Category Archives: Taxation

Trump Tax Plan Neither Fair Nor Flat, But Based On Faction & Class Warfare

Business, Debt, Donald Trump, Economy, libertarianism, Private Property, Taxation

Whatever happened to the promise of “reducing tax rates on individuals,” Mr. President? Whatever happened to “lowering tax rates, simplifying the tax system” and overhauling the nation’s tax code? You know, to benefit ALL Americans?

President Donald Trump said Wednesday the emerging Republican tax proposal won’t cut taxes for the wealthy, and they may go up, an assurance that appeared to contradict the plan that his administration and GOP leaders are drafting.

… “The wealthy will be pretty much where they are,” Mr. Trump, a Republican, said. “If we can do that, we’d like it. If they have to go higher, they’ll go higher, frankly.”

Who are the wealthy? Two income families bringing in 100K?

Naturally, “Trump wants to lower the 35% corporate tax rate to 15%, though most analysts think that is nearly impossible.”

Gotta keep the Familia prosperous.

MORE at:

GOP to Release Tax Overhaul as Trump Says Rich Won’t Benefit; Republicans prepare for legislative sprint on a plan they expect would cut taxes for the wealthy.”

House, Senate Tax Proposals Likely to Diverge“:

The document will include a specific corporate tax rate and details on the deductibility of corporate interest, Mr. Mnuchin said at a separate appearance at the same event. He said news reports suggesting the six negotiators are far apart are untrue.

Corporations above all.

SEE FACEBOOK THREAD.

UPDATE II (5/11): Weasel Words About The TRUMP Tax Plan

Business, Donald Trump, libertarianism, Private Property, Taxation

I thought I’d listen to some wise words from David Stockman about the Trump tax plan. Stockman is, after all, a hero of libertarians. Instead, I got an earful of weasel words.

I can’t listen to a “libertarian” prattle about “paying for tax cuts.” You’re no libertarian if you talk like this. Taxes are private property stolen. Tax cuts are private property returned to its rightful owners. Or, so we hope. “Paying for tax cuts”: These are weasel words.

UPDATED 5/3:
Larry Kudlow, Stephen Moore (he wrote a book praising the Bush ‘ownership society,’ more candidly known as the mortgage bubble), anyone?

Corporate America, on the other hand, will benefit big time:

Reduction of rates, but no restructuring of the tax code:

Corporate America über alles.

This seems related, don’t you think?

UPDATE II (5/11):

Mainstream Media, don’t tell America. Trump Admin strikes a trade deal with China to boost exports & benefit the US!

‘Trump’s First Duty: Keep Faith With Those Who Put Their Faith In Him

Donald Trump, Elections, IMMIGRATION, Republicans, Taxation, Trade

Patrick Buchanan—whom, as suggested here, belongs in the Trump administration—warns Donald Trump … his first duty is to keep faith with those who put their faith in him.

… The protests, riots and violence that have attended his triumph in city after city should only serve to steel his resolve.

As for promptings that he “reach out” and “reassure” those upset by his victory, and trim or temper his agenda to pacify them, Trump should reject the poisoned chalice. This is the same old con. …

… For the historic opportunity he and the Republican Party have been given by his stunning and unanticipated victory of Nov. 8 will not last long. His adversaries and enemies in politics and press are only temporarily dazed and reeling.

This great opening should be exploited now.

Few anticipated Tuesday morning what we would have today: a decapitated Democratic Party, with the Obamas and Clintons gone or going, Joe Biden with them, no national leader rising, and only the power of obstruction, of which the nation has had enough.

The GOP, however, on Jan. 20, will control both Houses of Congress and the White House, with the real possibility of remaking the Supreme Court in the image of the late Justice Antonin Scalia.

Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan have indicated they are willing to work with President Trump.

There is nothing to prevent the new GOP from writing history.

In his first months, Trump could put a seal on American politics as indelible as that left by Ronald Reagan.

A partial agenda: First, he should ignore any importunings by President Obama to permit passage of the Trans-Pacific Partnership in a lame-duck session — and let the trade deal sink by year’s end.

On Jan. 20, he should have vetted and ready to nominate to the high court a brilliant constitutionalist and strict constructionist.

He should act to end interference with the Dakota Access pipeline and call on Congress to re-enact legislation, vetoed by Obama, to finish the Keystone XL pipeline. Then he should repeal all Obama regulations that unnecessarily restrict the production of the oil, gas and clean coal necessary to make America energy independent again.

Folks in Pennsylvania, southeast Ohio, Kentucky and West Virginia should be shown, by executive action, that Trump is a man of his word. And when the mines open again, he should be there.

He should order new actions to seal the Southern border, start the wall and begin visible deportations of felons who are in the country illegally. …

… MORE “Memo to Trump: ‘Action This Day!'”

NEW COLUMN: TRUMP TAXES

Donald Trump, Individual Rights, Left-Liberalism, libertarianism, Political Economy, Private Property, Taxation

“TRUMP TAXES” is the current column, now on Townhall.com, America’s “top source for conservative commentary.” An excerpt:

….At the risk of offending the crass utilitarians who make up the cattle that is the commentariat, I’ll talk natural rights.

It has become anathema to float the outrageous idea that a man owns the proceeds from his labor, completely, and that whatever government takes from him or her amounts to private property stolen.

It’s considered an equal outrage to so much as suggest that your prime real estate is your body. And that what you do to sustain your corporeal self—the money you make—is an extension of your body and 100 percent yours.

Certainly from the fact that the state skims 30 percent or 45 percent, or some random sum, from your pay—it does not follow that this law is preordained by a higher power.

Neither does it follow that, by virtue of being decided by 535-odd clowns in the Lower and Upper Houses, property confiscated by force—taxation—is sanctioned by the same higher power.

You may also wish to consider that the US government no longer pays for its obligations, but continues to borrow against the future earnings of its people. What is not borrowed by government or counterfeited by the Federal Reserve is confiscated from individual Americans via taxation.

So preventing a thief and counterfeiter from seizing funds that’ll be further misused and misspent is a laudable thing. Moreover, what the state takes from you is fungible—in other words, the government can put your money to use as it sees fit, not as you see fit. It can meddle all over the world, sponsor the importation of refugees who may kill Americans and consume resources you’d rather see spent on America’s own displaced and destitute.

While I’m making mischief, in the context of self-ownership, consider the following:

Liberals insist a woman owns her body. That’s what undergirds their insistence that she may eliminate fetal tissue from within her body.

But if ownership of their bodies is the ethical basis upon which women can choose to abort their babies; why can’t a man or a woman, for that matter—both of whom presumably own their bodies—keep private property accrued through the use of that same body’s labor and smarts? …

… Read the rest. “TRUMP TAXES” is the current column, now on Townhall.com, America’s “top source for conservative commentary.”