Is this true: Trump to tax the poor

[left-of-center2012]

Actress Holland Taylor, from the TV show "Two and a Half Men", was on ABC's 'The View' this morning and said Donald Trump wants to change the tax laws so anyone making over $10,000 a year will have to pay income taxes.

$10,000 a year comes out to $833.33 a month.

Meanwhile Trump plans to give corporations and the filthy rich HUGE tax breaks.

[WhiteTara]

1. They want to remove head of household exemption

and mtg interest. I don't know about income tax beginning at $10,000, but there will be pain.

[ALBliberal]

2. I suspect the earned income tax credit is on the block.

Rewards work but seen by wealthy as a freebie.

[kelly1mm]

3. For 2016 it is 10,360 which is the cuttoff in income before Federal income tax applies

for a single person with no dependents. So I am not quite sure what the issue here is???

[jodymarie aimee]

13. nope

I make $12Grand a year, SSDI and pay none.

[kelly1mm]

16. Social Security income is taxed differently than regular income. See below:

Here's how it works. If you are married and you file jointly, and you and your spouse have more than $32,000 per year in income (including SSDI benefits), a portion of your SSDI benefits are subject to tax. If you are single, and you have more than $25,000 in income per year, a portion of your SSDI benefits will be subject to tax.

[lapfog_1]

4. The elimination of deductions (mentioned by the nominee for Treasury)

starting with mortgage interest...

That should cook his goose with his white suburban supporters.

[dembotoz]

5. folks have run the numbers and low income folks may see taxes go up

blanket statements are misleading at this time but i would not expect much for low income folks

i have seen the base rate is going from 10 to 12 percent but with deductions who knows

[haele]

9. Problem is with parents or head of household in lower incomes.

While the low income people may not see the loss of mortgage credit deduction, removing the added standard deduction for dependents within a household will put a significant bind on anyone making under $100K.

The bracket that includes the majority of Trumpanzees that will also suffer in the proposed taxes. Between the loss of standard deduction for dependents, a reduction (or removal) of the mortgage interest deduction and reducing the tax tiers from five to three puts a burden on those making between $50K and $100K - the so-called "lower middle class" and a good number of small business owners and consultants, who will be stuck in the same tax tier as those making between $100K and $250K, without the benefit of getting the interest on their primary home deducted off the top.

The only low or working class taxpayers that I can see who are guaranteed to see their taxes actually go down significantly will be families with only one or two dependents, who rent or own their home outright making between $30K and $60K. Everyone else making under $100K might see a change of around 20% >/< $500 a year or so.
If those making over $50K currently have mortgage interest and any dependents beyond the spouse, their taxes will go up.

I worked out the figures under the proposed rates; because I make between $70K and $90K, even with the reduction due to the supposed reduction of the "marriage tax", and with one child dependent, a student loan payment, and no mortgage, my family is actually going to be on the hook for around $1200 - $2K a year in federal taxes more - the same out of pocket tax liability under the new plan I would have seen in this situation if my family income was $75K - $100K a year more.

If I were a typical small home business owner or independent contractor, that might mean the difference between keeping my business or having to quit and hopefully find a job for a big employer where I didn't have to worry about the costs of doing business as well as making a profit.

If I had a mortgage, that additional tax liability might be the difference between keeping the family home or hoping to sell and seriously down-size our debt before we get foreclosed on.

The Drumph/Pence/Ryan/Wall Street tax plan will not be "putting more money in my pocket", nor would it enriching any of my co-workers. In fact, it will be coming up behind us to pick our pockets and then rolling us for spare change. Especially those co-workers with a mortgage and more than three kids - and worse if they're divorced custodial parents.

My company management however - the people making between $250K and $300K a year - they're doing much better...

Haele

[MFM008]

6. If democrats in house and senate

Don't fight them on this and do everything they can we have lost the essence of who democrats are.

[SoCalMusicLover]

11. Fight For What?

Sure, they'll vote against everything, but they have ZERO control. The repubs control every branch, and they ALWAYS stick together.

Everything they can do is really not much. It all comes down to votes, this isn't a baseball game where the pitcher batter 9th might hit a home run once in his career. Fighting will certainly get them and us worked up, but the election was what mattered.

[MFM008]

14. When I first started to watch politics

I used to watch the house in session almost every day on CSPAN in the 90s.
I watched the very minority republicans obstruct, filibuster, delay and do everything they could to throw a wrench into things.
Thats what Im talking about.
Using WHATEVER tools that are available to stop, obstruct and filibuster the maggots agenda.
Lives depend on it. Lives that voted against him. Its up to us to ride our electors like Sea-biscuit.

[Doreen]

7. Why does everybody

act so surprised when taxing the poor gets talked about? We are taxed much heavier than most people are willing to admit. I am talking of course about the "working poor". When I was able to work I looked at my pay stubs comparing them those who made more and I paid more along with a lot of other people who pay more than those who made more than them. Of course the working poor is going to get taxed more because that is how it always has worked.

[wishstar]

8. Many R's do advocate higher taxes on poor via a flat tax and taking away tax exemptions/credits

Their stated reasoning spouted by most R's I know is that flat tax on everyone is more fair and incentive for poor to work harder and make up for getting free stuff.

(No matter that in places like NC, the huge tax cuts to wealthier are being paid for by higher sales taxes even on things like electric bills and car repairs, so people of lower incomes are paying more to be able give tax breaks to wealthier and corporations. Repubs in NC also took away the previous small business tax exemption for those businesses making $50,000 or less while giving huge breaks to the larger businesses.)

[Yavin4]

10. Anyone who aint stinking rich is going to see higher taxes.

This what happens whenever Republicans get elected.

[smirkymonkey]

15. Yep. I guarantee it.

Suckers.

[Xolodno]

12. They'll do it indirectly.

First they will cut the income tax, making it "appear" you are getting more income.

Then kill or severely limit the mortgage interest deduction and head of household deduction.

So they throw the populace a scrap thinking they are getting something....while screwing them over from the back end.

Side note: Trump definitely wants the mortgage deduction trounced. The cost of ownership goes up and makes buying a home less desirable and when you compound it with likely interest rate hikes.... Therefore sending real estate prices south. Which he then buys on the cheap. Eventually people will cry over this and Congress will reinstate it. Driving real estate back up....and Trump makes more money.

[world wide wally]

17. What do you expect?

It works for him