Trump Wants No Tax For Americans Making Less Than $150,000 A Year

[Independent thinker]

Because that habit is why things are crashing.

What’s crashing? The rich people’s stock market?

 

[gipper]

What’s crashing? The rich people’s stock market?

Top 10% Own Stock Market​

The wealthiest 10% of Americans own a significant portion of the U.S. stock market. According to recent data, the top 10% own about 93% of stocks, with the top 1% owning a substantial share of that amount.234+8 This concentration of stock ownership has remained high despite a record high participation rate of 58% of households owning stocks. The bottom 50% of Americans own only about 1% of all stocks and mutual fund shares.

 

[gipper]

Who would pocket all the profits?
The shareholders?
The executives?

Many big corporations pay little to nothing in federal income taxes, just like the billionaires. I’m certain a Zionist Adam Smith loving dupe like you approves.
Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. Income in 2024

 

[TimFitz]

A flat tax is what we should have, but the corporate tax is stupid and nothing more than a thinly veiled sales tax. Anyone who thinks businesses actually pay this and not add it to the cost of their goods and services is an idiot.

Same applies to Tarriffs.

 

[martybegan]

No more income tax but a VAT.

A VAT probably needs a Constitutional Amendment, and that Amendment should contain a proviso of a maximum amount that Congress can impose, which should have been done in the 16th Amendment.

Said Amendment must also contain a Section repealing the 16th Amendment and prohibiting an income tax in the future.

100%. If you don't repeal the income tax amendment with adding a VAT, sooner or later it will just come back.

 

[martybegan]

We have no income tax in Nevada and there are plenty of other states that don’t have it either. Nobody is starving in the streets because of a higher sales tax in lieu of it.

Plus guess what the replacement at the federal level for property taxes are?

Tariffs and excise taxes.

 

[westwall]

We have no income tax in Nevada and there are plenty of other states that don’t have it either. Nobody is starving in the streets because of a higher sales tax in lieu of it.

Democrats have been trying to implement a income tax here in Nevada for decades however.

 

[Toddsterpatriot]

Many big corporations pay little to nothing in federal income taxes, just like the billionaires. I’m certain a Zionist Adam Smith loving dupe like you approves.
Tesla Reported Zero Federal Income Tax on $2 Billion of U.S. Income in 2024

Many big corporations pay little to nothing in federal income taxes

And where do their profits end up?

 

[Redfish]

Trump says a lot of things.

and then he does them, promises made, promises kept.

 

[Rogue AI]

Nothing like free everything for everyone.

Free citizens, not free stuff, you hacks may want a nanny state to wipe your ass but the Founders certainly didn't envision that.

 

[ThunderKiss1965]

Same applies to Tarriffs.

Yes but do you think the tariffs that just about every country in the world has against US made products is fair ?

 

[AntonToo]

Trump Wants No Tax For Americans Making Less Than $150,000 A Year​

I would rather see a flat tax on personal income and a flat tax on corporate income with no deductions, but this would certainly be better than the current code and I would support it, but don't hold your breath. It's unlikely to happen. If it's actually proposed, it will be interesting to see who stands against it and why.

Oh sure, let's keep destroying revenues - it's so fun and easy!

Let's not worry about oceans of red ink as far as the eye can see, this can't possibly go wrong.

 

[Dont Taz Me Bro]

Oh sure, let's keep destroying revenues - it's so fun and easy!

Let's not worry about oceans of red ink as far as the eye can see, this can't possibly go wrong.

That's a valid concern if they don't make up the revenue and/or cut spending.

 

[gipper]

Many big corporations pay little to nothing in federal income taxes

And where do their profits end up?

So you’re fine with the outrageous income inequality in this country. As I thought. You don’t understand where this leads.

Americans pay taxes on their income. Shouldn’t corporations pay too?

 

[Hector12]

I would rather see a flat tax on personal income and a flat tax on corporate income with no deductions, but this would certainly be better than the current code and I would support it, but don't hold your breath. It's unlikely to happen. If it's actually proposed, it will be interesting to see who stands against it and why.

Those who advocate a flat tax with no deductions acknowledge that deductions are economically unnecessary. I advocate a progressive tax with no deductions, and all sources of income are included equally.

 

[Hector12]

That's a valid concern if they don't make up the revenue and/or cut spending.

There is little support for specific spending cuts, and much support for higher taxes on the rich.

 

[AntonToo]

That's a valid concern if they don't make up the revenue and/or cut spending.

Not only valid but it should be first order of business, before any of these yey!-let-have-another-tax-cut! conversations.

Because what happens now is taxes keep getting cut, while spending and deficits keep climbing.

 

[Toddsterpatriot]

So you’re fine with the outrageous income inequality in this country. As I thought. You don’t understand where this leads.

Americans pay taxes on their income. Shouldn’t corporations pay too?

So you’re fine with the outrageous income inequality in this country.

I'm sorry that sweeping floors at McDonalds doesn't pay you as much as you'd like.

Americans pay taxes on their income. Shouldn’t corporations pay too?

Corporations do pay taxes. 21% on their taxable income.

 

[BlackSand]

Not only valid but it should be first order of business, before any of these yey!-let-have-another-tax-cut! conversations.

Because what happens now is that taxes keep getting cut while deficits keep climbing.

.

If the Continuing Resolution passes ... You might want to get your suggested cuts into your Representatives in Congress ...
By at least the end of July ... So they can figure out a way to work them into the budget by September.

Keep in mind ... You're going to have to cut $3.3 trillion to get out of the red in the current budget ...
Or you are just talking shit ...

That's what we told Speaker Johnson here in his District ... Not too sure he got the message yet.
We might have to send someone else to Capitol Hill in four years ...
But I'm willing to bet you that it won't be a Democrat.

.​

 

[Captain Caveman]

I would rather see a flat tax on personal income and a flat tax on corporate income with no deductions, but this would certainly be better than the current code and I would support it, but don't hold your breath. It's unlikely to happen. If it's actually proposed, it will be interesting to see who stands against it and why.

You are over taxed. The irony is, the colonies were perturbed at being taxed, so they wanted their own government to save them. Fast forward 250 years, the UK is laughing it's bollocks off. But, we can't fix stupid and it proves the underachievers where shipped out. Now you have their genes.