How many here believe Trump's claim that he will not finacially benefit from the new tax laws?

[NYcarbineer]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

It's amazing how many things they accused Obama of, and threw tantrums over, that they now readily accept and/or excuse in Trump.

No wait, it's not amazing at all. Look at who these people are.

 

[usmbguest5318]

President Trump goes one step further in his repeated claims. He says that the new tax laws will cost both him and his rich friends money, and that those friends are mad at him.

To the extent that they are employees and not business owners, they may well be angry with him. The new GOP tax law strongly favors high-earning business owners over high-earning employees.

Under the old law, high-earners of any stripe were well situated; if one had the money to avail oneself of "this or that" loophole, one would and benefit accordingly. Now, however, one must primarily earn one's money from one's own business activities to obtain the maximum tax code loophole benefits. It's not that the new law stipulates that be the case, and it's generally so that many high employee-wage earners own a small business venture or several. It's that to get the maximum offsets of really, really large sums of employee-wage income, they'll have to earn a lot more from those ventures than they used to in order to report the same sum of taxable income. That said, those very same high-earners also are recipients of the largest and most enduring marginal tax rate reduction, thus lowering nonetheless their over-time effective tax rate.

Below are some specific examples Bloomberg concocted. They are surprisingly sympathetic examples; however, they are what they are -- specific hypotheticals, not representative hypotheticals -- and as such, they're interesting to consider and use as a catalyst for identifying relevant questions for Bloomberg's readers to look closely into their own situation. It's important to note too that what's shown below represents the "year one" situation for only 2018 wage and pass-through income (from a business you own), and how taxes owed on those earnings would change when tax time comes around in 2019. "Year one" of the GOP tax law isn't the year of the law's impact that anyone is taking exception with.

In the pics below, "Tax proposal" refers to the GOP plan

 

[NYcarbineer]

Actually, President Trump goes one step further in his repeated claims. He says that the new tax laws will cost both him and his rich friends money, and that those friends are mad at him. Uh-huh. I wonder if we'll ever meet one of those angry friends who will tell the rest of us how the new tax laws are hurting him financially since I know that Trump will never provide any evidence.

Before I tee up the question in the poll section, I have an observation. Nothing stunning, really. Frankly, it's just the opposite; it's glaringly obvious.

When Obama was president, in the media, talk radio, and on message boards, it was quite common to hear all kinds of people state (claim is a better word) that simple facts about Obama were lies.

One stated that he was secretly a Muslim. I know everyone has heard that one. Another stated that his father wasn't really his father. Another claimed that his book was ghost written by Bill Ayers. Another claimed that he was registered as a foreign student while in college. Of course, the most famous one was the claim that he was not born in the U.S. and was instead born in Kenya which, of course, was championed most famously by Donald Trump.

All of this is just a passing observation to set up my point.

So, the 2016 election takes place, a Republican (obviously Donald Trump) takes office, and what do the supporters of Trump (who are also the accusers of Obama's so-called lies) get as a replacement for President Obama? They (as well as the rest of us, I should add) get an unabashed and unapologetic serial liar as president of the USA.

They are too numerous to mention here even after less than a year in office.

However, let's look at Trump's often repeated latest claim which he's repeatedly stated over and over again. It's his claim that the new tax laws would not only not benefit him financially, but that it would actually cost both him and his rich friends money. Who here believes that?

Forget for the moment the lowering of the top marginal tax bracket from 39.6% down to 37%. Instead, think of the benefit to large holders of real estate during the final reconciliation negotiations between Republicans in the House and Senate. The provision allows owners of large real estate holdings through LLCs to deduct a percentage of their “pass through” income from their taxes. How could that possibly not benefit Trump?

I don't care.

This is all they have left to defend Trump.

 

[dudmuck]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

 

[Norman]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

It's amazing how many things they accused Obama of, and threw tantrums over, that they now readily accept and/or excuse in Trump.

No wait, it's not amazing at all. Look at who these people are.

You have made every excuse possible about Obama. You are still in denial even about the fact that he increased the debt massively.

What an asshole. Absolutely no one should take your whinery seriously.

 

[NYcarbineer]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

It's amazing how many things they accused Obama of, and threw tantrums over, that they now readily accept and/or excuse in Trump.

No wait, it's not amazing at all. Look at who these people are.

You have made every excuse possible about Obama. You are still in denial even about the fact that he increased the debt massively.

What an asshole. Absolutely no one should take your whinery seriously.

You're supporting a tax bill that will add a trillion to the deficits over 10 years and you still try to demonize Obama,

who cut the deficit in half.

 

[DGS49]

Again I say, isn't it perverse that the very same people who claim that Trump doesn't pay any Federal Income Tax NOW say that he pushed this law to lower his own tax bill? You can't have it both ways.

It is difficult to imagine how this bill will not benefit Our Exalted President, but OTOH, people with large complex investment packages may have different results than everyone else. It would surprise no one if Trump was talking "out of his ass."

But he's still my President.

 

[dudmuck]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

It's amazing how many things they accused Obama of, and threw tantrums over, that they now readily accept and/or excuse in Trump.

No wait, it's not amazing at all. Look at who these people are.

You have made every excuse possible about Obama. You are still in denial even about the fact that he increased the debt massively.

What an asshole. Absolutely no one should take your whinery seriously.

You need to reduce the deficit before you can start reducing debt. Thanks to the mortgage meltdown, Obama reduced it by two thirds.

 

[Norman]

I don't care if he does or not.

Do you care if he lies?

How about if he's delusional?

Do you think if they cared about the lies they'd vote for him?

I've realized a long time ago that Trumpsters simply do not care about the facts. They rather believe the fairy tales about Trump.

It's amazing how many things they accused Obama of, and threw tantrums over, that they now readily accept and/or excuse in Trump.

No wait, it's not amazing at all. Look at who these people are.

You have made every excuse possible about Obama. You are still in denial even about the fact that he increased the debt massively.

What an asshole. Absolutely no one should take your whinery seriously.

You need to reduce the deficit before you can start reducing debt. Thanks to the mortgage meltdown, Obama reduced it by two thirds.

Yes, he spent like a drunken sailor and increased the debt in massive proportions. Thank Obama...