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

[imawhosure]

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.

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.

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.

Flat tax without deductions except for family size is perfect.

Why?

Because the reason we are in this mess is------------>we have thousands of pages of tax code, and the way it got there is by LOBBYISTS planting their a**es in DC, and lobbying our SUPPOSED Reps and Senators, for special treatment in the tax code. I am not going to say/tell you how crooked it is, but to believe that our congress didn't get ANYTHING for giving taxbreaks......regardless if they GOP or Democrat, if we are SMART.......we would STOP them from being able to do it!

Americans need to understand this----------->the lobbyists said they (their company/industry) needed a tax break to compete, blah, blah, blah, and so they got it. NONE of that is now logical or relevant as the tariffs remove any need for a tax break, plain and simple. In essence, under the current tax code, the corporation would be DOUBLE DIPPING, tax code gifts, and tariff gifts. And the point is---------->even the tax code gifts could NOT keep all industries here anyway. Tariffs could keep most of them here though with a very low corporate tax rate.........which of course, the Democrats will claim favor the rich, and NOT the workers who fill the jobs as industries migrate back here, to enjoy the low tax rate, and avoid reciprocal tariffs to boot!

 

[pknopp]

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

No roads, no fire dept, etc......yeah, you know i kinda like that stuff and I'm willing to pay for it.

 

[The Sage of Main Street]

They would be the same idiots who thinking doubling the minimum wage won’t be paid for by higher prices.

Lower Their Profits. The Plutes Can Kiss My Glutes.

 

[jc456]

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.

and why would that be?

 

[jc456]

No roads, no fire dept, etc......yeah, you know i kinda like that stuff and I'm willing to pay for it.

I thought that's what you idiots wanted? Now you don't? make up your mind you fking idiot.

 

[The Sage of Main Street]

I've got no problem with corporations having deductions for improvements to their businesses. It has the effect of having them put a portion of the profits back to improve the business instead of just pocketing all of the profit.

America Must Treat Superior Minds the Way It Treats Superior Athletes, from Childhood On

Replace our flunked college education with highly paid professional training, paid for by businesses as a substitute for corporate taxes. Even without that tax replacement, a corporation that did this on its own would soon dominate its sector. It would be equivalent to an NFL team getting the whole first round of draft picks.

Baseball gives the most talented 18-year-olds hundreds of thousands of dollars to put themselves through the minor leagues, which are its equivalent of college education.

 

[Frankenstein]

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.

Oh, I know, let's have a department look into spending, and cut the pork, oh wait, it's like someone already is. Cut spending, especially on welfare programs

 

[jc456]

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.

I thought all you fkers wanted was taxing the rich? What's the issue now if this is done? are you saying you lied?

 

[The Sage of Main Street]

Market down 500 points today.

Mr. Scrooge, Tear Down This Wall Street

The plutocratic parasites love their cheap overseas labor. Unless Trump flinches, they'll back down out of fear that he'll break them. The Free Trade traitors have gone soft from being on top so long.

 

[jc456]

Market down 500 points today.

what's the market today?

 

[The Sage of Main Street]

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

Eventually, the Heirs Suck It All Away into a Pool That Grows for Generations

 

[jc456]

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

what if the shareholders are employees, then also employees, right?

 

[Admiral Rockwell Tory]

Market down 500 points today.

Unless you are going to retire in the next few months, who really cares?

 

[Admiral Rockwell Tory]

Don't be surprised if you see more national debt at the end of 2025. Trump's masterpiece! Lol.

As of now, President Donald Trump's goal is to eliminate taxes for Americans earning less than $150,000 per year, according to statements made by U.S. Commerce Secretary Howard Lutnick1247. This proposal is part of a broader tax strategy that includes eliminating taxes on tips, overtime pay, and Social Security benefits, as well as reducing corporate taxes14. However, the plan's feasibility and potential impact on the national debt and economy are subjects of ongoing debate and concern among experts24.

sources:
1. No taxes if you earn less than $150k. Donald Trump's plan explained
2. Donald Trump tax plan could give Americans an extra $24,000 per year
3. https://democrats-budget.house.gov/...-document/hbc-fact-sheet-project-2025-tax.pdf
4. https://www.investing.com/news/econ...low-150000-annually-lutnick-tells-cbs-3925663
5. An Inside Look at President Trump’s Proposed Tax Plans
6. The FY2025 House Budget reconciliation and Trump Administration Tax Proposals: Budgetary, Economic, and Distributional Effects — Penn Wharton Budget Model
7. Trump Wants No Tax For Americans Making Less Than $150,000 A Year, Says Howard Lutnick: 'That's What I'm Working For'
8. https://finance.yahoo.com/news/trump-wants-no-tax-americans-180041272.html
9. https://www.cnbc.com/2025/03/12/salt-deduction-trumps-tax-cuts.html
10. No taxes if you earn under $150k in the US: Trump’s radical plan to rewrite America’s tax code revealed

President Trump's plan to balance the budget without increasing taxes involves several strategies, though experts question their feasibility:

Extend and Modify Tax Cuts: Trump aims to permanently extend the 2017 tax cuts, which are set to expire after 2025. This includes reducing taxes for corporations and small businesses16. However, extending these cuts would reduce government revenue, potentially increasing the deficit5.

Eliminate Taxes on Certain Income: He proposes eliminating taxes on tips, overtime pay, and Social Security benefits16. While this reduces tax burdens, it also decreases government revenue.

Increase Tariffs: Trump plans to impose new tariffs on imports to help offset the costs of his tax cuts1. Tariffs can generate revenue but may also lead to trade disputes and economic impacts.

Reduce Government Spending: Trump suggests cutting fraudulent spending, repealing energy and environment-related spending, and dissolving the Department of Education12. However, these cuts might not be sufficient to offset the revenue lost from tax reductions23.

Offer Visas for Revenue: Trump has mentioned offering visas to wealthy foreigners for a fee of $5 million as a revenue-generating strategy4.

Despite these plans, budget analysts argue that Trump's proposals could widen the deficit rather than balance the budget, as the spending cuts and revenue measures may not adequately offset the costs of his tax policies234.

sources:
1. The Fiscal Impact of the Harris and Trump Campaign Plans | Committee for a Responsible Federal Budget
2. Despite DOGE, Trump's agenda calls for adding trillions of dollars to U.S. debt
3. Trump promised a balanced budget. Don't believe it.
4. Will Trump Actually Balance the Budget?
5. https://www.cnbc.com/2025/03/12/salt-deduction-trumps-tax-cuts.html
6. Budget Reconciliation: Tracking the 2025 Trump Tax Cuts
7. https://www.chathamhouse.org/2025/0...p-balance-fiscal-challenges-campaign-promises
8. Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio

How much do you get paid to post this information?

 

[jc456]

Unless you are going to retire in the next few months, who really cares?

well, that cuts across only a few stocks, perhaps people actually are unaffected by it.

 

[Lisa558]

Unless you are going to retire in the next few months, who really cares?

Could be a buying opportunity, actually.

 

[marvin martian]

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.

tAx cuTS fOr hiS biLLioNaiRE friENds!!

 

[The Sage of Main Street]

Any income tax is enslavement to the government.

Americans Are Enslaved to Ghosts

No need for income taxes if we tax away all trust funds and all inheritances over a socially harmless $100, 000.

Even the living rich won't have to pay any taxes. A plutocrat should resent his brats mooching off him all their lives, and he might be persuaded to agree to this. All he has to lose is their bought and paid for love.

 

[The Sage of Main Street]

The rich people’s stock market?

The Vampires' Blood Bank

 

[Toddsterpatriot]

Eventually, the Heirs Suck It All Away into a Pool That Grows for Generations