Taxes

“We don’t need it”

JM Ashby
Written by JM Ashby

White House officials who spoke to the press in recent days say they've been considering a new package tax cuts intended to offset an economic slowdown. A delegation that included Ivanka Trump, Jared Kushner, and Trump's Chief of Staff Mick Mulvaney also recently told a gathering of GOP donors that they're working on tax cuts including more tax cuts for corporations and shareholders.

With all of that said, Trump -- seemingly realizing that talking about stimulating the economy means the economy is not in very good shape -- told reporters there's no need to pass tax cuts because everything is fine.

Of course, what Trump said yesterday contradicts what he said just one day before.

I am not looking at a tax cut now,” the president told reporters in a reversal. “We don’t need it because we have a strong economy.” [...]

Trump on Wednesday also disowned the idea of cutting capital gains taxes, saying it would overly benefit the rich. The White House has repeatedly signaled that it likes the idea.

Trump said on Tuesday that he was considering both the payroll tax cut and indexing capital gains to inflation.

“Payroll tax is something that we think about and a lot of people would like to see that, and that very much affects the working ― the workers of our country,” Trump said then.

With Trump saying he both supports and does not support a payroll tax cut or indexing capital gains to inflation from one day to the next, what's the truth?

To the extent that establishing truth under Trump is even possible, I believe the White House will formally proposes a package of tax cuts in the fall or early next year following the holiday break. Or possibly even sooner.

From health care to immigration and tax cuts, Trump speaks out of both sides of his mouth as a matter of routine, but the Trump regime always does the bad thing. It's their default position. If the Trump White House actually lands on a good policy position, it's usually by accident.

Trump and the GOP are going to call for more tax cuts and try to blame Democrats for not rescuing the economy.

  • When the only tool you have is a hammer . . .

  • Draxiar

    I suspect that the last person that spoke with trump that exercised an opinion to him is who trump is parroting. I don’t think he knows enough to make an informed decision about anything. So someone gets his ear and convinces him to do “this” which overrides someone else’s earlier opinion to do “that”.

  • muselet

    Everybody has a superpower.

    Donald Trump’s is making bad decisions.

    –alopecia

  • David Greenberg

    I know you have to be aware of what’s going on, but between the reptile’s reversals and the stock market, I’m getting a stiff neck.

    • 1933john

      That reminds me of an old GI
      joke from the fifties in Korea.
      This Air-man in the PX ask
      the clerk, “What you have for
      a stiff neck”?
      She hands him a pack of
      rubbers.