Trump says he will propose new tax cuts prior to November

 

U.S. President Donald Trump speaks at the Susan B. Anthony List 11th Annual Campaign for Life Gala at the National Building Museum in Washington, U.S., May 22, 2018. REUTERS/Al Drago

 

WASHINGTON (Reuters) - U.S. President Donald Trump said on Tuesday he will propose new tax cuts sometime prior to November, when Republicans look to retain their control of the U.S. Congress in midterm elections.

 

Trump said he would meet with Republican Representative Kevin Brady, chairman of the tax-writing House Ways and Means Committee, about the proposal. He did not give any details.

 

"We're going to be submitting additional tax cuts sometime prior to November," Trump said in a speech to the Susan B. Anthony List, an anti-abortion group.

 

Trump signed a $1.5 trillion tax cut in December, the signature legislative achievement of his presidency.

 

The economy has been a bright spot for Republicans as they face voters in November, with unemployment dropping to a near 17-1/2-year low.

 

All members of the House of Representatives and one-third of the Senate are up for re-election.

 

Democrats must wrest 23 seats nationwide from Republicans to take over the 435-member House. In the Senate, Republicans control the chamber 51 to 49.

 

(Reporting by Jeff Mason; Writing by Eric Beech; Editing by Eric Walsh and Sandra Maler)

 

-- © Copyright Reuters 2018-05-23

Because tax cuts are magic!

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.

https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

5 minutes ago, bristolboy said:

Because tax cuts are magic!

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.

https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

Don't forget they also do magic for the deficit, and make sure it keeps growing.

Just now, stevenl said:

Don't forget they also do magic for the deficit, and make sure it keeps growing.

Actually, no, the magic part is that the tax cuts pay for themselves with increased economic output. It hasn't' actually worked out that way yet,  but that's why Republicans keep doing it. They figure if they practice enough at passing tax cut bills, sooner or later it just has to work.

9 minutes ago, bristolboy said:

Actually, no, the magic part is that the tax cuts pay for themselves with increased economic output. It hasn't' actually worked out that way yet,  but that's why Republicans keep doing it. They figure if they practice enough at passing tax cut bills, sooner or later it just has to work.

The "reinvesting in the economy" never seems to take place. Corporate entities just take the money and run. No investment in jobs or retooling. What a sweet racket.

7 minutes ago, KhunFred said:

The "reinvesting in the economy" never seems to take place. Corporate entities just take the money and run. No investment in jobs or retooling. What a sweet racket.

There is most likely some marginal increase in investment. But it's not much and it's a very expensive way to get it done.

Anyone not in favor of tax cuts has to be themselves sucking at the tit of taxpayer funded welfare and subsidies. The only fair income tax for all individuals is a 0% rate.

 

As for the deficit. That's easy fixed. CUT OUT OF CONTROL GOVERNMENT SPENDING.

How about that promise for cheaper, universal and better health care you promoted for day one? Helping out DACA kids? Returning jobs.... to China in exchange for the Chinese bankrolling your development in Indo? How about those tax returns? Surely the audit is done by now

" The only fair income tax for all individuals is a 0% rate."

Get real

He's a FAKE populist. 

1 hour ago, Jingthing said:

He's a FAKE populist. 

All populists are fakes.

 

The only difference between any of them is how long it takes for those they fool to cotton on to the fact they've been had.

I swear by some of the replies people would bitch if handed a one hundred dollar bill ! Anytime I get to keep more of my money I consider it a good thing..

 

If people do not like what a company does with their tax cut money don't buy from them.. Pretty darn simple..

1 minute ago, 727Sky said:

I swear by some of the replies people would bitch if handed a one hundred dollar bill ! Anytime I get to keep more of my money I consider it a good thing..

 

If people do not like what a company does with their tax cut money don't buy from them.. Pretty darn simple..

Perhaps some folk take a broader view and consider the damage done by cutting budgets to give the tax break. 

 

 

What a coincidence...  Just in time for the midterm elections.  The "chicken in every pot" line is so damn trite.  The fact that it keeps working is a testament to the ignorance and stupidity of the voters.

3 hours ago, Emster23 said:

How about that promise for cheaper, universal and better health care you promoted for day one? Helping out DACA kids? Returning jobs.... to China in exchange for the Chinese bankrolling your development in Indo? How about those tax returns? Surely the audit is done by now

" The only fair income tax for all individuals is a 0% rate."

Get real

How about his trillion dollar infrastructure plan? The revenue lost to tax cuts would have more than paid for that.

4 hours ago, bristolboy said:

Because tax cuts are magic!

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.

https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

In other news Harley Davidson is opening a factory in Rayong!...

Making Thailand Great Again!

8 hours ago, Time Traveller said:

Anyone not in favor of tax cuts has to be themselves sucking at the tit of taxpayer funded welfare and subsidies. The only fair income tax for all individuals is a 0% rate.

 

As for the deficit. That's easy fixed. CUT OUT OF CONTROL GOVERNMENT SPENDING.

Trolling? 41 years teaching, thus sucking on the government tit? Very difficult to hold my tongue ... screw it...and those who hold such views. You want the service? Then pay for it...highways, education, healthcare or military spending....

This is akin to Yingluck holding up an iPad and saying "vote for us and you get one of these". Is there any difference in Trump's move to the guys that walked around the local villages in Thailand with bags full of money giving everyone 200 baht to secure their vote? It is truly pathetic. One can only hope that Mueller is reasonably close to throwing out some nation shocking criminal offences on Trump. The trouble is that Mueller will want to finish the job before he moves and there is so much crap on Trump it could take Mueller another 5 years.

Every time there's a new tax cut, it's the little people who wind up paying for it.

2 hours ago, quandow said:

Every time there's a new tax cut, it's the little people who wind up paying for it.

And what's hilarious and sad at the same time is that some of those little people just bend over and say "Thank you Sir, may I have another", as is evident from a couple of the man-child supporter replies in this thread.

19 hours ago, 727Sky said:

I swear by some of the replies people would bitch if handed a one hundred dollar bill ! Anytime I get to keep more of my money I consider it a good thing..

 

If people do not like what a company does with their tax cut money don't buy from them.. Pretty darn simple..

So you’re a taker out for yourself, but some people have children they care about having to pay these bills.  Besides, it’s completely irresponsible