Trump: proposes tax cuts for the rich and yet...

Discussion in 'Politics, Religion, Social Issues' started by VulchR, Aug 9, 2016.

  1. VulchR macrumors 68020

    VulchR

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    Scotland
    #1
    I must admit I don't get it. Many working class Americans support Trump. I can certainly understand their frustration at being left behind by the economy. Yet much of his economic plan involves cutting taxes for the rich (see NYT article). Surely by now people should see through Trump's circus act and see that he's not offering change at all. Under his plan the rich will get richer, and the rest can eat cake.
     
  2. samcraig macrumors P6

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    USA
    #2
    But he's so honest. And he is their voice. And he shoots straight. And...
     
  3. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #3
    If he breaks the tax loopholes I would agree to the rich paying a real 30+% and middle class paying lower, but that's probably not going to happen.
     
  4. zin macrumors 6502

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    #4
    A summary of both tax plans is that Clinton's plan raises taxes across every income group, with the highest incomes seeing the highest increases, whereas Trump's plan cuts taxes across every income group, with the highest incomes seeing the highest decreases. Clinton's plan also cuts capital gains tax.

    According to the Tax Policy Center, neither candidate has plans that address government debt, with both plans making the issue worse, with Mr. Trump decreasing revenues by far the most out of the two. Without more details on which loopholes to close or spending to cut, Trump's plan would increase debt by far more than Clinton's.

    Neither plan will ever make it into reality as Republicans will never work with Clinton and a Democratic Senate (if they retake it) will never work with Trump.

    Under the status quo, according to the CBO, deficits will rise again in the long term and debt to GDP will increase to 141%.
     
  5. thermodynamic, Aug 9, 2016
    Last edited: Aug 9, 2016

    thermodynamic Suspended

    thermodynamic

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    USA
    #5
    The logic might be that more middle class jobs will increase the tax pool, thus sustaining tax cuts for the rich.

    Did that work in the 1980s, as the rich got tax cuts but then Reagan increased taxes on everyone else 11 times or something? Seems a lot of people have forgotten Reagan's era and legacy. Never mind that all the tax cuts didn't stop companies from offshoring jobs just to pocket more "profit" for itself, all while nothing trickled down. G H W B was right when he called it "voodoo economics" in 1980. Shame he wasn't able to fix it when he was elected in 1988.
    --- Post Merged, Aug 9, 2016 ---
    Yet with all the news articles saying how big prominent Republicans will vote for her but then they won't work with her when elected? Maybe not a bad thing, Obama had to use executive orders because of the obstructionism, or compromise more than he would have wanted to. Eight years, Clinton will not stand for the games the GOP plays if they try it with her.

    Who said Republicans would work with Trump, either? Of course. if he's elected and then leaves, will they work with Pence?
     

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