Why do we need tax cuts?

[BrometheusBob.]

Gruber, pay attention.

If you can't handle discourse like an adult I will be forced to put you on ignore

[1bad65]

For the grubers....

A tax return doesn't mean you didn't pay Income Taxes.

It means you overpaid them and you get SOME back.

Say the Federal Government withholds $1000/month from me. At the end of the year I get a refund check for $3000.

Now I'm not $3k ahead. I actually paid $9,000 in Income Taxes.

It's not rocket science here.

[1bad65]

If you can't handle discourse like an adult I will be forced to put you on ignore

Go right ahead.

I use it, and so can others.

[Zaroku]

i don't deal with publicly traded companies, but i deal with companies who are owned by investment firms with as much as ten billion in capital, and whose numerous holdings might employ hundreds each. i know these dogs personally. i sell some of them them six figures worth of machines every year. you don't think my dogs are going to change how they count they beans if capital equipment purchases don't have to depend as heavily on depreciation?

my dogs can run, and they will if you let them. that's the basic idea behind tax cuts for corporations.

Sometimes, it cheaper and easier to just leave, to a place where labor is cheaper, taxes lower, and less government regulation/irritation

[BrometheusBob.]

Go right ahead.

I use it, and so can others.

I'm just making fun of the fact that you don't meet the standards you set for other people. Most of the comments in this thread from you are laced with personal insults, which would normally be grounds for you to stop reading a comment from someone else.

I am not actually triggered easily enough to put people on ignore. But that's just me. I realize other posters may be more sensitive about the words they read online.

[Zaroku]

Go right ahead.

I use it, and so can others.

Did I tell you I became a self taught Rabbi in Japan to lower my taxes here?!

I like it a lot..

My fellow Jewish finance buddies meet once a month and fellowship, Japan respects and doesn't tax our synagogue

[BostonGuy]

Aside from c-corporations, most small, medium and many large U.S. companies are organized as S-corporations or partnerships (LLCs, LLPs, LPs). S-corporations or partnerships are not taxed federally on the entity level; they 'pass-through' their earnings(losses) to the partners or shareholders. The partner/shareholder pick up the income (loss) on their respective individual tax returns.

Pass-through en****** currently are taxed at ordinary income rates (tiered rates, highest at 39%). The Trump administration is pushing for a flat tax of 20-25% on pass-through income.

I work with a lot of small businesses that are organized as pass-throughs and taxed at ordinary rates. A lot of these businesses earn substantial profits and the owners are taxed (on their individual returns) at top tax rates. A flat tax of say 25% would be a potential huge windfall for these business owners. They would be impacted significantly. Some of the tax savings would surely free up capital to reinvest into their business in equipment, employees, R&D and other expenditures. However, I'm not convinced that it would be the homerun economic stimulus that Trump is promising

[Scipio2009]

i don't deal with publicly traded companies, but i deal with companies who are owned by investment firms with as much as ten billion in capital, and whose numerous holdings might employ hundreds each. i know these dogs personally. i sell some of them them six figures worth of machines every year. you don't think my dogs are going to change how they count they beans if capital equipment purchases don't have to depend as heavily on depreciation?

my dogs can run, and they will if you let them. that's the basic idea behind tax cuts for corporations.

You're making my point for me. Would the folks you do business with give a **** whether the top statutory rate was 35% or 25% or 28% or 31%, if it meant that they could get that full expensing provision passed into law?

I don't know the folks you're working with, but I'd doubt it.

The nominal number means far less to businesses than the actual tax provisions, so why not keep the focus on the provisions?

[Scipio2009]

Interesting take...but if I lose my job, the US gives me nothing. I'm making decent money..my labor is mine..I'm a slave... Luckily..I stopped using American banks and keep my money in Japanese, no SSN banks.. Also, my Jew buddies & I created a new Jew based religion. We donate to our synagogue, it lowers our Japanese income tax to nearly nothing, thereby leaving nothing for the US to tax..

I'm a self ordained Rabbi, so are my buddies at Merill Lynch, JP Morgan, and other finance companies..we follow the Japanese law to the letter..

If you lose your job, you're still a US citizen whose skills were able to put him into a position, working for some time, in a nation abroad with no restrictions against you (unless Japan has some weird "only for the Japanese" rules that folks don't pay attention to generally).

The job market is what it is, but skills and contacts will hopefully lead you to a new opportunity, with your status as US citizen allowing you to pursue the new opportunity almost anywhere on the planet.

Still, if you have no taxable income (charitable giving in the US is also a tax perk), I'm not really seeing what you're fighting here?

[Scipio2009]

Do you need sources showing tax revenue increased after the income tax rates were cut in the 1980s and again after the Clinton CG tax cuts?

Really???

I hate to have to bring you up to speed on the basic facts, but if it has to be done, I guess I will.

Of course once sourced it's to be accepted. You know that, I assume.

I've read about the Reagan cuts; if you want to argue that the repair bill that was passed almost immediately after had no impact, that's on you. You'd be wrong, but it's your right to be willfully wrong.

I haven't looked into the Clinton capital gains tax cut, so there's not much for me to say. Not knowing any of the details, I sincerely doubt that the cut simply happened without other offsets.