I am using a single filer making $47,000 - $54,000 a year as an example.. Donald Trump wants to lower the tax you pay by over $8,000 per year. Think about that for a minute......
Ok, are you back now? What do you think people do with this extra income? They do things that they maybe couldn't do before. They buy new TV's, they go out to dinner more frequently, they hire lawn services, tree trimmers, go to movies, go bowling, go on an extra vacation.
Now, picture millions upon millions of people doing this with their newly found extra income, which in turn means millions upon millions of new workers will need to be hired.
From what I have seen, people say Trump's plan won't work because it will only increase the debt. Will it?
Edit: And by the way, that same income bracket will still pay the same amount of taxes under Hillary Clinton's plan.
Edit: Some people may even use this additional income to pay down debt or invest in their retirement.
if people have more money, they will spend it until they are just as broke as they were before... they will still be [BAD WORD REMOVED] deep in debt and broke, just at a higher level with more toys and services...
Quote:if people have more money, they will spend it until they are just as broke as they were before... they will still be [BAD WORD REMOVED] deep in debt and broke, just at a higher level with more toys and services...
I was talking about the national debt, not individual debt.
So are you basically saying peoples income should be restricted based on the potential debt they could get into? That's what it sounds like. Or did I just misunderstand?
Quote:I was talking about the national debt, not individual debt.
So are you basically saying peoples income should be restricted based on the potential debt they could get into? That's what it sounds like. Or did I just misunderstand?
not at all...I'm just saying that the American people will spend any "extra money" they get...
Quote:I am using a single filer making $47,000 - $54,000 a year as an example.. Donald Trump wants to lower the tax you pay by over $8,000 per year. Think about that for a minute......
Ok, are you back now? What do you think people do with this extra income? They do things that they maybe couldn't do before. They buy new TV's, they go out to dinner more frequently, they hire lawn services, tree trimmers, go to movies, go bowling, go on an extra vacation.
Now, picture millions upon millions of people doing this with their newly found extra income, which in turn means millions upon millions of new workers will need to be hired.
From what I have seen, people say Trump's plan won't work because it will only increase the debt. Will it?
Edit: And by the way, that same income bracket will still pay the same amount of taxes under Hillary Clinton's plan.
this is the part of your post I was responding to
will it increase the debt? with nothing to offset the loss in tax money not collected from paychecks yes it will...you cant subtract more money from an account that's already having insufficient funds without going deeper in debt
Quote:not at all...I'm just saying that the American people will spend any "extra money" they get...
this is the part of your post I was responding to
will it increase the debt? with nothing to offset the loss in tax money not collected from paychecks yes it will...you cant subtract more money from an account that's already having insufficient funds without going deeper in debt
We are going to have to agree to disagree here. You basically proved the point of my post with the bold quote above.
If someone is already in personal debt before being taxed less and having an additional $8,000 in their pocket annually, then you would hope they would use that to pay down their debt. Other
responsible citizens not in debt will do exactly what you said. Extra spending = booming economy.
Quote:We are going to have to agree to disagree here. You basically proved the point of my post with the bold quote above.
If someone is already in personal debt before being taxed less and having an additional $8,000 in their pocket annually, then you would hope they would use that to pay down their debt. Other responsible citizens not in debt will do exactly what you said. Extra spending = booming economy.
until more people go back on public assistance and government programs, stop going out to dinner as much, stop buying items they dont need and only buying what they need....
The responsible part is the problem...if people can afford something, they buy it and then they dont have the money to do all the other things you mentioned...
Look at the tax returns... people are rich for a week and then back to being broke rather than pay off their debts or catch up the past due bills
Quote:until more people go back on public assistance and government programs, stop going out to dinner as much, stop buying items they dont need and only buying what they need....
The responsible part is the problem...if people can afford something, they buy it and then they dont have the money to do all the other things you mentioned...
Look at the tax returns... people are rich for a week and then back to being broke rather than pay off their debts or catch up the past due bills
I see your point, but it isn't the job of the government to make people responsible. Putting more money in someones pocket gives them a chance to do more good for themselves whether that means paying down debt, investing in your retirement, or doing a home remodel.
I guess what confuses me about your post is it sounds like you are proposing for the gov't to tax the crap out of people and keep them down so they are unable to get themselves in financial trouble.
Quote:I see your point, but it isn't the job of the government to make people responsible. Putting more money in someones pocket gives them a chance to do more good for themselves whether that means paying down debt, investing in your retirement, or doing a home remodel.
I guess what confuses me about your post is it sounds like you are proposing for the gov't to tax the crap out of people and keep them down so they are unable to get themselves in financial trouble.
no its not the job of the government to make people responsible...
Yes putting money in someones pocket gives them the chance to do stuff they want and need...BUT people always want what they dont have....So what do they do? The crunch the numbers and say ok we make this much, we pay out this much so we have "extra money...I think I'll buy a new boat...now it takes almost every penny they make just to pay the bills...THAT's what people do...
I don't want the government to tax the crap out of people, I'm just saying that people(most of them them) are going to spend whatever money they make until they have very little left after paying bills, so no matter how much someone makes, they will spend up to and beyond what they make
I have 2 mortgage payments (house I live in and house we bought next door) and 2 vehicle payments...wife wants new furniture...guess what that means, another monthly payment to subtract from what is left of our pay is fixin to hit us LOL
Trump University said the same thing
Quote:Trump University said the same thing
That is all you have to add? I am shocked.
Quote:I am using a single filer making $47,000 - $54,000 a year as an example.. Donald Trump wants to lower the tax you pay by over $8,000 per year. Think about that for a minute......
Ok, are you back now? What do you think people do with this extra income? They do things that they maybe couldn't do before. They buy new TV's, they go out to dinner more frequently, they hire lawn services, tree trimmers, go to movies, go bowling, go on an extra vacation.
Now, picture millions upon millions of people doing this with their newly found extra income, which in turn means millions upon millions of new workers will need to be hired.
From what I have seen, people say Trump's plan won't work because it will only increase the debt. Will it?
Edit: And by the way, that same income bracket will still pay the same amount of taxes under Hillary Clinton's plan.
Edit: Some people may even use this additional income to pay down debt or invest in their retirement.
Something is wrong with your figures. Assuming that you are talking gross income, a single filer making $47k - $54k doesn't even pay $8000.00 per year in taxes now.
Quote:Something is wrong with your figures. Assuming that you are talking gross income, a single filer making $47k - $54k doesn't even pay $8000.00 per year in taxes now.
My bad. I didn't include the standard deduction and exemptions in my calculation.
Nevertheless, this paints a good picture with the same points as above.
![[Image: CpECzOvWEAA2Sgr.jpg]](https://pbs.twimg.com/media/CpECzOvWEAA2Sgr.jpg)
Quote:That is all you have to add? I am shocked.
<a class="bbc_url" href='http://www.cbsnews.com/news/report-donald-trump-companies-at-least-650-million-in-debt/'>http://www.cbsnews.com/news/report-donald-trump-companies-at-least-650-million-in-debt/</a>
Quote:<a class="bbc_url" href='http://www.cbsnews.com/news/report-donald-trump-companies-at-least-650-million-in-debt/'>http://www.cbsnews.com/news/report-donald-trump-companies-at-least-650-million-in-debt/</a>
Almost everyone I know has some form of debt and I'm guessing you do to.
The single problem with government (monetarily speaking). Every dollar they spend, they must take from someone. They are not held accountable by their constituents.
I would love to see some yahoo like Trump get in, if for no other reason, than to see if he can change that.
The current guy has made an absolute cluster [BLEEP] out of it.
Quote:My bad. I didn't include the standard deduction and exemptions in my calculation.
Nevertheless, this paints a good picture with the same points as above.
The numbers still don't add up right.
So essentially what you are saying is that a single filer that makes <= $54,000.00 per year would pay no income tax?
Try again to explain in your own words (not some graphic from a trumpette website) what the deal is.
Quote:The numbers still don't add up right.
So essentially what you are saying is that a single filer that makes <= $54,000.00 per year would pay no income tax?
Try again to explain in your own words (not some graphic from a trumpette website) what the deal is.
![[Image: MMNWlmz.png]](http://i.imgur.com/MMNWlmz.png)
http://www.taxpolicycenter.org/publicati...-plan/full
I think his 250k+ rate (25%) may have moved up to 30%.
Is this what you were looking for?
Quote:The numbers still don't add up right.
So essentially what you are saying is that a single filer that makes <= $54,000.00 per year would pay no income tax?
Try again to explain in your own words (not some graphic from a trumpette website) what the deal is.
Single would pay 10% and joint 0%
![[Image: giphy.gif]](https://media.giphy.com/media/HQRgg6ks7nkyY/giphy.gif)