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All You Need to Know About President Trump’s Tax Policy — 1 Comment

  1. I can’t say that I’m a big fan of most of the tax proposals I see. I think we are continually heading in the wrong direction by eliminating more and more people from having to pay any taxes at all. As we get further into debt, the country will be forced to raise more money and no one will ever get elected campaigning on raising taxes on the lower and middle income classes.

    With today’s computing technology, I don’t see why we can’t come up with a progressive tax rate that would increase by the hundredths or thousandths with each dollar that is earned. The bottom income earners would pay a flat $5.00 or $10.00 and then as income increases to 15k or 20k, they might pay $10.50 or $11.00. My issue is leaving half the country out of the contributing population when their vote counts as much as mine.

    Eliminate deductions entirely other than health care costs, education costs, and start up business costs. I understand the social and economic engineering madness behind the deductions but all they do is create more fraud than it’s worth going after. People who don’t wish to have kids should be given the same deductions as parents. Renters should get the same benefits as home owners.

    The biggest problem I have with the basic structure we use today and Trump is proposing is that there will be an artificial floor created in which someone earning one dollar more than another person is hit with an income tax while the other person pays zero. It makes no sense to me.

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