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Thread to talk about all things Tax / Infastructure

Trump hosts Bi Partisan Dinner at WH this evening.

Malaysia PM at White House: Malaysia Fund wants to invest in Trump Infastructure plan.

Down with Taxes. Starve the Government.

I've long been a supporter of a big infrastructure project. Don't really know specifics about Trump's plan in particular but I think it would probably be the easiest thing for him to achieve as there is bipartisan support for the idea.

I still don't understand why he didn't lead off with infrastructure as his first big legislative ticket for his administration, which is much less controversial than something like Obamacare repeal.

Tax reform, I think it will end up being less "reform" and more just normal tax cuts on a temporary basis.

So what would the big infrastructure project be?

Originally posted by ArtificialGlory
So what would the big infrastructure project be?

Usually, people mean Transportation Infrastructure and energy related projects. Part of that can include networking technologies and technology (smart tech) to help with Transportation.


https://www.wired.com/2017/01/not-screw-spending-1-trillion-us-infrastructure/

Originally posted by ArtificialGlory
So what would the big infrastructure project be?

New York subway is falling apart. Many highway bridges and junctions are in danger of collapse. Water security for california, nevada, new Mexico etc to protect against future drought. Flood protection for hurricane risk states.

Take your pick.

Funny that the NYC Sub Systme is falling apart....with with the RIDICULOUSLY High Taxes you have to pay in that state....I wonder what they are DOING WITH THAT MONEY!??

Originally posted by Flyattractor
Funny that the NYC Sub Systme is falling apart....with with the RIDICULOUSLY High Taxes you have to pay in that state....I wonder what they are DOING WITH THAT MONEY!??

Giving it to Wall St obviously.

Originally posted by jaden101
Giving it to Wall St obviously.

Well it is a BLUE CITY after all.

Trump to Host Schumer and Pelosi at White House for Dinner to talk tax reform.

Top 10% of wage earners pay 60% of all taxes, the top 1% pay 40%.

Democrats say the rich are not paying enough tax. So how much more should they pay?

And does this include themselves?

I hear Trump's new tax plans head towards getting rid of the Death Tax.

This is a good thing.

I think my math was wrong.

50% of the country doesn't pay taxes.

So 40% of the country pays 70% of the taxes and 10% of the country pays the other 30%.

Originally posted by Sable
Top 10% of wage earners pay 60% of all taxes, the top 1% pay 40%.

Democrats say the rich are not paying enough tax. So how much more should they pay?

And does this include themselves?

By you math the top 10% and top 1% together pay all the taxes? Yeah, I don't think that's right. The Middle Class pay the lion's share still, most likely.

Don't worry though, from what I seen of Trump's plan, the biggest tax breaks are going to corporations and the very top earners. I know, shocking.

Originally posted by Sable
I think my math was wrong.

50% of the country doesn't pay taxes.

So 40% of the country pays 70% of the taxes and 10% of the country pays the other 30%.

Well that makes more sense, with the 70% being paid by the Middle Classers.

Here's Trump's plan:



I'm just curious, if corporations (and by extension people's incomes listed as corporations, millionaires and billionaires can do this) are getting a 15% reduction, who is picking up that slack? Cos the monkey's still gotta get fed, man.

edit: Yes, Trump will be eligible to put his earnings under the new Corp Tax bracket, meaning him and his buddies will be paying at the 20% rate. Oh Trumpers...

How about we have a conversation without "oh Trumpers" or did you just want to mock me while I was trying to have a civil conversation with you?

Maybe the Government can learn to do with LESS MONEY!

Ever THINK about that ROBBIE!?

Originally posted by Sable
How about we have a conversation without "oh Trumpers" or did you just want to mock me while I was trying to have a civil conversation with you?

Fair enough and I apologize there

But it seems to me this tax plan is basically at it's core a giant boon to the top 1%, corporations and the uber wealthy who can list their personal earnings/profits under corporate status and will then get a nice tax rate of only 20%. (wouldn't you like to be taxed at only 20%?)

How does that make you feel and where do you think the money's going to come from to make up that 15% loss now, as the country runs on money?

30 years of special interest and loopholes need to come out. I still have not read all of the details.

Right now I have an LLC, yet to file under S Corp. So we'll see.

Originally posted by Robtard
Fair enough and I apologize there

But it seems to me this tax plan is basically at it's core a giant boon to the top 1%, corporations and the uber wealthy who can list their personal earnings/profits under corporate status and will then get a nice tax rate of only 20%. (wouldn't you like to be taxed at only 20%?)

How does that make you feel and where do you think the money's going to come from to make up that 15% loss now, as the country runs on money?

Yes some rich will pay less tax in the % numbers but they won't get state and local tax deductions anymore. So they will end up paying more money overall.

The important thing is the middle class needs to get the majority of the tax cuts, and the biggest percentage of them. Otherwise, this will not have much of a practical positive effect.

Originally posted by BackFire
The important thing is the middle class needs to get the majority of the tax cuts, and the biggest percentage of them. Otherwise, this will not have much of a practical positive effect.

The MC pay the lion's share now, so if you give them a considerable break, the money has to come from somewhere else and the corps/1%ers will not be picking up that slack. Unless you believe in the trickle down theory where giving the rich more of break means they won't keep those extra profits but instead reinvest in ways that promote positive income to people and thereby then to the government.

Call me a cynic, but the ultra wealthy like staying as wealthy as they can, generally speaking.

Originally posted by Robtard
The MC pay the lion's share now, so if you give them a considerable break, the money has to come from somewhere else and the corps/1%ers will not be picking up that slack. Unless you believe in the trickle down theory where giving the rich more of break means they won't keep those extra profits but instead reinvest in ways that promote positive income to people and thereby then to the government.

Call me a cynic, but the ultra wealthy like staying as wealthy as they can, generally speaking.

Yeah I'm not a supporter of the trickle down theory. It at best is a short term improvement that has very severe long term consequences, and in the end, the rich just end up hoarding the extra money anyways so it has no real benefit. It just sends more money to the rich on the backs of the middle class, and while some of these people may "create jobs", that doesn't generally last.

Really if you're going to have any meaningful tax cuts then the middle class needs to get them, and the small local business owners, while the wealthy pay more or you make up the means elsewhere (neither of which are likely to happen).

Originally posted by Sable


50% of the country doesn't pay taxes.

So 40% of the country pays 70% of the taxes and 10% of the country pays the other 30%.

Reposting this for relevancy, this is our current tax code. How is it lined up for the rich when the poor don't pay tax.

Originally posted by BackFire
The important thing is the middle class needs to get the majority of the tax cuts, and the biggest percentage of them. Otherwise, this will not have much of a practical positive effect.

So the rich have to pay more, how much more can they pay at 39%, not including state and local? Which ends up being like 55%

Sure I'm all for taxing the rich, seeing as the rich whom have lobbiests to represent them (Amazon, Microsoft, Apple, Walmart) end up getting to right the tax laws. How do you may them pay more then 55% and call that fair?

And where is all the Rich people like Hillary, Obama, Buffet, Gates, why are they not lining up to pay more?

Originally posted by Sable
Reposting this for relevancy, this is our current tax code. How is it lined up for the rich when the poor don't pay tax. Because the not rich who do pay taxes pay the lion's share.

But sure, I'm all for everyone paying taxes, aside from special cases like someone being seriously disabled, the elderly in some cases etc.

I also feel we really need to hammer down on people who abuse the wealth fare systems we have, like food-stamps, disability payments, workers comp etc. Get those leeches who really don't need it and could work off our tax dollars. Shit, deport them to international waters for the crime.

Originally posted by Sable
Top 10% of wage earners pay 60% of all taxes, the top 1% pay 40%.

Democrats say the rich are not paying enough tax. So how much more should they pay?



Yet we have the top earners still making most of the money because of globalization and "betting" on the stock market.


Most of the wealth created isn't from creating new jobs its betting on the stock market.

Originally posted by Sable
So the rich have to pay more, how much more can they pay at 39%, not including state and local? Which ends up being like 55%

Sure I'm all for taxing the rich, seeing as the rich whom have lobbiests to represent them (Amazon, Microsoft, Apple, Walmart) end up getting to right the tax laws. How do you may them pay more then 55% and call that fair?

And where is all the Rich people like Hillary, Obama, Buffet, Gates, why are they not lining up to pay more?

Well Buffet has for years stated that he thinks he should pay more in taxes, and that his secretary pays a larger percentage than he does.

Something you may not be considering is that the rich also have the means to hire high end tax attorneys and find various loopholes in the tax code that they can exploit, that normal people simply don't have the means or the money to take advantage of.

I'm not really arguing that the rich NEED to pay more than they currently do. Just that if you are going to do tax cuts, they need to target the middle class. Targeting the rich is not going to offer a benefit for most people.

Originally posted by Robtard
Because the not rich who do pay taxes pay the lion's share.

But sure, I'm all for everyone paying taxes, aside from special cases like someone being seriously disabled, the elderly in some cases etc.

I also feel we really need to hammer down on people who abuse the wealth fare systems we have, like food-stamps, disability payments, workers comp etc. Get those leeches who really don't need it and could work off our tax dollars. Shit, deport them to international waters for the crime.

Loopholes, special interest, deductions for state and local taxes, slow the growth rate of Medicare, stop bringing in illegal immigrants, waste fraud and abuse.

11 million illegal immigrants generate 19 billion in tax revenue but cost the country $135 billion a year. How this makes sense on keeping them here is beyond me. At some point we have to say no.

$70 billion a year is spent on college education. If we cut illegal immigration by half, we could pay for every person to go to school.

No one thinks about these things.

AFAIK, nobody is stopping Buffet from writing he government a check.

Originally posted by BackFire
Well Buffet has for years stated that he thinks he should pay more in taxes, and that his secretary pays a larger percentage than he does.

Something you may not be considering is that the rich also have the means to hire high end tax attorneys and find various loopholes in the tax code that they can exploit, that normal people simply don't have the means or the money to take advantage of.

I'm not really arguing that the rich NEED to pay more than they currently do. Just that if you are going to do tax cuts, they need to target the middle class. Targeting the rich is not going to offer a benefit for most people.

It's a lame excuse, there is a line to voluntarily pay more, he doesn't. It's a cut out "look at me I'm willing but I don't."

I agree, it's not going to, but if you listen to Pelosi and Schumer that's all you hear them say. "This is class warfare!" Chuck Schumer

Originally posted by BackFire
I'm not really arguing that the rich NEED to pay more than they currently do. Just that if you are going to do tax cuts, they need to target the middle class. Targeting the rich is not going to offer a benefit for most people.

Under this new code many of them will be paying less. As noted, if you're diverse and wealthy enough you can could claim your earnings and profits at a corporate status, which will now be taxed at a mere 20% from the previous 35%.

Originally posted by Robtard
Fair enough and I apologize there

But it seems to me this tax plan is basically at it's core a giant boon to the top 1%, corporations and the uber wealthy who can list their personal earnings/profits under corporate status and will then get a nice tax rate of only 20%. (wouldn't you like to be taxed at only 20%?)

How does that make you feel and where do you think the money's going to come from to make up that 15% loss now, as the country runs on money?

hey rob. see you're still in character

Hey raisen. Welcome back

Originally posted by Robtard
Hey raisen. Welcome back

thanks bro. had shoulder decompression surgery. shaved some bone spurs. took out the CA ligament. cleaned up a torn bicep.

sucks. it's crazy how the same people are bickering back and forth.

Damn, now you can't dodge the draft, no spurs :0

Different day, same shits

Looking at the numbers some more, the top 10% is paying 70% of the taxes in this country.

"The top 10 percent of taxpayers paid over 70% of the total amount collected in federal income taxes in 2010, the latest year figures are available, according to the Tax Foundation, a think tank that advocates for lower taxes. That's up from 55% in 1986.

The remaining 90% bore just under 30% of the tax burden. And 47% of all Americans pay hardly anything at all.

http://money.cnn.com/2013/03/12/news/economy/rich-taxes/index.html

Originally posted by Robtard
Fair enough and I apologize there

But it seems to me this tax plan is basically at it's core a giant boon to the top 1%, corporations and the uber wealthy who can list their personal earnings/profits under corporate status and will then get a nice tax rate of only 20%. (wouldn't you like to be taxed at only 20%?)

How does that make you feel and where do you think the money's going to come from to make up that 15% loss now, as the country runs on money?

Well he'll at least have cut tax avoidance by 15% as corporations will only be avoiding a 20% rate now instead of 35%

Corporations don't pay taxes, they collect them.