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Trump's Taxes Revealed
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(09-29-2020, 08:02 PM)americus 2.0 Wrote:(09-29-2020, 09:18 AM)TheO-LineMatters Wrote: Maybe it's because I live in Ohio and it's super conservative, but my sister is a teacher and I've seen and heard from my niece and nephew what they are being taught in school. If my sister or any of her kids' teachers gave them those kind of questionnaires or were teaching that kind of ideology, they'd be fired. I can see why. That stuff has no place in schools. In my area of Ohio, they'd be fired. It's largely a conservative farming community. We show less advertisements to registered users. Accounts are free; join today!
(09-29-2020, 06:37 PM)mikesez Wrote:(09-29-2020, 06:12 PM)jagibelieve Wrote: A flat tax is based on income. The Fair Tax is based on consumption. The difference is with a "flat tax" you are basically penalizing someone for making a good salary even if they choose to save their money rather than spend it. It also only applies to people actually earning an income. The Fair Tax proposal is designed to "prebate" the tax on poverty level spending with a monthly check for all households. That way the lowest income households pay no tax on most or all of their monthly expenditures. “An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
(09-29-2020, 09:46 PM)flsprtsgod Wrote:(09-29-2020, 06:37 PM)mikesez Wrote: You will never mature as a citizen as long as you keep calling taxes penalties. We would still be filling out long forms with all sorts of details about how much money we make, how we make it, and how our household is structured, so the government could determine how much "prebate" we get. Frankly I don't see the advantage. While Bush was president, he commissioned a study of this issue. He found that if the prebate was small, the tax burden shifted very heavily to the poorest people. As they made the pre-bate bigger, the burden shifted away from the poorest people and towards the middle class. Either way, the tax burden on the rich was much less. Which is similar to how it would be with a flatter income tax
My fellow southpaw Mark Brunell will probably always be my favorite Jaguar.
(09-30-2020, 08:26 AM)mikesez Wrote:(09-29-2020, 09:46 PM)flsprtsgod Wrote: The Fair Tax proposal is designed to "prebate" the tax on poverty level spending with a monthly check for all households. That way the lowest income households pay no tax on most or all of their monthly expenditures. No we wouldn't, the prebate is the same for every household. Every household gets the prebate in the amount of e.g. $1,000 that represents the 20% tax on the first $5,000 the household spends each month. That poverty level spending threshold is determined by the COL based on geography sort of like how Medicare adjusts payments to physicians based on where they practice. Every dollar earned comes home, every dollar spent over the threshold gets taxed as sales tax. “An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
NYT's Hit Piece Includes Its Own Fact Check: Trump Paid $1 Million in 2016 and $4.2 Million in 2017 to US Treasury
The New York Times never lets the facts get in the way of a good story – it just buries them so far down no one will see. https://www.westernjournal.com/nyts-hit-...WzjXLZv01c ![]() We show less advertisements to registered users. Accounts are free; join today!
(09-30-2020, 09:49 AM)The Drifter Wrote: NYT's Hit Piece Includes Its Own Fact Check: Trump Paid $1 Million in 2016 and $4.2 Million in 2017 to US Treasury You know how Trump could avoid all this? Just publish his tax returns, like every other President in modern history. The other thing I would say is, according to your article, it turned out he didn't owe any taxes for 2016 and 2017. So he left the money on deposit in case he needed to pay taxes in later years. Basically, that means he once again paid no taxes for 2016 and 2017. He has prepaid some potential/possible taxes for 2018 and later years, but not for 2016 and 2017. He could actually get that money refunded if we wants to. Look, the upshot of the NY Times article is that for a guy who claims to be so damn successful, Trump doesn't seem to be actually making any money. He's just borrowing a lot. And again, who does he owe the $300 million to? Why won't he tell us? |
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