When asked, trump repeated the claim and the date.
That video is from October 20. Thus, Trump proposed a tax cut, or at least an outline of one, would happen in 11 days.
Made Up on the Fly
Not Going to Happen
- For starters, Congress is in recess.
- Second, top Republicans do not know what he is talking about.
- Third, Trump claimed the last tax cut was for the middle class. Whether or not you agree with the tax cut, it definitely was not for the middle class.
What’s It All About?
Politically speaking, the last tax cuts were a public relations disaster. Trump is smart enough to recognize that.
Inept Democrats failed to take advantage.
Instead, the Democrats wasted time on Kavanaugh and with Elizabeth Warren’s ridiculous DNA scam that made her look incredibly foolish.
For every mistake Trump makes, Elizabeth Warren, Nancy Pelosi, or some other totally inept Democrat comes to the rescue.
If you are a Republican, you are laughing out loud.
Mike “Mish” Shedlock
He didn’t say November of what year.
“Whether or not you agree with the tax cut, it definitely was not for the middle class” Please elaborate. Nearly everybody saw their taxes go down.
This is %100 populist promises. Notice that he will not be able to pass this until after the election (if at all). This is no different than banana republic presidents promising free food and beer if you vote for them (Yes they promise and deliver such thing). And yes it is a populist promise unless you make cuts to account for the giveaway. Anyone who think this is MAGA really needs to get out more and see what happens with populist countries
Any tax cut is good. What’s crazy is deficit spending and paying interest on money required to run the govt. A haircut is coming, at a minimum. Do it now and include debt-equity swaps and get on with it.
Since career politicians will NEVER admit a mistake or reform, sadly the needed changes must come after the forced reset. All we can hope for is a new Democracy grows from the ashes instead of a totalitarian hell, which the establishment thinks it can survive.
The thing that makes Trump dangerous is that he knows just how dumb his supporters are.
That’s a century’s worth of pervasive publicly funded progressive indoctrination for you. Working exactly as intended.
The thing that makes the dummycrat leaders dangerous is they know they are destroying America.
“…inconvertible currency, a sovereign national government is finally free of money worries and need no longer levy taxes for the purpose of providing itself with revenue… It follows that our Federal Government has final freedom from the money market in meeting its financial requirements… All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.” Beardsley Ruml 1946.
Does it matter if it is 1 trillion, 10trillion or 100 trillion. Bond yields have barely moved higher, and the overall inflation rate is under 3%
I’m surprised people still spend energy debating tax cuts. We’re so far past the point of no return on debt that we may as well, as some have suggested, abolish taxes altogether. What’s the point? The books never need to balance, just have the Fed conjure up whatever is needed. We’re already pretty far along this path, we could just drop the pretense of caring about budgets and revenue.
From here on, it’s $1T-plus annual deficits as far as the eye can see, and that’s only for official public debt. It may be best we can’t peek into the Fed’s books, just a glimpse would probably stop the average person’s heart cold! For heartier people it may not be lethal, but you’d still occasionally stroke out at the podium like Janet.
The best feature of abolishing taxes altogether, is that it would allow us to abolish the spy apparatus required to keep them in place. Once all of that was gone, it would be much harder to put back in place again.
Dicking around with a few percent here and there of one inane “tax reform” after another, has exactly zero practical benefit. Rather, it’s just one more means by which the DC Party gets to sucker uncritical simps into believing there is some sort of meaningful difference between the parties.
Once the pretence disappears inflation will take hold and then take a moon-shot. It will be game over for fiat
Tax cuts without a reduction in spending is like a bankrupt family spending even more lavishly on their credit cards. It makes no sense and is pure vote buying. Its like given more heroin to an addict to cure him. Bush did the same thing and started an expensive war on top of it. We are circling the drain and unless the useless corrupt politicians on both sides get their act together it will end poorly at some point. The bipartisan tax overhaul proposed by Simpson- Bowles was universally rejected because it was the correct thing to do to fix the fiscal mess but would be unpopular with the sheep. Unless we fix that, ie vote buying to get reelected, nothing will change. A constitutional convention to change the whole system to limit corruption and pandering to the sheep is needed. That is the only way we can right the ship at this point
The tax cuts for companies was a good policy choice by Trump.
However rich individuals had their taxes cut too much in my opinion, they should have had their taxes cut a bit less and more of the tax cut could have been given to middle class and especially lower middle class.
Again the trickle down effect gave large wages increases to lower and middle wage Workers not to mention the 50 year low in the unemployment rate.
it’s undoubtedly safe to assume people have long ago grown weary of being trickled upon while being told it’s liquid gold.
Upper middle class here… I get about $650 a month more in take home. I’ll take it, but there are a lot of people that needed it more.
The previous tax cuts were superb for companies and good for workers but there could have been more tax cuts for lower middle class workers.
Biggest problem with previous tax cuts was that they had a sunset clause for the employee tax cuts.
I hope Republicans make these worker tax cuts permanent.
You are right that democrats have been incompetent in becoming a crazy mob with Kavanaugh and Warren’s “Here’s proof I am 1/1024th native American” was just an epic fail that shows Warren has NO political eye whatsoever.
Uh no, companies gave back the majority of their tax cuts to Workers both in the form of higher wages and the lowest unemployment rate in 50 years not to mention the increase in 401k.
NO.
Even the companies giving ONCE their employees 1000 dollars per employee gave much less than they benefited from the tax cuts.
Also these companies so far have not promised this extra 1000 dollars every year despite them benefiting from lower taxes every year.
If the companies would have given the tax cuts to their employees in higher wages then everyone should have gotten 15%-20% raise in their wages and so far that has not happened.
The unemployment rate is nice and Trump has done much better than Obama but USA still has work participation rate of about 60% of the working age population when many European countries have work participation rates of 70%-75%.