Posted on 02/14/2020 8:08:39 AM PST by caww
The package could center around 10 percent tax cuts for the middle class, Kudlow, the national economic director, said during an appearance on Fox Business’ “Maria Bartiromo’s Wall Street ” late Thursday. The administration also wants to make other tax cuts permanent.
Kudlow said administration officials will probably use Office of Management and Budget Director Russell Vought’s $1.4 trillion budget request to craft the new package, dubbed “tax cuts 2.0.”
Trump spoke again of the planned tax cut but said it was dependent on the GOP winning back the House of Representatives, which is currently controlled by Democrats.
Kudlow said that same week during an appearance on CNBC that that tax cuts would be “strategic,” “pro-growth,” and aimed at getting middle-income Americans “the lowest possible rates.”
Democrats have opposed the cuts and any future cuts, arguing they’re contributing to a rising national deficit.
(Excerpt) Read more at theepochtimes.com ...
Eliminate taxes on Social Security. That will get the vote of the gummers and cottonheads.
Any future change in tax rates should be accompanied by COMPLETE ELIMINATION of SALT itemized deductions.
I say this as a resident of a high tax state & county (Maryland).
lowering taxes will help a lot!
Brilliant. Make that a campaign pledge. People resent the hell out of paying taxes on SS.
Combine a cut in taxes with a cut in spending. Soon the debt carrying costs will overwhelm the budget.
the new SALT deduction restriction makes great political sense on a nationwide basis, but really hurts many working people badly in a handful of high-cost states. Perhaps this could have been implemented prospectively in some fashion - which would have at least been fairer to the impacted workers
also Congress eliminated any and all employee expense deductions, even where workers have to pay quite a lot of costs on their jobs. Yes, employers COULD pick these up but not all employers have seen fit to do it, or do it in full. So again, some working Americans got unfairly or disproportionately hurt (and in this instance, without any advance word, warning, or opportunity to be heard).
Good luck with that one. Another tax cut benefitting the wealthy will provide the Dems with a limitless supply of campaign commercials.
Like that's going to happen in an election year. Or any other year.
I’d love to see Contract With America 2.0, with tax cuts and a few other items. That really worked in 1994.
Simply tell GOPers that if they won’t sign it they won’t get any help/money from the RNC.
Democrats have opposed the cuts and any future cuts, arguing they’re contributing to a rising national deficit.
...
NeverTrumpers have opposed the cuts and any future cuts, arguing they’re contributing to a rising national deficit.
...
RINOs have opposed the cuts and any future cuts, arguing they’re contributing to a rising national deficit.
the new SALT deduction restriction makes great political sense on a nationwide basis, but really hurts many working people badly in a handful of high-cost states.
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Most working people, even in high tax states, who had their SALT deductions limited to $10,000 were still better off under the new tax law than they were under the old with its higher rates. Most folks who bothered to do the comparison (few did & I was among that few) would see this. I was better off under the new law...just not as well off as I would have been had my SALT deduction been limited to 10K.
Correction: NOT been limited to 10K
FIRST thing is make congress and the federales subject to all the same laws/taxes they impose on we rabble....force them on the SS system, force them on Medicare as we know it....remove their special pensions/medical care that we don’t have...
You'll get the spending cuts tomorrow to go with the free beer.
For sure link it with spending cuts. The “shortfall” of eliminating SS taxes could be easily made up with department cuts.
:^)
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