March 21 2018

Robert Romano: Who Opposes Tax Cuts? Congressional Republicans!

March 21 2018, 12:48 | Van Peters

Ryan's public championing of tax reform amidst a major natural disaster and the ever-worsening revelations about Trump's connections to Russian Federation is nearly surreal, a real-life version of the dog in the "This is Fine" meme; just ignore the flames and focus on important things like giving millionaires what they want. "It's hard to see exactly what will get past (in Congress)".

As for Trump's response to Charlottesville, 56 percent of voters disapproved of Trump's response and 52 percent of voters blamed white supremacists for the violence.

A majority of Americans believe President Trump is "tearing the country apart", and almost two-thirds are unhappy with the direction the United States is headed, a new Fox News poll has found. And the mortgage deduction is one of the most expensive tax breaks on the books, estimated to cost more than $80 billion a year in the next decade. Others have maintained that it would be unfair and politically foolish to leave out the more numerous businesses that file their taxes under the individual income tax. After all, the president has described American journalists as "the enemy" of the people who "don't like our country".

Schumer waged his threat on a call hosted by the "Not One Penny" campaign, formed by a coalition of left-leaning groups, including Tax March, a group that organized after Trump's election victory demanding the president release his tax returns. And the president took aim at Corker, who had publicly called his "stability" and "competence" into question. He argued that cutting taxes on corporations would allow them to raise wages for their workers (even though most savings from corporate tax cuts go to shareholders and CEOs, and what does trickle down to workers rarely makes it below management). What Republican runs for Congress saying they're against tax cuts? And although tax cuts will raise after-tax rates of return, they will lower investment anyway by diverting saving from productive investments at home or overseas to finance government deficits.

The American people are well aware that Trump would sign all of these bills on Obamacare, on taxes, on infrastructure, and on the wall.

Whether this performance won any hearts and minds remains to be seen. Claire McCaskill, the president offered broad outlines of his unfinished plan for tax reform, calling it "the foundation" for better jobs and prosperity. Trump tells supporters, "I think Congress is going to make a comeback".

But even the latter could prove too heavy a lift.

There are other emerging problems as the negotiators from the Trump White House and GOP Congress scramble to complete a plan in time for a 2017 vote.

That comment suggests that lowering the statutory corporate tax rate is the centerpiece of the plan. And why shouldn't she?

Conservative St. Louis talk show host Jamie Allman then disparaged Danforth's column on the air as "awful" and "petty", and said it would be "close to impossible that I could ever get behind a Hawley candidacy for Senate with John Danforth around".

"If President Trump's previous tax plans are any indication, the wealthy and big corporations will be the ultimate victor at the expense of the middle class", Mr. Neal said.

House Minority Whip Steny Hoyer of Maryland said that Trump's speech smacked of "little more than the same old supply-side hocus-pocus".

But his party's " special interests" just might be.

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