Trump socialism

[farmstud60]

Originally Posted by txdot-guy

Yes it’s doable. But only if we start raising revenues. That means raising taxes. Taxes up and down the income ladder. Every single person will have to pay at least a little bit more. The more income the higher the rate.

Good luck getting anyone in congress to vote for that.

WRONG 1000% wrong. Raising tax rates has never been the answer. Gingrich/Clinton proved this from 1994 to 1998.

Reducing spending only way this will happen.

[pxmcc]

Originally Posted by farmstud60

WRONG 1000% wrong. Raising tax rates has never been the answer. Gingrich/Clinton proved this from 1994 to 1998.

Reducing spending only way this will happen.

realistically, it's both. we're in a huge hole from years of "just put it on my tab."

[txdot-guy]

Originally Posted by farmstud60

WRONG 1000% wrong. Raising tax rates has never been the answer. Gingrich/Clinton proved this from 1994 to 1998.

Reducing spending only way this will happen.

And it was followed up with more tax cuts under Bush and massive spending on the war on terror. And then the 2008 housing collapse.

At this point cutting taxes even further is not the answer.

[farmstud60]

Originally Posted by txdot-guy

And it was followed up with more tax cuts under Bush and massive spending on the war on terror. And then the 2008 housing collapse.

At this point cutting taxes even further is not the answer.

The first thing that needs to be done is banning baseline budgeting from the Federal government.

Second thing is to get rid of static analysis of tax rate changes.

Third is to scrap the power grabbing micro managing progressive income tax code and replace with a flat tax.

[txdot-guy]

Originally Posted by farmstud60

Third is to scrap the power grabbing micro managing progressive income tax code and replace with a flat tax.

I’m not sure what the solution will be but it certainly will not be a flat tax. My guess is a combination of spending cuts with corresponding increases in all tex rates in all tax brackets and increases in the capital gains tax rates and increases in the inheritance taxes as well. If they could clean up the tax code at the same time that would be helpful as well. Anything that increases efficiency in the tax system is a net benefit to everyone but the tax preparation industry.

[farmstud60]

Originally Posted by txdot-guy

I’m not sure what the solution will be but it certainly will not be a flat tax. My guess is a combination of spending cuts with corresponding increases in all tex rates in all tax brackets and increases in the capital gains tax rates and increases in the inheritance taxes as well. If they could clean up the tax code at the same time that would be helpful as well. Anything that increases efficiency in the tax system is a net benefit to everyone but the tax preparation industry.

You don't get it, open your eyes, The tax code is too complicated and when you get to complicated tax returns that small business owners file there is no correct tax amount do. 10 accountants and 10 IRS agents will go over the return and get 20 different answers for the amount of tax owed.

[txdot-guy]

Originally Posted by farmstud60

You don't get it, open your eyes, The tax code is too complicated and when you get to complicated tax returns that small business owners file there is no correct tax amount do. 10 accountants and 10 IRS agents will go over the return and get 20 different answers for the amount of tax owed.

Nonetheless our budgetary priorities must include spending cuts, or operational efficiencies, or more revenue or better yet a combination of all three. It requires the ability for our elected representatives to come together and take responsibility for the problems our previous administrations have created.

[farmstud60]

Originally Posted by txdot-guy

Nonetheless our budgetary priorities must include spending cuts, or operational efficiencies, or more revenue or better yet a combination of all three. It requires the ability for our elected representatives to come together and take responsibility for the problems our previous administrations have created.

Step one Get rid of baseline budgeting.

Otherwise total lies about budgets.

[txdot-guy]

Originally Posted by farmstud60

Step one Get rid of baseline budgeting.

Otherwise total lies about budgets.

Please tell us why you think baseline budgeting is bad and what you would replace it with.

[eyecu2]

I agree with farm dude on the aspect of having an absolute minimum tax or flat tax. There are way too many people that are paying nothing and laying the burden on the middle class. Just because there are write-offs on things like unrealized net losses, or depreciation that helps Real estate folks sit on garbage property just to write it off. Too many line items and other things. I'd say more like a min tax of 10% of all income regardless of net income or net operating costs. This would keep ppl from cooking the books.

There will always be ppl who under report but at least the majority will be paying 'something' vs nothing.

[DEAR_JOHN]

Originally Posted by pxmcc

China plays dirty. They subsidize their manufacturing, which then dumps their crappy products on clueless Americans below cost. fuck China.

Originally Posted by Texxan52

Trumps plan for a 100% tariff on foreign made cars is pure socialism. A Capitalist would say if US Automakers can't compete so be it. What do you high school graduate economist think?

This has been going on for many years, so it's nothing that just was started. Here's an example, for years I've posted on performance car forums and one thing that gets people going is buying a set of headers for a car. Kooks makes a great set of headers for different street cars, however a chinese company named OBX copies the Kooks headers with cheap crappy material and horrible welds. I mean they just stole the prints off Kooks, and they can't be penalized in a court of law. At that time I had a 2009 Corvette and spent the extra bucks for the Kooks headers vs. the cheap ass chinese knock offs.

This is just one example of how the chinese have been stealing American ideas from American companies with impunity because they can steal them without any penalties. Plus they pay their employees minimal wages while the American companies pay their employees either union wages or just pay them well. So being a high school graduate economist says it's not economics, it basic math when putting it in the context of the wages of the workers.

So hell yes, let's tax their ass with tariffs, because they've been getting away with this crap for too long.