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The President & the Executive Branch Discuss Trump says he’s about to cut taxes and regulations ‘massively’ at the Political Forums; Reducing regulations will be extremely helpful and allow companies to flourish and be able to hire more. Cutting taxes for ...

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Old 01-23-2017, 08:42 PM
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Default Trump says he’s about to cut taxes and regulations ‘massively’

Reducing regulations will be extremely helpful and allow companies to flourish and be able to hire more.

Cutting taxes for American citizens will also be helpful in allowing peeps to use that money to pump it into the company.

Win-win situation.

Trump says he’s about to cut taxes and regulations ‘massively’ – TheBlaze

According to Politico, during a visit by business leaders to the White House, President Donald Trump informed them that he would be cutting taxes and regulations left behind by previous administrations “massively.”

Present at the meeting were the executives of Ford Motor Company, Johnson and Johnson, Lockheed Martin, U.S. Steel, and more.

“We are going to be cutting taxes massively both for the middle class and for companies — and that’s massively,” he told company executives during the meeting in the Roosevelt Room.

Trump says that taxes should go down by 15 to 20 percent, and said that he plans to cut out 75% of the regulations currently on the books. While he said there will still be regulations, those Trump says he plans on introducing will be less stifling than the current regulations America has now.

“We’re going to have regulation, and it’ll be just as strong and just as good and just as protective of the people as the regulation we have right now,” said Trump. “The problem with the regulation we have right now is that you can’t do anything.”

Trump wanted to emphasize to the CEO’s and representatives that companies that make their products in the United States will be rewarded with “advantages.”

“We want to make our products here,” Trump told them. “And if you look at some of the original great people that ran this country, you will see that they felt very strongly about that, making products. And we’re going to start making our products. And there will be advantages to companies that do indeed make their products here.”

“So we’ve seen it,” he added. “It’s going to get — it’s going to be a wave. You watch. It’s going to be a wave.”

Trump’s approach toward bringing more business into the U.S. started before his term as president started, having negotiated with Masayoshi Son of Sprint Corp. to bring some 50,000 of jobs into the country.

The president has not all been completely positive when it comes to restoring a healthy business environment in the U.S., as he has threatened companies that do not make their products in America with penalties, saying that leaving the country will have “consequences.”
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Old 01-23-2017, 10:04 PM
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Default Re: Trump says he’s about to cut taxes and regulations ‘massively’

Trickle down again. How many times do we do this? The right always get excited over regulations but they can't name one.

Quote:
Originally Posted by Hairy Jello View Post
Reducing regulations will be extremely helpful and allow companies to flourish and be able to hire more.

Cutting taxes for American citizens will also be helpful in allowing peeps to use that money to pump it into the company.

Win-win situation.

Trump says he’s about to cut taxes and regulations ‘massively’ – TheBlaze

According to Politico, during a visit by business leaders to the White House, President Donald Trump informed them that he would be cutting taxes and regulations left behind by previous administrations “massively.”

Present at the meeting were the executives of Ford Motor Company, Johnson and Johnson, Lockheed Martin, U.S. Steel, and more.

“We are going to be cutting taxes massively both for the middle class and for companies — and that’s massively,” he told company executives during the meeting in the Roosevelt Room.

Trump says that taxes should go down by 15 to 20 percent, and said that he plans to cut out 75% of the regulations currently on the books. While he said there will still be regulations, those Trump says he plans on introducing will be less stifling than the current regulations America has now.

“We’re going to have regulation, and it’ll be just as strong and just as good and just as protective of the people as the regulation we have right now,” said Trump. “The problem with the regulation we have right now is that you can’t do anything.”

Trump wanted to emphasize to the CEO’s and representatives that companies that make their products in the United States will be rewarded with “advantages.”

“We want to make our products here,” Trump told them. “And if you look at some of the original great people that ran this country, you will see that they felt very strongly about that, making products. And we’re going to start making our products. And there will be advantages to companies that do indeed make their products here.”

“So we’ve seen it,” he added. “It’s going to get — it’s going to be a wave. You watch. It’s going to be a wave.”

Trump’s approach toward bringing more business into the U.S. started before his term as president started, having negotiated with Masayoshi Son of Sprint Corp. to bring some 50,000 of jobs into the country.

The president has not all been completely positive when it comes to restoring a healthy business environment in the U.S., as he has threatened companies that do not make their products in America with penalties, saying that leaving the country will have “consequences.”
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Old 11-04-2017, 12:26 PM
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Wink Re: Trump says he’s about to cut taxes and regulations ‘massively’

Granny says the only things certain in life is death an' taxes...

GOP Tax Bill Slashes Size of Deductible Home Mortgage by 50%
November 2, 2017 | The tax reform bill that the House Ways and Means Committee released today slashes in half the size of a mortgage that qualifies for the mortgage-interest deduction from federal income taxes.
Quote:
It also eliminates the provision in current law that allows a taxpayer to deduct the mortgage interest on a secondary residence as well as their principal residence home. Under current law, taxpayers can deduct the mortgage interest on mortgage debt up to $1,000,000. Under the Republican proposal, a taxpayer will only be able to deduct the mortgage interest on mortgage debt of $500,000 or less. Also, a married person filing singly will only be able to deduct the interest on a mortgage of $250,000. This change in the deductibility of mortgage interest is made in Section 1302 of the bill. The official summary of the bill, published by the Ways and Means Committee, explains both the relevant provision in current law and how the Republican bill will change that provision.

This is how it explains the current law:

“Under current law, a taxpayer may claim an itemized deduction for mortgage interest paid with respect to a principal residence and one other residence of the taxpayer. Itemizers may deduct interest payments on up to $1 million in acquisition indebtedness (for acquiring, constructing, or substantially improving a residence), and up to $100,000 in home equity indebtedness.”

And this is how it explains what the Republican tax-reform bill would do:

“Under the provision, a taxpayer may continue to claim an itemized deduction for interest on acquisition indebtedness. For debt incurred after the effective date of November 2, 2017, the $1 million limitation would be reduced to $500,000. Interest would be deductible only on a taxpayer’s principal residence. Similar to the current-law AMT rule, interest on home equity indebtedness incurred after the effective date would not be deductible. In the case of refinancings of debt incurred prior to November 2, 2017, the refinanced debt generally would be treated as incurred on the same date that the original debt was incurred for purposes of determining the limitation amount applicable to the refinanced debt. In the case of a taxpayer who enters into a written binding contract before November 2, 2017, the related debt would be treated as being incurred prior to November 2, 2017.”

This is how the Ways and Means Committee summary explains the change in the size of the mortgages that will be eligible for a mortgage interest deduction:


https://www.cnsnews.com/news/article...me-mortgage-50
See also:

Republican Plan Retains Top Tax Rate of 39.6%; Repeals Personal Exemption for Parents and Children; Increases Child Tax Credit $600
November 2, 2017 | The new tax bill released by the House Ways and Means Committee retains a progressive tax code—that takes away larger percentages of a taxpayers’ income as the taxpayer earns more money—and maintains the current top income tax rate of 39.6 percent.
Quote:
This follows through on the commitment the committee made in the tax-plan framework it put together with the White House and the Senate Finance Committee that said their reformed tax code would be "at least as progressive as the existing tax code." The bill also repeals the personal exemption—currently $4,050 per person—that tax filers can currently deduct for themselves, a spouse and dependents, including children. Additionally, the bill repeals the deduction people can currently take for the state and local income or sales taxes they pay. It does not repeal the deduction for mortgage interest or state and local property taxes.

Under current tax law, for example, a married couple who has four children would be able to reduce their taxable income by $24,300 using personal exemptions. They would also be able to reduce their taxable income by the amount of state income or sales tax they paid and also by the mortgage interest they paid as well as the local property taxes they paid. Under the Republican bill, a married couple with four children who itemized would still be able to deduct their mortgage interest and property taxes, but not the $24,300 in personal deductions and not the state income or sales taxes they paid. If they do not itemize (and thus do not claim a deduction for mortgage interest or property taxes), the Republican bill gives them a larger standard deduction ($24,000) than they would get under current law ($12,700).

The bill also increased the child tax credit from $1,000 to $1,600 that applies to children 16 and under. It also creates a $300 credit for dependents who are not children. These credits would phase out for married couples filing jointly at $230,000 in income and for single filers at $115,000. The 39.6 percent tax bracket in the Republican bill would kick in for individual filers with incomes over $500,000 and for married couples filing jointly with incomes of $1,000,000 or more.

Under current tax law, there are seven federal income tax rates: 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, 35 percent, and 39.6 percent. The Republican bill would create four explicit new tax rates and another “effective” rate that would tax lower income people 0 percent of their income. The four explicit rates in the Republican plan are: 12 percent, 25 percent, 35 percent and 39.6 percent.

Here is how the official summary of the Republican bill explains the income levels to which these rates will apply:
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Old 11-04-2017, 08:50 PM
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Default Re: Trump says he’s about to cut taxes and regulations ‘massively’

Quote:
Originally Posted by Hairy Jello View Post
Reducing regulations will be extremely helpful and allow companies to flourish and be able to hire more.

Cutting taxes for American citizens will also be helpful in allowing peeps to use that money to pump it into the company.

Win-win situation.

Trump says he’s about to cut taxes and regulations ‘massively’ – TheBlaze

According to Politico, during a visit by business leaders to the White House, President Donald Trump informed them that he would be cutting taxes and regulations left behind by previous administrations “massively.”

Present at the meeting were the executives of Ford Motor Company, Johnson and Johnson, Lockheed Martin, U.S. Steel, and more.

“We are going to be cutting taxes massively both for the middle class and for companies — and that’s massively,” he told company executives during the meeting in the Roosevelt Room.

Trump says that taxes should go down by 15 to 20 percent, and said that he plans to cut out 75% of the regulations currently on the books. While he said there will still be regulations, those Trump says he plans on introducing will be less stifling than the current regulations America has now.

“We’re going to have regulation, and it’ll be just as strong and just as good and just as protective of the people as the regulation we have right now,” said Trump. “The problem with the regulation we have right now is that you can’t do anything.”

Trump wanted to emphasize to the CEO’s and representatives that companies that make their products in the United States will be rewarded with “advantages.”

“We want to make our products here,” Trump told them. “And if you look at some of the original great people that ran this country, you will see that they felt very strongly about that, making products. And we’re going to start making our products. And there will be advantages to companies that do indeed make their products here.”

“So we’ve seen it,” he added. “It’s going to get — it’s going to be a wave. You watch. It’s going to be a wave.”

Trump’s approach toward bringing more business into the U.S. started before his term as president started, having negotiated with Masayoshi Son of Sprint Corp. to bring some 50,000 of jobs into the country.

The president has not all been completely positive when it comes to restoring a healthy business environment in the U.S., as he has threatened companies that do not make their products in America with penalties, saying that leaving the country will have “consequences.”
yeah taxes for his family and peers; regulation for his family and peers to gag, poison and cheat the American public.
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Old 11-05-2017, 08:50 AM
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Default Re: Trump says he’s about to cut taxes and regulations ‘massively’

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yeah taxes for his family and peers; regulation for his family and peers to gag, poison and cheat the American public.
The unbridled hatred for Trump would be amusing if it wasn't so toxic. Trump takes an active role in bringing jobs back to the US and encouraging new investment through tax reform and using the President's bully pulpit but that only triggers venomous denunciation.

Is it that businesses are all criminals, except those subsidized for the greater good of course, or is the only good "pay check " a welfare payment provided by looting from the so-called rich?
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