Donald Trump's tax plan will decrease the amount of tax plans from seven to only three. That's dumb as hell.

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Who cares how many brackets there are when you create 9 different entities for PE transactions and funnel the income through the Cayman Islands, then pass the losses through to the US partners?

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Yeah. Pretty much middle class gets a token tax cut and millionaires/billionaires get to keep millions/billions.

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More tax brackets means I get to keep my job

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Tax brackts are the easy part of taxes...

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So 11 tax brackets would be genius by your logic.

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*tax brackets

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Exactly... a "tax plan" with the selling point that we'll have less brackets is ludicrous.

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the above is true and why I think it's funny whenever I hear some one from the low to middle class arguing for a flat tax. If I make $100, $20 is more of a hardship to pay than paying $200k if I make a million. Rates would go down due to the larger tax base but the low end would feel it more.

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How is this dumb?

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"Fair Tax" is not fair.

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I think the biggest controversial thing of his plan is to void deferred tax, aka all foreign generated income get taxed immaterially @35%, talk about turning the world upside down. (The brackets # change doesn't seem like much a big deal now anymore does it?)

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Easy. Making taxes flat will decrease taxes for the wealthy by billions of dollars. This will undoubtedly reduce government spending / push down costs to those on bottom. In effect you're transferring the burden from those who CAN afford it to those that CAN'T.

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So easy to talk about raising taxes on others when it's not your salary they are coming after. Eventually, if successful, that will be you the government will label as as "rich" and take its "fair share". It's not paying their fair share, like we all have an option when it comes to taxes, it is the government taking the taxes at a point of a gun.

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The US system has been set up so that the seriously wealthy pay the least amount of tax relative to their wealth while the middle class fronts the burden. They pay a disproportionately low amount. This is unlike any developed nation around the world. When you look at the public service in the US compared to many other countries it's easy to see why the current system is completely unsustainable.

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#fairtax wtf needs tax ppl anyways

@OP, three tax plans could be good. Since there's only seven now that's a simpler life right? Assuming there's still a tax, we have a job.

How is a fair tax not fair? Everyone pays the same rate on income they EARNED.

Almost rebutted with there should be a reward for earning that money but then I remembered the reward is still being rich.

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