Holy crap: Trump might be a republican I would vote for (INCOME INEQUALITY)

[IHateMyJob2004]

Sorry but income inequality is the only thing I give two hoots about right now.

So hearing him say these things about income inequality makes me happy! And his stubborn STFU attitude regarding this issue could be an amazing 1-2 punch.

Things:
http://money.cnn.com/2015/09/02/investing/donald-trump-wall-street/?iid=EL

And as a bonus, he's already wealthier than hell. He is not bribable. Wow, if he tosses in an investigation of every member of congress regarding bribery, I'll sell a kidney and contribute to his campaign.

 

[Fanatical Meat]

Yup I'd guess there will be action. Republicans are warming up to the idea in a big way. Even Jeb wants to change that loophole. I did read it won't bring in that much money but I agree its an obvious disparity.

 

[fskimospy]

This is a tiny part of the tax code. Trump's overall plan, from the very vague outlines of it, would make inequality worse, not better.

 

[cabri]

This is a tiny part of the tax code. Trump's overall plan, from the very vague outlines of it, would make inequality worse, not better.

And how many of those that oppose inequality actually put there wallet where their mouth is.

They desire that the other person foot the bill; not them.

Same goes with illegal immigration or most other hot liberal/progressive issues.


"We do not like it, so lets do something about it; but at the other guy's expense"

 

[Indus]

If Trump proposes a wealth tax that everyone having over 5 million dollars in total wealth will be taxed at 10% per year over 5 million in wealth, then he might have a good income equality plan. Otherwise it's a farce.

 

[Fanatical Meat]

This is a tiny part of the tax code. Trump's overall plan, from the very vague outlines of it, would make inequality worse, not better.

Admittedly Trump is vague but the overview from Trumps tax policy was lower corporate taxes to 20%(?) close a bunch of write offs mess with top personal bracket a bit, reduce a bit for the middle. On the surface it doesn't sound crazy.
What did I miss?

I did forget he wants to eliminate the estate tax. I'm not a fan of this, old family money breeds ass clowns.

 

[fskimospy]

And how many of those that oppose inequality actually put there wallet where their mouth is.

They desire that the other person foot the bill; not them.

Same goes with illegal immigration or most other hot liberal/progressive issues.

"We do not like it, so lets do something about it; but at the other guy's expense"

I make about twice the median household income and I'm willing to pay more in taxes. How about that?

Overall though, missing what US inequality actually looks like. It's not so much a question of the 90th percentile and up vs. everyone else, it's really only partially a question of the 1st percentile vs. everyone else. US inequality is more a question of the top 0.1% vs. everyone else.

So when talking about inequality you could say nobody is 'willing to pay for it', although that's untrue, but mostly the issue is that there are simply very few people for whom paying for it would actually make much of a difference.

This is a common conservative thing to say in order to brush off the huge elephant in the room. (har)

 

[fskimospy]

Admittedly Trump is vague but the overview from Trumps tax policy was lower corporate taxes to 20%(?) close a bunch of write offs mess with top personal bracket a bit, reduce a bit for the middle. On the surface it doesn't sound crazy.
What did I miss?

I did forget he wants to eliminate the estate tax. I'm not a fan of this, old family money breeds ass clowns.

His previously stated plans, as recently as a few years ago included overall massive tax cuts for the rich. (he put out a book in 2011 that called for lowering the income tax rate for income over $1 million to 15%, etc).

I mean as best as I can tell his policies mostly embody whatever he thinks will get him the most attention at any given time so he might have thrown all those overboard, but he's also been a supporter of the flat tax, etc.

Throwing a bone to people with this carried interest loophole is just a smoke screen, which is the same reason other Republicans are rushing to close it. It makes it look like you're sticking it to the rich guy while you're actually padding his pocket overall.

 

[mxnerd]

You are expecting a casino operator who earned money from poor people, bankrupted several times so he didn't have to pay back his owed debts, to be a president that sincerely thinking about resolving income inequality?

It's a very long shot.

 

[cabri]

I make about twice the median household income and I'm willing to pay more in taxes. How about that?

Overall though, missing what US inequality actually looks like. It's not so much a question of the 90th percentile and up vs. everyone else, it's really only partially a question of the 1st percentile vs. everyone else. US inequality is more a question of the top 0.1% vs. everyone else.

So when talking about inequality you could say nobody is 'willing to pay for it', although that's untrue, but mostly the issue is that there are simply very few people for whom paying for it would actually make much of a difference.

This is a common conservative thing to say in order to brush off the huge elephant in the room. (har)

Are you willing to double your taxes.

Have you sent the difference in to charity to assist some others?

Soaking the 1% is not going to solve the problem.

As long as those that do not have everything that some else has; there will be cries of inequity.

You want more; earn it.

 

[Regs]

It's hard to believe a wealthy and HIGHLY competitive man would want to change the level of the playing field from his favor. I actually can not believe it.

 

[Fanatical Meat]

Are you willing to double your taxes.

Have you sent the difference in to charity to assist some others?

Soaking the 1% is not going to solve the problem.

As long as those that do not have everything that some else has; there will be cries of inequity.

You want more; earn it.

My main problem with the tax code is it was written for a different time. People with huge assets have figured out a way to almost eliminate their tax burden, its irritating that money made from labor is taxed differently than profits on investments, its irritating that enormous companies can manipulate the code to not only pay zero taxes but get refunds.
I'd like a complete overhaul and this time build in an expiration date so it forces legislatures to address it again at a later date.

 

[fskimospy]

Are you willing to double your taxes.

So now you're just making up arbitrary thresholds because you got an answer you didn't expect? Also, why would my taxes need to double? What fiscal analysis are you basing that on?

Have you sent the difference in to charity to assist some others?

Taxation is a collective action problem. Saying you are willing to pay more in taxes is predicated upon the idea that others in your situation will do the same. Saying that in the absence of this taxation that we should donate the same amount to charity is a failure of understanding.

Soaking the 1% is not going to solve the problem.

Actually, you could do a ton to lower our gini coefficient by taxing the 1% more heavily. While this would not 'solve' the problem, it would certainly do more to help than any other single policy action. Where did you get the idea that this would not be effective?

As long as those that do not have everything that some else has; there will be cries of inequity.

You want more; earn it.

This is facepalm worthy.

 

[werepossum]

Sorry but income inequality is the only thing I give two hoots about right now.

So hearing him say these things about income inequality makes me happy! And his stubborn STFU attitude regarding this issue could be an amazing 1-2 punch.

Things:
http://money.cnn.com/2015/09/02/investing/donald-trump-wall-street/?iid=EL

And as a bonus, he's already wealthier than hell. He is not bribable. Wow, if he tosses in an investigation of every member of congress regarding bribery, I'll sell a kidney and contribute to his campaign.

So what specifically would make you believe Trump is doing anything more than every other Presidential candidate (including the Messiah) does - generating protection money? Just because he's wealthier than hell doesn't mean he wants to spend his own money achieving power any more than did, say, John Kerry or either George Bush.

 

[BoberFett]

My main problem with the tax code is it was written for a different time. People with huge assets have figured out a way to almost eliminate their tax burden, its irritating that money made from labor is taxed differently than profits on investments, its irritating that enormous companies can manipulate the code to not only pay zero taxes but get refunds.
I'd like a complete overhaul and this time build in an expiration date so it forces legislatures to address it again at a later date.

Stop believing the agitprop. Nobody has figured out how to eliminate tax burden.

http://www.heritage.org/federalbudget/top10-percent-income-earners

If anybody should be pissed at the 1%, it's the next 9%. Not the middle class. The middle class pays hardly anything in taxes.

As far as companies avoiding taxes, if you don't want avoiding taxes then stop trying to use the tax code for your pet left wing projects. What? GE paid no taxes one year because of "green" tax credits? Oh my god! They took advantage of the tax incentives you wanted them to! The horror!

You're right that the tax code was written for a different time. It used to be a tiny tax on only the wealthiest people. Now it's a tax on everyone to fund some asshole politician's pet project and make sure we have the money to keep invading foreign countries. Great, glad we have that useful tax in place.

 

[werepossum]

My main problem with the tax code is it was written for a different time. People with huge assets have figured out a way to almost eliminate their tax burden, its irritating that money made from labor is taxed differently than profits on investments, its irritating that enormous companies can manipulate the code to not only pay zero taxes but get refunds.
I'd like a complete overhaul and this time build in an expiration date so it forces legislatures to address it again at a later date.

I very much agree with the bolded - morally I see no reason a man whose saved wealth earns his nut is entitled to a lower tax rate than a man whose sweat earns his nut. Certainly investors are risking their capital, but there are risks inherent in all of life. If I take a different job, I'm taking a risk that I won't do it as well or the company will fold or the industry will move to China, leaving me with no income. If I am on welfare and take a job paying well enough to end my many benefits, I'm taking a risk that I won't end up better off. Conversely a man who invests a million in T-bills is taking as little a risk as is possible to take and still earn anything. Index earnings for inflation, then tax it like any other income and let investments be evaluated on that basis.

I'd also love to see the corporate tax abolished and replaced with an import tariff AND a tax on any money sent out of our economy, so that if our goods are out-competed by foreign-made goods using cheap labor with little or no environmental protections, then at least they are helping fund our government.

 

[werepossum]

Stop believing the agitprop. Nobody has figured out how to eliminate tax burden.

http://www.heritage.org/federalbudget/top10-percent-income-earners

If anybody should be pissed at the 1%, it's the next 9%. Not the middle class. The middle class pays hardly anything in taxes.

As far as companies avoiding taxes, if you don't want avoiding taxes then stop trying to use the tax code for your pet left wing projects. What? GE paid no taxes one year because of "green" tax credits? Oh my god! They took advantage of the tax incentives you wanted them to! The horror!

You're right that the tax code was written for a different time. It used to be a tiny tax on only the wealthiest people. Now it's a tax on everyone to fund some asshole politician's pet project and make sure we have the money to keep invading foreign countries. Great, glad we have that useful tax in place.

Couple things here. First, energy efficiency tax incentives should be for a limited number of years, perhaps equal to the amortization schedules on the equipment and tooling required to meet those higher standards. After that time, that standard should simply be the law.

Second, we really ought to break military spending into normal operations, personnel support, and equipment acquisitions/maintenance, with any military adventures also requiring a separate funding bill applying a surtax on everyone's taxable income. If you wish to authorize use of force, don't whip out Uncle Sam's Visa, put on your big girl panties and pass the hat. That would do a couple things, mainly discourage military operations but also stop disrupting equipment acquisitions and maintenance so that we don't have soldiers going without body armor to pay for deployments or pilots flying aircraft older than their fathers. If we were all looking at an additional 2% income tax, damned straight everyone paying taxes would have an opinion on Iraq and Libya. We would have skin in the game - albeit a tiny patch compared to those enlisted.

 

[kage69]

Coming from Trump I'm not sure I buy this.

Sounds like someone told him how much traction Bernie is getting with it, and now he's trying to hop on that wagon and get some mileage out of it.

Trump is essentially Romney, with fewer manners and brains, more racism, and every bit as happy with the country's financial status quo as the top 1% are.

When you're rightly bashed for having few or no new ideas (sensible ones at that) it's time to look around for what works. I guess we should give him props for talking about something that doesn't involve how smart he thinks he is, or how much money he has though. Doesn't happen often.

 

[boomerang]

My main problem with the tax code is it was written for a different time. People with huge assets have figured out a way to almost eliminate their tax burden, its irritating that money made from labor is taxed differently than profits on investments, its irritating that enormous companies can manipulate the code to not only pay zero taxes but get refunds.
I'd like a complete overhaul and this time build in an expiration date so it forces legislatures to address it again at a later date.

It's going to take more than a President, any President, to make that happen. Perhaps a guy like Trump is sincere but when surrounded by enormous amounts of corruption there is only so much that can be done by one person.

Can he be the catalyst for change in this regard? It's nice to think he could be, but our government at this point exists to feed the internal corruption and minding the affairs of the nation and its people come in a far second and third if they even rank that high.

The system needs to be shaken up and shaken up in a very forceful way. The pisser is that we can do it willingly or it will be thrust upon us.

I am enamored with the idea of an individual in the Oval Office that has no political background. I think it's the best course of action right now. Will it work at curing our ills? I don't think that we could do worse than we have been and I think further courting a socialist form of government can only lead to no good. Anyone paying even a little bit of attention can see that they've figured that out across Europe, why in the hell would we want to repeat the mistake of them repeating a mistake?

I'll answer my own question. Because we churn out brainwashed idiots from our educational system, that's why.

 

[Fanatical Meat]

^^werepossum just stated what I was going to post. I'm all for a mandatory war tax when troops are used for you know fighting. No more keeping costs off the books, makes every on in the country have skin in the game. Our volunteer army is sometimes viewed as a mercenary force because a bunch of dummies say that is what they enlisted for.

 

[glenn1]

Couple things here. First, energy efficiency tax incentives should be for a limited number of years, perhaps equal to the amortization schedules on the equipment and tooling required to meet those higher standards. After that time, that standard should simply be the law.

Second, we really ought to break military spending into normal operations, personnel support, and equipment acquisitions/maintenance, with any military adventures also requiring a separate funding bill applying a surtax on everyone's taxable income. If you wish to authorize use of force, don't whip out Uncle Sam's Visa, put on your big girl panties and pass the hat. That would do a couple things, mainly discourage military operations but also stop disrupting equipment acquisitions and maintenance so that we don't have soldiers going without body armor to pay for deployments or pilots flying aircraft older than their fathers. If we were all looking at an additional 2% income tax, damned straight everyone paying taxes would have an opinion on Iraq and Libya. We would have skin in the game - albeit a tiny patch compared to those enlisted.

While I'd be all for vastly reducing our military operations, why should the military be the only thing singled out? If we're willing to commit troops to battle why should we need to "pass the hat" for them but all the social programs roll merrily on without a care? Social welfare and entitlement programs should have "skin in the game" in the exact same way and it should be a global reconsideration of every priority the government spends money on.

 

[Newell Steamer]

Trump "tells it like it is", but 'it' is is the voice of US xenophobes - he is not honest. Where he did toss out some honesty was a result of feeding those on the fence about him some breadcrumbs to join his side.

Once he gets in the White House he can just back peddle and tell everyone to F off on not delivering his promise of income inequality. Trump is a corporate welfare Queen - like most of the rich in the US. There isn't anything honest and honorable about him.

 

[unokitty]

All the politicians seem to want to talk about wealth/income inequality now...

Given the track records of the current and past politicians perhaps its time to consider someone different than a conventional politician...

Uno

 

[Icepick]

And how many of those that oppose inequality actually put there wallet where their mouth is.

They desire that the other person foot the bill; not them.

Same goes with illegal immigration or most other hot liberal/progressive issues.


"We do not like it, so lets do something about it; but at the other guy's expense"

No. I'll pay my far share but, millionaires and billionaires will have to pay more and their payments should be based upon a graduated percentage of their overall income.

 

[Icepick]

Trump "tells it like it is", but 'it' is is the voice of US xenophobes - he is not honest. Where he did toss out some honesty was a result of feeding those on the fence about him some breadcrumbs to join his side.

Once he gets in the White House he can just back peddle and tell everyone to F off on not delivering his promise of income inequality. Trump is a corporate welfare Queen - like most of the rich in the US. There isn't anything honest and honorable about him.

That's my feeling as well. Nothing he says about his position on issues has any value at this stage. He is playing a reality TV show contestant and is saying what he needs to say to make it past the next round of cast-offs.