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tax reform Trump

‘Believe Me’: Trump Would Save $1 Billion Under His Tax Plan

"President Trump could cut his tax bills by more than $1.1 billion, including saving tens of millions of dollars in a single year, under his proposed tax changes."

Here’s what Donald Trump said earlier this week about his new tax plan:

It should go without saying that he’s lying.

For one thing, he lies every time he opens his mouth – it’s habitual.

Also, “believe me” when I tell you that anytime someone constantly says “believe me” it’s a sure sign that they are lying to you. And Trump is a man who says “believe me” all the time.

But beyond that, the lie about tax reform is easy to expose. You don’t need a special counsel. All you need is a few minutes and Trump’s 2005 return, which we have.

President Trump could cut his tax bills by more than $1.1 billion, including saving tens of millions of dollars in a single year, under his proposed tax changes,” the New York Times reports.

He would save $1.1 billion from the repeal of the estate tax:

Though it would not be reflected on his income tax return, Mr. Trump’s proposal to eliminate the estate tax would generate the largest tax savings. If his assets — reportedly valued at $2.86 billion — were transferred after his death under today’s rules, his estate would be taxed at about 40 percent. Repealing the federal estate tax could save his family about $1.1 billion, though it could still be subject to New York estate taxes.

Another $31 million from repealing the alternative minimum tax:

The decades-old alternative minimum tax is meant to prevent America’s wealthiest from using deductions to pay very low or no federal income tax. In 2005, it accounted for about 80 percent of Mr. Trump’s overall income tax payment.

Minimum

And another $16 million from cuts to taxes on his business income:

Mr. Trump’s proposed changes could allow individuals to qualify for a significantly reduced tax rate of 25 percent on certain types of income they receive through business partnerships and similar entities. That is up from the original proposal in April of 15 percent, but far lower than the top tax rates currently faced by high-income earners of 39.6 percent.

Income

So to all of those working class voters who are still buying this man’s bald-faced lies, just know that the evidence is right in front of you.

He is screwing you. “Believe me.”

 

 

 

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4 comments on “‘Believe Me’: Trump Would Save $1 Billion Under His Tax Plan

  1. its a little funny b/c he and Sanders during the campaigns said almost the exact same things (ex universal healthcare)….but one of them was lying the whole time. americans idolatry of wealth, allows/makes them believe that whatever a rich person says is true and the person is smart….since you know, look how much money they have, they must be smart.
    the reality is that there are a lot fo very hardworking smart people who will never become wealthy; and there are a lot of wealthy people who are of avg intelligence and have soft hands. the american mythos lives on!

  2. He is a con. He is a Liar. He is mentally challenged, since birth. He inherited millions from this nazi father who was his example of racism and bigotry. He was sent to a military academy when he was flunking out of school and somewhat of a delinquent. His father bought his admission to a college. He is basically poorly educated, misinformed and ignorant of history.

    He is not a successful “business man” in that he has filed bankruptcy at least 6 or 7 times, which even includes a couple of casinos! He failed at ownership of a NFL team. He would have billions instead of only millions if he had never acted like a floundering business owner and braggart. He has been sued almost 4000 times (seriously, almost 4000!) He has lost countless suits he has filed against others. He has paid off people and bought people. He has failed 3 marriages, charged with domestic abuse. Openly brags about grabbing women by their “pussies” because he can get away with it “because he is rich”. Clearly has no respect for women, none, regardless of what he says! There is a huge list of evidence of that and countless accusations. He treats most people with total disrespect and disregards their needs and rights.

    He is a huge and complete FAILURE. His money enables him to get away with his reprehensible behavior and covers for his ignorance. Don’t you ever wonder why we never hear from his own siblings? Are they ashamed and embarrassed by him? Don’t believe for even a millisecond that this pathetic excuse of a human being will ever do anything to help you. Don’t be another fool under his foot.

  3. He could save US a billion simply by not going golfing each week.

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