Donald Trump's Income Tax Reduction plan is simple, healthy cuts for the wealthy so they can keep pumping up the Stock Market. Nothing thrills Trump more than an ever increasing Stock Market and the simplest approach to keeping the Stock Market rallying is to roll back many environmental restrictions while giving hefty income tax savings to the wealthy.
Many Stock run ups are pumped by the wealthy who are able to pump the Stock Market until eventually the average citizen feels like they are missing out. The Average Citizen jumps in, and suddenly the rug is pulled out, or, Lucy pulls the football away just as Charlie Brown is going to kick it.
Trump's income tax bill could allow the stock market to FALSELY and PREMATURELY reach record levels up and until after the 2020 re–election. If Republicans don't see the benefit in eight years of Trump, then Republicans need to step in and truly whittle the Income Tax bill so that it helps the middle class, and gives a slight benefit to the wealthy as well.
The Corporate Tax Rate should be reduced somewhere to the range of 30% to 27.5%. No double taxation in which taxpayers pay State Income Taxes and Home Property Taxes, and then can't deduct all of it on their Federal Income Tax. Hospital expenses need to be deducted as well. Interest rate charges need to be deductible as well.
Most importantly, in the quixotic quest to originally reduce the number of income index levels, no discussion, none at all, was directed towards CAPPING any of the rates once income reached half a million, or one million dollars, that is where the real scamming is going on. Not only will the richest of the rich get to keep more of their income, they then get much higher dividends from Corporate profits, AND, the super wealthy can then invest and if they lose, can also deduct their losses, the tax cut is literally an endless feedback loop of rollover riches.
However, perhaps the number one issue that was completely ignored was what to do about the coming robot and drone revolution. The Robot and the Drone Industry will create many excellent paying jobs, while dismantling perhaps 3 to 10 times as many physical labor jobs previously done by humans. Did the Republican dominated Congress just give additional wealth to the very people who will try and accelerate the use of robotics and drones to further maximize profits?
Trump now wants to focus on infrastructure. DailyPUMA sees the brutal irony in focusing on infrastructure just as vehicle automation takes hold. Will infrastructure money go to those who are heavily investing in robotics and drone innovation, in essence using taxpayer money to deprive taxpayers of the benefit of the money they pay into the system?
The Aggressive Tone and Nature of Donald Trump in practically everything he does should be ratcheted down by Republican Legislators if Republicans hope to do ok in 2018 and 2020 elections.
Whenever Trump brashly wants something, it's because either he himself, his family, those he is indebted to, or his donors will benefit the most. Republican Politicians need to have figured this out by now and need to come together to do MODERATE income tax changes rather than the radical changes that Donald Trump wants for selfish purposes.
(After this article was written it is rumored that Donald Trump confided to his closest donors that they were going to make out like bandits because of the new tax bill.)
Please consider signing the Debt Neutrality Petition
by clicking here.
