“Over the next 10 years, our economic team estimates that under our plan the economy will average 3.5 percent growth and create a total of 25 million new jobs… This growth means that our jobs plan… will be completely paid-for in combination with proposed budget savings.”
If it came out of the mouth of any other politician, the speech delivered Monday by the Republican presidential candidate at the Detroit Economic Club would have been stunning in its mendacity. But issuing forth from the pie-hole of Donald J. Trump, it was, sadly, to be expected.
The new rate, which was announced without a target date, compares with Osborne’s previous target to cut corporation tax to 17 percent by 2020 from 20 percent now. It compares with an average of 25 percent among most developed economies.
“You know, when I was working on this speech, i had the same experience I had when I was working on the speech I gave about foreign policy and national security,” she said, before talking about Trump’s tax plan. “I’d have my researchers and my speechwriters send me information, and then I’d say, ‘Really? He really said that?’ And they’d send me all the background and the video clip… So here it goes.”
When reporters asked Donald Trump months after his veterans fundraiser where the money went — including whether Donald had, indeed, donated $1 million — he told them he didn’t have to account for the funds.
“Dear Commissioner — As you know, our client is dying to share his tax returns with American voters before the upcoming presidential election. However, he has prudently chosen to wait until your agency has completed its unfair audit of his Form 1040 filings…”
This is what Donald Trump’s refusal to release his tax returns says about America. We are a nation that can’t think straight about wealth and class. And Trump knows better than to puncture our delusions.
Trump is building out his policy proposals as he pivots from campaigning for his party’s nomination to the general election, including tapping experts in various fields. Among those he has asked for help is U.S. Republican Representative Kevin Cramer of North Dakota, one of the country’s most ardent oil and gas drilling advocates and climate change skeptics.
If his Muslim ban and a Mexican wall didn’t turn away Republicans still planning on voting for Donald Trump, maybe his ideas about the national debt will. The racist billionaire said recently that he would try to game the international economy — much like he did with creditors for his bankrupt casino projects — by paying less on U.S. treasury bonds than what bondholders are owed, a move that would surely destabilize the global economy.
Pressed on the contradiction between his latest comments on taxes and the September tax plan, Trump said he viewed his original proposal as “a concept” and that he expected it would be changed following negotiations with Congress. “By the time it gets negotiated, it’s going to be a different plan,” Trump told ABC.
The returns will be released, Jane suggested, when Hillary Clinton provides transcript of her lucrative speeches to Wall Street firms. Clinton should absolutely release the transcripts and she should have done so long ago, but the issues are not even close to parallel.
Sanders had made available only his and wife Jane’s 2014 Form 1040, a summary lacking crucial details about their sources of income, deductions, and tax strategy.
It is also puzzling that the media generally and the top newspaper editorial pages in particular remain so tolerant of stonewalling on taxes by all the candidates. That wasn’t their attitude toward disclosure four years ago, when Mitt Romney tried that strategy.
I expect Trump’s tax returns to be extremely aggressive, but well within the boundaries set by Congress and without even a hint of criminal tax evasion. I also suspect Trump’s returns will show negative income. That’s right — negative.
Even though the plan has zero likelihood of passing in a Republican-controlled Congress during an election year, the motivations behind Obama’s proposal deserves a closer look.
Hillary Clinton’s call this week to increase taxes on the wealthy and close “loopholes” didn’t address the candidate’s own moves to shield at least part of the value of her New York home from the estate tax.
“Fair Share Surcharge” would be imposed on taxpayers who make more than $5 million a year, and is expected to raise $150 billion over a decade.
The end of the year is a good time to consider harvesting some capital losses. By doing so, you may ultimately be able to trim your losses and your taxes — as long as you complete any sales by the end of the year.
Current gift tax laws allow for some pretty hefty exclusions for the giver. But, of course, as with anything to do with taxes, there are some very particular dollar figures that you should be aware of.
With time rushing by and the end of 2015 in sight, you may be lamenting that you haven’t accomplished all that you had planned. But even if you’ll have to put off certain things until 2016, you still have time this year to make some smart financial moves.
In a conservative Republican state, how does a governor raise taxes, issue bonds and ask local taxpayers to pay even more for transportation?
With the U.S. tax code now permitting companies to use brazen tax avoidance schemes in true tax havens, the real question is now whether corporations should have to pay any taxes on their profits at all.