TRUMP TAX PLAN MORE CONFUSION
~ T. Rump, Trump By Trump – 4-27-17
The White House yesterday unveiled its proposed tax cuts riddled with questions about a serious discussion of tax reform. Personally, I have a simple business and a 50-page tax return and am never happy to send money off to Washington. Trump and Republicans could concentrate on two things – a 1-page tax form and balancing the budget.
Trump wants tax cuts, but leaves many questions unanswered about how to pay for the other things He and politicians and the people want from government.
I have always said the problem with our taxes is that too many pay too little because of loopholes and exemptions. If you want reform, toss out the present 46 volume tax code and start over with a simple no loophole and no exemption plan with rates cut in half.
Trump wants slash the top rate from 39.6% to 35%. That could easily be done and more just by closing some loopholes or exemptions. He wants to reduce the number of total rates from 7 to 3 and that could be done but why? Trump also wants to cut the top tax rate for all businesses to 15% from 35%. That is foolish.
In my plan, income would be taxed the same rates whether a business or an individual. It is income. And now that the Supreme Court has declared corporations to be people in Citizens vs United, all income should be treated the same whether individual or business.
It seems that Trump has no plan for anything that may work or is even considered workable by Republicans who control the Senate and House and Presidency. His plans and Executive Orders so far have not contributed to a serious discussion of health care, the wall, immigration or tax reform.
If you can envision this, it is like if a headless President is strutting round the White House while the staff and government employees are struggling to manage the government without a leader.
See Trump at GaryBahr.com