Author Topic: Politics decides: tax cuts or tax hikes (2 views)  (Read 233 times)

Offline expat_panama

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Politics decides: tax cuts or tax hikes (2 views)
« on: February 10, 2017, 04:25:33 AM »
http://www.ozy.com/pov/the-trump-tax-cut-how-much-how-soon-how-certain/75641

The Trump Tax Cut: How Much, How Soon, How Certain

Grover Norquist   FEB 09 2017

...then-candidate Trump unveiled an outline for a huge tax cut. It was a grab bag of popular measures: Kill the Death Tax, repeal the Alternative Minimum Tax (AMT) and cut individual tax rates...   ...So what can we reasonably anticipate in a new tax plan? And what remains in contention?

Very Likely:

1. Abolition of the Death Tax...

2. Repeal of the Alternative Minimum Tax...

3. Tax cuts for individuals...

4. Tax cuts for corporations...

5. Business investment will be fully and immediately expensed.

6. The U.S. will move from a worldwide system of taxation to a territorial system, where American companies earning abroad may be repatriated without penalty...

Up for Debate:

1. Removal of the border adjustable tax...

2. Elimination of interest-payment deductions...

3. Deferral of capital gains taxes for “like-kind” exchanges...

The Trump tax plan has been a communal effort, borrowing from other candidates and House Republicans...


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http://www.investors.com/politics/editorials/why-are-republicans-pushing-brand-new-taxes/

Why Are Republicans Pushing Brand New Taxes?

Editorial   2/09/2017

Politics: In the month since Republicans took control of the House, Senate and White House, they've been talking a lot about taxes. Unfortunately, the talk is about adding two entirely new taxes to the code.

Earlier in the year, House Republicans spent several days talking up the idea of a new 20% border tax, the folly of which we discussed in this space recently.

This week, a group of old-guard Republicans and business leaders — including Reagan administration officials, former Wal-Mart chairman Rob Walton, and venture capitalist Thomas Stephenson — were in the White House pitching a new carbon tax to fight global warming.

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[my take: politics may be all sorts of fun for a lot of people but once in a while we all need to get back to work and earn a living.]


[mho]



 

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