Trump Tax Plan Explained

I'd give him two hours before someone was called a name.
But as long as he has a sea ray.....

Pretty sure he sold his boat awhile back. I believe some Russian fellow “bought” it.

:):rolleyes::p
 
I thought he bought it from Saudi billionaire Adnan Khashoggi. He renamed it Trump Princess. The boat, now owned by Prince Al-Waleed bin Talal, has subsequently been renamed the Kingdom 5KR. These days Kingdom 5KR can usually be found in Antibes, France or cruising the French Riviera during the summer months.
 
I thought he bought it from Saudi billionaire Adnan Khashoggi. He renamed it Trump Princess. The boat, now owned by Prince Al-Waleed bin Talal, has subsequently been renamed the Kingdom 5KR. These days Kingdom 5KR can usually be found in Antibes, France or cruising the French Riviera during the summer months.
You're correct, Saudi Prince al-Waleed bin Talal bought it from Trump.
 
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100… If they paid their bill the way we pay our taxes, it would go something like this:

– The first four men (the poorest) would pay nothing.

– The fifth would pay $1.

– The sixth would pay $3.

– The seventh would pay $7.

– The eighth would pay $12.

– The ninth would pay $18.

– The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20″.

” Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes, so the first four men were unaffected. They would still drink for free. But what about the other six men? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving).

The sixth now paid $2 instead of $3… (33% saving).

The seventh now paid $5 instead of $7… (28% saving).

The eighth now paid $9 instead of $12… (25% saving).

The ninth now paid $14 instead of $18… (22% saving).

The tenth now paid $49 instead of $59… (16% saving).

Each of the six was better off than before. And the first four continued to drink for free.

But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man, “but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he received ten times more benefit than me!”

“That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “We didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth man and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction.

Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible

Let's see, where did the bartender get the 20.00 to discount to his patrons? The cost of the beer did not go down and since his profits were reduced, he had to borrow it. He kept borrowing to maintain the discount to his patrons, who did not need the discount in the first place, until he went bankrupt and closed. Now what. Turns out not such a good idea.

Those who think they understand, don't.
 
Mr. Boston, with the tax cut that President Trump (Don't you just HATE to hear that!) just instituted his cost of the beer went down due to the reduced taxes to be paid by the brewery so they had reduced the cost of their beer, and the cost of doing business for the bar went down because of the same tax cut.

Of course our liberal media hates to mention the tax cut and NEVER, EVER mention that there is a trickle down effect of that tax cut. It doesn't just affect businesses at one level, it affects businesses at all levels.

We're already seeing the effects of the new tax cuts. Businesses have expanded their workforces and are already planning to invest in America because now they can afford to do it.

Isn't that odd---the very things that President Trump said would happen are actually happening. That's quite a change from the former administration ("If you want to keep your doctor you can keep your doctor") who not only didn't know how to tell the truth, they usually couldn't recognize it when someone else told the truth. Funny how that worked.
 
Mr. Boston, with the tax cut that President Trump (Don't you just HATE to hear that!) just instituted his cost of the beer went down due to the reduced taxes to be paid by the brewery so they had reduced the cost of their beer, and the cost of doing business for the bar went down because of the same tax cut.

Of course our liberal media hates to mention the tax cut and NEVER, EVER mention that there is a trickle down effect of that tax cut. It doesn't just affect businesses at one level, it affects businesses at all levels.

We're already seeing the effects of the new tax cuts. Businesses have expanded their workforces and are already planning to invest in America because now they can afford to do it.

Isn't that odd---the very things that President Trump said would happen are actually happening. That's quite a change from the former administration ("If you want to keep your doctor you can keep your doctor") who not only didn't know how to tell the truth, they usually couldn't recognize it when someone else told the truth. Funny how that worked.

Well, for what it's worth. They STILL can't recognize when someone else tells the truth. If Trump said the sky was blue, they'd gasp in horror and call him a bigot.
 
Let's see, where did the bartender get the 20.00 to discount to his patrons? The cost of the beer did not go down and since his profits were reduced, he had to borrow it. He kept borrowing to maintain the discount to his patrons, who did not need the discount in the first place, until he went bankrupt and closed. Now what. Turns out not such a good idea.

That's a great story. Made up to fit an agenda/point of view, but still a great story.

Someone else story might start like this.

Let's see, where did the bartender get the 20.00 to discount to his patrons?

With the economy now on a solid up turn and unemployment the lowest in years, the bar owner, seeing new customers come in and his regulars more often......

Now considering the recent repatriation of off shore cash, bonuses, pay increases - which story sounds more realistic? Which story sounds like the author just doesn't like the current president?

Those who think they understand, don't.

Very true.
 
Anyway, like I said some 20 posts ago, I don't want to argue in this thread anymore. It's pointless

Thanks, have a nice day.

Yup. I got scared off the forum a few months back based on a very similar conversation, but still lurk once in a while.

As a registered Republican, I just quit posting after being called a snowflake and a liberal. I guess wanting small deficits and open markets is not "Republican" anymore. It's all about identity politics now.
 
Sail, I would be all over open markets IF the playing field was level. Other countries provide upfront money to large companies who export and bring money into their countries. Airbus is probably one of the best examples. Were it not for the money provided to Airbus they likely would not be competitive with Boeing. Tariffs help keep the playing field level.
 
Great Lakes, that is excellent news. Tax relief at all levels is a good thing and a good incentive for businesses to lower prices and/or expand their businesses.

Now take her out to dinner somewhere nice to celebrate. The River Rat maybe, or the Sandbar?
 
Bob, would you be so kind as to explain what you meant? Who is "they" and who is "their"?

Well the question was why liberals have a problem with people keeping their own money. I believe many of them have the attitude that it is their (the liberals') money to begin with, as only they are uniquely qualified to decide how it should best be spent.

No clearer evidence is required than when they characterize tax breaks as "give-aways". How does one give away something that is not theirs to begin with?
 
Great Lakes, that is excellent news. Tax relief at all levels is a good thing and a good incentive for businesses to lower prices and/or expand their businesses.

Now take her out to dinner somewhere nice to celebrate. The River Rat maybe, or the Sandbar?
I'd postpone celebrations until a year from now. With all the code changes and new withholding tables next spring(tax time) is when I'd rate what the changes did for me.
 

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