Interesting that he didn't propose to eliminate the mortgage interest deduction. That deduction is popular, but it only affects something like a third of home owners. If the standard deduction is doubled, that number will decrease by a lot from the small number it currently is. The only people who will qualify are people with million dollar mortgages. Go figure.
It's like the estate tax: it impacts only super-rich people but ZOMG you guise I'ma strike it rich any day now and when I do the gummint ain't gonna take my success away from my young'uns! Here's the awesome one: It's almost as if they were looking for a way to punish Democrats."There is no doubt that if you are a New York or California resident, your largest deduction, by a factor that could be as high as 10, is the state and local income tax," said tax expert Robert Willens, of New York-based Robert Willens LLC. "Historically a high-state tax was mitigated by the fact that you were able to deduct it, so it was really costing you 60 percent or 65 percent of what you were paying to the state."
The Baby Boomer generation will not stop until the entire planet is a charred ruin. They are nothing more than locusts that have added NOTHING to the world. Who gives a shit about the budget and the future when you are all going to be dead in 10 years, right?
Fun fact: Donald Trump, George W. Bush, and Bill Clinton were all born in the summer of 1946. Donnie: June 14, 1946 Dubya: July 6, 1946 Bill: August 19, 1946
Tax reform could be really simple. Flat tax, tax credits up to the federal poverty line so as to not regressively tax the poor. No exemptions, no deductions. No tax refunds, because you know exactly what you're paying right out of your check and you wouldn't start paying until you were above the poverty line. You're just done right off the bat. Tax investment income the same way. All income is the same no matter what the source.
Just a bit, man. Of course, there are the crazy internet libertarians who think taxation is actually theft, and that the majority can at no point force you ethically to participate in society. I'm not one of those. For me, it's a philosophy which seeks to answer, 'How can government, which is by nature a loss of autonomy, minimize it's negative impact while providing an appropriate level of function and service to its people?'