Posted on 04/25/2017 3:41:07 PM PDT by Theoria
The Trump administration has dropped any support for a so-called border adjustment tax on imports, according to two people who have been briefed on the matter.
The tax was intended to be the keystone of a tax reform proposal developed by Republican leaders in the House of Representatives. But it faced immense pushback from influential companies including Walmart and Toyota.
If enacted, a border adjustment tax would have effectively imposed significant levies on billions of dollars of imported goods. Retailers in particular would have been hard hit, as products ranging from tires to T-shirts, which are imported from overseas, would have suddenly cost more. Automakers and other manufacturers that rely heavily on foreign parts and supplies would have also been hit.
The border tax may be revisited later, one of these people said, but it was shelved ahead of the Wednesday release of the White House’s new tax plan. A White House spokeswoman, Lindsay Walters, did not respond to requests for comment. President Trump had always seemed ambivalent toward the border tax.
In a late February interview with Reuters, Mr. Trump said the border tax “could lead to a lot more jobs in the United States.” But the proposal received a mixed reception among his top aides; whereas chief strategist Stephen K. Bannon supported it, National Economic Council director Gary Cohn opposed it.
(Excerpt) Read more at nytimes.com ...
So we will
keep funding foreign nations’ militaries ...
The border adjustment tax is not necessary at this point
It is in fact counterproductive
It is a necessary tool to counterbalance the mindset that encourages the exportation of America’s industrial and technological base - and American jobs along with them
Trump has won the battle to reverse much off shore export of manufacturing but to win the war he must reverse the regulatory and taxation obstacles to American manufacturing to rebuild our manufacturing And other sectors that are being killed and exported
If he can do this, we will see an American economic renaissance if he fails the restoration if American industry will die on the vine
He still needs the border adjustment tax as baseball bat but he does not need to use it right now because he has already won the reversal of job exports
“Trump wins either way.”
Maybe, but we definitely will not.
This is one where I actually don’t agree with Bannon.
The idea is to cut taxes, not just to shift them around. And a BAT is three-quarters of the way to a VAT. As well as tough on lower-income folks who do depend on a lot of cheap imports.
Big, bold and beautiful corporate and personal income tax cuts are what is needed. And I am hopeful that Trump is on the right track for them. I hope the GOP in Congress don’t bog it down however, the sooner the better for both the midterms and Trump’s reelection.
Thanks every so much for educating us poor slobs.
LMAO
And yet, there are folks on “our side” (as if), who are ready to pounce at a moment’s notice.
I’ve never seen such a bunch of middle-aged people acting like children in my life.
Typical BS mix and match of the NYT. Never heard PT say that a border adjustment tax was a key feature of this tax program — That was Ryan who wanted the border adjustment tax. PT has just said a fair system, one where if they charge 20%, we charge 20%, if they charge 50% we charge 50%. Never heard him say he wanted and had to have a border adjustment tax. That was Ryan’s way to raise tax revenue —Pt’s approach has been to have fair trade. So typical of the lying, corrupt, unethical NYT.
Since when was it a “key component” of the Republican tax policy? It was a SUGGESTION.
Jeez you people are something.
No, sadly, you’re missing it. The Slimes is winning its war cuz it’s chipping away at Trump’s base through fake news getting many of the people at places like FR to think Trump is abandoning them. Look at this thread. Shameful.
They have totally played into the hands of the fake newsies.
Thank God Trump can govern without them and make America Great.
I’m convinced they’re a paid, coordinated team.
Not a good week for anything dealing with the border.
He has always bypassed them through Twitter and other means. I suspect he knows exactly what’s going on and he may indeed be making some temporary concessions or seem open to consideration just to see what the other side is plotting.
This thread may see some get suckered in but I don’t see that happening generally. The campaign showed that people are awake, are aware of the games played by NYT, WAPO, CNN, etc.
He still has his base. What he appears to be lacking is a GOP Congress willing to get down and dirty.
And me personally, in my research on Cohn, I don’t get it. I see nothing there. Cohn has not made a case for anything nor Kushner. Those Kushner people don’t talk to the base. That’s the problem. Guess they’re too good for the rest of us.
“Are Cohn and Kushner sick of winning yet?”
If the TPP is resurrected, we’ll know we’re toast.
I want to hear it from his mouth. Tired of the media twisting things around and around from their so-called sources, putting words in his mouth. I seriously doubt this is off the table, it may be on hold for reasons we are not aware of.
I’m not convinced of it, but it has happened before, so I don’t dismiss the thought.
Doubtless the families of those young Americans who come home in bags (probably shot in the back by their "allies") will be immensely consoled by that fact.
I assume Trump’s letting libs think he’s abandoning it, in order to facilitate negotiations.
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