Why do we need tax cuts?

[1bad65]

No one doubts that the rich pay the lion's share of income taxes; the issue comes when you have middle class people paying significant percentages of their income, the rich pay relatively little percentage of their income, and then when the time comes to try and pay for things, the rich are shielded from doing so (when their wealth leaves them in better position to handle the burden).

First off, the amount and percentage of taxes paid by 'the rich' actually rose after the Reagan and Bush tax cuts.

So I don't know what kind of shielding you're talking about.

That aside, so then you would support a flat tax, where everyone pays the same percentage of their income to the Federal Government?

[Tomjas]

By faaaaaar the biggest beneficiaries of Trump's proposed tax reform is the top 1% whilst some lower earners actually end up paying more

Coupled with the fact that it is totally unfunded and the thing is already dead in the water

[Furn]

The average worker produces 300% more than what they did in 1970 and yet is somehow only 20% better off in real terms.

[Monaco Slim]

I'm so sick of this nonsense. The extra dough will be pocketed by the fat cat CEOs. The trickle down will go to the people cleaning their new yachts.

You clearly don't understand how companies work.

Its the fat cat CEO's job to increase the share price of his company, he can't just spend it on a yacht, it will go to new jobs instead.

[Monaco Slim]

By faaaaaar the biggest beneficiaries of Trump's proposed tax reform is the top 1% whilst some lower earners actually end up paying more

Coupled with the fact that it is totally unfunded and the thing is already dead in the water

Are you still occupying wallstreet?

[Monaco Slim]

The average worker produces 300% more than what they did in 1970 and yet is somehow only 20% better off in real terms.

The average worker is a ****ing moron, you could pay them a million a year and they would find a way to spend or gamble it all away.

[megas30]

Trump inherited an unemployment rate of 4.7% from President Obama. Without one single major piece of legislation from Republicans and Trump, the unemployment rate has been stable. Dropping as low as 4.3% in August.

GDP for the second quarter was up 3.1%, that's higher than the projected 3%

The stock market is doing well.

Trump inherited a well oiled economy. The last time a President (W. Bush) inherited an economy doing this good he also cut taxes and we know how that turned out. He came into office with a 4.2% unemployment rate and left office with a 7.8% unemployment rate.

Despite all that nationalist shjt that Trumps speaks, he is a capitalist/ corporate guy at heart. This cut is really for his friends. It is suppose to "potentially" benefit the working class, so you know what that means. As a person with an Accounting degree, i can tell you this---these guys are not loyal to any country. These dudes run multinational corporations. Most of these business men are global citizens. Taxes are these guys worst enemy, and this why OECD came up with BEPS to go after these dudes, but this is also a front, because most of these dudes have influences over who signs off on the laws.

[jaded]

Do you think it's fair that I pay US tax, while living & working in Japan?

Do get taxed at the full rate living abroad?

[megas30]

You have to work to be working class, colored.

Did you see the quotations around "potentially"?

[Monaco Slim]

Did you see the quotations around "potentially"?

Don't you ever talk back to me, boy