Taxes

There’s No Plan for The Plan

JM Ashby
Written by JM Ashby

Trump is expected to kick off a campaign to sell "tax reform" (read: tax cuts the rich) this week, but there's more than one problem.

We already know the White House is not going to release their own tax reform plan and will instead sell a plan cooked up by congressional Republicans, but congressional Republicans don't have a plan either.

To highlight this disparity and breakdown in communication, Trump's chief economic adviser claims the tax-writing Ways and Means Committee would produce a bill in the next few weeks, but that's obviously not going to happen. Furthermore, that timeline appears to be news to the Ways and Means Committee.

“They’re nowhere. They’re just nowhere,” said Henrietta Treyz, a tax analyst with Veda Partners and former Senate tax staffer. “I see them putting these ideas out as though they’re making progress, but they are the same regurgitated ideas we’ve been talking about for 20 years that have never gotten past the white-paper stage.” [...]

National Economic Council Director Gary Cohn told the Financial Times in an interview published Friday that the Ways and Means Committee would write the tax legislation "in the next three or four weeks." [Ways and Means Committee spokeswoman Emily Schillinger] declined to confirm that, saying only that the panel is working toward achieving a tax overhaul in 2017.

Two things are going to happen in the very near future.

Trump is going to sell a plan that doesn't exist and he's going to promise it much earlier than it could reasonably happen.

Trump is suppose to talk about reform during a rally in Missouri this week, but my gut says he'll spend about 10 seconds talking about taxes while the rest of his rambling speech will be dedicated to raw red meat.

  • muselet

    There used to be sensible Republicans. They believed some nonsensical stuff about politics and society and economics, but they could govern (they understood that governing meant compromises and dealmaking and, yes, logrolling). It was possible to have a rational conversation with them. It was even possible to vote for one occasionally without feeling the need to give one’s soul a Silkwood shower.

    No longer.

    Now, all Rs know how to do is obstruct and wail about how those people! and the wimmins! are getting uppity and lecture anyone they come upon about the dire need for tax cuts. There are maybe—maybe—a half-dozen Rs in elected office anywhere in the country whom I’d trust to run a homeowner’s association.

    They can’t even manage to agree among themselves how to cut taxes.

    Donald Trump is worse.

    Trump knows nothing and cares less about the legislative process. He knows nothing about tax law, only partly because he has a batallion of accountants and attorneys to deal with that for him. All he knows is that he wants a tax cut for himself and he wants it now! now!! NOW!!! and it’s everyone else’s fault he doesn’t have one yet.

    Hell of a way to run a country.

    –alopecia

  • Dread_Pirate_Mathius

    Two things are going to happen in the very near future.

    Trump is going to sell a plan that doesn’t exist and he’s going to promise it much earlier than it could reasonably happen.

    And the third: He will blame Congress and / or Democrats while accepting no responsibility himself.

    • ninjaf

      And Texans will continue to be flooded out with little to no acknowledgement from The White House.

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