5 MYTHS OF TRUMP GOP TAX PLAN
11 DEC 2017

Posted by robbie Categories: TAXES Comments: Post closed for comments

  1. THE $1.7 TRILLION TAX BILL WILL PAY FOR ITSELF. “HOW”?? IT WON’T.  REPEALING ITEMS LIKE ACA WHICH WOULD LEAVE OVER 13 MILLION UNINSURED WOULD GIVE REPUBLICANS $330 BILLION TO PAY FOR SUCH THINGS AS A “PROVISION AIMED AT PROVIDING FEDERAL FUNDING TO A LARGE ENDOWMENT FUNDED BY WEALTHY CONSERVATIVES, INCLUDING THE FAMILY OF EDUCATION SECRETARY BETSY DEVOS.  BASICALLY PROVIDING FUNDING TO HILLSIDE COLLEGE, A SMALL LIBERAL ARTS COLLEGE IN MICHIGAN FOR THE WEALTHY.  HOWEVER, BILL STRIPS AWAY BASIC TUITION DEDUCTION AND CREDITS FOR “ALL”.  SENATOR BERNIE SANDERS DECLARED THAT “THE FEDERAL TREASURY IS BEING LOOTED” BY THE WEALTHY.
  2. IT WILL SUPERCHARGE GROWTH. REALLY?  THEY SAY THAT THE GREEDY CORPORATE EXECUTIVES WILL USE THE TAX CUTS TO PAY HIGHER WAGES TO ALL EMPLOYEES.  WELL, MAYBE WHEN HELL FREEZES OVER.  IT IS MY OPINION AND THE OPINION OF MANY SENATORS AND OTHER POLITICIAN’S, THAT THE DECREASE IN THE CORPORATE TAX RATES WILL FATTEN THE POCKETS OF THE EXECUTIVES AND PAY OUT CASH DIVIDENDS TO SHAREHOLDERS OF WHOM WE KNOW DO NOT LARGELY MAKE UP THE MIDDLE AND LOWER CLASS.
  3. THE WEALTHY WILL NOT BENEFIT. REALLY?  THE ENTIRE PLAN IS BUILT FOR THE WEALTHY – ABSOLUTELY NOTHING IN THIS PLAN BENEFITS THE MIDDLE AND LOWER CLASS.  THE 15% CORPORATE TAX RATE IS THE ONLY PERMANENT CHANGE.  ALL THE OTHERS ARE TEMPORARY AND WILL SUNSET BY YEAR 2025, MEANING ALL CHANGES WILL GO BACK.  WHY MAKE THE CORPORATE TAX RATE PERMANENT AND ALL OTHERS TEMPORARY –HMMM?
  4. THE PLAN IS DESIGNED FOR THE MIDDLE CLASS. IT’S DESIGNED FOR THE MIDDLE CLASS TO BE DROPPED TO THE LOWER CLASS.  ALL DEDUCTIONS AND CREDITS THAT THE MIDDLE CLASS HAVE BENEFITED FROM TO DATE IS BEING TAKEN AWAY TO FUND THE WEATHY.
  5. IT WILL HELP SMALL BUSINESS. REALLY?  THE PROVISION FOR THE SMALL BUSINESS IS SO MINIMAL THAT IT WILL BARELY MOVE THE PENDULUM.
IT IS UNFORTUNATE, BUT MANY AMERICANS WILL SEE HIGHER TAX BILLS OR NO REFUNDS.  AND YOU WILL NOT BEGIN TO SEE THE IMPACT UNTIL 2019 OR 2020 AS THESE CHANGES DO NOT TAKE AFFECT UNTIL TAX YEAR 2018.  RTW WILL CONTINUE TO REPORT AS CHANGES HAPPEN. “FIRST CLASS SOLUTION SUITE” CONTACT RTW TODAY FOR ALL YOUR TAX AND BUSINESS NEEDS DOMESTIC AND INTERNATIONALLY.  2017 TAXES SHOULD BE FILED EARLY DUE TO THE EQUIFAX DATA BREACH.   DON’T WAIT, CALL OR EMAIL NOW; 216-533-6586 or info@rtwxxact.com