Posted on 01/22/2020 12:45:14 PM PST by SeekAndFind
A "very big" tax cut for middle-class Americans will be announced over the next 90 days, President Donald Trump said in an interview Wednesday.
"We will make that permanent for the middle class," Trump told Fox Business' Maria Bartiromo in an interview from the World Economic Forum in Davis, Switzerland, where he also added that further initiatives are coming on healthcare.
"We've done well with health care. We got rid of the individual mandate. That was a thing people couldn't do, they couldn't afford it, they didn't want it," said Trump. "They were forced to pay a number and not get health care. We are coming up with a plan that is going to be fantastic."
Last week, Trump's top economic aide Larry Kudlow said he's been working on a "Tax Cuts 2.0" plan to be released later this summer, in time to be a campaign issue ahead of the 2020 election.
The tax cuts are in contrast with plans being presented by Democrats seeking the presidential nomination who are proposing tax increases to pay for expanded government services.
In a separate interview, Trump told CNBC's Joe Kernen that his administration will "probably lower taxes if you want to know the truth."
"If you take a look at what we’ve done, we’ve cut taxes in half," said Trump. "We’ve taken in more revenue substantially than we did when the taxes were high. Nobody can even believe it. But we take in more revenue with the big tax cuts. I mean you were paying really 41% and we brought it down to 21%, and it’s sort of lower than that."
Trump added that the cuts will "absolutely" be a priority" in the upcoming year.
(Excerpt) Read more at newsmax.com ...
May their chains set lightly upon them.
A one time collected national retail sales tax, collected at the cash register. That way, ALL, everyone, gets to pay a tax...even those here illegally and living off the rest of us since most live by being paid cash. You all do understand that when they are paid cash they can collect welfare no? Then, if they claim to have overpaid, or need to collect it back, they can file for a tax number and take it to the IRS to reclaim that money by showing their receipts.
Where is Davis, Switzerland?
Yes!!
Border wall, more tax cuts, and the other 200 things he has accomplished will make for a great positive campaign.
I’m thinking 10% reduction in the size of all government agencies with exception of a few...VA, Defense, Immigration/Border enforcement...things of this nature.
Eliminate certain departments that are redundant to that for states...Dept of Education, EPA, Dept of energy and so on.
Hiring freeze across the board. Let attrition kick in.
Cut foreign aid. Cut funding to communist college campuses. Abort planned parenthood.
Create a work requirement for social benefits...everyone can do something if it’s simply keying in data or picking up trash along the roadways...everyone contribute.
Deport illegals by the thousands and strip them of government benefits.
“”But I love leftist-controlled government, spending my money on destructive and self-serving social-engineering projects!”
The Leftists don’t spend your money on social-engineering projects, the LAUNDER your money through social-engineering projects into their and their family’s bank accounts.
At least we’ve learned that much for certain...
What did Scrooge McDuck do to you? Jeff Bezos, yes indeed.
More on [bracket shifting]
https://www.foxnews.com/media/maria-bartiromo-middle-class-tax-cut-trump-davos
Bartiromo told Smith that while the president didn’t provide specific numbers during the interview, she got a sense of the range of the tax cut.
“At this point,” said Bartiromo. “if you are making between $30,000 and $100,000 you are in the tax range of about 24 percent to 28 percent. He’s talking about cutting that to 15 percent, Sandra.”
“He didn’t go into specific numbers. I don’t know if it’s going to be 15 percent. But, he definitely has been talking about that range,” she explained.
Always loved the inclusion of Big Mike on the right, LOL.
Thanks!
Quite a few agricultural department employees quit when it was announced they were moving to Kansas City.
Keep it up until property values in the DC area dive like those in Detroit during a major slump in auto sales.
Trump wants new middle-class tax cut 'of about 10 percent'
'President Donald Trump said today that he will propose a new tax cut “of about 10 percent” for middle-class Americans.
“We’re giving a middle-income tax reduction of about 10 percent – we’re doing it now for middle-income people,” he told reporters. “This is not for business.”
“That’s on top of the tax decrease that we’ve already given,” he said.
Trump was vague on timing, saying “we’re putting in a resolution sometime in the next week or week and a half, two weeks,” but did not offer additional details. He said he would ask lawmakers to vote on it after the midterm elections.
“I’m going through Congress,” he said, adding that he would not try to cut taxes through an executive order, as he's been pushed to do on capital gains taxes. “We’ll do the vote after the election.”'
Because trillion dollar deficits aren’t nearly high enough.
And none of that is being proposed by anyone, certainly not anyone in Congress.
It wasn't happening when the GOP had both Houses of Congress.
Again, the tax cuts is NOT the CAUSE of the budget deficits.
Government revenues went UP *AFTER* each tax cut, from Reagan to GWB to
Trump.
The problem is and has always been this -— SPENDING WENT UP EVEN MORE!
The unknown is what revenue would have looked like had the tax cuts not been enacted. Revenue may have gone up, but at a lower rate than otherwise. So tax cuts that are not joined by spending cuts will always lead to higher deficits.
The problem is and has always been this -— SPENDING WENT UP EVEN MORE!
And nobody, not the President or Congress, want to do anything about that.
Trump and the GOP are buying into Modern Monetary Theory and it's going to end bad.
RE: A tax cut won’t matter at this point without a spending cut
YOU GOT IT.
Democrats keep harping about tax cuts causing deficits when the evidence shows that tax cuts INCREASED government revenues (JFK, Reagan, GWB and Trump all showed this to be true ). The problem is this — with increased revenue, there is INCREASED APPETITE FOR GREATER SPENDING !!
If revenues increase by 3%, SPENDING INCREASES 6% ( latest figures after 2017 ).
With this -— WE WILL ALWAYS HAVE A BUDGET DEFICIT!!
But how do you cut spending? If anyone ( even Trump ) proposes a budget that cuts or even slows down spending on this or that program, there will be outcries about starving people or dying seniors, etc.
And when Trump refuses to sign the budget proposal, guest what happens next? A GOVERNMENT SHUTDOWN.
And then American citizens start moaning about how they are inconvenienced because of this shutdown.... and so this cycle repeats itself.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.