What does a TRUMP presidency look like?

[HVC]

I like how the WH has to now state that diplomatic calls were amicable

[The Minsky Moment]

Read the PRC's version from the last call with Xi.  Are the Chinese being dicks, too?

The Chinese call report was more diplomatic than Trudeau's

[celedhring]

Seems that Trudeau is taking advantage from the WH being all dicks, by being a dick himself and still looking good.

[The Minsky Moment]

It's a cheap way for him to play the nationalist without pissing off any domestic constituencies.

[garbon]

http://thehill.com/policy/finance/330606-treasury-secretary-says-trump-to-propose-biggest-tax-cut-in-history

Treasury secretary says Trump to propose biggest tax cut in history

...

He confirmed that the proposal would cut tax rates for businesses to 15 percent. That rate would apply to both corporations and owner-operated businesses known as "pass-throughs."

...

he 15 percent rate was also part of Trump's campaign plan. Mnuchin said that Trump thinks that's "absolutely critical" for driving economic growth.

He also said that the administration wants to simplify the personal tax system and that most Americans should be able to file their taxes on a large postcard.

...

[HVC]

hey, you guys voted in a republican, tax cuts to the rich is a given, trump or no.

[Zanza]

https://www.nytimes.com/2017/04/26/us/politics/trump-tax-cut-plan.html?_r=0

Mr. Mnuchin said this week that the tax changes would spur the economy to grow by 3 percent, which he said would pay for the vast cuts in federal revenues.

Beyond cutting the tax rate to 15 percent for large corporations, which now pay a rate of 35 percent, Mr. Trump also wants that rate for a broad range of firms known as pass-through entities — including hedge funds, real estate concerns like Mr. Trump's and large partnerships — that currently pay taxes at individual rates, which top off at 39.6 percent.

Ah, the Martinus school of tax policy. That's what he always boasted about.

[alfred russel]

https://www.nytimes.com/2017/04/26/us/politics/trump-tax-cut-plan.html?_r=0

Mr. Mnuchin said this week that the tax changes would spur the economy to grow by 3 percent, which he said would pay for the vast cuts in federal revenues.

Beyond cutting the tax rate to 15 percent for large corporations, which now pay a rate of 35 percent, Mr. Trump also wants that rate for a broad range of firms known as pass-through entities — including hedge funds, real estate concerns like Mr. Trump's and large partnerships — that currently pay taxes at individual rates, which top off at 39.6 percent.

Ah, the Martinus school of tax policy. That's what he always boasted about.

Actually--putting a 15% tax on pass through entities would probably be an effective tax increase. Right now the entities pay 0% - the NY Times is wrong.

Unless the intention is that the entities will pay 15% and the income will be tax exempt on personal returns. In which the NY Times is still wrong, and the policy proposal is really really dumb.

[Valmy]

The whole 'lower taxes and then the immediate jump in the economy will make up the difference' thing has failed twice already. I am fine if they want to cut taxes, but they need to cut expenses first which they do not seem very interested in or capable of doing.

[alfred russel]

The whole 'lower taxes and then the immediate jump in the economy will make up the difference' thing has failed twice already. I am fine if they want to cut taxes, but they need to cut expenses first which they do not seem very interested in or capable of doing.

I think the corporate tax cut idea is a very good one if offset with increased personal taxes so we stay roughly revenue neutral. That of course doesn't seem to be in the cards.

[The Minsky Moment]

The pass through reduction makes no sense.  The whole point of a pass through is that there is no tax at the entity level - that's what a "pass through" means.  So basically it would mean people could cut their taxes more than half by just forming a partnership or an LLC.

(BTW personally I would benefit A LOT from this)

[Solmyr]

Rick Perry Says U.S. Should 'Renegotiate' Paris Climate Agreement — But Not Withdraw

Did Rick Perry suddenly decide to accept that climate change is real?

[frunk]

The pass through reduction makes no sense.  The whole point of a pass through is that there is no tax at the entity level - that's what a "pass through" means.  So basically it would mean people could cut their taxes more than half by just forming a partnership or an LLC.

(BTW personally I would benefit A LOT from this)

Not only are all corporations people, now everybody is a corporation.

[Zanza]

Not only are all corporations people, now everybody is a corporation.

Maybe they can introduce limited liability to family law so that when Melania gets fed up with Donald, he doesn't have to pay.

[Zoupa]

The WH cable is more in keeping with diplomatic protocol.  Trudeau is being the dick on this one.

How is he possibly being a dick?