To say that I have been disappointed in the results of Trump’s search for a cabinet would be an understatement…..so far his picks have been nothing more that the same vermin that has always been in the swamp.
And then there is his much taunted economic plan for the country…..to make the “country great again”…..personally I do not like what I see….does not appear to benefit any of us peasants that he tried to champion…..
But let’s look……
Trump’s economic plan can be broken into three parts: Tax cuts, deregulation and fiscal stimulus.
As far as tax cuts, there are three main subsets:
1–The corporate tax rate, which Trump wants to drop from 35 percent to 15 percent.
2–A tax cut on the so-called “repatriation of funds”– which lowers the rate on roughly $2 trillion of cash that’s currently stashed overseas by uber-rich US businesses that have been evading US corporate taxes for years. Trump wants to give these tax dodgers a one-time “holiday” with a 10% penalty for companies that agree to bring their cash back to the US. Trump believes that the one-time tax break will increase business investment and employment in the US. Critics say the scheme will not work unless the economy strengthens and demand grows.
3–Trump also wants to reduce the top tax rate from 39.6% to 33%, while making modest reductions to the other brackets. Under the Trump plan, “a taxpayer who makes between $48,000 to $83,000 a year would save about $1,000 (while) people in the top 0.01%, making $3.7 million or more in a year, would receive $1 million in annual tax savings.”
I know that his diehard supporters think he will do some miraculous things….but I just cannot see it….
Even the GOP House is not on-board with Trump……..
Donald Trump isn’t going to have a honeymoon period with House Republicans, if the frosty response to his call for a 35% tariff on companies leaving the US is anything to go by. House Majority Leader Kevin McCarthy was among those pushing back against the policies Trump called for in a series of tweets over the weekend, the AP reports. “I don’t want to get into some kind of trade war,” McCarthy said, arguing that lowering corporate tax rates would be a much better way to stop companies leaving the country. “We’ve got to have a level playing field, that companies in America can compete on a level playing field across the world, and right now we do not have one.” McCarthy said it was healthy for a president to get involved in saving American jobs—but he believes in the free market, not “picking winners and losers.”
House Speaker Paul Ryan also called for policies more in keeping with the traditional GOP position on free trade, reports the New York Times. “We can get at the goal here, which is to keep American businesses American, build things in America, and sell them overseas—that can be properly addressed with comprehensive tax reform,” he said. Trump’s tariff plan, which is likely to need congressional approval, may have more fans among Democrats. Trump “won in part by campaigning against the Republican establishment on many economic issues,” said Democratic Sen. Chuck Schumer, the next Senate minority leader. “If he wants to get something done for working families in this country, he’ll have to stand up to them when it comes time to govern, too.”
Will he, Trump, learn to work with his “buds” in the House?
He has promised an infrastructure boom, a huge military, tax reform, on and on and on….one question Mr. Trump……
Where you gonna get all this f*cking money?