Posted on 12/22/2017 10:43:52 PM PST by Kevin in California
Country music legend Charlie Daniels has opened on Chuck Schumer and Nancy Pelosi, posting his thoughts about the Democrats on social media just before Donald Trump signed the new Tax Cut And Reform Bill into law.
Mr. Daniels ripped everyone including those jerks at the United Palestine - or as dad calls it Useless Nations
Oct 2016: Schumer Says Top Priority for Next Year Is Giant Corporate Tax Cut
The Intercept ^ | 10/19/2016 | Jon Schwarz
Posted on 12/22/2017, 10:20:43 AM by Teflonic
New York Sen. Chuck Schumer, likely to be majority leader next year if Democrats take back the Senate, told CNBC Tuesday that one of his top two 2017 priorities would be an enormous corporate tax cut.
Speaking of himself in the third person, Schumer said that weve got to get things done. The two things that come, that pop to mind because Schumer, Clinton, and Ryan have all said they support these are immigration and some kind of international tax reform tied to a large infrastructure program.
American multinational corporations are now holding a staggering $2.5 trillion in profits overseas, refusing to bring the money back at the current tax rates until they get a special deal.
Revenue-starved Democratic leaders have broadly hinted they are prepared to cave, either for a holiday period or permanently.
In an exchange with CNBCs John Harwood, Schumer confirmed that the latter is in fact in the works. When Harwood asked Schumer if it would be a permanent lower rate, not a holiday rate, Schumer replied, Yes, you cant do a one-shot deal.
Schumer said he envisions international tax reform as providing funding for an infrastructure bank.
Hillary Clinton has not publicly supported such a plan. However, during a private October 13, 2014, speech to the Council of Insurance Agents and Brokers, Clinton told the audience that A number of business leaders have been talking to my husband and me about an idea that would allow the repatriation of the couple trillion dollars that are out there. And you would get a lower rate a really low rate if you were willing to invest a percentage in an infrastructure bank.
For his part, Schumer has long been negotiating with Ohio Republican Sen. Rob Portman to lay the groundwork for such a corporate-friendly deal.
While Massachusetts Democrat Sen. Elizabeth Warren has called such a scheme a giant wet kiss for the tax dodgers, Schumer told CNBC that hed have no trouble getting her on board. Shes going to surprise everybody, Schumer said. Shes going to be both a progressive and a constructive force.
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