First orders of business

[poke2001]

Trump and the R congress need to do big things early, and they can. Here is the order it should be done, and most legislation is already in place.

Repeal Obamacare (replace with the House legislation or something similar).

Complete tax reform for both corporations and individuals.
Gut the tax code...
0 tax on first X income
10% up to Y
20% up to Z
25% over that
I'm not on economist, so I don't know where the breaks are or should be. Get rid of all deductions, except maybe some of the child tax and EIC to keep the left (and middle) happy.

Corporate, flat 15% with little to no deductions, 1 year window to repatriot foreign taxed money at 10%. Use 100% of this money for an infrastructure bill. May just make the 10% permanent.

Dial back EPA regulations Obama put in place.

Repeal or scale back Dodd-Frank.

You do the above and this country would see greater than 4% growth in his 2nd year.

 

[trapped_in_tx]

Trump and the R congress need to do big things early, and they can. Here is the order it should be done, and most legislation is already in place.

Repeal Obamacare (replace with the House legislation or something similar).

Complete tax reform for both corporations and individuals.
Gut the tax code...
0 tax on first X income
10% up to Y
20% up to Z
25% over that
I'm not on economist, so I don't know where the breaks are or should be. Get rid of all deductions, except maybe some of the child tax and EIC to keep the left (and middle) happy.

Corporate, flat 15% with little to no deductions, 1 year window to repatriot foreign taxed money at 10%. Use 100% of this money for an infrastructure bill. May just make the 10% permanent.

Dial back EPA regulations Obama put in place.

Repeal or scale back Dodd-Frank.

You do the above and this country would see greater than 4% growth in his 2nd year.

I can get on board with the tax ideas with one exception: there should be one and only one deduction, and that is for charitable giving.

Why? As the counter argument to social welfare programs. The individual should not be shirking their individual responsibility to help those less fortunate by delegating it to the federal government bureaucracy.

I'm sure there are plenty of arguments for not taking that approach and I can think of some of them as I type. I'm not married to the idea so I'm curious what others think.

For the record, I come from the perspective that federal income tax is unconstitutional, i.e. the 16th amendment should never have passed and should be repealed. I'm aware that such a repeal has approximately zero chance of ever happening, and I understand the practical implications - this is definitely a stance on principle.

Edited because my advancing age is affecting my spelling skills

 

[poke2001]

I can get on board with the tax ideas with one exception: there should be one and only one deduction, and that is for charitable giving.

Why? As the counter argument to social welfare programs. The individual should not be shirking their individual responsibility to help those less fortunate by delegating it to the federal government bureaucracy.

I'm sure there are plenty of arguments for not taking that approach and I can think of some of them as I type. I'm not married to the idea so I'm curious what others think.

For the record, I come from the perspective that federal income tax is unconstitutional, i.e. the 16th amendment should never have passed and should be repealed. I'm aware that such a repeal has approximately zero chance of ever happening, and I understand the practical implications - this is definitely a stance on principal.

I'm with you there. I just think if you start giving some deductions, you start giving others and then you wind up with a 10k page tax code.

The best would be a national sales tax with 0% on food and clothing. And then maybe some sort of rebate for people with incomes under a certain amount. That will never happen though.

 

[ctdub]

This is fantastic. http://www.eenews.net/stories/1060045642