Posted on 03/13/2018 7:11:28 AM PDT by Enlightened1
President Trump again brings up a "phase two" of tax cuts.
The GOP law passed in December permanently chops taxes for corporations and temporarily reduces the tax rate for most individuals.
Trump wants a 'phase two' of tax cuts Trump wants a 'phase two' of tax cuts 18 Hours Ago | 00:44
President Donald Trump said again Monday he wants a "phase two" of tax cuts on top of the law Republicans passed in December.
Speaking as the World Series champion Houston Astros visited the White House, Trump asked Rep. Kevin Brady, R-Texas, whether he planned to cut taxes further. Brady and GOP Sens. John Cornyn and Ted Cruz were among the lawmakers from Texas attending the event.
"Kevin, are we going for an additional tax cut, I understand?" Trump asked, drawing laughter from those gathered for the event. "Huh? He's the king of those tax cuts, yeah? We're going to do a phase two, I'm hearing that. You hear that, John and Ted? Phase two. We're actually very serious about that, Kevin. So, it's good."
The law passed in December permanently chopped the corporate tax rate to 21 percent and temporarily reduced taxes on most individuals. The plan sparked concerns about growing budget deficits. Now there are questions about the technical glitches and loopholes left by the hastily passed plan.
If Trump and Republicans seriously pursue more tax reductions, it would spark more questions about how to offset the lost revenues. When they passed the bill in December, Senate Republicans did so by the narrowest of margins under special budget rules requiring only a simple majority. It is unclear whether congressional Republican leaders are serious about further tax cuts.
(Excerpt) Read more at cnbc.com ...
I'm loving this!
DemonicRATS never settle for the latest tax increase, it's about damn time Republicans stopped settling for the last tax cut.
Damn the torpedoes! Full speed ahead, Mr. President!
Let people and companies keep more of their own money! What a novel concept!! I don’t know why lefties think taxation creates wealth and a strong economy.
Very smart with an election on the horizon. Everyone just got a bigger paycheque, now they’ll want another!
If helping the middle class is the goal, a clean repeal of 0bamacare is essential.
Recall that 0bamacare is DESIGNED to cripple the economy and all but eliminate the middle class. This is not to mention the egregious intrusion by the government in people’s medical care.
Fiscal policy can and will be changed depending on which way the political winds are blowing.
He’s kidding.
Phase two of tax cuts? How about reducing tariffs?
My gigantic brain knew that WHATEVER was initially passed there’d be another round later, because that’s the way a Trump operates. My gigantic brain, however, is surprised that it came so soon.
It's not just lefties. Just look at the support for tariffs on FR. Some people here think we can tax ourselves into prosperity.
This time, the cut needs to be so big that the Dems cannot refer to it as “crumbs”.
Increase tariffs. That offsets income tax cuts.
It increases THEIR personal wealth.................
Increase the Tariffs for all I care
Why is it that when I send stuff to China, my customers have to pay duties? But when I buy stuff from China, it just shows up here in my mailbox duty free?
Someone isn’t playing fair in all of this “free trade”
If this Richard Head did some research he'd know that tax cuts result in INCREASED federal revenue.
-—Some people here think we can tax ourselves into prosperity. -—
It’s all about returning the exported jobs. They won’t be satisfied until we again manufacture very expensive paint brushes and spin cotton yarn to double the price of T shirts
More tariffs and less income taxes! That is the ONLY Conservative position to take.
“He’s kidding.”
I doubt he’s kidding. Taxes are still way too high, supporting a government that is still way too big. Trump understands this.
“Phase two of tax cuts? How about reducing tariffs?”
Yes, all the countries we trade with need to cut tariffs on American goods.
We need to increase (regressive)tariffs and decrease (progressive)income taxes. We need to give people a reason to save for the future. Savers have been hammered by globalism.
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