After healthcare flop, White House seeks help from Congress on tax

[rooster59]

After healthcare flop, White House seeks help from Congress on tax

By Roberta Rampton

 

President Trump talks to journalist at the Oval Office of the White House after the AHCA health care bill was pulled before a vote, accompanied by U.S. Health and Human Services Secretary Tom Price (not pictured) and Vice President Mike Pence, in Washington, U.S., March 24, 2017. REUTERS/Carlos Barria

 

(Reuters) - U.S. Vice President Mike Pence on Saturday blamed the U.S. Congress for thwarting a Republican plan to overhaul healthcare law, but acknowledged that the White House will need to work with lawmakers to accomplish its next set of legislative plans.

 

Speaking to a group of small business owners in Charleston, West Virginia, Pence said President Donald Trump is ready to move on to his next priority: simplifying the tax code and cutting tax rates.

 

"We're going to roll our sleeves up and we're going to cut taxes across the board for working families, small businesses and family farms," Pence said.

 

"Working with this Congress, President Trump is going to pass the largest tax cut since the days of Ronald Reagan, and we're going to get this American economy moving again," he said.

 

Comprehensive tax reform has eluded previous Congresses and administrations since 1986 when it was last accomplished under former President Ronald Reagan.

 

Pence made his comments the day after the Republican-controlled House of Representatives failed to find enough support within its own ranks to pass legislation to roll back Obamacare -- a setback that raised doubts about Trump's ability to deliver on other big promises requiring help from Congress.

 

Trump and Republicans had campaigned to overhaul former President Barack Obama's health care law, which they have argued is too intrusive and expensive.

 

"As we all learned yesterday, Congress just wasn't ready," said Pence, who spent a dozen years in Congress starting in 2001, and has been a key emissary for Trump on Capitol Hill.

 

"With 100 percent of House Democrats -- every single one -- and a handful of Republicans actually standing in the way of President Trump's plan to repeal and replace Obamacare, we're back to the drawing board," Pence said.

 

On tax reform, Pence said Trump wants to cut the corporate tax rate to 15 percent from 35 percent to spur investment.

 

The House of Representatives' tax committee is working on legislation that would cut the corporate rate to 20 percent.

 

Pence said the White House also would seek to work with Congress to boost funding for the military, roll back regulations on the energy sector, and confirm Judge Neil Gorsuch, Trump's pick to fill a vacancy on the Supreme Court.

 

Standing with Linda McMahon, who started and ran World Wrestling Entertainment before being named as head of Trump's Small Business Administration, Pence joked that the White House could use some muscle to work with lawmakers.

 

"Maybe we could have used a few of your WWE superstars on Capitol Hill yesterday," Pence said.

 

 

-- © Copyright Reuters 2017-03-26

[craigt3365]

2 hours ago, rooster59 said:

"Working with this Congress, President Trump is going to pass the largest tax cut since the days of Ronald Reagan, and we're going to get this American economy moving again," he said.

 

Trump doesn't know how to work with Congress.  I'm all for tax reform, but given his history, not so sure he can pull it off.

[rijb]

59 minutes ago, craigt3365 said:

Trump doesn't know how to work with Congress.  I'm all for tax reform, but given his history, not so sure he can pull it off.

Perhaps he'll delegate it to his new officer, in the west wing.  She has top security clearance.  I think her name is Ivanka.  

[heybruce]

The US tax Federal Tax code is ridiculously complicated, to such an obscene degree it only favors rich people who hire clever lawyers and accountants, and big businesses that use lobbyists to buy tax favors.  I will support any president and congress, even this bunch of clowns, in any serious effort to improve it. 

 

However I don't see it happening.  Congress likes selling tax favors for campaign contributions, and Trump clearly pursues embarrassing, if not outright illegal, tax strategies that he doesn't want the public to know about.  There is too much self-interest at stake among the players.

[Grubster]

Raising taxes on the wealthy or eliminating loop holes they jump through is the only way I see to get things going in the economy there, maybe modest cuts to the working class. I sure hope he doesn't want to follow Reagan's footsteps.

[Srikcir]

7 hours ago, rooster59 said:

President Trump is going to pass the largest tax cut since the days of Ronald Reagan

  Reagan'sTax Equity and Fiscal Responsibility Act of 1982 was, at the time, the largest peacetime tax increase in U.S. history.

https://www.washingtonpost.com/opinions/five-myths-about-ronald-reagans-legacy/2011/02/04/ABs1qxQ_story.html?utm_term=.8e2c92ec09e8

The question is whether Trump succeed Reagan?

[dunroaming]

Well Trump is desperate to get at least one of his promises fulfilled so maybe going to Congress cap in hand and pleading with them to help him out will work!  Then again.....

[Thaidream]

The US tax code is 75,000 pages of complicated tax codes and laws. In fact it is so complex the average Ameerica does not understand it and has to either pay someone to do it for them or use a computer program. In addition, the guidance one gets when calling the American Revenue Unit (IRS) often results in the wrong answer. In fact, it sometimes takes a good hour to even get through to a representative and Trumps current overall budget cuts the IRS budget.

In essence what needs to happen is to simply the tax law; make it fair for everyone; and get the wealthy to pay much more than they do now by eliminating the options they have and the rest of us do not. I am all in favor of lowering rates on business and repatriating funds held offshore - but the wealthy 1% have got to be made to pay their fair share.

The main problem in the US is that there must be a redistribution of wealth from the 1% to the remaining  99%. 

Remember this- if you are a millionaire and your income is $5 M per year and you have to pay a rate of 50%- you are still a millionaire after you pay your taxes and you maintain your same lifestyle.   However, if someone who makes $30,000 per year is placed in a lower tax bracket and allowed tax credits amounting to a gain of just 30%- they are pushed upward and gain almost $9,000 in income. Their lifestyle is enhanced tremendously. 

If Trump can pull this off- he would gain some support- but I doubt his mind works this way seeing as how he supported a healthcare bill that penalized the poor in favor of the wealthy.

[Srikcir]

23 hours ago, rooster59 said:

"Working with this Congress

Make that "working with the Republican-controlled Congress."

 

With the failure to repeal & replace ACA, Trump's tax reform and infrastructure program are in trouble. They're all interrelated with regard to funding. The reason that AHCA (aka Trumpcare, Ryancare, etc.) was first on the congressional agenda (aside from Trump's campaign promises to pass with his frist 30 days in office) is that it would generate hundreds of billions of dollars beginning in 2018 in savings that would in turn  in large part fund the revenue losses from Trump's tax reform and cost of his infrastructure plans.

 

AHCA savings (which excludes hundreds of billions in tax benefits to the top 2% wealthy citizens) would be generated by shifting national healthcare from an entitlement to an option.  An entitlement such as ACA by law must always be funded 100% no matter the amount of borrowing necessary to do so. Similar to social security. By reshaping ACA into AHCA the US Congress has full discretion on how much to fund the program.

 

Those federal funds (really more like discretionary grants) are then managed according to each of the 50 states' political agendas with any shortfall to be either funded by raising state taxes and/or state-provided services cut by each respective state. States by law cannot have deficit spending - they must always have a balanced budget. As a side note, the CBO projected that the AHCA would require cuts by the state in medicare extension that would remove 24 million insured to balance state budgets.

 

So without AHCA, Trump's tax reform and infrastructure plans are crippled, at least for the next fiscal year (beginning October 1, 2017). To preserve his promises to his voter-base Trump will have to scale down either or both objectives of his tax reform and infrastructure plans. If he must engage the Democrats to pass such legislation, his tax benefits for the wealthy may have to be sacrificed to Make the Deal.

[Credo]

@Srikcir 

It doesn't really matter all that much.   He will just start blaming everybody but himself and his party.

 

 

[ilostmypassword]

20 hours ago, Grubster said:

Raising taxes on the wealthy or eliminating loop holes they jump through is the only way I see to get things going in the economy there, maybe modest cuts to the working class. I sure hope he doesn't want to follow Reagan's footsteps.

Yet everything Trump says on the subject is exactly opposite to what you're hoping for.

Edited March 27, 2017 by ilostmypassword

[Grubster]

8 hours ago, ilostmypassword said:

Yet everything Trump says on the subject is exactly opposite to what you're hoping for.

Did you hear all the things Trump said he would like to do during his campaign or did you hear what the news and his opponents said he would do, There is a monumental difference there, now maybe Trump was lying but I would have to wait and see if that is so.

[ilostmypassword]

5 minutes ago, Grubster said:

Did you hear all the things Trump said he would like to do during his campaign or did you hear what the news and his opponents said he would do, There is a monumental difference there, now maybe Trump was lying but I would have to wait and see if that is so.

Did you listen to what Trump - not his opponents - but Trump himself said he would do? It seems clear to me that from this and past statements you actually just want to believe in your imagined version of Trump without even attempting to look up the facts. Next thing you know you'll be claiming he doesn't want to get rid of regulations restraining hedge funds and large banks from doing what they did in 2008.

[Grubster]

9 minutes ago, ilostmypassword said:

Did you listen to what Trump - not his opponents - but Trump himself said he would do? It seems clear to me that from this and past statements you actually just want to believe in your imagined version of Trump without even attempting to look up the facts. Next thing you know you'll be claiming he doesn't want to get rid of regulations restraining hedge funds and large banks from doing what they did in 2008.

I can tell you that I voted Democrat my whole adult life, but did not vote here, I am just tired of the Repubs and Dems sending our work overseas and reducing our standard of living. The Democrats screwed Sanders who made the most sense and ran another the same as the others, and they have done nothing for the working class. If Trump indeed does all the terrible things you think he will then we just get to a point a little faster than with the Dems, thats all. Did you really want another Trade agreement since NAFTA has been such a great success. I want equal tariffs, equal subsidies, equal EPA standards, equal safety and treatment of workers or tariff the hell out of them. Why is it no one can see what is happening even when Bernie Sanders laid it all out for them, were they not listening?  We either get tough on imports or we have to do as our competitors do, pollute the world, lower wages way down, give up on safety, forget pensions, etc.. I say we get tough on imports which Trump says he will do, and Hillary was going to finish another trade agreement. I don't really care about all the crap in between the lines. Abortion, gun rights, black lives matter, and the rest of the smoke screens they send up to block us from looking at what they are doing to the common people of our country. Thats All     By the way there are zero facts about what someone is going to do before they do it.

[ilostmypassword]

2 hours ago, Grubster said:

I can tell you that I voted Democrat my whole adult life, but did not vote here, I am just tired of the Repubs and Dems sending our work overseas and reducing our standard of living. The Democrats screwed Sanders who made the most sense and ran another the same as the others, and they have done nothing for the working class. If Trump indeed does all the terrible things you think he will then we just get to a point a little faster than with the Dems, thats all. Did you really want another Trade agreement since NAFTA has been such a great success. I want equal tariffs, equal subsidies, equal EPA standards, equal safety and treatment of workers or tariff the hell out of them. Why is it no one can see what is happening even when Bernie Sanders laid it all out for them, were they not listening?  We either get tough on imports or we have to do as our competitors do, pollute the world, lower wages way down, give up on safety, forget pensions, etc.. I say we get tough on imports which Trump says he will do, and Hillary was going to finish another trade agreement. I don't really care about all the crap in between the lines. Abortion, gun rights, black lives matter, and the rest of the smoke screens they send up to block us from looking at what they are doing to the common people of our country. Thats All     By the way there are zero facts about what someone is going to do before they do it.

In other words, you don't have a clue about what Trump said he would do about taxes.

[Grubster]

5 minutes ago, ilostmypassword said:

In other words, you don't have a clue about what Trump said he would do about taxes.

Yes I heard him say that he would eliminate many loopholes, and lower taxes for all which I support the loophole thing but not the lowering of taxes. I also understand that lowering taxes is a standard election ploy for most all politicians.  What did you hear him say?

[ilostmypassword]

43 minutes ago, Grubster said:

Yes I heard him say that he would eliminate many loopholes, and lower taxes for all which I support the loophole thing but not the lowering of taxes. I also understand that lowering taxes is a standard election ploy for most all politicians.  What did you hear him say?

Well, for one thing, he would lower the taxes disproportionately more for the wealthy. For another, he actually wanted to increase the deductions for a loophole that just happens to help wealthy real estate developers.  A coincidence?

And no, lowering taxes isn't a standard election ploy for most politicians although it is gospel for most Republican politicians and touted as a panacea.

[iReason]

On March 26, 2017 at 8:27 AM, rooster59 said:

"We're going to roll our sleeves up and we're going to cut taxes across the board for working families, small businesses and family farms," Pence said

 

Well, isn't that just rosy...

Anyone who believes that B.S. deserves what they get.

 

Just like the continuing lies they get from this idiot president...

[iReason]

Just now, Grubster said:

Did you hear all the things Trump said he would like to do during his campaign

 

Can you list some of your favorites from "all the things" he said?

 

We can scratch off the Centerpiece of his campaign, the ACA which he said he would repeal and replace immediately:

 

"Together we're going to deliver real change that once again puts Americans first," Trump said at an October rally in Florida. "That begins with immediately repealing and replacing the disaster known as Obamacare…You're going to have such great health care, at a tiny fraction of the cost—and it's going to be so easy." (video)

http://www.motherjones.com/politics/2017/03/trump-obamacare-repeal-promise-so-easy

 

Along with the second Centerpiece of his campaign; banning all Muslims from entering the U.S:

 

"Donald J. Trump is calling for a total and complete shutdown of Muslims entering the United States..."

http://www.cnn.com/2015/12/07/politics/donald-trump-muslim-ban-immigration/

 

Lest we forget the third Centerpice of his campaign; a 30 foot wall that Mexico would pay for:

 

Trump Says Mexico Will Pay For The Wall And 'They'll Be Happy About It'

http://detroit.cbslocal.com/video/3279893-trump-says-mexico-will-pay-for-the-wall-and-theyll-be-happy-about-it/

 

What do ya got?

[iReason]

Gallup: Trump hits new low after health care flop

 

"President Donald Trump’s approval rating slipped to a new low Monday in the Gallup daily tracking poll, the first measure of Trump’s job performance following his administration’s failure to move a new health care law through Congress."

 

"Only 36 percent of Americans approve of the way Trump is handling his job as president in interviews conducted last Friday through Sunday, a time period entirely after Republicans abandoned their bill to replace the 2010 Affordable Care Act."

 

"Trump’s approval rating is down from 41 percent in the prior three-day period."

 

http://www.politico.com/story/2017/03/donald-trump-approval-rating-gallup-health-care-236546

 

Throw the incompetent bum out.

[landtrout]

5 hours ago, Grubster said:

I can tell you that I voted Democrat my whole adult life, but did not vote here,

 

  Then this unmitigated disaster is squarely upon you.

    Thanks, Grubster!

 

   (signed): The rest of humanity.......

[craigt3365]

11 hours ago, Grubster said:

Did you hear all the things Trump said he would like to do during his campaign or did you hear what the news and his opponents said he would do, There is a monumental difference there, now maybe Trump was lying but I would have to wait and see if that is so.

Trump promised sooo much, it's hard to keep track of all his promises.  Most of which have been broken.  And most of which will be extremely hard to do especially due to his relations with congress.  Heck, his relations with most people.

 

If you say he's not lying, you are trolling as that's been proven.  Many times.

[Grubster]

9 hours ago, ilostmypassword said:

Well, for one thing, he would lower the taxes disproportionately more for the wealthy. For another, he actually wanted to increase the deductions for a loophole that just happens to help wealthy real estate developers.  A coincidence?

And no, lowering taxes isn't a standard election ploy for most politicians although it is gospel for most Republican politicians and touted as a panacea.

You are saying what you think he would do not what he said. Which democrat presidential candidates never mentioned lowering taxes?

[ilostmypassword]

Just now, Grubster said:

You are saying what you think he would do not what he said. Which democrat presidential candidates never mentioned lowering taxes?

No. I'm not saying what I think he would do. I'm saying what he said,  His tax proposal absolutely clearly lowers taxes more for the wealthiest and less for the middle class. No one disputes that except true believers like you. Republicans in Congress justify it by saying that it will boost the economy so everyone will benefit - you know, trickle down - but they don't deny it.

 

Hillary Clinton did not promise to lower taxes in her campaign. http://www.politifact.com/truth-o-meter/article/2016/jul/22/hillary-clintons-top-10-campaign-promises/

 

You know, you could actually look this stuff up. But I suspect you don't want to know.

 

 

[Grubster]

8 hours ago, iReason said:

 

Can you list some of your favorites from "all the things" he said?

 

We can scratch off the Centerpiece of his campaign, the ACA which he said he would repeal and replace immediately:

 

"Together we're going to deliver real change that once again puts Americans first," Trump said at an October rally in Florida. "That begins with immediately repealing and replacing the disaster known as Obamacare…You're going to have such great health care, at a tiny fraction of the cost—and it's going to be so easy." (video)

http://www.motherjones.com/politics/2017/03/trump-obamacare-repeal-promise-so-easy

 

Along with the second Centerpiece of his campaign; banning all Muslims from entering the U.S:

 

"Donald J. Trump is calling for a total and complete shutdown of Muslims entering the United States..."

http://www.cnn.com/2015/12/07/politics/donald-trump-muslim-ban-immigration/

 

Lest we forget the third Centerpice of his campaign; a 30 foot wall that Mexico would pay for:

 

Trump Says Mexico Will Pay For The Wall And 'They'll Be Happy About It'

http://detroit.cbslocal.com/video/3279893-trump-says-mexico-will-pay-for-the-wall-and-theyll-be-happy-about-it/

 

What do ya got?

Yes he said he would repeal Obama care, I don't think he ever cared much about it but could not have gotten elected without it could he? Yes he said he would ban all muslims for forty days while they try to figure out what the hell is going on, and I support that. Yes he said he would build a wall on the border bettering the fence that Obama was building, and I support that. As far as Mexico being happy about it we wouldn't know until after its built would we?

     He also said he would put a stop to the Trans Pacific trade agreement, which has been scraped, I support that, He said he would put tariffs on Chinese products since their production standards don't live up to international standards [ heavy pollution, no safety, and near slave labor], I support that. He said he would punish big businesses that relocate to China or elsewhere, I support that. 

     He also said some things that I do not support. Trade that takes good jobs from the US is my biggest issue and Obama and Hillary were just following the money on that. Income taxes are a moot issue for me as it seems we have moved to the very unfair user taxes anyway.

      I'm sure you don't support the issues I do, thats fully understandable in a democracy isn't it?

[Grubster]

45 minutes ago, ilostmypassword said:

No. I'm not saying what I think he would do. I'm saying what he said,  His tax proposal absolutely clearly lowers taxes more for the wealthiest and less for the middle class. No one disputes that except true believers like you. Republicans in Congress justify it by saying that it will boost the economy so everyone will benefit - you know, trickle down - but they don't deny it.

 

Hillary Clinton did not promise to lower taxes in her campaign. http://www.politifact.com/truth-o-meter/article/2016/jul/22/hillary-clintons-top-10-campaign-promises/

 

You know, you could actually look this stuff up. But I suspect you don't want to know.

 

 

Jan. 2016 Hillary said she would simplify and cut taxes on small businesses, and would cut taxes on working families. I just did look it up and it was the first article up. I don't know how to relay that to here as I am old and computer illiterate.

 

57 minutes ago, Grubster said:

Well, for one thing, he would lower the taxes disproportionately more for the wealthy.

This is what you said where does your comment say that Trump said this.

 By the way this is not about you and me, its about the issues at hand and not personal.

[ilostmypassword]

14 minutes ago, Grubster said:

Jan. 2016 Hillary said she would simplify and cut taxes on small businesses, and would cut taxes on working families. I just did look it up and it was the first article up. I don't know how to relay that to here as I am old and computer illiterate.

 

This is what you said where does your comment say that Trump said this.

 By the way this is not about you and me, its about the issues at hand and not personal.

Yes, you're right. I was wrong about Clinton. That said, her proposal was to cut taxes for small businesses and to reduce regulation. But it was a very minor part of her campaign.

But as for Trump's tax proposals, you can read about them below from a source that I don't think you would call biased: fox business news.

http://www.foxbusiness.com/politics/2017/01/23/trump-doubles-down-on-promise-to-give-americans-tax-break.html

[heybruce]

Updated info on the Americans that will get a tax break under Trump's proposals.  No surprises here.

 

https://www.yahoo.com/news/trump-tax-proposal-mostly-benefit-yorks-wealthy-report-195321173--business.html

[Langsuan Man]