Donald Trump seems to be winging it, but other times he acts with clockwork timing and political precision. The unveiling of his tax plan comes at exactly the right moment, when he needed to deliver something substantive.
Its contents are a mixture of center-right reforms and populist juice that will probably go over very well with a broad swath of the American electorate, although economists of both Left and Right will take issue with his proposals, for widely divergent reasons.
Trump’s unveiling of the tax plan was a tremendous performance. Part of the secret to his success is that he sounds like what many people imagine they would sound like, given a megaphone to shout their discontent into the faces of the U.S. political establishment. That’s why Trump’s popularity doesn’t seem to take much of a hit when he gets rough with likable inflection in his voice. The tax plan in a nutshell on the next page:
Trump 2016
Yeah but didn’t Obama promos they the “Affordable” care act was affordable. There is your answer!!!
I like the plan but i dont see how it could work in real life. We are in extreme debt. How could we ever pay it by lowering our tax rate?
Who are the real losers in Trump’s Tax Return
So, we finally are getting a small glimpse into Donald J. Trump’s taxes and find that he had a tax loss of $916,000,000. Yes, almost a Billion Dollars.
But who are the real losers of this money? Remember, Trump brags that Trump uses other people’s money. Losing his big$#%&!@*toy boat probably hurt him the most but I wonder how much of the boat was actually his, or other people’s money (bank?).
Okay, the Billion $ losers were the Bank, his investors and a significant number of small business owners that he stepped on (and left at the bottom) as he climbed out of the hole.
The Atlantic City casino deal included a restructuring of his debt coming out of his previous bankruptcy debt restructuring wherein he came up with the idea of selling stock. What could be better than Trump stock?
Although the restructuring was restricted to preclude his inclusion of personal debt, he could not resist but include a massive amount of personal debt in the stock deal.
Fast forward, the stock went from $35 / share to $.17. Many of those who viewed the restructuring said that the level of debt was so great that it doomed the Taj Mahl and the Castle Casinos. Even his father:s (Fred Trump) illegal loan of $3.3 million could not save the end bankruptcy.
Okay, so now the losers included the Banks, and who absorbs these bank losses? The public who pays dearly. By allowing the banks to take tax credits for their debt (in fact we the people pay thru increased bank fees as well, as the taxpayers tax credits to these banks makes up for their losses).
Trump ends up with Federal Tax Credits that he can use over as much as 18 years, there again it is US, the real taxpayers that are having to fund infrastructure, schools, military and social services to Help Trump recover his losses.
While it appears that he may have used the system to his advantage (hopefully, we will see if it is all legal) we (the real taxpayers) are all paying multiple times to fund Trump.
Yet Trump claims that he is a genius for using the tax laws to his advantage, and yes, that is just the example of how the system is rigged against the rest of the 99% to prop up and save the folks like Trump.
Did the rest of those that lost their homes get any breaks, NO the Banks took back the homes, dumped them for losses (many times under sweet deal sales arrangements with folks like Trump) and the losses went to those of us who actually Pay Taxes.
Now Trump says that only Trump can fix the rigged system, yet his proposed tax plan offers NO changes to the system that he says is the problem, in fact, the Trump tax plan is a sham to further benefit the 1% at the cost to the real taxpayers of America.
Does anyone really believe that Trump will make any changes that will impact Trump and his brand? I do believe that some in the media will continue to do real investigative research and help expose the Trump disaster?
We can all agree that America has many broken and rigged positions that help the wrong folks. We need change, but Trump is not the one to make the necessary changes. He is simply a Con that has drifted into the system and is playing on the frustrations of the American People. The list of the Trump failures are a testament to his con and I can only how that the public will look behind the curtain the to see what is truly there (even the Wizard of Oz had a heart).
Please America turn off FOX, do some research and read the reports. This is just too important. And VOTE