Taxes…

The news is all atwitter about Trumps taxes. Let’s put this in perspective: Trump was a business man, head of a huge corporation … dollars to donuts the only thing he did on his taxes was proofread and sign. (I base this assumption on personal experience because that’s my husband’s involvement in our 1040.) Trump chose excellent accountants and lawyers to work for him – IF they found enough loopholes so he didn’t need to pay taxes, I’m impressed and wonder if his team would like to help me with mine.

BTW, this article points to page 17 of Hillary’s own taxes and apparently she uses very similar – if not the same – tax loopholes. So, this could be another example of the pot calling the kettle black.

Was Hillary trying to make Trump angry with her accusation or just make him look like a tax cheat?  …. If he had gotten angry, she would have had video proof of his temper / if he didn’t rise to the bait, she could put our ads claiming it was true… Win-win situation for her / Lose-lose for him.  cs1qnpbw8aaxqki

IF, like Bank of America, he didn’t pay taxes,  that’s a feather in  his staff & investors’ cap…. Hear me out. IF his people found a way to avoid taxes, it should tell voters that IF he becomes president of our country, this tells me he would be savvy enough to appoint the right people to oversee the various aspects of running our country in a successful way.

Hillary has a history of hiring “cronies” … I haven’t seen her taxes, but was told that she donated huge sums to her own foundation and took a tax deduction for giving money to herself, so her deductions might be more questionable than his. I’ve also heard that her foundation donates less than 10%. Assuming these figures are accurate, it would seem to coincide with what the authors of Clinton Cash discovered, as they researched her complex pay for play history. You can watch the movie version of that for free here.

BTW, I am neither a republican nor democrat … my goal is to choose the best person for the USA… (On Thursday, September 22, 2016 our country’s population was estimated to be 324,648,061 …. am I the only one who wonders how in the heck we voters have ended up choosing between this pair?)

Last week, a friend, who was trying to figure out who to support. One thing she did was calculate which candidate would be best for her family’s budget. This is her assessment:

I compared Hillary Clinton and Donald Trump’s tax plan to see how it would effect me as a middle class tax payer. Here’s the breakdown using $75,000 of taxable income.

Hillary Clinton’s website does not list a table of tax brackets and so I must assume that her rates will remain the same as it is currently and as it pertains to the middle class. This places that salary in a 15% tax bracket (married filing jointly). The standard deduction is currently $12,600 which brings my income down to $62,400.

Under Hillary this brings my federal tax bill to $8,432.50 per year. That’s around $700 per month or $325 a paycheck. (my salary is divided over 26 pay periods).

Donald Trump places that salary in a 12% tax bracket. His standard deduction is $30,000 which reduces my taxable income to $45,000.

Under Trump this brings my federal tax bill to $5,400 per year. That translates to me paying close to $450 a month in fed tax or around $220 per paycheck.

Donald Trump’s tax plan would put an extra $125.00 a paycheck in my pocket every paycheck. That’s almost $250.00 a month or $3,000.00 per year in extra money.

If I were to invest that $125 each paycheck into my mutual fund that has a lifetime average rate of return of 13% I would have….almost 2 million dollars when I retire around 30 years from now….

Think about that when you consider who you are going to vote for in November. An extra $3,000 can go an extremely long distance in most people’s households (especially for my family of 5).

Hillary doesn’t identify her proposed tax brackets on her website but here is her tax plan to look for yourself.
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Author: foguth

Though Jeanne began her career technical writing, her love of romantic-suspense, whether it be present, future or in an unknown galaxy inspired her to write the novels she wanted to find in bookstores. Since marrying, Jeanne and her husband have lived from the arctic to the tropics, as well as from yacht to off-grid mountain home. She loves using vivid colors and flowing shapes in her oil paintings as well as creating edible landscapes. At present, she is finishing writing the Chatterre Trilogy and working on a new episode for The Sea Purrtector Files. You can always find out what she is working on and/or contact her at: www.jeannefoguth.com.

9 thoughts on “Taxes…”

  1. And whoever sent them to NY Times (notice, very little on Hillary’s comments about the Millennials), committed a crime. Great post, Jeanne. Keep it up. I don’t think I’ll be half way back to normal until I pick up MaLassie’s ashes. xo

    Liked by 1 person

    1. I would LOVE to know who sent those tax records to the NYT and IF they are real or some sort of forgery…. As a fiction writer, the number of red herrings I could craft from that event, is practically enough for a novel.

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  2. Hillary and much of the left are scared out of their minds. They are grasping at straws. There is far more dirt in her dealings than there are in Trumps, but she’s SCARED to pieces. She knows the only way she can win is cheat. She’s prepared to do that.

    Have a fabulous day. ☺

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    1. I know exactly what you mean, but most people do need to file taxes. I for one would like to see the IRS shut down, unfortunately, I don’t see that happening, so think everyone deserves to know how each proposed tax plan would affect their budget.
      …. Our governor just put our entire state under ‘hurricane watch’ and IF the predictions don’t change, Michael could hit our house on Thursday. So IF I’m offline for a few days, it probably means we’ve lost electricity.

      Liked by 1 person

      1. We have a better than 50% chance of being hit by tropical storm winds and rain… if the odds of a hurricane hitting here increase, we might to more than put up storm shutters and make sure we have plenty of water as well as gas for the generator.

        Liked by 1 person

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