NOTICE
The second half of my 4 part document on President Trump has been posted.
3/5/21: Since I have days, maybe weeks, not months to live: I will post the second half of the 4 part document on President Trump without a donation; because, I may not be capable of physically and mentally in the future.
12/17/20: I posted 1/2 of Part IV, Critique of the Impeachment of Trial of President Trump.
Look for Part IV under Part 1 on the Menu.
12/16/20: I posted 1/2 of Part III, Critique of the House Impeachment Hearing.
Look for Part III under Part I on the Menu.
12/16/20: I posted 1/2 of Part II, Reasons for the impeachment and indictment of President Trump.
Click on Part 1 on the Menu to find Part II
12/15/20: I posted 1/2 of Part 1, Critique of the Michael Cohen Congressional hearing.
Look for on the Menu.
12/15/20: I am going to post on my website 1/2 of each of my four part document on President Trump free, since nobody paid the $50K donation and will post the second half for $25,000 donation.
Posted 5/2/19: I heard Ray Dalio, one of America’s richest men, say on 60 Minutes, April 7, 2019, “the concentration of wealth in fewer and fewer hands is a threat to democracy.” That is correct. And, Bill Whitaker asked, “Should taxes on people like you be raised?”
Dalio answers, “of course.”
His wealth $18 billion, I sent him an email, asking for $50,000 donation; that is, 1/360,000 of his wealth—to promote the solution and I received no answer.
He demands “radical truthfulness” and “radical transparency” from his employees, but, he is not truthful and transparent—what the taxes increases should be.
Bill Gates, Buffett, Schultz, and Dalio say, taxes should be raised; but, don’t mean it: that’s my conclusion: my blog has the answer, taxes should be raised to pay for government expenses and those taxes should be distributed fairly among individuals and corporations that benefit from our nation’s economy; but, rich people, millionaires and billionaires won’t support it. I have been truthful and transparent what those taxes should be. Since, 1981 the US Tax code has not been fair: there has been a deficit every year and those deficits are getting bigger -- and the rich have gotten richer and richer. It has created the problem that Ray Dalio stated and Trump has made it worst. He lied to the American people, saying, his tax cuts would reduce deficits.
Part I, The Critique of the Cohen House Oversight Committee Hearing of all 42 Members is ready for Release! Democrats tried to learn what Cohen knew about Trump's misdeeds and Republicans tried to sabotage the hearing.
To see several pages-- click Part I on the Menu
Part II -- Reasons for the Impeachment and Indictment of President Trump.
To see several pages - click Part II on the Menu
Part III -- The Critique of the House Public Impeachment Hearing..... It uncovered by subpoenaing a number of career diplomats who were willing to testify that President Trump tried to bribe and force the newly elected president of the Ukraine, Volodymyr Zelensky, to carry out two sham investigations to benefit his reelection in 2020 and hurt his top political rival, the former VP Joe Biden. Who aided the investigation and who tried to undermine it: Democrats or Republicans on the House Intelligence committee?
To see several pages -- click Part III on the Menu
Part IV -- The Critique of the Impeachment Trial of President Trump in the Senate. Who is right and wrong and who told the truth and lied: the House managers or Trump's lawyers? I will post all 4 parts on my website, over 160 pages, one and a half year's work, once I get the $50,000 donation requested. Otherwise, I quit.
To see several pages-- click Part IV on the Menu
Part I – is a critique of Cohen’s testimony and each member of the Congressional Oversight Committee: both Republicans and Democrats.
Part II -- is meant to be guidance on whether President Trump should be impeached and/or indicted after he leaves office.
Part III--is an analysis of the Public Impeachment Hearing [what Chairman Schiff said and each member of the House Intel Committee]
Part IV: Critique of the Impeachment Trial of President Trump
These documents are not available for “catch and kill.” I will publish all 4 when I get the $50K donation: Steyer and Bloomberg can easily afford it.
Trump came to California and raised $15M in one day: I have raised nothing in 23 months. That is not right. I have given you the Tax Guardian Blog free for 10 years.
Trump raised over $207 million in serval weeks based on a claim of widespread voter fraud and election rigging without evidence of either (i.e., making false claims).
I have not raised $25,000 in months to help impeach and put Trump in prison: that is wrong. When you deny the facts or truth: that is evil. Trump has committed crime after crime, while in office, and gotten a free pass.
When, you tell the American people 20,000 lies, try to bribe and extort favors from a foreign leader to manufacture dirt on a a political rival, Joe Biden and Hunter Biden and obstruct a congressional investigation, and try to overturn the election of an opponent, elected by the people, confirmed by electoral college votes, and ratified by Congress and incite resurrection: that is impeachable, as well as, gangster like, or criminal behavior.
I did not hear from anybody in February
I did not hear from anybody in January [2021].
I did not hear from anybody in December.
I did not hear from anybody in November.
I did not hear from anybody in October.
I did not hear from anybody in September.
I did not hear from anybody in August.
I did not hear from anybody in July.
I did not hear from anybody in June.
I did not hear from anybody in May.
I did not hear from anybody in April.
I did not hear from anybody in March.
I did not hear from anybody in February
I did not hear from anybody in January [2020]
I did not hear from anybody in December
I did not hear from anybody in November
I did not hear from anybody in October
I did not hear from anybody in September
I did not hear from anybody in August
I did not hear from anybody in July
I did not hear from anybody in June
I did not hear from anybody in May
I did not hear from anybody in April
I did not hear from anybody in March [2019]
Ronald Reagan's fee per speech $50,000. My 4-part document on the judgment of President Trump contains 10,000 times more enlightening information that his any of his speeches, yet nobody has made a $50,000 donation.
MY 4 PART DOCUMENT [is over 160 pages]. Part I is a critique or an analysis of what each person said on the House Oversight and Reform Committee: Democrats and Republicans, during the House Michael Cohen Hearing; Part II, reasons why President Trump should be impeached and indicted after he leaves office; Part III, a critique of what Daniel Goldman, attorney for the Democrats, and Steve Castor, attorney for the Republicans and each member of the House Intelligence Committee said, when questioning Bill Taylor and George Kent, two career diplomats, and their answers, in the House Public Impeachment Hearing of President Trump; and Part VI, a critique of what each of the House Mangers and each of Trump's defense lawyers said: who told the truth and who lied, who was was right and who was wrong during the IMPEACHMENT TRIAL TRUMP IN THE SENATE.
On Jan. 28, 2019, I sent an email to Howard Schultz, Warren Buffett, Bill Gates, Michael Bloomberg, four billionaires, asking for a $50,000 donation to my website: The Tax Guardian. com.
On Jan. 30, 2019, I sent the same email to Eli Broad, George Soros, two more billionaires, and Al Gore [$300M]…
On Jan. 31, 2019, I sent the same email to Kenneth Griffin, hedge fund founder, who recently paid $238 million for a penthouse in New York City…. owns a mansion in London valued at $124 million and paid $58 million for a 4 level penthouse in Chicago…
So far, I have not received a reply from anybody…except this one [Jan. 30]:
Thank you for contacting the Bill & Melinda Gates Foundation. Your submission has been received.
Because of the large number of inquiries received by the foundation, we may be unable to respond directly to your request. Please note, we are only able to review inquiries submitted in English.
Actually, my request was to Bill Gates, personally….
That shows these billionaires and Al Gore do not want pay for the benefits that made them wealthy and to solve America’s soaring debt crisis…
The $22 trillion National Debt is unpaid for benefits….
My Tax Plan will, but, it needs exposure -- that requires help….
My Tax Plan can be found on this page by reading [or scrolling] down: posted 11/6/17 -- updated: 2/11/19.
I make the same appeal to the more than 400 millionaires and billionaires (which include George Soros and Steven Rockefeller) who asked Congress to reject the Republican tax plan or any other rich person…
For your information: I wailed against it!
I started my blog: The Tax Guardian.com in 2008 and it has not gone anywhere, blacklisted by the Mass Media.
Views last year per day: 20 [average]
I published five books on taxation and have sold less than 40 copies [total]. Royalties received in the last 3 or 4 years about $2 [one copy sold].
I used Yahoo and Google word ads and sold no books.
I paid for email book flyer to 250,000 without selling a single book.
My 38 tax videos posted on You Tube in the last 4 to 6 years ago– average less than 25 views: I did not see any change in the numbers in 2017-8.
If, you do a search for The Tax Guardian Blog on Google, Yahoo, Bing, Ask, or AOL– it does not show up, but hundreds of other sites not related do. I did pay for SEO – and still, did not get listed on these search engines.
It does show up on Dogpile.
I ask for a donation on my site a few years ago for 4 months and got: 0-return. And, now, I am running out of money….
I have a contact page on the Menu:
If, I don’t hear from someone, I will quit…
Trump boosts bills to teach his favorite book — the Bible — in public schools
David Knowles, Editor Yahoo News•January 29, 2019
My comment: Trump is a damn moron and a conman: teaching the Bible is the purpose of the Church—not the State. It is not literal. It has symbolic [or mystical] meaning: that only Priests are suppose to understand: parts of the Bible are worse than the Koran, for example: the Book of Leviticus. The purpose of the State is to teach Science, the truth of the physical world.
The Bible taken literally—or historically is not the truth.
His second choice: the “Art of the Deal” is pure crap! How to swindle people; like, the 6,000 victims of his fraudulent university and the Federal Government and the American people with his 2017 tax cut act: he lied to get it passed: the Art of the Deal.
Just about everything that comes out of Trump’s mouth is wrong.
Warren vs. AOC: 2 Very Different Tax Proposals, 1 Ultimate Goal Dan Caplinger, The Motley Fool, 1/27/2019
My comment: Neither, Warren's wealth tax or AOC's eighth tax rate bracket of 70% over $10 million will not solved the Nation's debt problem -- or balance the budget: the tax code needs revamping from top to bottom.
My earlier comments: were based on the belief: AOC was proposing a graduating income tax -- not one new eighth tax rate, a jump from 37% to 70%: that is an aberation.
Alexandra Ocasio-Cortez's 70% Tax Plan: What All Americans Need to Know
Matthew Frankel, CFP, The Motley Fool,Motley Fool Thu, Jan 24, 2019
My comment: What Matthew Frankel failed to mention: higher income and corporate tax rates back in 1945 to 1980 – reduced the debt to GDP from 120% to 33%: that was good. The tax cuts of Reagan, G.W. Bush and Trump have raised the debt to GDP ratio back up to over 100: that is bad: interest on the debt, just for the first 3 months of this fiscal year: $168 billion.
Ocasio-Cortez should push for rolling back Trump tax cuts instead of a 70% marginal tax,
private equity tycoon says
Julia La Roche
Reporter
Yahoo Finance January 23, 2019
My comment: Ben Hutchins says, “we should find a way to pay for the tax cuts”—no, tax cuts don’t pay for themselves, unless they are excessive high: they are not. We should find a way to pay for government expenses: that is easy: tax reform: start with taxing “carried interest”, the compensation of Ben Hutchins, as ordinary income. Trump promised to do that: he did not. He extended the investment period from 1 year to 3 years to qualify for the lower capital gains tax on “carried interest” [hedge fund manager’s compensation]; however, the typical investment period of Equity and Hedge funds is 4 to 6 years. So, I don’t see how that helps much. Ben Hutchins advice: would do away with that extension. Bad advice: back to taxing “carried interest” his compensation as long-term capital gains: 23.8%. The 2017 tax rates on income and capital gains will not come close to reducing deficits: $668 billion in 2017.
Ocasio-Cortez’s tax hike idea is ‘absurd economically’: WSJ editorial board member
Fox Business Videos 1/22/19
My comment: What is absurd: Trump's $1 trillion yearly deficits: Bill McGum, Wall Street Journal editorial board member is speaking for the top 1%--the nation's ruling Plutocracy aided by Fox News--the owner of which is a billionaire.
Ben Stein: Ocasio-Cortez Is Promising 'The Same Kinds Of Things' As Hitler
Ed Mazza,HuffPost 1/23/19
My first comment: Ben Stein is one reason we have a $22 trillion national debt: he has been teaching people how to avoid U.S. Taxes for years: he is like the German Jews who supported Adolf Hitler in the beginning: Donald Trump [American's modern day emerging version].
My second comment: Ben Stein is wrong: any tax code that creates millionaires and billionaires and increases the National Debt [or deficits] is immoral. Reagan's, G.W. Bush, and Trump's tax cuts does that.
Alexandria Ocasio-Cortez: A system that allows billionaires to exist is immoral
Fox Business Videos 1/22/19
My comment: Chairman Herman Cain is an idiot: you need 70% top rate and other changes in the tax code to balance the budget and pay for universal healthcare: Trump's 37% and his other tax cuts will create a $1 trillion deficit this year: 26 billionaires owning more wealth than 3.6 billionaire people: is immoral.
Rep. Alexandria Ocasio-Cortez answers questions about morality and billionaires FOX News Videos 1/22/19
My comment: Alexandria Ocasio-Cortez is right.
How a 70 Percent Tax Rate on the Rich Would Actually Work
Luke Darby, 1/22/2019
My comment: Walter Picca: Rep. Alexandria Ocasio-Cortez is right on the money: the best thing that has happened to the U.S. Congress.
The U.S. Is a Low-Tax Nation Unless You Earn a Lot
Justin Fox,Bloomberg, 1/15/2019
My comment: I don’t agree with Justin Fox: knocking Rep. Alexandrea Ocasio-Cortez proposed 70% top marginal rate, saying, “ taxes are much lower in the U.S. than most other developed countries, but income taxes for high earners actually aren’t.”
Here are his mistakes: he mentions the statutory rates: not the effective; actually, the effective rate is quite low, especially on high incomers; because, a large part of their income—is from capital gains and dividends taxed much lower than earned income.
According to the IRS, our nation’s top earners paid an average effective federal income tax rate of 23.13% on AGI averaging $318 million in 2014 (the most current year studied).
Secondly: we have a lot more people earning much higher total income; than, other countries: such as, CEOs, Movie Stars, Athletes, rich people, investors, etc.
@FixFireLeo reply: The top 5% of wage earners pay OVER HALF of all federal income tax. The bottom 47% pay ZERO. Are YOU willing to pay 70%? If not, you are a hypocrite.
MY reply to @FixFireLeo : that is because some are under paid and some over paid. Yes, I am willing to pay 70% on income over $10,000,000.
Why we’ll never again have a 70% tax rate
Rick Newman Senior Columnist Yahoo Finance January 7, 2019
My comment: It's going back to 70%, because it is necessary to pay for government expenses--and even higher in a national emergency; such as a war or when the sea rises covering parts of Florida and it seeps into the N.Y. City subways. What Rick Newman is saying: is pure Republican propaganda. Seventy percent of $10M is not unfair: the nation's resources, laws, work force, and the government contribute far more to income or profits; than a single individual. We have a rising $21 trillion national debt, because, of the Reagan, G.W. Bush, and the Trump tax cuts: The people were lied to by Republicans: Reagan, G.W. Bush and Trump said, their tax cuts were pay off the National Debt: what it did: it spiked the deficit: the people have been deceived by Republicans-- not the government. The rich and the corporations are not paying their fair share, because, too many Republicans and a few rotten rich Democrats controlling the government: don't trust their BS. Yes, I agree spending is out of control--also; like the cost of Trump using Air Force One: he is the most expensive president--ever. How did this happen: voters are stupid, easily misled.
Steve Scalise Feuds With Alexandria Ocasio-Cortez Over 'Radical Followers' On Twitter
Amy Russo. HuffPost•January 6, 2019
My comment: Steven Scalise comments proves: he deserved to be shot by James T. Hodgkins, an American hero. He is stupid, a Republican, wrong, and misstated the facts: too bad, James T. Hodgkins was not a better shot.
Posted 9/5/2018 Senator John McCain
The accolade bestowed on Senator McCain’s death and funeral was over the top, excessive, he did not deserve it. He says, he was a Lincoln, Roosevelt, Reagan Republican: he over rated himself and lied.
Leave Lincoln out of it: the Republican Party has changed since 1875: He was a Reagan criminal Republican—not Roosevelt.
He was a member of the Republican criminal syndicate in the Congress since January 1987: he signed the Norquist no-tax-increase pledge in 2000 – renounced his congressional powers to raise taxes granted to him, by the Constitution, to pay for government expenses to get funding for his political campaigns and be in good standing with the Republican party: that pledge—violates the Oath of Office—swearing his allegiance to Norquist—the Devil—and not to the U.S. Constitution and the people. He was a one armed bandit law-maker.
McCain voted to cut taxes during two wars.
Roosevelt raised taxes during World War II.
Elitist Reagan blessed Norquist, he became the enforcer of the no tax increase pledge for any reason -- for the Republican Party.
In Oct. 1999, McCain supports the flat tax: taxing the income of the poor, middle class, rich, and the altar-rich at the same rate: that is an unfair tax.
Roosevelt enacted the graduating tax.
Reagan flattened the income tax.
McCain supports the Reagan tax cuts.
In Jul. 2000, McCain Voted YES on phasing out the estate tax ("death tax").
Roosevelt supported the estate tax.
Reagan cut the estate tax rate and increased the exemption.
McCain also voted to increase the exemption from $1M to $5M: double for couples: estimated net worth $21 million.
His wife’s net worth $200 million.
That is why she kissed his coffin.
Nov. 2016, [again] he supported eliminating the death tax: that is what Republicans call the estate tax—our version of the inheritance tax.
Do you see his motivation….
The entire estate of the rich should not pass tax free to heirs—if, they are been under taxed during their life time.
John Mc Cain has been.
The estate tax is fair: it collects back taxes on estates that have grown exceedingly big from under taxation since 1981—at death.
Repealing it—is the long time goal of the Republican Party.
That is like, letting the rich, from under taxation dump their public debt on future generations that did not create it.
That is not fair.
In Apr. 1998, he voted YES on requiring super-majority for raising taxes. That is not fair: unless the same applies to cutting taxes. In 1980, McCain married Cindy, heiress to one of the nation's largest beer distributorship. That is when he decided a flat tax is better than progressive.
Veterans take heed:
Nov. 2005, McCain voted YES on extending the Bush tax cuts on capital gains and dividends during two wars.
Feb. 2006, he voted NO on $47B for military by repealing capital gains tax cut: during the Afghanistan and Iraq wars.
He is not your friend.
He was against the Bush 2001 and 2003 tax cuts, but in 2006, when we were in two wars and the deficits skyrocketed: he was for them.
That does not make sense.
Oct. 2007, he said, the Tax system is fair; wealthy pay bulk of taxes. That is not quite right. The Urban Institute-Brookings Institution Tax Policy Center, a non-partisan research group, show that the effective individual income tax rate for the wealthiest 1 percent was 19 percent in 2007.
In 2007, Warren Buffett said that he was taxed at 17.7 percent on the $46 million he had made the previous year, while his secretary faced a 30 percent federal tax bill on her $60,000 earnings.
The statutory tax rate on wages was 35%--but, on the two big sources of income of the rich: capital gains and dividends were reduced to 15%.
Treasury Secretary, Timothy Geithner said, "We have to correct the biggest problem in our tax system today, which is that it’s just basically unfair. If you are fortunate enough to be among the … most fortunate 0.5 percent, 1 percent of Americans today, your effective tax burden is in the low 20s, the lowest it’s been in decades and decades and decades — lower than somebody who might make substantially less money."
McCain is a liar and unfair like Trump.
The main lie: cutting taxes; mainly on the rich, would balance the budget: Reagan, Bush, and Trump said this. What it has done: spiked the deficits.
In Sep 2008, McCain said, “Worst thing in bad economic climate is to raise taxes “: Roosevelt raised taxes during the great depression.
McCain was for the Bush 2003 tax cuts on income tax, capital gains and dividend tax, and the estate tax in 2006 -- during large deficits and the Afghanistan and Iraq wars: Roosevelt raised taxes during World War II.
He was no Roosevelt.
In 2008, when, running for the presidency: McCain slammed Obama's plan to raise marginal income tax rates on the 5% of families who earn more than $250,000—and called it a massive tax increase.
McCain’s and wife’s join income—reported to be $4,345, 546.
As President, he said, he would veto any tax increase.
Twice, he voted to make the Bush tax cuts—permanent.
He also voted YES on repealing the Alternative Minimum Tax, enacted, because, some rich were using tax breaks to pay no taxes.
Does not believe in paying for government expenses, if, that means raising his taxes: he is now married to Cindy and a multi-millionaire.
He was no patriot.
Article I, Section 8, of the Constitution gave Congress the power to lay and collect to pay for government expenses: McCain decided not to use that power. He thought it was better to borrow the money.
In 2017, John McCain voted for the Trump-GOP tax scam: HR 1 [lowering taxes on corporations and the rich, despite growing deficits].
No Democrat voted for this bill.
Jan, 2012, McCain reaffirms his support for the Norquist no-tax increase pledge. Republicans call it: the Taxpayer Protection Pledge: remained a one arm bandit law-maker to the end: used his Constitution power only to cut taxes.
To get reelected: he gave the poor and middle tax breaks to get votes, so, when in congress: he would be able to cut taxes on the wealthy.
They were duped.
When McCain was elected to the Senate: the US Debt was $2.3 trillion: debt to GDP 48%; when, he left office [died]: the US National Debt was $21.4 trillion: debt to GDP 107%: a $19 trillion increase. His votes and his support for the Republican Party tax cuts scams are; mostly, responsible for that.
Joe Biden said, I love John McCain.
Barack Obama said, He made this country better.
George W. Bush said, he was honest, stood up for the little guy, dedicated his life to national ideals, and the world is smaller for his departure.
Bush has never been good at telling the truth.
Mike Pence said, in our long history, only 30 men have laid in the U.S. Capitol rotunda, and as a reflex ion of our esteem for McCain: he joined those ranks: a man who signed the Norquist no‑tax-increase pledge for any reason, voted for the permanent repeal of the estate tax, and in Feb. 2000, favored “a balanced approach’ – a flat tax system in: that is three strikes: he deserves the death penalty.
Pence called it -- “tax reform”. .
John McCain, spend 30 years in the Senate and not once voted for a tax increase: not for wars, not for disaster relief, not for homeland security, not for social programs. He sold his soul to the Devil, and signed the Norquist no-tax-increase pledge, helped the rich to get richer, and helped GOP to defraud the U.S. Treasury of $19 trillion.
Barack Obama shares his annual summer reading list — and one of the authors is so honored
Tanya Edwards,Yahoo
My first comment [8/20/18]: I would like to know; whether, Barack Obama read the book I sent to him: "The Tax Guardian"?
My second comment [8/20/18]: I sent Barack Obama my book--"The Tax Guardian", when, he was President: I would like to know whether: he read it? I also sent one to Bill Gates, Howard Schultz, CEO of Starbucks, and Eli Broad, these three sent it back; but, Obama never acknowledged receiving it. That shows he is not a true man: this book is more helpful for him than this other junk he is reading and that goes for Bill Gates--also. “The Tax Guardian” is not on Bill Gates read list, so, he is not interested in solving America’s Debt Crisis.
My email: WPiccatax@gmail.com
Posted 2/1/18 NOTICE
Addendum [Tax Code for Churches] added to MY TAX PLAN
Posted 2/1/18 SOTU TV
Donald Trump sounded like an American patriot, but, that is undermined, by the fact, he hates paying taxes. The GOP tax cut bill he signed is an estimated $1.5 trillion rip off – theft -- of the US. Treasury, the Nation he professes to loves; therefore, he is a big phony. He forgot to mention in his State of Union Address, the National Debt grew $723 billion, since, taking office and that the U.S. Treasury Department announced, that it expects to borrow $441 billion in the January-March quarter, the largest in eight years: that means: those, like himself, getting big tax cuts, are not paying for government expenses, the benefits they receive. He says, he hates to pay taxes, because the way the government spends our money. He did not tell taxpayers: he spent $49 million of taxpayer money playing golf in his first year of office. One professional says, “he cheats like hell” playing golf also. He can’t love America—and hate paying taxes. He is Con Man. He tells voters how much there are going to save from the tax cuts: he does not tell them: It will be added to the Deficit, plus interest. He is a Fat Rich Con Man.
Posted 12/28/2017 Critique of GOP Tax Cut and Jobs Act of 2017
Latest edit and correction: 2/3/2019
What four sycophants said following the passage of HR I:
V.P. Mike Pence, “an agenda that truly restores the country.”
Sen. Orrin Hatch, “you’re one heck of a leader.”
Rep. Paul Ryan, “exquisite presidential leadership.”
Rep. Diane Black, “thank you President Trump” ….. “for making us Great again.”
These republicans and others praised Trump for a tax bill that enriches the wealthiest Americans and loots the Uncle Sam of an estimated $1.5 trillion in ten years: 71% of the benefits going to the top 5 percent but touted as Middle-Class focused tax cut: That is treason:
Here is why it is treason:
GOP tax reform plan is a Tax Cut Scam:
It cuts the top rate from 39.6% to 37%: people earning $10 million annually will save: $361,435 in taxes: it should be increased and made progressive to the top levels: like, the graduating income tax of 1934, that is the correct design and adjusted for inflation, that would be about right for today; because in 2017, the federal deficit was $666 billion.
It is a fakata income tax plan: it hit those in the third bracket: $38,700 to $77,000 the hardest with a 10% increase in the tax rate.
Those in seventh bracket: $500,000 and over: it hit with the softest tax rate increase of 2 percent. It should be a 2% increase on all tax brackets; instead of 2, 10, 2, 8, 3, 2 percent tax rate increases. The Trump-GOP income tax rates are erratic and discriminatory, favoring the rich.
The correct form of the graduating tax: equal tax rate increments from the bottom to the top of the income scale: this GOP tax scam is not: it turns flat at $500,000.
As the National debt increases as a percentage of GDP: the estate tax exemption should be lowered to collect back taxes from under taxation: the GOP-Trump plan doubled the exemption from $5,490 million to $11.2 million for singles and $22.4 million for married couples: that is backwards.
And, because, the basis step-up rule was not repealed; now, the richest Americans can pass $11.2 million to heirs tax free: $22.4 million for couples; and neither, the estate or recipients pay the capital gains tax on appreciated assets. That is a huge tax give away to the wealthy and cheats Uncle Sam of his contribution.
None of the estate tax schemes the rich used to avoid the estate tax were eliminated: it is a tax plan made by the rich for the benefit of the rich: that is robbing the Nation.
Republican Reagan, George W. Bush, and Trump are all liars: they all claim their tax cuts will balance the budget: they spiked the deficits instead: Math says, Trump’s will do the same.
Every type of income of the rich is taxed lower than the tax on wages of workers in our Tax Code and nearly every conceivable way to avoid taxes has been legalized or ignored.
I. Dividends are taxed lower than wages.
II. Capital gains are taxed lower than wages.
III. Capital gains and dividends not included, when computing the AMT: another big tax break for the richest Americans.
And, a new big one was added to the GOP Tax Act: partnerships, sole proprietors, and S-corporations get a 20% tax reduction on income up to $157,500 for singles and $315, 000 for couples before phrasing out: Republicans argued: small business have been crushed by a higher tax burden than corporations.
That is phony argument for these six reasons:
1. Shareholders of corporations will pay 21% tax on profits and a 20% tax on dividends: a total rate of 41%.
2. Owners of these three entities only pay a tax on company profits that is passed through to owners and taxed as their income, but not all at the new top rate of 37%, but lower rates on each of the 6 lower bracket; the average rate would be lower; than, 37%.
3. These business men get all kinds of business expense write-offs that they personally benefit from; not accorded to workers; so, this is another big tax break for wealthy Americans.
4. Corporations pay tax on profit: these entities don’t: they pay on profit distributed to owners: that is taxed as income; but, they don’t distribute all profits.
5. About 80 percent of the tax cut on existing pass-through income would flow to households with income over $1 million, according the the CBPP.
6. The lower pass-through rate would not benefit low and middle income Americans that much, because, of the loss of tax revenues of $770 billion in 10 years, according to the CBPP.
7. Donald Trump, Jared Kushner, his son-in-law, and 79 congressmen will reap a tax cut derived from real estate income under this provision; that is, likely, why it was inserted in the Bill.
Trump promised to tax “carried Interest” as ordinary income during the campaign: that never happened: he lied to the American people to get votes; then, reneged.
For those that don’t know the meaning of “carried interest” is a tricky term: it means managers of hedge and equity funds: their 20% compensation on investor's profits are taxed as capital gains: that is fraud. They invested nothing.
The corporate tax cut from 35% to 21% was excessive: 25% to 30% is better, until you learn what the effective rate will be: GOP plan did not eliminate corporate accounting tricks to lower tax.
This corporate tax cut will lower the effective rate more.
The GOP plan changes the tax on corporate foreign income to territorial: that is bad for the Nation for three reasons:
1. It means: they, now, will move operations to lower taxed countries and not need to pay tax to United States on profits in foreign countries.
2. If, American resources, research, technologies, and labor were part of these products manufactured or sold the Motherland should get part of the profit [or benefit].
3. Corporations get the benefit of national and international defense from the United States; but, avoid paying for it: by moving operations to tax havens that don’t provide for defense.
Another bad change: The corporate AMT repealed.
Trump increased the Defense Budget to $700 billion; but, cut individual and corporate taxes: that is treason. He is like, George W. Bush, who cut taxes on the wealthy during two wars, and Reagan who increased military spending and cut taxes on the wealthy. They want strong military without paying for it.
The Trump tax plan did not eliminate Wall Street and special interest loopholes that have been so good for wall street investors, and people, like Trump, but unfair to American workers that he promised during the campaign: he lied: he deceived voters to get elected.
Trump says this tax bill is a Xmas gift for the middle class and workers: What it is, a future reduction in social programs: Social Security, Medicare, Medicaid, education, etc. to reduce deficits created by tax cuts; mostly, on the wealthy and corporations and in the end -- a bigger tax bill to pay by the increase in national debt: not a gift.
One big change: making casualty losses for natural disasters; like, wild fires, floods, tornadoes, and hurricanes, tax deductible only, if declared natural disaster by the President: that is diabolical. That means: these casualty losses are tax deductible, only, when he says so. He is a very vengeful person: He might declare a natural disaster for Texas, that is strongly republican, but, not for California that did not vote for him.
Whether a tornado destroys 5 homes or 100: they deserve the same tax deduction.
There were a total of 8,779 wild fires in California in 2017: Trump only declared one a Natural Disaster in Oct-Dec. Next year, the people that lose homes in wild fires will be SOL: they won’t be able to deduct causality losses from their federal income taxes unless Trump declares a Natural Disaster: that is wrong.
Most of the sale’s pitch included a doubling of the standard deduction: it seldom mentioned: the $4,050 personal exemption was eliminated, a net tax deduction gain of $2,700; but, the $4,050 deduction for independents was also eliminated; therefore, a gain for some, a loss for others.
The doubling of the child tax credit was for the purpose—getting the votes to pass huge tax cuts on the wealthy and corporations increasing the national debt.
That is not a good trade off: the ultra-rich win.
The GOP tax cut bill creates more income and wealth inequality: Reagan, Bush, did it, now, the Trump is doing it and people voted for it, let themselves be deceived by the Masters of Rhetoric.
This is one of the worst tax scam ever passed by the U.S Congress: I think, the people should pass a public referendum: executing these people who drafted and voted for this bill.
Roosevelt, Truman, and Eisenhower would piss on it.
I predict this GOP-Trump Tax Cut and Jobs Act of 2017 will have a bad ending: the same as the Reagan and G.W. Bush tax cuts; mostly, on the wealthiest Americans.
Twice, trickle down economics did not work: It won’t work this time—either. This tax cut will empower the top 1 percent, even more, and transform this nation into an Oligarchy.
Remember, an increase in the debt means higher interest costs and inflation, a higher cost of living, the bottom 80 percent will not benefit and may have a negative impact: long term.
You are yet to hear what comes next: new regressive tax and fee increases and cuts in social programs to reduce deficits caused by the tax cuts on the wealthy and corporations.
Cutting taxes, favoring the rich and corporations, when, you have a $666 billion fiscal deficit: is a violation of common sense, it should be a tax increase.
America is not presently overtaxed—based on benefits received. It is under taxed –it did not pay for $19.6 trillion worth of benefits received since 1980—due to Reagan and Bush’s tax cuts.
This GOP-Trump tax cut bill constitutes anti-democratic legislation: 68% of voters think taxes on the wealthy should be increased, 65 percent of Americans say large corporations pay too little in taxes; yet, the republican criminal syndicate controlling the Congress cut their taxes.
Republicans don’t listen to reason when in power. They lied, saying: it was a tax cut to create jobs. There are other ways to create jobs; than, to cut taxes on the wealthy.
It was rushed and pushed through Congress without informing the voters of its contents: that is sinister and violates the Constitution: they made a pact with Norquist.
Trump did not replace Obamacare with a better plan: that he promised. This bill leaves 13 million without health care insurance including 5 million on Medicaid and will increase healthcare premiums.
Trump said of the tax bill “one of the great Christmas gifts to middle income people”: that is false long-term: what it will do: make the rich richer and add to the National debt.
Higher interest cost on debt, inflation, the future enactment of new taxes to replace tax cuts on the rich, and future cuts in government social programs to reduce deficits: will out weight low-income and middle-class tax cut benefits.
The GOP controlled Congress made no attempt to balance the budget by raising taxes: the sane, practical thing to do with cuts in expenses. When republican are in power: the first thing they do: cut taxes on the rich; regardless of consequences: Reagan did it, G.W. Bush did it; now, Trump did it.
This GOP Tax Cut also means the Federal Government will have to borrow $1 trillion to pay to rebuild the nation’s infrastructure: that does not make sense.
Who is to blame: The American voters: they voted the Republican criminal syndicate into office, they let themselves be deceived, because, they are for themselves, before, they are for the Nation; like, Donald Trump.
There was no public outrage!
Supposing, the tax act does not pay for itself: do these people who got tax cuts repay the money: no, they keep it and stick the Federal Government with the deficits.
That is what happened to the Reagan and G.W. Bush tax cuts.
President Trump told the people; publicly, following the passage of the Tax Cut and Jobs Act, it was “a tremendous thing for the American people”: he lied.
What he told wealthy friends privately dining at Mar-a-Lago: “you all just got a lot richer”: that is the truth.
Despite the facts, the polls, the criticisms: the Republican controlled House and Senate without a single vote from democrats passed this Tax Reform Scam – not to help the middle class – or create jobs – but, as Sen. Lindsey Graham warned that if Republicans failed to pass the tax plan, “the financial contributions will stop.”
For this reason, and his own benefit: President Trump signed it.
;
Rep. Kevin Brady: This bill prioritizes middle-class tax ...
Fri, Dec 15 9:32
MY comment: Rep. Kevin Brady is an in your face liar.
My Tax Plan moved to the Tax Guardian Menu:
Posted 10/15/2017:
Trump Tax Plan: What the Death of the Estate Tax Really Means for Average Americans
Dan Caplinger, The Motley Fool
October 15, 2017
My comment: If, people correctly understand the estate tax, which Republicans, pejoratively, call the “death tax” they would not want it repealed. It is a just tax and the exemption should be lowered and graduating rates restored, to collect back taxes owed the federal government from under taxation since 1981: the size of that under taxation--the growing $20 trillion National Debt. That under taxation allowed the top 10% to grow exceedingly rich - to the detriment of Uncle Sam: they did not pay for the benefits received; therefore, the estate tax should be strengthened, not repealed. The repeal of the estate tax, the goal of the Republican Party, allows the super rich to transferred their entire multi-million and billionaire dollar estates from under taxation on income, capital gains, and dividends to their heirs tax free and dumped their public debt (i.e., back taxes owed] on the next generation that did not create it.
Donald Trump is one of those persons: that under paid his taxes.
Posted 10/19/17: This is what I have been saying for a long time!
Americans Are Gravely Mistaken About The 'Death Tax'
Arthur Delaney
HuffPost October 19, 2017
My comment: Arthur Delaney is correct!
Posted 10/2/2017 Norah O’Connell blew it!
Remember what I said, the Mass Media is keeping quiet on the fraud being perpetuated by Republicans in the U.S. Congress:
It happened again, 1 day afterwards, on 60 Minutes, when CBS’s Norah O’Donnell interviewed Steve Scalise [R- La]:
She focused on the facts of the shooting: not the motivation behind it: the disgraceful behavior of Republicans in Congress.
Steve Scalise is not an innocent victim:
He signed the Devil’s no tax increase pledge.
He voted to repeal the Estate Tax.
He lied about it…. to the American people.
It is a fair tax and the government’s last chance to collect back taxes owed at the time of death from under taxation since the Reagan’s and George W. Bush’s tax cuts on the rich, that skyrocketed the National Debt.
He said, “Never voted for a tax increase and never will”—that moved him up in the Republican Party to Majority Whip in the House:
No different than a Don in the Mafia.
He is member of the Republican Party, which is a criminal syndicate controlling the US Congress. They lie about tax reform just like Trump.
However, on Sixty Minutes, CBS’s Norah O’Donnell characterized Scalise as an American hero, the innocent victim of a madman: not the gangster he is.
She had sympathy for him….
The program missed the opportunity—to tell the American people the truth [the motive] behind Hodgkinson’s act.
The rigging of the tax code to favor the rich.
Norah O’Donnell, the voice of the establishment, allowed Scalise to characterize Hodgkinson as a madman, “hell bent on killing us”, rather, than a true America Hero, killing these lying, corrupt Republicans: that refuse to raise taxes to pay for government expenses; such as, healthcare, national defense, homeland security, natural disasters, etc.
That is how they get funding from the altra-rich.
Posted 9/30/2017 Crooked Trump and His Team
Trump says, his tax plan is “ not good for me”: That is a damn lie; but, here is the real problem: why is the U.S. Congress and the U.S. Justice Department allowing President Trump to lie to the America people; habitually, without consequences --or impunity. If, the U.S. Congress won’t impeach: and the Justice Department won’t put him on trial—for lying, misrepresentation and incompetency, that leaves the people no other choice than –to assassinate: to prevent the top 1 percent from stealing more money from the U.S. Treasury and added to the National Debt by rigging the tax code for their benefit, the same as Reagan and George W. Bush did. Now, Trump is using the same strategy to get support for a big tax cut on the rich: by propose a tax cut on the middle class and double the standard deduction: that is irresponsible.
Same applies to Gary Cohen who claims the wealthy won’t benefit—and Steve Mnuchin, who claims Trump’s tax plan will cut the deficit.
These three men can be compared to Hitler, who said he would make Germany Great again, Heinrich Himmler, Hitler’s chief adviser, and Joseph Goebbels, Hitler’s propagandist.
The consequences of these Republican tax cuts will add to the wealth of the top 1 percent and spike the National Debt, the same as Ronald Reagan and George W. Bush. They also lied to the American people.
The Mass Media is keeping it quiet.
If, the Republican Party passes a tax cut that majority of the American people oppose: that is plutocratic fascism.
Better to put them on trial –now---for Lying to the American people, than, allowing them to enrich the wealthy more and adding to our National Debt.
The U.S. Congress should force Trump releases his tax returns—as he promised to the American people before being elected.
If, they don’t—they are allowing Trump to lie.
Seeing how much taxes he paid—will tell us how corrupt the present tax code is and what to do about it.
If, the US Congress won’t force Trump to release his tax returns—as promised-- then the US Justice Department should force him to--fine, etc.
It is also time to bring George W. Bush to justice for the offenses he committed while president: He swore his allegiance to Norquist.
Trump I read did the same thing.
That’s also grounds for impeachment. He cannot serve two different masters: Norquist and the American people.
Repealing the Estate Tax means death to democracy—and birth to even stronger plutocracy.
That is grounds for getting rid of the three enemies of the people and the Republican Party, a criminal syndicate, controlling the U.S. Congress.
Hear is what is what Majority Whip Steve Scalise (R-La.) said this week, “the vast majority of our members in the Republican conference have never had the opportunity to stand up for small businesses who are threatened by the death tax everyday.”
You know what: that is a damn lie.
He got what he deserved, a bullet to his hip. Trump welcomed his return to Congress: He can count on his vote to kill the estate tax.
Steve Scalise can be compared to Hitler’s Hermann Göring, commander of the Luftwaffe. Killing the estate tax is a long term goal of the rich: it means they steal more money from Uncle Sam and gain more power: the goal of Hitler.
And, they are doing it by lying to the American people.
It has no effect on small businesses…. What it does—it allows people like, Trump who got rich from under taxation, since 1981, to transfer this wealth to their heirs tax free—and dump their public debt on the next generation that did not create it. That is a multi-trillion dollar fraudulent tax scheme of President Trump and the Republican Party.
George W. Bush is a main culprit and deserves the “death” penalty. He, actually, repealed the estate tax for 1 year, in 2010.
I should say, at a crossroads: what will it do.
Yahoo News
Gary Cohen Thinks You’d Have To Be a Real Schmuck To Pay the Estate Tax
August 29, 2017
My comment: The way to fix the problem is not repeal the estate tax, but, to close the loopholes, lower the exemption, and make it progressive, so that the federal government can collect back taxes owed, from these multi-million and billion dollar estates that got rich, from under taxation from the Ronald Reagan and George W. Bush tax cuts on the rich, which skyrocketed the national debt: that is legally stealing from Uncle Sam. Steven Mnuchin and Gary Cohn is OK with that -- and want to rob the federal government again by repealing the estate tax so that the super rich keep their ill-gotten gains. They are the real Schumcks, bastards, working for Donald Trump, the Big US Thief. Republicans in Congress have made it legal, by rigging the tax code.
Their goal now--repeal the Estate Tax!
Trump: Bannon Is Wrong, I’m Not Raising Taxes on the Rich
The Daily Beast 8/1/2017
My comment: Bannon is right: Trump is wrong. If, Trump signed the ATR pledge like Norquist says, he should be impeached for violating the Oath of Office and the U.S. Constitution. Trump cannot swear his allegiance to Norquist, the Devil, who advocates not raising taxes for any reason including wars, homeland security, natural disasters, healthcare, reducing the National Debt, etc. That is irrational.
The Supreme Court should rule the Norquist no-tax-increase-pledge for any reason unconstitutional. Signing it is like determining a person is guilty or innocent before you go to Trial and hear the evidence for a bribe.
Knowing you will likely get campaign donations from the rich and corporations or GOP supporters if you sign, and not get campaign donations, if you don’t sign is the same as a bribe. This is one of the main reason the U.S. has a rising $20 trillion National Debt – over 90% of Republicans in the Congress have signed the Norquist pledge and have blocked tax increases going back the Reagan era to pay for legitimate government expenses and the rich are getting richer and now control the House, Senate, and WH.
-----------------------------------------------------
Here are some things said by James T. Hodgkinson who recently shot republican congressman Steve Scalise, who signed the Norquist pledge:
“We all know that the rich don’t pay enough taxes.”
“I have never said, ‘life sucks’ only the polices of the Republicans.”
“Trump is a traitor. Trump has destroyed our democracy.”
He posted this cartoon on Face Book:
“How does a bill work? That’s an easy one, Billy, Corporations write the bill and then bribe congress until it becomes laws. That’s exactly how it works.”
James T. Hodgkinson should be considered a national hero for declaring war on the republican criminal syndicate in Congress.
Notice: posted [7/29/17] new page on the Menu: The O.J. File
Ryan Talks Tax Overhaul: 'Let's Just Start Over'
WSJ Live Tue, Jun 20 11:24 AM PDT
My comment: Speaker Paul Ryan is manipulating the facts: don't trust him. The tax code needs reform, but not by the GOP criminal syndicate controlling both houses: it going to be tax cut on the rich. They will misrepresent the facts to convince you it will create jobs. Donald Trump, who fights like hell to pay as little taxes as possible, will sign the Bill.
What you say or think (i.e., the people)-- does not matter: the U.S Congress, as constituted, is going to pass another Ronald Reagan, George W. Bush tax cut on the rich. That is what Republican do when they control the U.S. Congress.
That is why James T. Hodgkinson was justified in what he did. Republicans are not listening to or representing the majority of people, when it comes to tax reform.
Speaker Ryran: We want to get rig [rid] of the estate tax Fox Business Videos Tue, Jun 20 11:00 AM PDT
My comment: The estate tax should be strengthened -- not repealed -- to collect back taxes owed, since 1981. Speaker Ryan is crook.
Posted: 6/15/17 James T. Hodgkinson --
shoots Rep. Steve Scalise, Republican Majority Whip in the House, in the hip –during a baseball practice of the republican team!
Rep. Kevin Brady: This bill prioritizes middle-class tax ...
Fri, Dec 15 9:32
MY comment: Rep. Kevin Brady is an in your face liar.
My Tax Plan moved to the Tax Guardian Menu:
Posted 10/15/2017:
Trump Tax Plan: What the Death of the Estate Tax Really Means for Average Americans
Dan Caplinger, The Motley Fool
October 15, 2017
My comment: If, people correctly understand the estate tax, which Republicans, pejoratively, call the “death tax” they would not want it repealed. It is a just tax and the exemption should be lowered and graduating rates restored, to collect back taxes owed the federal government from under taxation since 1981: the size of that under taxation--the growing $20 trillion National Debt. That under taxation allowed the top 10% to grow exceedingly rich - to the detriment of Uncle Sam: they did not pay for the benefits received; therefore, the estate tax should be strengthened, not repealed. The repeal of the estate tax, the goal of the Republican Party, allows the super rich to transferred their entire multi-million and billionaire dollar estates from under taxation on income, capital gains, and dividends to their heirs tax free and dumped their public debt (i.e., back taxes owed] on the next generation that did not create it.
Donald Trump is one of those persons: that under paid his taxes.
Posted 10/19/17: This is what I have been saying for a long time!
Americans Are Gravely Mistaken About The 'Death Tax'
Arthur Delaney
HuffPost October 19, 2017
My comment: Arthur Delaney is correct!
Posted 10/2/2017 Norah O’Connell blew it!
Remember what I said, the Mass Media is keeping quiet on the fraud being perpetuated by Republicans in the U.S. Congress:
It happened again, 1 day afterwards, on 60 Minutes, when CBS’s Norah O’Donnell interviewed Steve Scalise [R- La]:
She focused on the facts of the shooting: not the motivation behind it: the disgraceful behavior of Republicans in Congress.
Steve Scalise is not an innocent victim:
He signed the Devil’s no tax increase pledge.
He voted to repeal the Estate Tax.
He lied about it…. to the American people.
It is a fair tax and the government’s last chance to collect back taxes owed at the time of death from under taxation since the Reagan’s and George W. Bush’s tax cuts on the rich, that skyrocketed the National Debt.
He said, “Never voted for a tax increase and never will”—that moved him up in the Republican Party to Majority Whip in the House:
No different than a Don in the Mafia.
He is member of the Republican Party, which is a criminal syndicate controlling the US Congress. They lie about tax reform just like Trump.
However, on Sixty Minutes, CBS’s Norah O’Donnell characterized Scalise as an American hero, the innocent victim of a madman: not the gangster he is.
She had sympathy for him….
The program missed the opportunity—to tell the American people the truth [the motive] behind Hodgkinson’s act.
The rigging of the tax code to favor the rich.
Norah O’Donnell, the voice of the establishment, allowed Scalise to characterize Hodgkinson as a madman, “hell bent on killing us”, rather, than a true America Hero, killing these lying, corrupt Republicans: that refuse to raise taxes to pay for government expenses; such as, healthcare, national defense, homeland security, natural disasters, etc.
That is how they get funding from the altra-rich.
Posted 9/30/2017 Crooked Trump and His Team
Trump says, his tax plan is “ not good for me”: That is a damn lie; but, here is the real problem: why is the U.S. Congress and the U.S. Justice Department allowing President Trump to lie to the America people; habitually, without consequences --or impunity. If, the U.S. Congress won’t impeach: and the Justice Department won’t put him on trial—for lying, misrepresentation and incompetency, that leaves the people no other choice than –to assassinate: to prevent the top 1 percent from stealing more money from the U.S. Treasury and added to the National Debt by rigging the tax code for their benefit, the same as Reagan and George W. Bush did. Now, Trump is using the same strategy to get support for a big tax cut on the rich: by propose a tax cut on the middle class and double the standard deduction: that is irresponsible.
Same applies to Gary Cohen who claims the wealthy won’t benefit—and Steve Mnuchin, who claims Trump’s tax plan will cut the deficit.
These three men can be compared to Hitler, who said he would make Germany Great again, Heinrich Himmler, Hitler’s chief adviser, and Joseph Goebbels, Hitler’s propagandist.
The consequences of these Republican tax cuts will add to the wealth of the top 1 percent and spike the National Debt, the same as Ronald Reagan and George W. Bush. They also lied to the American people.
The Mass Media is keeping it quiet.
If, the Republican Party passes a tax cut that majority of the American people oppose: that is plutocratic fascism.
Better to put them on trial –now---for Lying to the American people, than, allowing them to enrich the wealthy more and adding to our National Debt.
The U.S. Congress should force Trump releases his tax returns—as he promised to the American people before being elected.
If, they don’t—they are allowing Trump to lie.
Seeing how much taxes he paid—will tell us how corrupt the present tax code is and what to do about it.
If, the US Congress won’t force Trump to release his tax returns—as promised-- then the US Justice Department should force him to--fine, etc.
It is also time to bring George W. Bush to justice for the offenses he committed while president: He swore his allegiance to Norquist.
Trump I read did the same thing.
That’s also grounds for impeachment. He cannot serve two different masters: Norquist and the American people.
Repealing the Estate Tax means death to democracy—and birth to even stronger plutocracy.
That is grounds for getting rid of the three enemies of the people and the Republican Party, a criminal syndicate, controlling the U.S. Congress.
Hear is what is what Majority Whip Steve Scalise (R-La.) said this week, “the vast majority of our members in the Republican conference have never had the opportunity to stand up for small businesses who are threatened by the death tax everyday.”
You know what: that is a damn lie.
He got what he deserved, a bullet to his hip. Trump welcomed his return to Congress: He can count on his vote to kill the estate tax.
Steve Scalise can be compared to Hitler’s Hermann Göring, commander of the Luftwaffe. Killing the estate tax is a long term goal of the rich: it means they steal more money from Uncle Sam and gain more power: the goal of Hitler.
And, they are doing it by lying to the American people.
It has no effect on small businesses…. What it does—it allows people like, Trump who got rich from under taxation, since 1981, to transfer this wealth to their heirs tax free—and dump their public debt on the next generation that did not create it. That is a multi-trillion dollar fraudulent tax scheme of President Trump and the Republican Party.
George W. Bush is a main culprit and deserves the “death” penalty. He, actually, repealed the estate tax for 1 year, in 2010.
I should say, at a crossroads: what will it do.
Yahoo News
Gary Cohen Thinks You’d Have To Be a Real Schmuck To Pay the Estate Tax
August 29, 2017
My comment: The way to fix the problem is not repeal the estate tax, but, to close the loopholes, lower the exemption, and make it progressive, so that the federal government can collect back taxes owed, from these multi-million and billion dollar estates that got rich, from under taxation from the Ronald Reagan and George W. Bush tax cuts on the rich, which skyrocketed the national debt: that is legally stealing from Uncle Sam. Steven Mnuchin and Gary Cohn is OK with that -- and want to rob the federal government again by repealing the estate tax so that the super rich keep their ill-gotten gains. They are the real Schumcks, bastards, working for Donald Trump, the Big US Thief. Republicans in Congress have made it legal, by rigging the tax code.
Their goal now--repeal the Estate Tax!
Trump: Bannon Is Wrong, I’m Not Raising Taxes on the Rich
The Daily Beast 8/1/2017
My comment: Bannon is right: Trump is wrong. If, Trump signed the ATR pledge like Norquist says, he should be impeached for violating the Oath of Office and the U.S. Constitution. Trump cannot swear his allegiance to Norquist, the Devil, who advocates not raising taxes for any reason including wars, homeland security, natural disasters, healthcare, reducing the National Debt, etc. That is irrational.
The Supreme Court should rule the Norquist no-tax-increase-pledge for any reason unconstitutional. Signing it is like determining a person is guilty or innocent before you go to Trial and hear the evidence for a bribe.
Knowing you will likely get campaign donations from the rich and corporations or GOP supporters if you sign, and not get campaign donations, if you don’t sign is the same as a bribe. This is one of the main reason the U.S. has a rising $20 trillion National Debt – over 90% of Republicans in the Congress have signed the Norquist pledge and have blocked tax increases going back the Reagan era to pay for legitimate government expenses and the rich are getting richer and now control the House, Senate, and WH.
-----------------------------------------------------
Here are some things said by James T. Hodgkinson who recently shot republican congressman Steve Scalise, who signed the Norquist pledge:
“We all know that the rich don’t pay enough taxes.”
“I have never said, ‘life sucks’ only the polices of the Republicans.”
“Trump is a traitor. Trump has destroyed our democracy.”
He posted this cartoon on Face Book:
“How does a bill work? That’s an easy one, Billy, Corporations write the bill and then bribe congress until it becomes laws. That’s exactly how it works.”
James T. Hodgkinson should be considered a national hero for declaring war on the republican criminal syndicate in Congress.
Notice: posted [7/29/17] new page on the Menu: The O.J. File
Ryan Talks Tax Overhaul: 'Let's Just Start Over'
WSJ Live Tue, Jun 20 11:24 AM PDT
My comment: Speaker Paul Ryan is manipulating the facts: don't trust him. The tax code needs reform, but not by the GOP criminal syndicate controlling both houses: it going to be tax cut on the rich. They will misrepresent the facts to convince you it will create jobs. Donald Trump, who fights like hell to pay as little taxes as possible, will sign the Bill.
What you say or think (i.e., the people)-- does not matter: the U.S Congress, as constituted, is going to pass another Ronald Reagan, George W. Bush tax cut on the rich. That is what Republican do when they control the U.S. Congress.
That is why James T. Hodgkinson was justified in what he did. Republicans are not listening to or representing the majority of people, when it comes to tax reform.
Speaker Ryran: We want to get rig [rid] of the estate tax Fox Business Videos Tue, Jun 20 11:00 AM PDT
My comment: The estate tax should be strengthened -- not repealed -- to collect back taxes owed, since 1981. Speaker Ryan is crook.
Posted: 6/15/17 James T. Hodgkinson --
shoots Rep. Steve Scalise, Republican Majority Whip in the House, in the hip –during a baseball practice of the republican team!
Trump tweeted: “Rep. Steve Scalise of Louisiana, a true friend and patriot, was badly injured but will fully recover. Our thoughts and prayers are with him.”
Steve Scalise is not a patriot: Here is why: he said:
1. Never voted for a tax increase and never will.
That is wrong: he won’t raise taxes to pay for the increased cost of wars, homeland security, the increase natural disasters from globe warming, healthcare [for all], repair the nation’s infrastructure or pay down the Natural Debt.
He is a traitor:
2. He signed the Grover Norquist Pledge—not to raise taxes for any reason: that violates the Oath of Office.
That is why we have a $20 trillion National Debt.
3. He says, the estate tax, which the Republicans call the “death Tax’ is an immoral tax and an attack on the American dream." He voted to repeal it.
That is wrong: It is a fair tax. See my page HR 1105 on my website and my 4 videos: Why -- “The Death Repeal Act of 2015” is wrong.
James T. Hodgkinson is the true patriot: he gave his life for a good cause: see his sign in the picture above: Steve Scalise deserves what he got. Three strikes and you are out.
Trump might be next or impeached: he is the head of the snake.
Paul Ryan said, “an attack on one of his is an attack on all of us”: he is wrong, just the GOP criminal syndicate in the U.S. Congress.
CBS’s Scott Pelley on the evening news called it “an attack on the American democracy.” He has got it wrong:
It is an attack on the American Plutocracy.
Posted 4/28/17 Trump’s 1 Page Tax Plan
Here is what the Secretary of Treasury, Steve Mnuchin, said at White House press conference on Apr. 26, when questioned about the newly announced Trump tax plan: he sidestepped the question and said,
"What this is about is creating jobs and creating economic growth."
That is a deceitful sales pitch:
What it does: make the rich richer and paves the way for the takeover of our Republic for which we stand by the super-wealthy, and puts Uncle Sam deeper in debt.
That’s what the President Ronald Reagan and George W. Bush tax cuts did:
Don’t depend on the rich and corporations using their tax cuts to create jobs:
They prefer investing in foreign countries where the returns are better—mfg costs are lower, like Trump, and invest in Hedge Funds, that speculate in derivatives—not job creation; like, Mitt Romney.
Corporations have plenty of money for expansion —they need sales increase.
That is accomplished by innovation, talent, price and quality of product competitiveness, and fair trade treaties, regulations, and practices: not by cutting taxes on the wealthy and corporations.
Corporations paid 33% of tax receipts in 1957 under President Eisenhower; now, they pay only 11%: why would you cut their taxes more.
That is a ruse: voters are being led astray by the Secretary of Treasury, Steve Mnuchin’s, comments and Donald Trump tax plan: both are wealthy con men that deserve to be pilloried in front of the capital building for attempting to steal trillions of dollars of tax revenues from Uncle Sam.
Gary Cohen, Trump’s national economic council director, is also an accomplice to the crime, the attempt to steal from Uncle Sam: stating the standard deduction for tax payers would be doubled: that is the cheese in the mouse trap to get support for the big-big-big tax cut on the wealthy.
He also deceived you by wearing a blue tie: he cannot be a Democrat, if he backs the Trump 1 page tax plan.
Don’t be deceived by his big smile: this is a bad tax plan for you—unless you are in the top 5 percent. The attempt to sell Trump’s tax plan to the public by these two stooges, reminds me what George W. Bush said about his 2003 tax cuts; so, workers take home more pay. That was a misrepresentation: about 50% of the tax cuts went to the top 1 percent.
Sadly, voters have been snookered into electing another Reagan-Bush-Republican tax cutter as U.S. President, and his friends in the Congress, are going to take you to the cleaners by giving themselves a big tax cut on income, dividends, capital gains –and the repeal the just estate tax, which they call the “death tax” and the AMT and give you and your children a big tax bill in the future, their unpaid taxes, the National Debt— an argument which they will use to reduce social programs, and their ill-gotten gains transferred to their heirs tax free –which would create an American Aristocracy, the rule of the hereditary rich, which would be nearly impossible to undo, without a revolution; if, these tax cuts are passed by the Congress controlled by the Republicans; a syndicate of thieves, based on their past voting record, the amount they attempted to steal and stole from Uncle Sam—a big chunk of our 20 trillion dollar National Debt.
The answer to ABC News' Jonathan Karl on whether the U.S. public has the right to know what's in Trump’s tax returns?
Yes, they do. They are critical to the analysis of his tax plan and how he would benefit. A look at his tax returns will also help Congress to reform the tax code: make sure the rich pay their fair share. And, because, he said he would, when the IRS audit is completed before being elected: he; now, cannot change his mind. He must keep his word—or forced to release them by Congress, the people, or the DOJ.
Lying to voters should not be legal.
The biggest evil, however, Trump’s tax plan. It is irresponsible, anti-American, trickle-down economics, self-promoting, misrepresented, a recipe for deficits. It is so bad, Trump should be tried for treason and hung!
Robert Reich: Trump’s latest ruse to boost the super-rich
Newsweek April, 19, 2017
Posted 4/20/17:
My comment: Robert Reich is right: Trump's proposal to cut the budget of the IRS 14.1% is incredibly stupid for 4 reasons...
Posted: 12/6/16 Sixty Minutes [12/4/16]
Scott Pelley asked Paul Ryan: Do you think the rich will benefit the most from your tax reform plan?
Paul Ryan: Here’s the point of our tax plan. Grow jobs. Get this economy growing. Raise wages. Simplify the tax system, so it’s easy to comply with.
He skirted the question.
Scott Pelley: You-- you’re a little shy, when I ask you about the rich receiving the greatest part of the--
Paul Ryan: Well, here’s the problem when you--
Scott Pelley: --of the tax cuts.
Paul Ryan --when you ask these things. Most of that income is small-business income. You have to remember, eight out of 10 businesses in America, they file their business as individuals, as people. And so we think of that as the rich. But it’s that business in the-- in the business park outta Jamesville, Wisconsin, that has 50 employees. And do I want to lower their tax rates? You bet I do.
He skirted the question—again—and his answer corrupt: I don’t think small business owners as the rich, the majority of small businesses don’t have income or profit that puts in them in higher tax brackets – this company in Jamesville, Wisconsin, does not represent the rich and super rich where the big tax cuts occur--and Scott Pelly let him get away with it: he is incompetent, does not understand the tax code, or is highly paid by CBS to follow their editorial polices and Scott Pelly complied: failed to ask the right questions, when he had a good chance to enlighten voters:
He also might be a Republican! The GOP tax reform plan is similar to Trump’s.
It repeals the 35% and 39.6% tax rates and brackets: that is a big tax cut on the top 2 percent of incomers; like Scott Pelley.
If, the Republican controlled Congress repeals the 2010 Patient Protection and Affordable Care Act, a Trump’s top priority, it repeals the Investment Income Tax, a 3.8 Percent Surcharge On Capital Gains, Dividends on higher incomes.
It also repeals the 0.9% Medicare tax on high incomes.
It repeals the Estate and Gift tax: that is a big tax cut on the wealthy, a long-time goal of the Republican Party and billionaire Donald Trump. It is a fair tax, instead of repeal, the estate tax exemption should be lowered and tax rates made progressive to collect back taxes owed from 1981 to the present due to under taxation.
Under taxation is the size of the National Debt: $19.9 trillion and rapidly growing….the Reagan and Bush tax code made the top 2 percent super rich and Uncle Sam super-in-debt and Trump will do the same.
It waives the capital gains tax on the estates of the deceased up to $10 million shafting Uncle Sam of his contribution to capital gains.
It reduces the tax on capital gains, dividends, and interest 50%: three big sources of income of the rich and super rich.
It eliminates the Alternative Minimum Tax on high incomes and corporations.
None of these facts were revealed on 6o Minutes, that is how the Mass Media owned by corporations deceive the masses.
Here, Scott Pelley switches to another subject: his CBS compensation income GOP-Trump tax cut: $250,000 to $300,000. He was shy and sly.
Scott Pelley, the spokesman for the Establishment, failed to properly inform the voters of how the GOP-Trump tax plan makes the rich richer—and increases the National Debt: that is legally stealing from Uncle Sam, the Nation.
Posted 11/12/16 THE FUEHRER
The lesser educated and disgruntled voters of America, unwittingly, gave Donald Trump and the U.S. Congress the power to rewrite the tax code, favoring the rich, which they will do—the same as Ronald Reagan and George W. Bush.
First target: flatten the income tax that will benefit the wealthy.
Next, on the list: repeal the estate tax, Putin did that in Russia that will create an American Aristocracy that will rule this nation.
Trump’s tax plan will reduce revenues and increase the National Debt. It will be difficult to reverse: voters were duped.
Third on the list: lower [or eliminate] the capital gains tax.
Fourth on the list: lower [or eliminate] the dividend tax.
These four tax cuts will benefit the top 1 percent, the most. They will not invest in job creation, they invest in Equity and Hedge Funds.
They don’t require any work.
Hillary Clinton tax reform plan was superior to Trump’s, but, voters did not seem to care. They fell for Trump’s baloney.
Although, he is right on some issues.
He is more like Putin, than FDR.
Hillary Clinton does not have the DNA to be a strong U.S. President. She failed to take on Trump head on: he trampled on her. Problems facing this country are too big for Hillary, worn out and past her prime. She will be happier not being president.
She was also wrong on some issues. Her tax plan had no realistic chance of being enacted with Republicans controlling both Houses. Trump's tax plan will pass, because it is identical to the Republican Party: plutocrats.
So, Americans had no good choices.
Will Trump mollify when in office; probably, some. He will form a government of his loyal supporters and cronies and its going to be fascist.
Street protests have already started….
BREAKING: New Tax Documents Show Trump Used a 'Legally Dubious Method' to Avoid Paying Taxes
Esquire Mon, Oct 31 6:28 PM PDT
My comment [posted 11/2/16]:
What this article did not report: did the stock for debt swap: cheat the federal government two ways?
It allowed Trump to avoid paying taxes on debt forgiven income; that is, money he owed bondholders, that is treated by the tax code as Trump income, but not treated as income, if he makes a stock for debt swap.
That is bilking the government once; if, the stock had no real value: Trump avoids paying taxes on this debt forgiven income and loses no equity.
Secondly, did the bond holders take a tax write off for their bond losses--too: that is bilking the government: twice.
This should be looked into too; if, they accepted stock for debt, then, they cannot take a bond tax loss write off.
If, the stock for debt swap was phony; that is, the stock had no market value equal to the debt at the time of the swap; then, Trump owes back taxes.
The proper way to do this: sell the stock—and pay off the bond holders: that makes it a legitimate transaction.
That did not happen: this swap maybe illegal—a way to cheat the federal government: one way, if not two, maybe three; if, Trump avoids taxes on forgiven debt-income, takes a business tax loss write off--on the stock-debt swap, that had no equal market value at the time of the swap, and bond holders--also take a bond tax loss write off. That is three ways.
IRS should take another look at this!
Posted 10/5/16 The VP Kaine-Pence Debate
The Mass Media owned by corporations and the wealthy is favoring Trump for president by
predicting he will win, hoping he will win, their spokes people… suggesting how he can beat Hillary Clinton—but that is not the true Trump, this would be the acting Trump to get votes, the true trump is a dangerous egomaniac Why, does the GOP establishment like him: He will cut their taxes.
He says, many rich are not paying taxes and he will fix it; but, his plan: eliminates the alternative minimum tax, the estate tax, and flattens the income tax: these are more tax cuts on the wealthiest Americans-- and his proposal to lower the corporate tax down to 15% per cent is too low: 20% is better with no loopholes.
ABC’s post review of the VP Kaine-Pence debate was bias and wrong. Matthew Dowd said it was a draw. He is an idiot. The big difference, why Tim Kaine won hands down, he was on the right side: Pence on the wrong side: there is no defense for Trump’s proposals: he is a dangerous ignorant egomaniac. Pence, says he is a Christian—no Christian would won join the team of Trump—he is unfit to be president, he is something akin to Hitler, he was going to make Germany Great Again, like Trump. What was Pence’s response to Kaine’s statement: Trump did not say that. He lied. His response, other than that, he had none—except a dumb looking guilty smile.
Do you think Trump is fair minded, here is what he twitted about Tim Kaine, a true patriotic American, who pays taxes like Hillary Clinton, he "looks like an evil crook out the of the Batman movies.” This correctly—defines Trump: not his looks, but, what he stands for: he doesn't pay federal and state income taxes:. He is the crook, receives great benefits and pays little or no taxes: and his wealth is gained in part by cheating people: investors, laborers, contractors, and students. In the last 18 years, has Trump supported or proposed making the tax code fair: No. He donated to Reagan's in 1984, American's biggest tax cutter on the wealthy. Trump took advantage of every loophole, and may have tried to screw Uncle Sam, we don't know yet. He spend donated money to his charity--on himself. He is the evil crook. I saw an honest, smart Tim Kaine. Mike Pence, if you look carefully, he was embarrassed trying to defend Trumpisms. That was the dumb simile on his face, when asked to defend Trumps crazy statements and proposals. He had no defense, except: Trump did not say that.
Mike Pence is the crook, he voted for the George W. Bush tax cuts and reduced taxes on dividend and capital gains during two wars. He is evil.
Yes, Tim Kaine interrupted too much, but, it was because, Pence was making false statements; like, Obama-Hillary was to blame for ISIL. That is false: the Muslims are to blame, they were sympathetic to an Islamic State, until they realized how bad it is. Haven't you notice, young Muslim men are fleecing to Europe --not joining the fight against ISIL.
Posted 9/23/16 Yahoo Finance News
Hillary Clinton Wants to Raise Top Rate for Estate Taxes to 65%
September 22, 2016
My comment: The tax is fair, since, the Reagan and G.W. Bush tax cuts the top 1% have grown rich at the expense of the federal government. Now is time to collect these back unpaid taxes before these large estates transfer this legally stolen money to heirs tax free and dump their public debt on the next generation who did not create it.
I have justification for saying: it was legally stolen: look at my You Tube videos and postings on the Tax Guardian.
I posted this comment five times and it was deleted--by Yahoo News [Finance]
This is their message: Oops, Comment did not load --Retry? I did and got the same message.
NOTICE
New tab [or page] added to the menu: Nate Parker and T.D. Jakes [10/10/16].
New tab [or page] added to menu: Marriage [8/8/16] [deleted and re-posted: 8/26/17 as --George Wither's....]
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New tab added to the menu: Second Amendment [7/9/16]
Posted: 7/29/16 Comparing the two VPs…
Mike Pence, Trump’s pick, is an unfair man, like Trump:
He signed the Devil’s no tax increase pledge, refuses to pay for government expenses for any reason. That is unconstitutional.
Voted to repeal of the Estate Tax, which permits the estates of multi-millionaires and billionaires to transfer their estates tax free to their heirs and their public debt to future generations which did not create it, which Trump supports.
Voted for George W. Bush $958 billion tax cuts in 2001 [bad].
Voted for making permanent the George W. Bush tax cuts in 2002 [during the Afghanistan War]. That is wrong.
Voted for retaining the reduced tax cuts on capital gains and dividends in 2005 [during two wars]. That is very wrong.
He co-sponsored the Fair Tax Act of 2011. That is not a fair tax. It replaces the income Tax, employment tax, and estate and gift taxes with a 23% sales tax which is a very regressive tax [that is crazy and evil].
Rated 0 by the CTJ.
Tim Kaine, Hillary’s pick, is a fair man, like Hillary:
Keep Bush tax cuts except for the wealthy [good]
Open to some minimum income tax level for everyone [fair]
No budget-busting tax cuts; we can't afford to try it again! [correct]
Balance taxes: let Bush tax cuts expire at the top end [fair]
Supports increasing tax rates [fair]
The big difference: Hillary has revealed her tax returns: the figures are good: Trump has not [or refuses] to make his tax returns public, because the figures are bad; plus, Hillary’s tax reform plan is good: Trump’s is very bad.
Forbes/Opinion
Speaker Paul Ryan And Chairman Kevin Brady Produce A Tax Blueprint To Make America Great Again
by Ralph Benko
7/10/2016
My comment: The tax reform plan of Rep. Kevin Brady (R-TX) and Speaker of the House Ryan (R-WI) is truly just the opposite of great: bad, evil, wrong...
Tax Reform Proposals In Approved Draft Of Democratic Platform Are Most Progressive In Modern History
06/29/2016
My comment: The tax reform proposals of the Democratic platform are far better than those proposed by the Republicans. Progressive taxation is fair. Don't be deceived by those that criticize it--the anti-tax idiots.
Ryan, House Republicans offer plan to slice U.S. tax rates By Susan Cornwell, Reuters
6/24/16
My comment: Bad idea -- the Republican House plan.
House bill cuts IRS funding
by Vicki Needham
5/24/16
My comment: Stupid vindictive Republicans.
Notice [6/20/16] -- new tab added to the menu: Daystar and Con Artists
Notice [5/13/16] -- new tab added to the menu: North Carolina's HB 2 Law
Notice [5/2/16] -- new tab added to the menu: My comments on the Estate Tax
Notice [4/21/16] -- new tab added to the menu: The Cube [law]
Notice [3/27/16] -- mew tab added to the menu: The One State Solution
Notice [4/20/16] -- new tab added to the menu: My comments on Yahoo News, etc.
Notice [3/10/16] -- new tab added to the menu: The Rotten Head of Apple
Notice [2/19/16] -- new tab added to the menu: The History of the Income, Inheritance, and
Corporate Taxes in a Nutshell and Quotes
Notice [2/12/16] -- new tab added to the menu: No-Tax-Increase-Pledge
Notice [2/4/16] -- new tab added to the menu: Beasts of Revelation
Notice [1/22/16] -- new tab added to the menu: My Medicare Plan for All
Posted: 1/18/16 The rating of the tax plan of the presidential candidates:
DEMOCRATS:
Bernie Sanders: A
Hillary Clinton: B
Martin O’Malley: ? [has not laid it out]
REPUBLICANS:
Jeb Bush: C [changed to D after New Hampshire Republican debate]
Donald Trump: D [I told you he was an idiot: he said, the U.S. is the highest taxed nation in the world.]
John Kasich: D
Marco Rubio: D─ [changed to F]
Ted Cruz: F [disgusting Motherland F**ker: would eliminate the IRS]
Ben Carson: F [crazy]
Posted 2015 Analysis of the Trump Tax plan
Trump said, “Nobody knows the tax code better than I do”: that is BS. His expertise: tax avoidance.
Here of the 14 defects of the Trump tax plan:
1. It lacks details: does he plan to eliminate his big tax breaks:
A. the unlimited tax deduction for real estate pros
B. the appreciation tax write off on rental property
2. His plan to increase the tax on “carried interest” is a hoax, currently, it is taxed at 20 percent, plus the 3.8 % Net Investment Income Tax. But, if, he reduces the top income tax rate of 39.6—to 25% and taxes long term capital gains the same as income: there is little difference, because, he also plans to eliminate the Net Investment Income Tax of 3.8%: the net increase tax on “carried interest” would be 1.2%.
3. He plans to tax corporate income at 15 percent reduced from 35: that is too much. It should be at least 20% without tax loopholes.
4. His plan taxing private enterprises the same as corporations at 15% is a bad idea. Corporations profits are taxed at the corporate level and shareholders: that is not true of privately owed enterprises. It cheats Uncle Sam of his contribution to profits.
5. He calls reducing the marginal tax rates from 7 to 4: simplification. That is BS. Simplification is when you reduce the number of pages and rewrite the tax code from legalese to simple English: it has layers of changes: strikeouts and inserts.
6. He plans to reduce the number of marginal tax rates from 7 to 4: make it less progressive—removing the top three rates: 28%, 33%, and 35%; like, Reagan and Bush. That is the wrong direction: increasing the marginal tax rates from 14 to 28 would be fairer; like its original design.
7. His four marginal tax rates are unfair for a number of reasons:
A. The zero tax rate or exemption should be no higher that what covers basic need: his exceeds that for singles and married couples without children: that cheats Uncle Sam: they receives benefits and services from the Federal government and pay no tax.
B. If, the tax rates increase by 5%: the first tax rate should be 5%. His begins at 10%: that is excessive.
C. His graduating tax rates are discriminatory. The 10% tax rate on lower incomes doubles to 20%. The 20% tax rate on higher incomes increases one-quarter to 25%. In other words, his tax rates are more progressive on lower incomes than on higher incomes.
D. His tax rates: left out the 15 percent marginal tax rate and jumped from 10 to 20 percent.
E. His highest tax brackets for singles and married couples are $150,000 and $300,000, even though, incomes of top 1 percent bring in at least $555,000 and top 0.1 and 0.01 -- $15 million and $53 million (i.e., for D.C.)-- states somewhat lower. In other words, his tax plan is progressive on the bottom 5% of the income scale and flat on the top 95 percent, rather, than progressive from bottom to top.
8. The TPC say, his tax plan will add 10 million filers who will pay no federal income tax to the rolls --over 50 percent. That is the wrong direction; although, a vote getter. It’s a Trojan Horse [deceptive plan] to get votes to reduce taxes on top 5 percent; more so, on the top 1 percent, more so, on the 0.10% and 0.01%: himself.
9. He says, his tax plan will cost him a fortune: that is false. His plan repeals the estate tax: that means his entire estate of $10 billion will pass tax free to his heirs [or recipients].
10. His plan eliminates the AMT: a bad idea, unless there is throughout purging of the Tax Code of deductions, loopholes, and tax breaks. Better: redesign the AMT so it simple—and inescapable
11. The Tax Foundation states: his tax plan would add $10.14 trillion to the National Debt in 10 years after accounting for economic growth. That does not include the additional interest cost. He denies it.
12. His tax plan eliminates the Net Investment Income Tax of 3.8%--a bad idea, unless you eliminate the Affordable Care Act, a bad idea, unless you replace it with a better plan. He needs to explain what that is first. He is a con man: he pushes the tax cut first. Despite Trump’s $250 million annual income, he hates paying for healthcare for the poor
13. Trump’s most outrageous tax cut: he would repeal the estate tax: he calls it the “Death Tax” to debase…. That is a fair and good tax—or correct in principle. It can be designed not to punish family farms and businesses without repealing the estate tax on multi-million and billion dollar estates.
14. Repealing the estate tax would likely result also in the repeal of the gift tax, the unlimited transfer of income during life tax free. This gives the children of the rich an insurmountable advantage over the children of the bottom 90 percent-- creating a royal class of Americans that live on tax free income from gifts and inheritances.
Do you want this loud mouth, self-adulating, Motherland F..ker to sit in the White House?
Read more:
Posted: 10/7/2015 Donald Trump is a Con Man
He told George Stephanopoulos on ABC’s “This Week”, the reason he fights like hell to pay as little taxes as possible—he hates the way the government spends our money: that is a phony excuse [justifying his greed]. He cheats Uncle Sam (i.e., the Motherland), when he greatly benefits and pays little or no taxes.
And under his tax Plan, he would pay less.
He is a stupid republican presidential candidate, who thinks he can solve our problems by waving his Magic Wand [without explanation]: he is a con man like Ronald Reagan and George W. Bush who could not deliver.
Who would pay off the house mortgages, car loans, and credit card debts of the 11 million illegal immigrants that he would deport?
That won’t work: he is a moron.
He tax plan is that of the Republican Party, the same as Ronald Reagan and George W. Bush, making it less progressive.
That is all he has to offer: is a bullshit tax cut to get elected.
He is ignoring the fact: it would add to the National Debt—the same as Ronald Reagan and George W. Bush: two other con men.
Trump says, "The estate tax is a very, very horrible weapon that has destroyed many families. In particular, farms and things where they make an income and they have a certain value and they have to go out and borrow money and they put mortgages on their farms...”
That is phony argument used by mega-millionaires and billionaires to repeal the estate tax on them: only 0.6 percent of family farms owe any estate tax.
Trump said the estate tax is a "double taxation" for families who already have paid taxes on the assets they own. That is lie for two reasons:
1. Based on the present law, capital gains escape taxation in estates that have a net value under the Estate Tax Exemption.
His plan: all unrealized capital gains in the estate of the decedent would escape taxation: Uncle Sam would be cheated out of his contribution.
2. The double taxation argument is defective: the National Debt of over $18 trillion is amount of under taxation since Ronald Reagan.
The estate tax is a fair tax, because, it collects the unpaid taxes from the estate of the decedent—before it is transferred tax free to heirs. That is cheating Uncle Sam of his contribution to wealth building.
Uncle Sam's contribution is the nation’s natural resources, laws, infrastructure, labor force, subsidies to farmers and corporations, economic stimulus money, public education, healthcare, national defense, and thousands of other services and benefits.
Trump would not only transfer his capital gains in his estate tax free to his heirs; but, would dump his unpaid back taxes, since President Ronald Reagan, on future generations that did not create it. His repeal of the estate tax would create one of the biggest, if not the biggest, and most outrageous tax break, loophole for millionaires and billionaires in the tax code. All unrealized capital gains in the estates of the decedents would pass tax free to heirs or beneficiaries and not only cheat Uncle Sam, but create a perpetual American aristocracy and strengthen the rule of the ultra-rich.
He is a deceitful, bully-like, self-loving, greedy Con-Man.