Donald Trump just started talking like an old school Republican. He’s added a third plank to his Presidential platform – along with immigration reform and the Second Amendment – tax cuts. The Wall Street Journal says Trump’s plan would cut taxes for millions of Americans. I put the emphasis in the last sentence on “would” because The Donald’s plan, as great as it may sound, won’t happen even if he’s elected.
There are too many who will not stand for substantive changes to our draconian tax code, members of the huge tax benefit lobby at the bottom of which is the Federal Reserve, gaping and grasping like that sandpit monster from Return of the Jedi. One must also consider the malicious might of those 535 clowns under the big top … er ….dome in D.C.
This plan, which looks far better than the insane mess we have now, is fated to fail like the Fairtax and various flat tax proposals before it.
Trump has four “simple” tax goals:
Tax relief for middle class Americans: In order to achieve the American dream, let people keep more money in their pockets and increase after-tax wages.
Simplify the tax code to reduce the headaches Americans face in preparing their taxes and let everyone keep more of their money.
Grow the American economy by discouraging corporate inversions, adding a huge number of new jobs, and making America globally competitive again.
Doesn’t add to our debt and deficit, which are already too large.
All tax brackets would drop with the maximum being capped at 25%. Those earning less than $25,000 per year would pay no tax. Trump would eliminate the marriage penalty, the Alternative Minimum Tax and the Federal Death Tax. These are great points. However, consider that the original maximum tax bracket was supposed to be 10% and that was supposedly reserved for the super rich. Government is like a hungry wolf; just because it doesn’t eat you today doesn’t mean it won’t try tomorrow.
Always at the door. Google Images.
I assume the other candidates have or will soon publish similar plans. Republicans will promise cuts, Libertarians deeper cuts, and Democrats increases here and there to make things fair. What we will have in the end is the status quo. It’s no coincidence the Sixteenth Amendment and the modern tax system came along on 1913 along with the Federal Reserve. One is dependent on the other, both are weapons of the government against the free people.
The scheme we currently suffer is bad. Trump’s plan is better. It would also be better to return to the tax system originally built into the Republic – tariffs, etc. or into the Confederation – Congress begging the States for dough as needed. Best of all would be a 0% tax for everyone with no government to support. For satirical consideration only is the solution I noted several years ago from a Doctor Who episode – tossing the tax collector off a high roof. That would tend to work under any tax system.