Trump’s play for health care was a bomb……to be honest most everything he has tried legislatively has been a bomb…..but that will change when the Congress returns next month and they want to take up tax reform.
If you think there is some sort of strategy to push through tax reform then as usual you would be wrong……
Trump let the worm out of the can in Missouri…..
President Trump begins his push for another major goal of his White House in a speech Wednesday afternoon in Missouri: the need for tax reform. But White House officials previewing the speech on Tuesday made one thing clear: Don’t expect policy details, reports the Kansas City Star. Instead, expect the president to focus on why tax reform is needed, and he’ll be selling it in populist fashion a la Huey Long, reports Axios. The speech is being drafted by Stephen Miller, notes Politico, which expects to hear phrases such as “Jump-start America” and “Win again.” Trump also is expected to hit on the theme of “unrigging the economy,” a phrase the GOP has been testing with swing voters. The broad strokes include lowering business taxes to help US corporations compete, plus cuts for middle-income taxpayers and a simplified filing system.
“We’re going to end the rigged system,” said one White House official. “We’re going to build a tax code that really allows all Americans to have access to the American dream.” Trump and the GOP aim to have legislation signed by the end of the year, but as Bloomberg notes, fundamental questions remain unanswered, such as “Will the changes be permanent or temporary? How will individual tax brackets be set? What rate will corporations and small businesses pay?” The Wall Street Journal notes that Trump has a further challenge in selling reform as a benefit for the masses when previous proposals from the White House and Republicans have largely benefited wealthier Americans. Trump speaks in Springfield at 3:30pm Eastern.
The stated corporate tax is 35% but in real time they pay NO where near that amount and if they hide profits offshore they pay NOTHING!
Really? The best they can do is a tired plan from 40 years ago? Trickle down economics?
It does not work!
And yet they keep trying to push through this crappy idea that only helps the 1% of the population…..a working stiff gets a stiffy from the government.
The Republican Party’s leaders in the United States House of Representatives have been hard at work for more than a year designing a major reform of personal and corporate taxes. With an election looming in 2018, the House Republicans are determined to deliver a reform package and send it to the Senate for enactment.
This reform will be very different from the last major tax overhaul enacted back in 1986. The Tax Reform Act of 1986 focused on the personal income tax, lowering the top rate from 50% to 28% and cutting rates for lower-income taxpayers. The revenue loss was offset by changes in tax deductions and other accounting rules, producing a reform that was revenue neutral at each income level, even without taking into account the effects of lower tax rates on increasing economic growth and taxable incomes.
Source: Tax Reform and Budget Deficits in America by Martin Feldstein – Project Syndicate
Nothing they do will simplify the tax code….everything they do will be to the benefit of the wealthy.
NO matter the promises this plan is the same old plan the GOP has had for decades…..
As President Donald Trump kicked off his aggressive, Koch brothers-backed tax “reform” push with a speech in Missouri on Wednesday, progressive advocacy groups and policy analysts argued that the president’s tax agenda is nothing more than a “scam” that would take money from low-income families and hand it to the rich.
“Make no mistake, what Trump and Republican leaders in Congress are proposing is not tax reform,” Frank Clemente, executive director of Americans for Tax Fairness (AFT), said in a statement on Tuesday. “They simply want massive tax cuts for millionaires, billionaires, and big corporations, at the expense of everyone else. And those tax giveaways will be paid for by cuts to Social Security, healthcare, education, and other programs that maintain living standards for working families.”
Source: As Trump Begins Tax Reform Push, Critics Rip Plan as Fact-Free, Trickle-Down ‘Scam’ | Common Dreams
Just the GOP playing the long con on the people of the US…..yet again.
The average worker making $50,000 or less will see NO change in their taxes. PERIOD!