Posted on Nov 7, 2017
Want to Know What Happens with Large-Scale Tax Cuts? Just Take a Look at Kansas
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Edited 7 y ago
Posted 7 y ago
Responses: 5
Corporations pay no tax. Federal services need to be reduced. We are over $20 Trillion in debt. The money tree died a long time ago. Their customers pay taxes. Why must the entire country pay for a state function? If Kansas or any other state wants to fund a social program, then that state must pay for it. As a Florida resident, I don't expect Montana to pay for our flood insurance. Each state must manage their own budget.
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I watched Speaker Ryan announce the Tax Cuts. He kept repeating the mantra that the avg. middle class family would see almost $1,200/yr in Federal Tax reduction. I must admit, I was underwhelmed.
Less than $100/mo additional in the budget of the avg. family isn't that much. Granted, it's $100/mo more than under the current system, maybe, but it's still not a lot. I've heard several analyses say that several/many deductions (like some State Taxes, for example) are eliminated with this new plan,.
Suddenly, the $100/mo doesn't look so big.
However, the phase out/elimination of the Estate Tax (aka "death tax") apparently WILL provide some real, tangible Tax Relief. I believe the President was talking to a group of truck drivers when he made that announcement. The reaction was loud and enthusiastic. I don't think they realized that eliminating this "bad, very bad, tax" (as the Pres. called it) probably meant nothing to them.
The Estate Tax applies to only about 0.2% of the Country. Since it's highly unlikely that a local or long haul road warrior is in the top 0.2% of wealth holders in the Nation, the elimination of this "bad, very bad" Tax will help him or her at all. But the top 0.2% of the Country are gonna' love it.
Less than $100/mo additional in the budget of the avg. family isn't that much. Granted, it's $100/mo more than under the current system, maybe, but it's still not a lot. I've heard several analyses say that several/many deductions (like some State Taxes, for example) are eliminated with this new plan,.
Suddenly, the $100/mo doesn't look so big.
However, the phase out/elimination of the Estate Tax (aka "death tax") apparently WILL provide some real, tangible Tax Relief. I believe the President was talking to a group of truck drivers when he made that announcement. The reaction was loud and enthusiastic. I don't think they realized that eliminating this "bad, very bad, tax" (as the Pres. called it) probably meant nothing to them.
The Estate Tax applies to only about 0.2% of the Country. Since it's highly unlikely that a local or long haul road warrior is in the top 0.2% of wealth holders in the Nation, the elimination of this "bad, very bad" Tax will help him or her at all. But the top 0.2% of the Country are gonna' love it.
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