all

there. sorted.

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