US Federal Income Tax Reform

[The Cub]

Who really expects much in this area to pass through Congress?

I can not understand how a billionaire, well-versed in the US Tax Code, can continue to say that "our plan" is to allow people to submit tax returns of only one page in length. If you simply listed the major categories contemplated under the law, it would take many pages.

The members of the secret societies in all parties do not want Trump to succeed at anything.....why would they go along with any major tax reform? Keep in mind that they are not considering tweeking the Tax Code....but rewriting it.

[Rusty34]

Along with other tax reform proposals touted from time to time (flat tax, etc.)? Not going to happen. The IRS likes things exactly as they are.

[awesome1]

My understanding is Trumps plan is pretty simple, it would be 3 tax brackets and a flat tax at each bracket. So you would take your income of say 50k and pay 5 k in taxes or 10%. I don't actually know what the tax brackets would be but that's an example of how it would work. So yea, 1 page to list your income and what your tax should be versus what you paid in and the result is a refund or you write a check.
With years of tax return info to draw on it shouldn't be hard to figure out how much the average person earning 30-75 k a year pays in in taxes. Since that is about 95% of the people who pay taxes that's most of the problem solved right there.

[es7129]

Along with other tax reform proposals touted from time to time (flat tax, etc.)? Not going to happen. The IRS likes things exactly as they are.

The current tax laws are written to benefit the top 1% who own our Congressman not the IRS.

[Hoppalong]

That sounds more like the Fair Tax plan, just a small postcard sent in. YEAH. That would be so cool if it were to pass. Even more so be The Fair Tax itself~!

[dissimulo]

No matter what the reform, the tax code will be more complex. It can only become more complex, just like government can only become larger.

[Rusty34]

The current tax laws are written to benefit the top 1% who own our Congressman not the IRS.

The IRS is the enforcement arm of the Federal Reserve Bank and the collection agency for the top 1%

[KingsX]

.

The old bait and switch has been in play on tax reforms too.

Originally Trump said the single standard deduction would be $25,000 and the couple deduction would be $50,000.
In other words, if your income is less than those amounts, you owe no taxes and wouldn't have to file a tax return.

But as usual Trump crawfished from that a long time ago. Then Trump's plan began to morph more and more like
the GOP's former tax plan called "Blueprint - A Better Way" which basically gives tax cuts to the rich and tells the
poor and middle class to eat cake.

Just now on FOX Business News, they inferred if the GOP congress can't pass a decent tax cut, they might as well
pack their bags to go home after the 2018 election.

[KingsX]

.

The devil is in the details... so far there have been no new details.

The GOP has promised to release details of their new tax plan next week.
We shall see how much they borrowed from their former tax plan.

Under the GOP's former tax reform plan called "Blueprint - A Better Way"...
not only does that tax plan favor the rich, it gets rid of the extra over 65
and/or blind standard deduction and increases the lowest tax rate from 10%
to 12%. In other words, it throws old, blind and poor people under the bus.

[Pastor Guest]

It ain't about taxes. Income tax is a weapon which is used by TPTB to reward friends and punish enemies. This is why it will never be repealed and why it will never be made simpler. Our overlords would have to give up too much power and control.