Donald Trump to unveil full tax plan today

[Sprouts Farmers Market ✘]

The reduction in rates proposed here is so significant that I doubt revenue neutrality can be achieved even if every deduction was eliminated.  On the website, there are phrases like “reduces or eliminates other loopholes for the very rich and special interests” and “Reducing or eliminating some corporate loopholes that cater to special interests”, which seems rather thin on specifics.  Which deductions?  How are these things going to add up to enough revenue to pay for this huuuuge reduction in tax rates?  Has anyone done the math on this?

Morden, I know what you mean since there are very few "loopholes" worth cutting. I think he's just playing it off as an economic stimulator alongside his tariffs that will force things to be made in America. More jobs --> Less People --> Higher salaries --> More Tax Revenue. Surely, somewhat significant inflation in that mess, but wasn't there a poll on Atlas where a majority said we should cut the national debt via inflation?

As I said before, I definitely think the rich taxes should be higher under this proposal, but this isn't too bad.

Plus at this point, with 1% inflation, we need a slight bump there anyways.

Haha more like 0 than 1% lol, but my biggest concern is that the American consumers could push that up to 4-6% real fast! AND mixed with deportations lol. Even if Trump has zero influence on the Fed, I wonder what policies could reverse such an acceleration.

Sorry guys, this is a huge tax cut for the rich, and would bankrupt the country just like that Simpsons episode said President Trump would do.

Percentage-wise perhaps and that is a small problem with it, but did you read all the sidenotes about soaking the rich? That's for real. They will still pay a huge portion of it.

[Averroës Nix]

The early reactions suggest that Trump's tax plan is neither "progressive" nor "revenue neutral."

It's no less transparently stupid and contradictory than most post-Reagan fiscal proposals have been, and the populist packaging is nothing new - Jeb did it, his brother did it, Reagan did it, etc., and all relied on innumerate journalists who don't understand what a marginal tax rate is to faithfully regurgitate press release talking points about how much this will help ordinary Americans/the middle class/working families/whatever. Regressive tax cuts + populist rhetoric has been the bread-and-butter of the Republican's political strategy wrt fiscal policy for at least the past thirty-five years.

[Likely Voter]

What a surprise, Trump's tax plan is full of empty promises and magical thinking. And once again the rubes will lap it up even though the fact checkers and experts nerds hate it

[Fmr President & Senator Polnut]

It's a typical BS GOP tax plan, pure and simple.

[The Mikado]

It's worth pointing out that poor people currently pay a negative tax rate for federal taxes (the EITC) and a 0% income tax rate is actually a tax increase.

[Simfan34]

It's a typical BS GOP tax plan, pure and simple.

Say what you want about the Republican Party, but a 15% tariff is not typical.

[Torie]

The early reactions suggest that Trump's tax plan is neither "progressive" nor "revenue neutral."

It's no less transparently stupid and contradictory than most post-Reagan fiscal proposals have been, and the populist packaging is nothing new - Jeb did it, his brother did it, Reagan did it, etc., and all relied on innumerate journalists who don't understand what a marginal tax rate is to faithfully regurgitate press release talking points about how much this will help ordinary Americans/the middle class/working families/whatever. Regressive tax cuts + populist rhetoric has been the bread-and-butter of the Republican's political strategy wrt fiscal policy for at least the past thirty-five years.

I agree with much of what you wrote. Surprised? Anyway, the tax plan does not raise nearly enough revenue, and rolls back progressively to a substantial extent. The real issue is that to slash taxes, one needs to slash spending, and the Pubs know that most spending is quite popular when specified, and the idea of rolling back taxes financed by slashing entitlements, politically toxic. So the fantasy narrative is written that there is much to be cut without being specific, and the balance of the circle squared by supply side theories. And there may be some truth to supply side - at the margins - and probably not much supply action at the tax rates we have and are talking about.  Thus, the idea that supply side will close most of the 10 trillion gap in revenue versus spending in the Trump plan is just f'ing ludicrous. When or when will some Pub candidate have the guts to simply tell the truth to the Pub voters and that living in a fantasy world is simply not the way to solve problems in this nation? When?