tag:blogger.com,1999:blog-3758330678390419129.post2218849518753242564..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: The Trump Tax Reform Scam is On: All Deductions Beyond Mtg Interest and Charitable Contributions Will Be Eliminated Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-3758330678390419129.post-9872153615727335422017-04-27T22:56:04.370-04:002017-04-27T22:56:04.370-04:00Number one is exactly the way I see it. Even if r...Number one is exactly the way I see it. Even if rates are cut, this is likely temporary. If deductions are removed, this is probably permanent. When the income doesn't meet their preposterous projections, they will raise rates again but since they can never keep a budget and are always complaining about being under funded, the deductions will probably never return except for the ones for Dhttps://www.blogger.com/profile/07011856643664793898noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-90205866734606093502017-04-26T21:21:13.239-04:002017-04-26T21:21:13.239-04:00IF the tax reform is "revenue neutral", ...IF the tax reform is "revenue neutral", but results in disincentivizing high state taxes, it would be a net win. However, even this meager win may be a mirage for reasons mentioned already:<br /><br />1. Rates can be changed back more easily than structural changes like deductions.<br /><br />2. Horton's Law: Good parts will be negotiated away, bad parts will be kept. Can't Anonymoushttps://www.blogger.com/profile/08340471191018052788noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-15028846045458792462017-04-26T20:52:55.421-04:002017-04-26T20:52:55.421-04:00I did not report it because it is not part of the ...I did not report it because it is not part of the written statement issued.<br /><br />Mnuchin did say the 15% rate would apply to pass throughs but my contacts on the Hill and at Treasury tell me there is no chance this will be in any final tax reform package. <br /><br />It is Team Trump throwing something out there that the left can object to and will be cut.<br /><br />Not going to happen. Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-69297852683219461302017-04-26T20:32:27.134-04:002017-04-26T20:32:27.134-04:00read a more detailed report of the plan, pass thro...read a more detailed report of the plan, pass through income presently taxed as individual rates , (business income), is certainly in the plan. RW did not point this out in his article. Also removal of the AMT and estate taxes (http://www.marketwatch.com/story/trump-aims-to-rip-up-tax-code-with-big-cut-for-businesses-lower-individual-rate-2017-04-26)DRJhttps://www.blogger.com/profile/13810416513715357620noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-235659333402383272017-04-26T17:13:58.039-04:002017-04-26T17:13:58.039-04:00I think you are confused. This is not in the plan....I think you are confused. This is not in the plan.Mooris Dobbshttps://www.blogger.com/profile/12725416230840374633noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28584311195205715932017-04-26T17:05:17.833-04:002017-04-26T17:05:17.833-04:00Wenzel asked Block on what position should they al...Wenzel asked Block on what position should they align with Trump and Block couldn't come up with any.<br /><br />Trump is a false prophet.Felix Somaryhttps://www.blogger.com/profile/10179680899223756525noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23966984476819909142017-04-26T16:41:28.888-04:002017-04-26T16:41:28.888-04:00Do you know what economic growth is to these guys?...Do you know what economic growth is to these guys? Deficits that result in more inflation.<br /><br />Rothbard destroyed this Laffer scam many times.<br /><br />You are a Trump boy sucker.Mooris Dobbshttps://www.blogger.com/profile/12725416230840374633noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-31117790662785252962017-04-26T16:33:00.670-04:002017-04-26T16:33:00.670-04:00I for one am ecstatic, 15% rate for self employed ...I for one am ecstatic, 15% rate for self employed business income instead of individual rate. A huge break for me. Halves my tax liability. Worth losing the state income tax deduction. Adding all my taxes together I pay 60% ATM.DRJhttps://www.blogger.com/profile/13810416513715357620noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-58185466313167107032017-04-26T15:31:13.948-04:002017-04-26T15:31:13.948-04:00This would likely eliminate the deduction for inte...This would likely eliminate the deduction for interest on leverage loans and would have a pretty huge impact on corporate borrowing Anonymoushttps://www.blogger.com/profile/15825951329127016745noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-56762117020882539412017-04-26T14:57:11.061-04:002017-04-26T14:57:11.061-04:00Lower rates and a structure closer to a flat tax i...Lower rates and a structure closer to a flat tax is in the direction of liberty.PHhttps://www.blogger.com/profile/10505462828969815943noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-81924458602467350412017-04-26T14:55:06.522-04:002017-04-26T14:55:06.522-04:00Even assuming that rates will be lowered, they can...Even assuming that rates will be lowered, they can (and will) be easily raised again but the old deductions won't be coming back. Why doesn't the rabble demand that credit card interest be deductible again? Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-60257485494557065892017-04-26T14:54:47.083-04:002017-04-26T14:54:47.083-04:00If this tax cut is so "bad" (accoding to...If this tax cut is so "bad" (accoding to Wenzel) then why are they claiming that revenue will be made up with "economic growth" and not tax increases elsewhere?<br /><br />Dr Block is right, you are a "negative fanboy". :D<br />Anonymousnoreply@blogger.com