Trump on ‘middle-class’ tax plan: ‘It’s not good for me’

by
September 28, 2017

Donald-Trump-Tax-CutsPresident Trump on Wednesday touted his plan to overhaul the nation’s tax system by promising it’s “not good” for wealthy individuals like himself.

“I’m doing the right thing, and it’s not good for me, believe me,” the president said.

Speaking in Indiana, Trump promised the plan will deliver on his promise to help his working-class supporters by lowering their taxes, creating new jobs and boosting wages.

He sought to sell the Republican plan to the public and counter criticism that it will simply create a windfall for the rich.

45 Comments - what are your thoughts?

  • Askjrsk says:

    Yes. I am from Oregon Democrat Senator from Oregon Bob Packeood, because Oregon has extremely high property taxes, made into law deducting state property taxes from federal taxes. Oregon is a communist state, too Lots of money to spend to make America unsafe. An Oregon judge let an illegal alien criminal rapist free out the back door, while waiting to be arrested by federal agents. Judges have big expensive multi properties as the ruling class. Oregon is able to charge high taxes because of this kickback from the federal government , that Oregon defies. Other states therefore subsidize Oregon to compromise the safety of all Americans. NewYork, California, Washington are all subsidized by fly over states.

  • roboteq says:

    I do believe President Trump when he says he is not working the system to enhance himself. Donald Trump has lived a really full life. Maybe the presidency is something he wanted as a power status or maybe he really and truly wants to make a positive impact for the country that gave him so many opportunities in life. Whatever the motive, Donald Trump is looking to enhance his legacy, not his bank account. I don’t believe anyone who has lived the life that Donald Trump has lived could fake working on behalf of the American people. If President Trump can turn the U.S. around the way he has turned his successful business’s around (yes, I know there were failures), I believe President Trump will have fulfilled his desire to give back to the country that gave so much to him.

  • bobnstuff says:

    I just figured out why Trump said the new tax plan isn’t good for him, He pays no taxes. That’s why we can’t see his tax returns. Many major corporations pay no taxes so tax cut give them nothing. He is right since you have to pay taxes to have them cut.

    1. chw2000 says:

      You swallow anything the Democrats tell you. You’re a puppet. And, an ass hole.

      1. bobnstuff says:

        So tell me how much did EXXON pay in taxes last year? How much did Trump pay in taxes last year?

        1. chw2000 says:

          The last time i checked, the top 3 oil companies paid an average of 35% of their net profits. As for Trump, it’s none of our business what he paid in taxes. Just as it is none of our business what you or i paid. Grow up lame brain!

          1. bobnstuff says:

            04.228785% This is EXXON tax rate from last year. This is from their P&L statement. Last year none of the companies paid a lot of taxes since profits were way down.
            https://www.msn.com/en-us/money/stockdetails/financials/fi-213.1.XONA.ETR?ocid=U147DHP

  • MARLENE HESSLER says:

    FLAT Tax would be better. As DR. Ben Carson said a few times, 10% is good for Our Lord, it should be good for OUR government. A flat 10% for everybody and NO DEDUCTIONS. NADA FOR ANYBODY. You make $10,000 a year, the tax is $1000. You make a million a year, the tax is $100,000. FAIR ENOUGH and it gets rid of the IRS, so it saves tons of $$$$$.

    1. bobnstuff says:

      The only problem is it take 17% to run the government. The only way to make 10% work is cut out the biggest expense, the military.

      1. MARLENE HESSLER says:

        There are lots of other things that can and should be cut other than military which is an absolute necessity. In fact, it is the only necessity.

        Cut out paying for solar

        Cut out food stamps

        Cut out all aid for foreign countries

        Cut out unnecessary federal agencies and return management to the states. Those would be EDUCATION, EPA, AND OTHERS. Then consolidate and reduce others like FAA, and the agencies that monitor travelers.

        Cut out subsidies for healthcare and shut down 0vomitcare. Just open competition across stateliness and let people make their own choices for insurance.

        PERSONAL RESPONSIBILITY MAKES STRONGER, BETTER PEOPLE.

        1. bobnstuff says:

          Cut all those programs and you have saved 6% of the budget. You need to cut 40% to get to your 10% tax number. To get to your 10% number you would have to cut out all spending by the federal government except military. everything including roads, weather forecasting, food safety the CDC etc. You seem to believe we spend a whole lot more on things then we do. The state already pay for most of the programs you want to send to them. less the 10% of the funding for education comes from the federal government. The EPA doesn’t have that big a budget and each state has there own EPA. Aid to foreign nations is $360 billion per year and 10% goes to Israel. The total budget is $3.65 Trillion.

          1. MARLENE HESSLER says:

            $3.65 trillion is a lot more than just the military.

            Cutting all expenditures to below the $3 trillion figure just might enable reducing the National Debt and the waste of that interest expense.

          2. bobnstuff says:

            You can’t touch SS or medicare. They take up a lot of that budget as does interest on the debt. The only place you can get half a trillion form in the budget is the military. To cut the debt we only need to cut spending by 2.6% but republicans only give lip service to real spending cut. The thing to remember is the republicans have controlled the budget for the last seven years. All spending bills must come from the house. The President or the senate for that matter can’t spend a dine without the house approving it.
            http://www.military.com/daily-news/us-military-budget

          3. MARLENE HESSLER says:

            Freeze Federal hiring til 10 % reduction

            ANother BRAC overseas

            Cut congressional staffs &Bennies

            Long list of nonessentials

          4. bobnstuff says:

            Just freezing hiring is about as stupid an idea as you can get. People don’t quit non essential jobs. Cutting the federal work force yes but just a freeze on hiring is not a good idea. Also do you know what the the Congressional staff does? Who do you think answers all those letters they get or help there continuance with problems. Who staffs the office around their states. If you want to cut cost how about not hiring people to do the job the military once did like cooking their own food or fixing their own vehicles. Maybe even stop hiring guards for our embassies at a $100,000 a year instead of using Marine’s. I’m all for cutting government waste but lets do it right. We cut people who save money like the people at the IRS and workers in the welfare office that proven fraud but waste money changing signs on buildings every time congress renames something. I’m all for spending money wisely and cutting costs but lets do it right.

          5. MARLENE HESSLER says:

            Your first statement shows you don’t know squat.

            There is normal 5% attrition on federal jobs every year.

            So, freezing hiring will reduce the federal workforce 5% per year.

            And, it will NOT FORCE A Reduction In Force (RIF) which would force the government to totally readjust jobs across the field. And, it would bring about $25,000 payments for people to leave their jobs. A RIF is a very expensive proposition which is REQUIRED when cutting the force 5% or more.
            So, at least 2 years of FREEZING HIRING is the smartest option. Follow that with a 2 for 1 deal. That is hiring one when 2 leave. Do that for another 2 years and we might be closer to rightsizing the workforce.

            The Congressional staff is oversized. 5% reduction would be a good beginning.

            The IRS SAVES $$$$ Now you are joking. That’s sheer BS. And, a flat tax could take out that entire wasted field.

            I will agree on welfare reductions. Welfare itself needs to be reduced AND HAVE WORK REQUIREMENTS.

            And a BRAC on numerous bases overseas and maybe a few CONUS as well would be positive moves.

          6. bobnstuff says:

            So who the employee is or what there skills makes no difference you think all employees are created equal. In the real world it’s not that easy.

          7. MARLENE HESSLER says:

            Sorry bobnstuff. It is exactly that easy.

            It is how it normally works.

            A person leaves and duties are redistributed. Happens all the time.

            BTW, I worked in DoD acquisition as a contracting officer for nearly 30 years, so I do have some experience.

            And, in a RIF, it’s a lot worse as a Contract Specialist one day can be a lifeguard at the pool the next. That is NOT an exaggeration. It has happened.

          8. bobnstuff says:

            So a person with expertise in one area can do all other jobs just as well even if they have no qualifications for it. This is no way to have a well run government. I have own and run a number of businesses for forty five years and I know you can’t just drop a person into just any job and expect the job to be done well. You can get away with it sometimes but in most cases it is a bad idea. I’m not saying that government can’t be reduced but lets do it as effectively as possible. If we had the best person we could in every job we could cut cost, waste and give the best value for our tax dollar. Oh and your contract specialist had better had certification for the lifeguards job.

          9. MARLENE HESSLER says:

            The RIF regulations take into consideration ALL prior jobs that are spelled out by the particular person. So, if you were ever a lifeguard, you can always be a lifeguard in theory.

            In the lower level jobs of clerks, yes a body is a body is a body.

            To be a Contract Specialist requires certification. Even more than the lifeguard.

            There are limitations, of course. But, with the overstaffing, it is fairly easy to accommodate the 5% annual attrition without running out to hire. In fact, most Contract Specialists come in through intern programs.

          10. gvette says:

            Bob, you forgot. We pay into SS. It’s not a gift.

          11. bobnstuff says:

            That’s why you can’t cut it. There are people in congress that feel they can, Paul Ryan for one.

          12. gvette says:

            Actually when it was brought up, another one of your left wing rats said, we don’t need no stinken budget.
            That was Nancy Pelosi.

          13. bobnstuff says:

            Well since the republicans seem to have a problem passing them she might be right. Do you see a budget yet, It’s due on Sunday.

      2. Gary Smith says:

        Are you crazy you sound likeObama

        1. bobnstuff says:

          I can do math. Our president has some problems in that area. So does congress. The math is simple, you take how much you spend and you take taxable income then you calculate what percent of that taxable income equals the government spending. If you change one then you must change the other to keep things in balance. You can tax and spend but you can spent and not tax. It’s simple math.

          1. gvette says:

            LMAO..you can do Obama math. There is a difference!

          2. bobnstuff says:

            So you thing you can spend money without collecting money. Isn’t this what conservatives have been complaining about. you don’t think you should balance the budget first then if there is money left over cut taxes? Sounds like Bush math.

          3. gvette says:

            Funny you should talk budget. If you remember, in the 8 years of onigger, there was no budget, that IS required by law.

          4. bobnstuff says:

            There were budgets but remember the congress passes the budget, not the president and every budget Obama sent to congress was DOA. All spending bill start in the house and guess who has had control of the house. I find it funny that I’m the one fighting for a balanced budget and you are giving me a hard time. I believe in
            fiscal responsibility. The government needs to be able to pay it’s bill. If the budget was balanced and there was a surplus then taxes should be cut but until that time if anything they should be increased. On voodoo economics. Cutting taxes does not increase revenue, even Reagan had to raise taxes.

  • bobnstuff says:

    I’m for true tax reform, get rid of corporate welfare and make is simple but the tax cuts I have seen are going to be a big giveaway for people like Trump and do little or nothing for the middle class. So far the cuts I have seen are Capital gains tax cuts, corporate tax rate cuts, the estate tax elimination, all things that the rich will get the biggest benefit from. The so call cuts for the average Joe will be very small and the base rate is going up by 2%. So when a person who’s income is all from capital gains and corporate profits tells me he isn’t going to benefit I have to wonder. The other problem is where is the money going to come from to pay the bill. I have heard a lot about military spending going up, infrastructure spending and a wall. Who will pay for all these things? These tax cuts will create jobs? History says no but even if they do where are these workers to fill these jobs coming from? We have low unemployment now and a record number of job openings. Unless these jobs are for unskilled workers and are in places like West Virginia we have no one to take them.

  • disqus_BAvz0LV7zw says:

    This new tax plan is not good for me. It will raise my tax payment.
    As a single filer, the doubled standard deduction falls short of my itemized deduction. I pay so many other taxes aside from the federal income tax. Medical premiums are eliminated. Personal exemptions are repealed. My taxable income goes higher with this new tax plan.
    I DON’T LIKE THIS NEW TAX PLAN!!

  • Uncle Pat says:

    This is something ALL Americans should want.I do not wish to pay more tax on my meager income as a retired man.

    1. bobnstuff says:

      As a retired person if you have a meager income you are paying little taxes now and the taxes saving for you under these cuts is very small if anything. For every cut they are giving you they are taking away a deduction. To pay for this tax plan they are going to cut programs, some of witch you benefit from. True tax reform is a good thing but is this tax reform or just a way to redistribute wealth.

      1. Uncle Pat says:

        I never stated my income. Meager to me must be much less to you, Our President is NOT redistributing wealth , he is making opportunities for the middle class which were TAKEN AWAY by the previous President. I have no need for ANY government programs with the exception of the social security which I paid for.

        1. bobnstuff says:

          Who does the taxes cut give the biggest benefit to? Investors and corporations as well as the estates of wealthy people. Who’s base rate is going up? the bottom income tax payers. Unless you are pulling in over $100,000 per year in capital gains right now the cut in the rate will do nothing for you and with the other deductions they are planning to cut your taxes will likely go up not down.

          1. gvette says:

            You don’t even know what it consists of. You’re getting your news from the far left, as usual!

          2. bobnstuff says:

            Well the Christian Science Monitor and the National Review both spend their time talking about the corporate tax cuts and say nothing about cutting taxes for the middle class. I wouldn’t call either of those publication far left.

          3. gvette says:

            Good God Bob, they are both liberal!

          4. bobnstuff says:

            You haven’t a clue, these are two of the most conservative publications in the country. I guess a tabloid conservative wouldn’t know that but you just showed how little you know.
            https://www.thoughtco.com/top-conservative-magazines-3303617

        2. ABO says:

          bobnstuff doesn’t want to know what your income is, Uncle Pat. bobnstuff thinks he sees all and knows all. Without any consideration of facts or stats he rolls ahead, making up his own ‘facts’ and ‘stats’ as he goes along so that all of it fits his agenda perfectly. His upcoming response to your post is a perfect example of such. He has obviously not read a word of the proposal and hasn’t a clue what he’s talking about, yet continues to pass off his moronic BS as fact.

          1. Uncle Pat says:

            Thank you for pointing out the obvious, I did not respond as I had left my computer and had some fun at our local firing range.

          2. ABO says:

            Tight groups I hope 🙂

          3. Uncle Pat says:

            As a matter of fact very tight with my trusty old 9mm. Not so good, but still well placed with my new S&W…

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