Tax Reform / Infastructure

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
[b]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!?? [/B]

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:

Reduces the top corporate rate from 35 percent to 20 percent.

Allows for immediate expensing for at least five years for new investments in depreciable assets other than structures purchased after Sept. 27, 2017.

Partially limits interest deductibility by C corporations. Details on the limitation are not provided.

Eliminates the corporate alternative minimum tax (AMT).

Keeps the research credit and low-income housing credit. All other business credits are to be evaluated by Congress as part of the tax reform process.

Eliminates the Section 199 domestic production activities deduction and eliminates or restricts many industry-specific exclusions and deductions.

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?