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Donald Trump’s Tax Plan Takes Shape
GOP seeks to iron out differences in competing proposals…
GOP seeks to iron out differences in competing proposals…
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Getting your Trinity Audio player ready...
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3 comments
I honestly believe that taxes in this day and time, are nothing more than a tool to keep as many serfs as possible from succeeding or prospering in any meaningful or durable way. It enables the filthy rich to gain more of whatever; be it property, stocks, money, etc. It keeps the serf classes from obtaining a lot of those things, meaning more available to the filthy rich.
Of all the people I know from differing walks of life, including self-employed and small business owners, I have only run across one who told me they actually benefited from those “big” Trumpian tax cuts from his first term. Everyone else, myself included, noticed no remarkable improvement. GovCo prints money with no tangible backing out of thin air, all the time. Why do they need to steal from us if my theory above is not correct?
I am, by no means, filthy rich, and I benefitted from the TCJA. Specifically from the Qualified Business Income Deduction that is available for self employment income, which puts the taxation of that income on a more level playing field when compared to corporations. I have a full time job and a side business for extra income. The QBID allows me to deduct 20% of the income from the side business. At my middle class income levels, that’s meaningful.
The “tax plan” is, and has always been, tax cuts for billionaires and corporations.