Trump’s Tax Plan: A Pivot Toward GOP Orthodoxy
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.
Donald Trump Speech In Detroit Had 14 Paid Female Hecklers Sent From George Soros And DNC
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
Geoffrey Grider | August 8, 2016 URL: http://wp.me/p1kFP6-
Laura J Alcorn
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Tuesday, August 9, 2016
TRUMP'S TAX PLAN IS A WINNER!
Submitted by: Conservative 2 Conservative
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