"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Monday, December 4, 2017

Trump adviser: 'This is not a true tax reform bill'

The GOP is Two-Faced

  • The GOP will allow giant corporations to deduct state and local taxes, but the average Joe is banned from doing the same thing.  For reasons beyond my understanding the idiot GOP Oligarchs think increasing taxes on many in the middle class is a winning campaign platform.
  • Taxes are being cut. That is something. Keep in mind though that not one penny, NOT ONE CENT, of spending is being cut by the "small government" GOP.

(Politico)  -  One of President Donald Trump’s top outside economic advisers says the individual side of the GOP tax plan never should have happened and threatens to “hurt a lot of different people.”

“The individual side of this is maybe not the worst thing I’ve ever seen,” said Larry Kudlow, a prominent economic commentator and former adviser to President Ronald Reagan, in the latest POLITICO Money podcast. “But when you end the state and local deduction, because rates are still relatively high, you are going to hurt a lot of different people. So the internal logic was not good and this is not a true tax reform bill.”

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"Donald Trump has ended the war against business.”

(Newsmax)  -  Republican tax reform will translate into between 3 and 4 preen economic growth “for as far as the eye can see,” economist Larry Kudlow says.

“There are warts in this bill — I've never been crazy about the individual side — but the big economic bang is coming from the business tax cuts,” he said. “This is powerful stuff. The economics profession doesn't understand, nor does the Joint Tax Committee, nor does the [Congressional Budget Office], just how powerful this is going to be.”
“I believe you're looking at 3 percent to 4 percent economic growth for as far as the eye can see,” he said. “We're moving into a higher gear. And that's why I think people should hang on to their stocks."
He also reiterated his assertion that "Donald Trump has ended the war against business.”
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1 comment:

george ezra washington said...

its not in time to start something new about it ...
that large deficit monster is unstoppable ...
as economics fall , and democracy need votes that a recipe for doom , and neo-colonialism