White House officials ramp up new tax cut talks, as Trump seeks sharp contrast with 2020 Democrats

[BumRushDaShow]

Source: Washington Post

White House officials and congressional Republicans have begun early talks on a new package of tax reductions and economic growth measures, under pressure from President Trump who is agitating to announce a new tax cut proposal heading into the 2020 election. The discussions are preliminary and far from the decision stage, according to officials involved. The timeline is unclear, but White House National Economic Council Director Larry Kudlow is playing a lead role, people briefed on the talks said.

The early-stage discussions reflect Trump’s desire to refocus the economic narrative amid some signs of a slowing economy, and after the major Republican tax-cut package of 2017 failed to produce enduring economic benefits or political gains for the GOP. “We are having those discussions with the White House, we’ll be engaging with them further, and we’ll have discussions with Republicans too in the House, about what we think the most pro-growth elements can be, the most pro-innovation, and I think the key is to make permanent some of the key provisions as well in tax reform,” said Rep. Kevin Brady (R-Texas), the top Republican on the tax-writing House Ways and Means Committee.

The Commerce Department said Wednesday that the economy grew at a 1.9 annualized rate, falling short of Trump’s goal of 3 percent annual growth. The Federal Reserve on Wednesday cut interest rates for the third time this year to try and boost more growth. Business investment has now contracted for six straight months, a marked slowdown, even as the tax law and new spending increases have helped dramatically balloon America’s federal deficit to close to $1 trillion annually.

Brady was a key architect of the 2017 tax cut law and said in an interview that the goal was to produce “a growth agenda with the most pro-growth tax code we can create, along with, of course, we’re always looking for more middle-class tax cuts.” While emphasizing no decisions had been made, Brady said the issue was a priority for the president.

Read more: https://www.washingtonpost.com/us-policy/2019/10/31/white-house-officials-ramp-up-new-tax-cut-talks-trump-seeks-sharp-contrast-with-democrats/

---

Let's bankrupt the country on the way out and make the Democrats clean up our mess. "KING OF DEBT!!111!!!"

[no_hypocrisy]

1. Why? The House is controlled by Democrats who won't pass it.

[Maxheader]

2. Cheetox may lie to the public...

and tell them the democrats don't want them to have any tax breaks..

[LiberalLovinLug]

15. That's exactly how this is set up.

Because it works. Who doesn't want to pay less in taxes? Especially with all the government suspicion created by RW media.

Democrats are split. Not fatally as some would like to foment, but there is one between the mostly younger (+ Sanders and Warren) progressives who want to push for a big leap forwards and those that think we dare not to not continue to position just to the left of wherever the Republicans go, so as not to scare more conservative D voters. No matter how far right they have to shift themselves to get there. To remain always at a place not radically or leftwardly different, especially in financial policy. A very cautious approach.

They have to go all in either way. There is also a split in belief that the American public would or would not shy away from bold new proposals. I think the public is screaming quietly for big bold ideas (for some on the right it was The Wall) And if, hopefully, Sanders or Warren wins, there has to be an honest discussion about how taxes are a better vehicle towards cheaper, more comprehensive healthcare, than private insurance bills. IMO there is also an appetite with a majority of voters, and those that would vote if there was something to vote FOR like medicare-for-all.

The GOP use the "we will cut taxes....Democrats will raise them" every damn election. And the establishment Dems immediatly go into full defensive mode but they can never compete with how much Republicans will cut taxes (and then cut social services to pay for them). So why not embrace the concept? Be honest. But also be honest about how it will save money for taxpayers overall. And what they get for it. And also how many other things are "socialist" like how they fund the military. Put it into terms people understand, like it is pooling money together to get the best deals. Like they do to buy, say, tanks for the army.

[BumRushDaShow]

20. OMFG While I was reading your post

I have the radio on and just heard a campaign commercial for a group of GOPers (didn't catch for what positions) in Delaware County, PA (outside of Philadephia) that used a Bernie Sanders sound-alike to literally do what you said - argue for a tax increase - while talking to a voter, but in a RW nefarious way, and the voter then says something like "I'll stick with (blah blah) Republicans for (whatever positions)" or something along that line.



I have to see if there is an audio of that.

EDIT - I think the ad was in reference to the Delaware County "County Council" race (that "Council" probably similar to other rim counties that call them "Commissioners&quot . They run in 3s and the 3 Democrats are trying to flip the majority there to (D) and if they do so, it'll be the first time since the Civil War. Neighboring Montgomery County did similar 8 years ago.

[LiberalLovinLug]

23. I believe it

That's why we have to narrate that conversation. Not let Republicans do it for us.

That's why we can't be denying it, or not be on the same page. We have some candidates simply not being in favor at all of new program spending, and prefer to tag along with Republicans myth of trickle down tax cuts. Some candidates promising program spending, but refuse to admit taxes are a part of it, or thirdly, candidates that admit it will cost something, but stress the benefits being worth the burden.

I think that the progressives in the party have already tried to rally around the 'third way' approach for the last couple of decades. Maybe its time to try things from the other angle. If all Democrats including Pelosi, and candates like Biden, would get behind medicare-for-all, and we speak as one voice, voters would respect that and be open to it. We may not win with just the "at least we are not Trump" or "vote for us and we'll go back to how things were before Trump" strategy. But with the division about it in our party, it gives rise to these kinds of phony ads by Republicans.

[BumRushDaShow]

26. I think the "problem" with many of these approaches

is that the U.S. is HUGE. And because of that it is "regionalized", with people who tend to congregate with "people like themselves". But there is also a geographic, demographic, and population density reason for why they are the way they are (including other factors like topography and weather). So an approach that might work in one region would be completely rejected in another. So Democrats have to learn about their audiences and then find a way to cut through the regionalization factor and "speak to" those things critical to our platform, but do so in "language" that they can understand.

[paleotn]

24. A political calculation only. No need to actually pass the legislation.

[KPN]

3. Promise them candy. So transparently lame ... for thinking people at least. nt

[Vinca]

4. I want a pony. I won't be happy unless he delivers a pony to my house.

[SWBTATTReg]

5. Oh? So the 2017 tax cuts and jobs bill wasn't enough? Is the GOP admitting that they ...

screwed up? Apparently so.

[Lock him up.]

11. Yeah, bring that into the spotlight.

Trumpist Republicans don't care about trillion-high deficits.

They all lied to you when Paul Ryan was screaming about Dems deficits.

They. Dont. Care. About. Trillion-High. Deficits.

[cstanleytech]

13. Thats not true. They care when a Democrat is in office at which point they suddenly care

about spending.

[Lonestarblue]

19. You're right.

Many Trump Republicans are white evangelicals who don't care about the deficit, climate change, or corrupt government. They’ve convinced themselves that the Rapture is coming and they will ascend to heaven while we progressives will be left either in hell or in whatever mess Earth has become. Not their problem. The trouble with end-days predictions is that they’ve never come true, so it will be everyone’s children and grandchildren who are left to clean up the mess.

[gibraltar72]

6. Yeah lets go for two trillion deficits.

[Yavin4]

8. Why stop at 2?

Let's go to 20 trillion?

[Newest Reality]

7. I think there are...

I think there are some serious problems looming for the economy overall in the near future and tax cuts are not even going to be an issue or a relief for anyone, (though we know who will benefit most). Of course, the tax break bull is mere political posturing and more like a promised payoff.

There are usually alarmists out there that signal a crash every so often. I am no economist, but I have now read several articles that go into just how shaky the house of cards is right now and there are implications that, this time, it will be far far worse that 2008 because of the various factors involved.

[PSPS]

9. The motivation here is solely political

Trump proposes things only that benefit him either financially or politically. He certainly isn't being motivated here because of looming trouble with the economy. He thinks this will drive voters to him in 2020.

Having said that, I've seen the same things you have. The nightly repo propping up is a uniquely bad indicator. Cutting taxes has no rational basis now because most people pay little or no federal income tax anyway. If anything, the federal income tax rate needs to go up, especially on the top 1% whose tax rate is now less than it's ever been and is now, in fact, lower than the low rate paid by ordinary wage workers.

I guess we'll get a lot of nonsense now about a "middle-class tax cut" coupled with the definition of "middle class" as $250K a year (the median income in the country is about $50K per year.)

[cstanleytech]

14. I suspect the real motivation is $$$ as in they want to run the whole thing into the ground

so they can do things like buy up a bunch of assets on the cheap as the bottom falls out and the remaining middle class is pushed over the edge into poverty.

[Newest Reality]

16. Good Point

It has happened before.

Money is made on the way up and on the way down. For those with liquidity, they can scoop up businesses and properties for pennies on the dollar. Nice deal if you can get it!

That's what I don't like because there is an incentive. Oh, many players will fall in the process, but the big ones have the potential to increase their holdings and take us another step closer to the looming Oligarchy at the end. It reminds me of those who bankrupt companies and then walk away with a fortune and for them even losing is still winning, but it can be destructive for others.

There are flaws.

[DENVERPOPS]

12. Crashing the market

Crashing the market only gives the 1% an additional leg up. They sell short, make money on the way down. Then they sit and wait for all our retirements and 401K's to build it back up.......Wash, Rinse, Repeat.

It will only give them even more money to stash away off shore while everyone in the 99% runs around to find a way to try and make it with even less money than before.

[IronLionZion]

10. Because it's working so well after the last tax cuts?

Dumbass's tax cuts are directly causing the current economic issues. And there is less tax revenue to stimulate the economy when the next recession hits.

[Turbineguy]

17. Bribery to get votes.

[turbinetree]

18. Maybe the Democrats should propose a tax cut for those of us that got ratf**ked in the last

tax cut that got screwed..............you know the ones that can't write off there entire mortgage & property tax, and while were at it, lets give people that have car loans interest rates and credit card interest rate loans that are paying interest on everything in some shape or form that are poor and the middle class, to be able to that write that off.

We use to be able to write it off, because it wasn't a profit to us but the corporation can write it off as profit /loss and get a tax cut in the process.........................as they just say doing business..............

And just for more interest on this subject matter, lets bring back the old bankruptcy act, because after all the middle class is so stretched now on debt, wages are stagnant for the last 40 plus years and corporation and those with the means use to pay 70 percent on taxes and now pay less than zero in some cases and CEO's make over 3,000 % more than the "average worker".....................and get deferred compensation and don't have to pay a tax on the earnings................

But if a person files for bankruptcy well in some cases you have to still pay back the loan, even if you can't put food on the table, and the middle class gets left to hold the proverbial bag on the dead beats that don't pay, like Amazon, Wells Fargo, Facebook, Lockheed Martin, Boeing, Bank of America , Donald Trump, Moscow Mitch McConnell for starters ..................

But when the a**hole Ronny Ray gun.....came into power the libertarian BS went into full effect and the Neo-liberalisum BS was coming down the pike......the country got a balanced budget but then then we got a asshole that went into war based on lie , and now our collective war debt is over 4 trillion dollars and wages are still stagnant , no benefits................. etc.....and the vicious cycle starts all over again..................


And then the criminal in charge of the republican party now, the same one that stiffed contractors and whoever else crossed his path and stiffed the state of New York out 400 million in state taxes, and I just can't imagine what and how much he stiffed the federal tax system, but it makes one wonder.....................wants to try and do another tax cut..............while being impeached.................

And now he, the traitor and, 198 plus others in the minority of Congress and 53 in the Senate, want to create more deflection, because after all as the traitors enabling there sh*t show say, get over it, everyone asks a foreign power to take over our election and its just normal to just f*ck national security......................that ( libertarians and Neo-liberalism) think that ratf**king the middle class with a bogus tax cut, if it was just great the last time, and it worked last time on the ratf**king, lets do it again......................

And to top it all off they the libertarians and neo -liberalism fanatics are going to say that "seniors, and the young, middle class paying into social programs are bankrupting the country........................Happy Halloween......................

[roamer65]

21. I got a 22 percent tax cut.

I want more.

[Nitram]

22. Well, that makes perfect sense. We only have a trillion dollar debt. Let's cut taxes again.

[paleotn]

25. Geez, they're dumb.

Is this the best BS they can cook up?