Election 2016 - Tax Plan Calculator

Roulette Man holds no ill will against Double D and admires his retired lifestyle. In matter of fact he likes Double D's Arizona Cardinals, but not his Eagles.

Forkie is doing what he does best and that would be stirring the pot.

Once again, when PJ doesn't have the ammunition to allow for a logical argument to the topic at hand, he changes the subject. You're consistency is admirable.

Trump supporters who critique Hillary's lies are like Bush supporters who critique Obama on vacation days.
(And usually they are the same people.)

2015 Politifact lie of the year: Everything Donald Trump said on his campaign tour

Come on PJ, keep on topic.

I've counted three times where the topic of this thread has changed since the original title of "Election 2016 - Tax Plan calculator"....and I've provided informed sources to make points at each turn.

This thread has now evolved into "who is lying" which is an excellent segway for Boilerman to talk about Airborne Ebola, IRS budget increases, or Bengazhi. I give you the floor !

Fixed!

Why I don't think the flat tax will ever fly. A flat tax will be a tax on all income with no deductions. I would assume that you would still retain basis on assets and would pay taxes on the gains.

1. It can actually end up being a tax cut for the very wealthy and a tax increase for the poor. There would probably be a floor on the plan, but many people who pay no taxes or who are subsidized through earned income credits and child credits will still probably lose.
2. It will eliminate the mortgage interest deduction. Don't expect bank lobbyists to sit still and do nothing.
3. It will eliminate charitable deductions and hence reduce charitable contributions severely to charities. Once again, don't expect lobbyists for charities to sit still and be quiet.
4. Under Cruz, there would be a 16% Value Added Tax (VAT). I don't know if this would be charged on groceries, but it would be added to almost everything else. This means in addition to a sales tax (over 9% in California) you would add the 16% VAT tax. A 25% tax on major items like cars and appliances, is going to be a killer. Don't expect lobbyists for manufacturing to remain quiet.
5. It is assumed that revenues and expenses can be netted and the flat tax paid on the profit for businesses and rental properties, but it is unknown. It is also unknown what would be done with depreciation.
6. People with catastrophic medical expenses would not be able to deduct any medical expenses and would still have to pay income taxes.


By the time the tax is implemented, it would not even be close to what was originally proposed.

a lie about WMD's in Iraq led to a multi-trillion dollar war leaving hundreds of thousands of casualties in its wake. - THAT WOULD BE BILL CLINTON
- a lie about tax cuts creating surpluses resulted in the most fiscally irresponsible, debt-exploding policy in US history. THE DEMOCRATS ARE THE OWNERS OF THE TRILLION $ DEFICITS.

How about these lies
- if you like your doctor you can keep your doctor
- insurance premiums will go down $2,500 per year
- ISIS is a jv
- I did not keep classified information or any of the versions she has had to put out.
- I only had one device - she was photographed with 2
- some of the emails were to my husband ( even though he didn't use email)
- Benghazi was caused by a video (even though I told my daughter among others it was terrorism)

PJ, you were responding to a specific topic, yet as you commonly do when you "got nothing", you changed the topic. Now you're doing it again.

You should really consider another strategy, as we all realize that when you've been proven wrong and you've got nothing, you change the subject.

Here's "something" for you: