Trump's Latest Lie Is A Whopper - Politics Forum.org | PoFo

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#14853149
The lie:
"No, I don't benefit. I don't benefit. In fact, very very strongly, as you see, I think there's very little benefit for people of wealth."

The truth:
It’s not difficult to see how the plan is tilted toward the very top. The main elements of the plan are a cut in top individual tax rates; a cut in corporate taxes; an end to the estate tax; and the creation of a big new loophole that will allow wealthy individuals to pretend that they are small businesses, and get a preferential tax rate. All of these overwhelmingly benefit the wealthy, mainly the top 1 percent. The Trump business/family should reap an estimated $1,000,000,000 via eliminating the estate tax.

There are also some measures affecting middle-class families, but they’re relatively small change — and some of them would actually raise taxes. Over all, the nonpartisan Tax Policy Center estimates that by 2027 almost 80 percent of the gains from the plan would go to the top 1 percent, just 12 percent of the gains to the middle 60 percent of Americans — and that more than a quarter of middle-class families would actually see their taxes go up.

So what’s behind this priority? Follow the money. Big donors are furious at missing out on the $700 billion in tax cuts that were supposed to come out of Obamacare repeal. If they don’t get big bucks out of tax “reform,” they might close their pocketbooks for the 2018 midterm elections.
#14853993
Donald's supporters frighten me. They chose an inexperienced, thrice-married, narcissistic, failed businessman. Now they revel in his willful ignorance, his childish tantrums, and his lies—or they excuse these behaviors. Many Trump supporters seem to be more close-minded, more angry and defensive than ever. They are invested in his lies. Their sense of aggrieved entitlement matches his. #45 didn’t invent the mindset; he’s just using it to mask his ignorance and attend to his needs.
#14854471
jimjam wrote:The lie:
"No, I don't benefit. I don't benefit. In fact, very very strongly, as you see, I think there's very little benefit for people of wealth."


Since he won't release his tax returns we can only guess that changes to the alternative minimum tax and the estate tax would definitely benefit him and/or his estate. But Trump lives in a reality of his own making. As long as he believes himself, then it must be true, right?
#14854549
To be honest, I only checked in here to see who was defending Putin's cockhostler.
#14855199
According to a Tax Policy Center report issued late last month about the Republican tax plan, in 2018, “Taxpayers in the top one percent (incomes above $730,000), would receive about 50 percent of the total tax benefit,” and by 2027, “about 80 percent of the total benefit would accrue to taxpayers in the top one percent.”

I hope this one gains traction. One of America's primary problems at this time is the extreme concentration of wealth with the top 1% and the reduction of the middle class. This giveaway to Donald's buddies will greatly increase an already dangerous situation. Study history. Such an extreme injustice has been the spark for many revolutions.
#14855202
The problem I have is that Trump lies all the time, so you can't really nail down a single lie, since every time he opens his mouth, a falsehood pops out.
#14855710
"There will be NO change to your 401(k). This has always been a great and popular middle class tax break that works, and it stays!" D.Trump
Surest indication yet that (401k) will be watered down.

Eventually even American voters would realize that voting for Republicans is against their own self-interest, which hasn't sunk in so far. The charade of a tax cut is just smoke and mirrors for the rich. This is, arguably, Donald's greatest anti-American move to date ............. a raid on the US treasury for himself and his plutocratic buddies. Essentially a bank robbery of the highest order.
#14862573
Both the Senate proposal and the similar proposal from House Republicans offer huge tax cuts to corporations and the wealthy, then try to limit the impacts of these tax cuts on the budget deficit by clawing back tax credits and exemptions that mainly benefit the middle class. Of course many in the middle class would see their taxes go up.

So, about the wealthy: The prime example is the way G.O.P. plans would eliminate or sharply reduce taxes on inherited wealth, which currently apply only to a tiny number of huge estates. Yes, Republicans are still pretending that this is about helping small family businesses and family farms, but at this point that’s a sick joke: The best estimates suggest that only around 80 — eight-zero — of such businesses and farms pay any estate tax each year. This is about making wealthy heirs even wealthier.

So what we’re looking at here are a variety of measures that will close off opportunities for children who weren’t clever enough to choose wealthy parents.

Or to put it differently, the tax legislation Republicans are trying to ram through Congress with indecent haste, without hearings or time for any kind of serious study, looks an awful lot like an attempt not simply to reinforce plutocracy, but to entrench a hereditary plutocracy.

And, oh, the Trump family/business will reap an estimated $1,000,000,000 when the so called "death tax" is eliminated. That's right, $1,000,000,000 for Trump Inc. :eek: .
#14864409
I keep coming back to the current Trump/Republican plan to "overhaul" the tax structure because, IMHO, this is the big story of the moment. Of the year. Yes, slightly more important than who is groping whom or kneeling football players. What we have here is a MASSIVE transfer of wealth from the poor to the rich. Why? They already are billionaires and they will all die someday. Only thing I can fathom is that they want a gold toilet in each of their many mansions.

We’re really looking at an unprecedented level of dishonesty here. But what happens when you try to explain what’s going on? When Senator Sherrod Brown tried to point out, correctly, that the Senate G.O.P.’s tax bill heavily favors the rich, Senator Orrin Hatch exploded, calling it “bull crap” and asserting that he grew up poor (which is relevant why, exactly?).

But what’s the con about? The very incoherence of the arguments Republicans are making for their plans shows that it’s not about helping the economy, let alone ordinary families. It really is about making the rich richer, at everyone else’s expense. If this be bull crap, make the most of it.

And do not forget the $1,000,000,000 pay day for the trump family business once the "death" tax is eliminated.
#14864425
jimjam wrote: What we have here is a MASSIVE transfer of wealth from the poor to the rich. Why? They already are billionaires and they will all die someday. Only thing I can fathom is that they want a gold toilet in each of their many mansions.


Yeah, or they're maniacal elitists that believe they're doing the Lord's work. Many of these people do have a vision for the future direction of civilization, it's not just simple greed with them.
#14864429
jimjam wrote:Donald's supporters frighten me. They chose an inexperienced, thrice-married, narcissistic, failed businessman. Now they revel in his willful ignorance, his childish tantrums, and his lies—or they excuse these behaviors. Many Trump supporters seem to be more close-minded, more angry and defensive than ever.

Donald Trump isn't inexperienced. It's not like he's 21 or something. He just hasn't held public office before. Lots of people have been married multiple times. Today's world is embracing gay marriage and "delusions of transeur" if you will. I could live the rest of my life on the income from one year of Trump's "Apprentice" show alone. That sort of failure is to my liking. I do revel in his using the bully pulpit to be a bully toward the establishment. I absolutely love it. That's why I'd love to see Roy Moore win. I could care less about all the charges levelled at him. I know why it is being done and who is doing it. Sorry, if I have to embrace homosexual marriage, the establishment has to embrace the sexist pigs I send to Washington. The more politically incorrect or anachronistic they are, the more I want to send them to Washington. I wish Milo Yiannopolous would run so that we can blow up the LGBTQ solidarity as well.
#14864572
The top 0.2 percent. Some 11,300 American estates — about 0.2 percent — are estimated to be subject to the estate tax this year. The top tenth of income earners pay nearly 90 percent of estate taxes collected, and about one fourth of that total is paid by the richest 0.1 percent. The tax itself has been whittled down significantly. Until 2001, it applied to inheritances starting at $650,000 for an individual. Today, an inheritance must be larger than $5.49 million for an individual or $10.98 million for a couple for their heirs to be liable for any estate tax at all. Opponents of the tax say it taxes earnings twice. But more than half of the biggest estates consist of unrealized capital gains — like stocks that have appreciated without being sold — that have never been previously taxed.

A few dozen farmers, and even fewer minority business owners. About 80 family farmers or small-business people would be subject to the estate tax this year, according to an analysis by the nonpartisan Tax Policy Center — a far cry from the “millions” Mr. Trump wrongly claims. The biggest winners in an estate tax repeal wouldn’t be struggling ranchers, minority contractors or mom-and-pop grocers. They’d be people like Mr. Trump’s kids.

“Only morons pay the estate tax,” Gary Cohn, Mr. Trump’s chief economic adviser, told Senate Democrats.

Sivad wrote:Yeah, or they're maniacal elitists that believe they're doing the Lord's work. Many of these people do have a vision for the future direction of civilization, it's not just simple greed with them.


No offense my friend but, it seems, your understanding of human nature needs a little work. I suspect that Leona Helmsley outlined this "vision" very succinctly when she uttered these immortal words:

Image

"We don't pay taxes. Only the little people pay taxes."



blackjack21 wrote:Donald Trump isn't inexperienced. It's not like he's 21 or something. He just hasn't held public office before. Lots of people have been married multiple times. Today's world is embracing gay marriage and "delusions of transeur" if you will. I could live the rest of my life on the income from one year of Trump's "Apprentice" show alone. That sort of failure is to my liking


I agree that the man has been quite successful at making money while operating a top down family owned business where decisions are primarily made by one man. He appears incompetent, however, in being able to operate within the structure of checks and balances which was designed hundreds of years ago by the founding fathers. He does appear to be learning, albeit slowly as his personality and experience favors a godfather like organization.
#14865270
Donald said that the tax bill was so tough on rich people, he wanted “just to give them something” by eliminating the estate tax. :eek: :lol: :lol: :lol:

Boy is this guy ever full of shit.................
#14865272
jimjam wrote:Over all, the nonpartisan Tax Policy Center estimates that by 2027 almost 80 percent of the gains from the plan would go to the top 1 percent, just 12 percent of the gains to the middle 60 percent of Americans — and that more than a quarter of middle-class families would actually see their taxes go up.

That's excellent timing. Trump won't be in office by 2027.
#14866664
The bill Republican leaders are trying to ram through this week without hearings, without time for even a basic analysis of its likely economic impact, is the biggest tax scam in history. One way or another, the bill would hurt most Americans. The only big winners would be the wealthy — especially those who mainly collect income from their assets rather than working for a living — plus tax lawyers and accountants who would have a field day exploiting the many loopholes the legislation creates.

The core of the bill is a huge redistribution of income from lower- and middle-income families to corporations and business owners. Corporate tax rates go down sharply, while ordinary families are nickel-and-dimed by a series of tax changes, no one of which is that big a deal in itself, but which add up to significant tax increases on almost two-thirds of middle-class taxpayers.

Oh, and ignore claims that tax cuts for corporations would jump-start the economy and pay for themselves. Of the 42 ideologically diverse economists surveyed by the University of Chicago on the impact of Republican tax plans, only one agreed that they would lead to substantial economic growth, while none disagreed with the proposition that they would substantially increase U.S. debt.

So it’s a giant scam. And while the exact nature of the scam may be unclear, ordinary American families would end up being the victims either way.

So will they manage to pull off this giant con job? The reason they’re rushing this to the Senate floor without a single hearing, without a full assessment from Congress’s own official scorekeepers, is their hope that they can pass the thing before people figure out what they’re up to.

The below picture shows armed police overpowering and handcuffing two dangerous looking women who had the audacity to object to the scam. If they had been protesting a democrat bill, Shawn Hannity would piously claim that they were exercising their right to free speech. As it is, Shawn could very well declare that they were possible suicide bombers receiving their just reward.

Image
#14866710
jimjam wrote:Corporate tax rates go down sharply, while ordinary families are nickel-and-dimed by a series of tax changes, no one of which is that big a deal in itself, but which add up to significant tax increases on almost two-thirds of middle-class taxpayers.

Basically, it's great for corporations and red states, and not so good for blue states. If they lose their state and local tax deductions, they won't get nearly as much of a tax cut. So basically, blue states won't get as much as the red states.

jimjam wrote:The below picture shows armed police overpowering and handcuffing two dangerous looking women who had the audacity to object to the scam. If they had been protesting a democrat bill, Shawn Hannity would piously claim that they were exercising their right to free speech. As it is, Shawn could very well declare that they were possible suicide bombers receiving their just reward.

Disorderly conduct is not synonymous with freedom of speech.

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