Trump administration eyes 10% middle-class tax cut proposal

[Yo_Mama_Been_Loggin]

WASHINGTON (Reuters) - The Trump administration is considering a 10% tax cut for middle-class Americans and making some other tax reductions permanent as part of a package it intends to propose before the November election, a top White House adviser said on Friday.

"We'd love to have a 10% middle-class tax cut, and we would love to strengthen and make permanent some of the other tax cuts," National Economic Council Director Larry Kudlow said in an interview with Fox Business Network, according to excerpts released by the network.

"It'll probably come out some time in September," he added.

The Trump administration's signature legislative achievement was a tax overhaul in 2017. The massive $1.5 trillion legislation reduced tax rates for corporations and individuals, but the personal income tax cuts were set to expire after 2025.

https://news.yahoo.com/trump-administration-eyes-permanent-tax-162818156.html

Coupled with a 50% tax cut for the 1%.

[Skittles]

1. LOL

go fuck yourself, Trump.....we already know where your loyalties lie

[brewens]

2. Of course that means an even bigger break fir the wealthy, which eventually works out

to no tax cut at all.

[onenote]

3. we control the house. we can change his proposal

Raise it to 15 percent and couple it with a roll back of the tax breaks for corporations and the highest brackets.

[wishstar]

8. Good idea of how our side can handle the political fight over this tax ploy

[TexasBushwhacker]

4. Of course, he'll pay for it with cuts to Social Security

Medicare and Medicaid.

[pansypoo53219]

5. where are the deficits hawks now?!?!?

[muriel_volestrangler]

6. 'Serious economic conditions' demand cut to planned federal worker raise, Trump says

President Donald Trump has proposed a 1 percent raise for civilian federal workers next year — an increase that’s less than half of what was scheduled.

The White House said in a message to Congress on Monday that Trump views the planned 2.5 percent pay increase for federal workers as “inappropriate,” noting that presidents can put in place alternate pay adjustment plans in case of “national emergency or serious economic conditions affecting the general welfare.”

“We must maintain efforts to put our Nation on a fiscally sustainable course. Federal agency budgets cannot sustain such increases,” Trump’s message said, adding that under his plan locality pay rates will remain at 2020 levels.
...
On Tuesday, a day after citing “serious economic conditions” for the proposed cap on federal pay increases, Trump proclaimed the “BEST USA ECONOMY IN HISTORY” on Twitter.

https://www.mcclatchydc.com/news/politics-government/white-house/article240228646.html

We have to highlight this, all the time - Trump and his lackeys just lie about the economy, permanently. They cannot be trusted with anything. Remind people - they are committing financial fraud.

[DFW]

7. Usual election year posturing

He doesn't give a rat's ass about anyone other than himself. End of story.

Show me a candidate that will introduce residence-based taxation. THEN I'll be impressed.

Only two "major" countries in the world do NOT practice this. One is Eritrea. The other is the USA. There are six million Americans abroad saddled with extra accountants' fees dealing with this. Those fees range from mild (for simple cases) to punishing (in my case, five figures a year). I'm sure there are a few dozen Americans living around the world on yachts moored in tax haven harbors. The other 5,999,950 of us are saddled with punishing accounting complications of often contradictory tax laws. But it is more convenient to point to the few rich folks (who would give up their citizenship before their yachts anyway) and lump the rest of us in with them.