by Jeff Dunetz | Aug 8, 2016
The biggest piece of news coming out of the tax plan detailed by Donald Trump in Detroit on Monday was what seemingly was a giant reach out to the conservative wing of the party. Trump outlined a comprehensive plan which in some parts were very close to the plan outlined by Speaker of the House Paul Ryan, and as he presented it he pointed out the differences between his plan and that of opponent Hillary Clinton.
Even though he was interrupted by protesters 14 times, Trump kept his cool and stayed on script—something that he will have to do more often if he is going to win the presidential race.
The Republican nominee’s proposals included streamlining the tax system reducing the number of individual income brackets from the present seven down to three.
When he first proposed three tax brackets earlier in the year the tax rates were 10%, 20% and 25%. But today his proposal included the same tax rates as Paul Ryan’s plan,12%, 25% and 33%. Even more importantly Trump promised “to work with House Republicans on this plan.” A promise that had to make the GOP establishment happy.
The Trump plan reduces Corporate taxes to 15% and at the same time eliminates the “Carried Interest Deduction and other special interest loopholes that have been so good for Wall Street investors, and people like me, but unfair to American workers.”
Just as important as the corporate tax reduction, Trump promised “to cut regulations massively.” The massive overregulation of business during the Obama years has slowed down economic growth. Among the regulations to be rolled back are the repressive EPA regulations on energy (especially coal) production. One of his first acts will be a temporary moratorium on new agency regulations. This will give companies a chance to grow their businesses without worrying about what the federal government will come up with next.
Trump is going to attempt to bring the trillions of dollars placed overseas by American businesses by dropping the rate on the money brought back to 10 percent.
As his daughter promised during her convention speech his tax plan includes something for working parents, making child care allowing parents to fully deduct the average cost of childcare spending from their taxes.
The GOP candidate also promises to get rid of the estate tax promising no taxation without respiration.
Not part of Republican Orthodoxy was Trump’s promise to renegotiate (or pull out of) NAFTA, and to drop the Trans-Pacific Partnership.
By pledging a much tougher line on trade policy, including abandoning the Trans-Pacific Partnership trade deal and renegotiating NAFT, he put himself directly at odds with the U.S. Chamber of Commerce and other major business groups and aligned himself with Bernie Sanders and the populists who helped him to get the nomination. Trump claims his stance on trade pacts will increase jobs and to be perfectly honest there are economists who support his contention, but others reject his stance.
In trying to sell the plan Trump reversed the pitch Obama used so successfully in 2008 and 2012. He presented his plan as forward looking and effectively explained that Hillary’s plan is the same old plan that failed before.
Before Monday’s speech it was billed as Trump’s attempt to turn-around his campaign after the error-filled half-month since the RNC. No one speech will completely turn around a campaign, no matter who the candidate is, how the speech was written, and how well it was delivered.
However the speech today set up the economic themes Donald Trump can use to catch up to, and pass Hillary Clinton, and even go move the party toward unifying— but only if he stays on that message.
At least 14 women interrupted a major economic speech by Donald Trump by jumping up and shouting in a co-ordinated effort to disrupt the Republican presidential nominee's remarks.
EDITOR'S NOTE: Donald Trump is not simply campaigning against Crooked Hillary, no, he has to wage daily battle against Hillary as well as all the various George Soros funded groups like MoveOn.org as well. Today he battled 14 of the phoniest paid female protesters from the George Soros funded Michigan People's Campaign. Trump didn't even skip a beat.
One at a time, women seated throughout the audience stood up and yelled "Mr Trump", but their continued shouts were quickly drowned out by boos as security led them from the room. An organisation called the Michigan People's Campaign said it was behind the protest. It was hard to hear the women, but the group said they were yelling at Mr Trump about jobs and his comments on women.
"It's all very well planned out," Mr Trump said after security had led several protesters out of the venue in Detroit.
Protesters have occasionally disrupted Donald Trump's larger rallies, where members of the public can enter. But this was the first time he faced such sustained resistance at a policy speech delivered to a private group.
He was speaking to the Detroit Economic Club and most people in attendance were club members or their guests. Trump largely stayed on message as security removed the protesters. He paused to let the disruption subside several times and occasionally continued speaking through protesters as the audience offered him applause and standing ovations.
"The Bernie Sanders people have far more energy and spirit," Mr Trump said after one woman was taken from the room.
Several audience members shouted "we love you, Trump" and other messages of support.
In his speech, Mr Trump outlined an overhaul of the income tax proposal he unveiled during the Republican primary campaign, increasing the amount that would be paid by the highest-income earners.
He said he wants to simplify the tax code to three brackets - 12%, 25% and 33% of income. That is a change from September 2015, when he proposed four brackets that would pay zero, 10%, 20% and 25%.
Mr Trump said the "tax simplification will be a major feature" of his plan, and called it "the biggest tax revolution since the Reagan tax reform". He insisted: " We will make America grow again."
He is expected to roll out a series of new policy proposals in the coming weeks as he tries to steady his floundering campaign. He has previously largely avoided policy specifics in his campaign, focusing instead on broad goals.
Donald Trump said he will unveil a proposal to reduce the cost of childcare and increase choices for parents. He said he has been working on the plan with his daughter Ivanka, who is one of his top advisers.
Mr. Trump also said he plans to lay out an education proposal that focuses on school choice, as well as one addressing law and order that would propose new funding and support for law enforcement officers.
Outside the Cobo Centre where Mr Trump was speaking, hundreds of protesters gathered.
Some held what appeared to be sections of white sheets with bricks and "No Borders" painted on them. Another sign read: "Trump Demeans Women". A much smaller group of Trump supporters gathered nearby. One of their banners read: "Trump, Make America Great Again!" source
Tuesday, August 9, 2016
TRUMP'S TAX PLAN IS A WINNER!
Submitted by: Conservative 2 Conservative