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Donald Trump's Big Tax Cut... For Himself


#1

Donald Trump's Big Tax Cut... For Himself

Dean Baker

According to press accounts, Donald Trump seems prepared to put out a tax cut proposal that could net him hundreds of millions of dollars over the next decade. It probably won't do much to help the rest of us, but folks who were worried about whether President Trump would be able to pay off his debts should be relieved.


#2

I love and appreciate Dean Baker and CEPR; they teach you stuff you never learned in high school or college (unless you were a college econ. major, and even then...). Plus, they actually write and research with progressive values in mind, e.g., how economic policies affect the poor, or working people, how wealthy elites have gamed the economic system, and how other countries' economies are going for them. And they write with humor and a sense of irony. Now, if they could just get to MAKE economic policy, that would be something.


#3

CNN Money has its own version of this news release on their site this morning. They make it sound totally wonderful because supposedly S corporations are 'small family businesses' that have been paying the individual rate instead of a corporate rate. When I think of a 'small family business' I picture Mom & Pop laundries, restaurants, etc. Thanks for the clarification Mr. Baker. Do you suppose I could form an S corporation because I'm in the 'business' of feeding my family?


#4

Unfortunately this information will never reach the die hard Trump voters for whom he can do no wrong. Of course they're going to be completely screwed when Medicare, Medicaid and Social Security benefits are cut to pay for this giveaway to the already wealthy.

This is what Paul Krugman calls the "Starve the Beast" strategy of Republicans. They pass tax cuts that overwhelmingly benefit the wealthy. This creates huge deficits and debt. Then they and their stenographers in the capitalist, corporate media speak, write and act as if the deficit and debt are YUGE problems and something must be done! RIGHT NOW!!! Then the only solution is to cut government programs that mainly benefit the working class, poor and elderly such as Social Security, Medicare and Medicaid. The military budget (offense, not defense) is sacred because we have to keep the "American people safe" except the ones who are going to suffer and die because of the cuts to entitlement programs listed above.

Mark my words. This will happen.


#5

I truly can not fathom why any thinking person (regular person, not a 1-percenter) could support him. And yet, some still do. It's really just astonishing. He is the most destructive, immature, greedy and corrupt individual who has ever held this office.


#6

Wasn't JFK's plan very similar??


#7

Wasn't JFK's plan for what very similar to what?


#8

Wasn't JFK's tax plan very similar to Trump's tax plan?


#9

What was JFK's tax plan?


#10

Did you even read Dr. Baker's article?


#11

How the top 1% can justify receiving more than 1% of the benefits of any legislation is the principal problem with the Duopoly.

The Democrats and the Republicans Establishment have been taking this country's treasure for themselves and throwing us crumbs for decades.

Yet, my fellow Americans keep voting these thieves into office every election.

To what can we attribute this phenomenon?

Mass Brain Damage or just plain Stupidity?

DuopolyExitNow


#12

Some terrific posts on here.
The monetary system is broken.
With printing endless fiat, access to this only from banks, and now zero accountability for those in power, the first thing to go has to be money.

You can't borrow from your house assuming that it will appreciate, or rather, guarantee its appreciation
There are several such axioms that our current market place is built on.
There is no possibility that bank can fail any longer. There is no possibility that a large corporation can ever have another loss. There is no possibility that wall street firm can ever have another loss.

How is this tied to realty?
When chinese come calling for their bonds, watch the US dollar collapse, and the pre weimar state be reintroduced - a loaf of bread will cost 20 dollars one minute, and 2000 the next hour.
Argentinians will be saying "Serves you right"

stop using the national currency.
it is the only way.


#13

I don't know which is sillier, your post or Trump supporters.


#14

I'll take the charitable route and assume you have mass brain damage. Now, assuming you still have a hint of undamaged brain remaining, our only hope for the foreseeable future is to push democrats towards better ideas and seeking to move the republican party into an afterthought similar to the green party.


#15

...and a whole lot of elected, and not elected, power players, unfortunately for us, have his back.


#16

I wonder how long it will take the middle class Don worshippers to figure out that they got bamboozled again.


#17

Matthew 19:24
'And again I say unto you, it is easier for a camel to go through the eye of a needle, than for a rich man to enter into the kingdom of God.'

Well Greg, since I did survive living through the 60's I suppose I did incur some brain damage.

I admire your devotion to a political party that is undeserving of it. I understand how hard it is for some to not see what's right in front of them.

I too, was a lifelong Democrat until they threw in with W. and turned our military into murderers once again.

My guess is you've never voted for anyone other than a Democrat in your entire life.

Every time you hear of our military being responsible for killing innocent men, women, and children around the globe, just remember you supported the Duopoly which supports these actions.

Perhaps you are not brain damaged, but you have been brainwashed.

People, Planet, and Peace over Profit.


#18

I survived those 60s also. I appreciate your admiration for my devotion. I did vote for one republican in my lifetime a few decades ago: Al Quie. He was a decent man. Being the world's policeman is a tough job and often it seems we do a very poor job. I wrote and marched to try to stop the idiocy of attacking Iraq. More democrats agreed with me on that than republicans. There is no other alternative than the 2 parties at this time.


#19

Yes, it's the standard GOP mode of operation. Ruin the economy while increasing the national debt, then the Democrats get to come in and clean up the mess while Republicans screech like Banshees, and the poor and middle class continue to decline.


#20

Just another symptom of the collapse of democracy.