Archived Donald Trump has said he will NOT accept the president's salary (dailymail.co.uk)
submitted ago by Lifelonghabit
Posted by: Lifelonghabit
Posting time: 4.1 years ago on
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Archived on: 2/12/2017 1:51:00 AM
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176 upvotes, 3 downvotes (98% upvoted it)
Archived Donald Trump has said he will NOT accept the president's salary (dailymail.co.uk)
submitted ago by Lifelonghabit
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[–] rwbj 0 points 2 points 2 points (+2|-0) ago
I'd hold out judgement there. I think for nobody knows really has any clue what Trump is going to do. In particular republicans claim to love his plan because it lowers taxes, democrats claim to hate it under the assumption it's a huge handout to the wealthy like most taxcuts. However, one thing has mentioned that both sides seem to be ignoring is that he wants to try to balance his tax cuts by removing tax loopholes that allows corporations and wealthy individuals to avoid paying much of any tax. For instance the nominal corporate tax rate in the US is about 40% yet major corporations such as Apple ultimately pay far less than even 1% tax on their total income. A corporate tax rate of 15% could potentially be hugely revenue positive if the loopholes enabling corporations to avoid paying taxes were closed.
I do think Trump's goal in office is likely legacy and to try to improve the position of America. You can't do that by deciding to further bankrupt the government with reckless tax cuts. However, you also can't get into office as a republican (or a democrat for that matter) without promising tax cuts.
[–] Master_Foo ago
I'm not arguing that tax cuts are good or bad. In fact, I'm in favor of tax cuts if it includes closing all loopholes. However, that is not what this is about.
What I'm arguing is that Trump refusing to take a salary is meaningless because he is going to profit hundreds or thousands of times that amount from his tax cuts.