On taxes? Not so populist (Trump's tax plan)

[apnu]

Source: Politico

On Monday, Donald Trump released his tax plan—for the most part, a classic supply-side approach that would simplify the number of tax brackets and cut the corporate rate to 15 percent. Like other Republican tax plans, Trump vows to bring in additional revenue by putting a cap on the amount wealthy people can deduct on their tax returns.

But Trump makes one promise that sets his plan apart: It will be deficit-neutral. In other words, it would pay for itself, and all those tax cuts wouldn’t make the federal deficit worse.

I did some back-of-the-envelope math on Trump’s plan to see if that’s true. The short answer: There’s no way the plan is deficit neutral.

Even with the most optimistic assumptions, Trump’s plan will still significantly reduce the total amount of money the government takes in. That might appeal to a lot of conservatives, but it will also definitely increase the federal deficit.

Read more: http://www.politico.com/agenda/story/2015/09/on-taxes-not-so-populist-000258

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When right-leaning Politico throws your plan under the bus, the plan must really suck.

[Turbineguy]

1. Doesn't matter

It's huge and everybody will love it.

[ErikJ]

2. His top rate is 25%, even lower than Reagans outrageous 75% to 28% drop.

Its all dependent on "voodoo" economics that the economy will boom, which if it does, usually ends badly.

[Wilms]

3. Then we can push more of the burden

onto states, counties, and cities...because that's been working out well.

[louis-t]

4. They're touting it as "tax cuts for everyone!1!!"

Yay, free stuff!

Reminds me of that movie, Trading Places: "Lobster and cracked crab for everyone!" "Extra, primo good Mr. Coleman, sir!" Looking good, Lewis. Feeling good, Billie Ray.