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Trump proposes more tax cuts - and no way to fund them

Discussion in 'Too Hot for Swamp Gas' started by l_boy, Aug 7, 2024.

  1. l_boy

    l_boy 5500

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    Trump Dangles New Tax Cut Proposals With Real Political Appeal

    He has callled for ending taxes on social security, which not only increases deficits, it also makes the social security fund run out faster because those taxes are used to fund social security benefits.

    Elsewhere he has proposed tip income be tax free.

    What a disaster.
     
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  2. Gatorhead

    Gatorhead GC Hall of Fame

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    Just wait until he sacks Ft Knox and puts solid gold cladding around Mar a puke o.
    And of course making his solid gold statue of himself, in the center of the complex, word is, it will be larger and taller than the colossus of Rhodes.
     
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  3. sierragator

    sierragator GC Hall of Fame

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    Then the gop will turn around and blame the resulting deficit on the dems. Freakin hypocrites.
     
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  4. thomadm

    thomadm VIP Member

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    Whatever it takes to upend the apple cart, Im all for it. Cut taxes massively, cut prime rates by half or more and increase spending 2-3X current federal budget level.
     
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  5. sierragator

    sierragator GC Hall of Fame

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    So crash it, burn it all down. Dystopian fantasy much?
     
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  6. BLING

    BLING GC Hall of Fame

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    [​IMG]
     
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  7. thomadm

    thomadm VIP Member

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    So you are in favor of taxing Seniors that contributed to SS for their entire working lives? The govt gives you $ and asks for some of it back. That makes alot of damn sense...
     
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  8. okeechobee

    okeechobee GC Hall of Fame

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    I’ll take the tax cuts. My money in the first place. Not my problem the government won’t balance their books.
     
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  9. Emmitto

    Emmitto VIP Member

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    omechomeme

    Charity starts at home!
     
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  10. OklahomaGator

    OklahomaGator Jedi Administrator Moderator VIP Member

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    The discussion on not taxing tips is that the tip can be considered a gift. Gifts by one individual to another are not taxed until they exceed $18,000 in one year. Interesting thought, worthy of discussion.
     
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  11. l_boy

    l_boy 5500

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    No, not really.

    1. It is income. Payment given for services rendered
    2. Gifts are not really taxed. Gifts over the annual minimum of now $18k reduce the total estate tax exemption you have, which is now over $12 million or $24million for a couple. So unless you die with over $12/24 million exceeding the annual gift tax amount is a non event.
     
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  12. LimeyGator

    LimeyGator Official Brexit Reporter!

    Do you guys have an independent office for economics etc, which looks at election/manifesto promises?

    We have one over here but it's been downplayed a lot previously - then Labour got in and found basically £20bn of unfunded promises / exchequer 'black hole' in the public purse, left behind by the Tories.

    I have many loathings about politicians, but my biggest peeve is promising stuff that doesn't stack up economically. Just wondering how you guys go about validating these promises?
     
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  13. mikemcd810

    mikemcd810 Premium Member

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    We don't. We let them lie to us and then vote for them again anyway simply because of the letter next to their name.

    Then we go on message boards and complain that the person with the letter we don't like is actually the bigger liar.
     
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  14. g8trjax

    g8trjax GC Hall of Fame

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    Lol, these tax the shit out of you lefties live in lala land.
     
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  15. G8R92

    G8R92 GC Hall of Fame

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    Here's my thought. I convert all of my hourly employees to tipped employees so I can have my customers "gift" them their income, saving me boatloads on all associated taxes and insurance levied on my payroll.
     
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  16. G8R92

    G8R92 GC Hall of Fame

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    GOP platform feels the same way. No plank about balancing the books or deficit reduction. Boomers racking up the bill leaving generations below with the tab.
     
    Last edited: Aug 8, 2024
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  17. gatorchamps960608

    gatorchamps960608 GC Hall of Fame

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    You should see the proposal on that tip thing. It ain't for waiters and waitresses though he wants the rubes to think so. It's for like hedge fund managers.
     
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  18. QGator2414

    QGator2414 VIP Member

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    I assume you are not in a service industry where tips are expected. Good luck getting employees that are going to rely on your customers to tip them if so. And good luck getting your customers trained to honorably tip enough to support your payroll.
     
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  19. WC53

    WC53 GC Hall of Fame

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    Most would also vote for no gas taxes even if it meant no road repairs.
     
  20. sierragator

    sierragator GC Hall of Fame

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    The gop only give a shit about it when a d is in office.
     
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