That plan was shaped heavily by Stephen Moore, an economic policy expert at the conservative Heritage Foundation think tank, who advised Trump's campaign. But it has since been shelved.
"I don't like the idea of scrapping it and starting over again," Brandon said.
A senior administration official said the White House has started from scratch on the tax plan and, while setting business tax cuts as the highest priority, is consulting with lawmakers, economists and business leaders before taking it to the Republican-led Congress.
Why isn't Stephen Moore working for Trump? Why are they scrapping the plan Trump ran on? That's what he won on!
Apparently paying more heed to Cohn and other moderates on his team, Trump last week said he was open to reappointing Janet Yellen as Federal Reserve chairman when her term is up and he also held back from naming China a currency manipulator.
The media keeps trying to play this up as a flip flop. The truth is that he is trying to get China to get North Korea under control. He has to compromise with them. If he labels them a currency manipulator right of the gate, he risks losing cooperation. As far as Yellen goes, Trump met with Al Gore and told the NYT he was "open" to changing his opinion on global warming. Those of us on the right were very concerned, but that didn't happen. Trump never said he was keeping Yellen. He said he was "open" to it. I don't think he wants to announce he is letting her go two years before her term is up. Maybe he'll keep her, but it wouldn't surprise me if he let's her go.
Cohn has already put his stamp on regulatory policy by working with Kushner to successfully push Wall Street lawyer Jay Clayton for head of the Securities and Exchange Commission after billionaire investor Carl Icahn, an early Trump supporter, had vetted other candidates. Clayton's nomination has been advanced to the Senate for a vote.
The vacant Federal Reserve vice chairman's seat is a key regulatory role Cohn and his colleagues on the economic team want to fill soon. Cohn has interviewed nearly two dozen candidates and has whittled the list down. Randal Quarles, a veteran of the George W. Bush administration is one of several candidates left, a source familiar with the process said.
He wants to bring in Wall Street lawyer Jay Clayton. Once again, I would prefer to trust Carl Icahn who was there from the beginning.
The article says Cohn will try to reduce taxes on lower income Americans. Lower income Americans do not pay taxes. This is junk.
Trump has hard-right advisers?
Who knew?
We don’t need more ‘moderate policies’
Fake news and nothingburger anyone?
A Democrat is”pushing Trump towards more business friendly policies” is he?
On what planet is that?
Trump is the Pope of business friendly policies. That's what he has been doing since day one by killing Obama’s kamikazi, anti business regulations and fighting to keep manufacturing jobs here even before he assumed power.
Yet another piece of Goebbels propaganda from AL Reuters aka The Ministry of Truth from Orwell's “1984”.
The truth is that he is trying to get China to get North Korea under control. He has to compromise with them. If he labels them a currency manipulator right of the gate, he risks losing cooperation.
______________________________________________________
I don’t think he is helping himself on this front honestly. Nothing between China and North Korea has changed except Trump either looking like he was being deliberately deceptive or not thinking the situation through during the campaign.
Why isn’t Stephen Moore working for Trump? Why are they scrapping the plan Trump ran on? That’s what he won on!
Apparently paying more heed to Cohn and other moderates on his team, Trump last week said he was open to reappointing Janet Yellen as Federal Reserve chairman when her term is up -—————————————
Glossed over this one...not really saying it is problematic but I am.
I loved the fact that Steve Moore was part of the economic team during the campaign...I liked his plan. Now it seems that we have the Democrat-leaning Goldman Sachs varsity bench advising Trump on economic policies...:(
or worse if you want to look at Hassett, the nominee for Chief Economic Council Advisor, who views immigration as the solution for GDP growth—not reduced taxes and less regulation...
Utter nonsense
As usual the media are trying to place a wedge between Trump and the voters
I’m pretty sure Trump thinks for himself.
I see it’s another day of specials on Fake News at Reuters.
You know it is no longer fake news trying to undermine Trump when the establishment has become giddy about Trump’s 180s and having new-found respect for him. Morons like Maxine Waters and the Soros-hired protesters haven’t gotten the message. Or might never, since they are useful idiots with no influence anyway.
This is Al Reuters who along with CNN,NYT,WAPO,NBC,ABC,CBS,MSNBC etc. are always to jump in on creating the semblance of division and disunity, infighting, chaos where the panacea is always to point to the ‘moderate’, ‘reasonable’ voices such as Cohn’s.
Cohn was brought into the West Wing under Kushner.
And he is no genius and the President doesn’t think of him as a genius. He’s a shark who knows how to kill anything in his path. The President knows these types of people very well.
When the President calls someone a ‘genius’, it doesn’t mean he thinks that person a genius. It means he thinks the person is trying to be a genius, that their MO is to show everyone how bright they are.
So if the President calls someone a genius, that person would do better to lay low and blend in.
Cohn knows one thing which is how investments are borne out of the carry trade and how tax policy allows some sharks to make tens of millions without paying a penny in tax.
Cohn is good at knowing how to make a fluff false case for sharks. He’s likely a good salesman for that and he likely knows little else.
We can be assured Cohn knows nothing of how to lift the American civilization back to greatness. He doesn’t have it in him. He is in the West Wing for one reason and one reason only, to gain access to the President, to influence him, to get inside knowledge and an assessment of the players around the President.
Cohn needs to go, yesterday.
Look at the below and keep in mind that Wall St. bankers are pathological liars. It is part of their job description
Look at the real Goldman globalist view here:
“Goldman CEO takes lead on Wall Street in slamming Trump travel ban”
“Goldman Sachs Group Inc Chief Executive Lloyd Blankfein became the first major Wall Street leader to speak out against President Donald Trump’s order to halt arrivals from several Muslim-majority countries.”
http://www.reuters.com/article/uk-usa-trump-immigration-companies-goldm-idUSKBN15E1H2
And then look at their real agenda here:
“If Lloyd Blankfein gets his way, even more Goldman Sachs executives will join the upper echelons of the American government.”
“Blankfein applauded former Goldman Sachs president and his Number 2 Gary Cohn’s decision to become Trump’s top economic adviser. Cohn, who raised eyebrows by leaving Goldman Sachs with $285 million, is already playing an influential role selling the White House’s efforts to rip up financial regulations that impact Wall Street firms like Goldman.”
The President can choose from many incredibly talented actuaries and tax planning accountants to lay out a clever and effective economic plan.
He absolutely does not need Cohn or anyone like him. But he’s letting Kushner do what he wants which is disturbing but which will hopefully resolve itself in the months ahead.
But my view above is the conservative alarmist view. We know from following the President that he does things that are counterintuitive. At the risk of my being too smart by half, we can hope that the President is keeping his friends close, and his enemies closer.
Ask yourself the question, what would happen if the President were to say enough is enough, Kushner, Cohn and all their clique need to vacate now!
The President would lose the snakey ‘view’ of Goldman and Wall St. He would have Blankfein once again slamming him in the press about everything and then some.
So let’s hope the President is letting the sharks sit at the table so that they are neutralized on the outside.
What happened? The Congress uses static analysis of the budget. There was no way to “justify” the deep tax cuts because there was nothing to “counter” them. In other words, if you cut taxes a trillion, you have to cut government a trillion or raise other taxes a trillion. There was no allowance for the Lauffer Curve and dynamic analysis.
How was this going to be addressed? Ryancare, for all the idiocy it had, showed on paper it would “save” $1.5 trillion over 10 years. The Trump Administration was going to front load that savings to offset the $1.5 trillion in tax cuts and military spending increases. We didn't get that “trump card” to smooth over the static analysis concerns, so we don't get Congress to move forward with other positive changes.
With Ryancare, Trump could use the embedded executive authority to make it a lot more like how we all wanted it, but the Freedom Caucus didn't like that the next president could undo these things just as quick. But if the economy took off like gangbusters, the tax revenue would have been so much higher than expected (again, the dynamic analysis shows this would happen) and Ryancare could be ended early, because more people would have employer insurance and fewer would need Ryancare. This would allow Stage 3 to happen with little impact. But we don't expect to see that, now.
Because the dominoes were not allowed to fall where Trump could leverage them.
This is getting old. Every day, several pieces about Trump being influenced by liberal Democrat policy makers. Either it is or it isn’t happening. Either Trump is a know nothing limp noodle or these are lies. Either these are lies aimed at demoralizing and discouraging his base in light of special elections or they are true and Trump is headed for a whopping loss. What he has done has been good. What these journos say he will do not so good. I am sick of the stories and time will tell. Just stop writing and posting. It is what it is.
If these rumors are true trump will be a one term FAILED POTUS.
What in-fighting?
Not. What. I. Voted. For.
“He wants to bring in Wall Street lawyer Jay Clayton. Once again, I would prefer to trust Carl Icahn who was there from the beginning.”
I agree.
Also, if memory serves, many here told us not to bellyache about Bannon getting marginalized because Jared was there from the beginning, and Bannon was a Johnny-come-lately. Therefore JK gaining the upper hand is all well and good.
Wonder what these same people will say now that Ichan’s judgement doesn’t seem to carry the weight as us once did.
“Governments don’t rule the world, Goldman Sachs rules the world.” - Alessio Rastani.