This is a president who wants to get things done. President Trump plans to propose massive tax cuts for small and large businesses biggest in the history of the United States.
Mnuchin said the administration wants to “do the whole thing,” and not pursue tax reform piece by piece. Amid concerns that such sweeping tax cuts would significantly reduce revenue for the government, he suggested economic growth will help pay for the plan.
CHANGING From 7 Tax Brackets To 3 Tax Brackets
REDUCING Tax Brackets: 10%, 25%, 35% Brackets
DOUBLE The Standard Deductions, doubling the tax deductions, Married Couples GET $24,000 that a couple earns or $0.0 tax rate for first $24,000.
FAR Fewer tax payers will need to itemize – tax forms can go back to 1 simple page
Families will benefit from tax relief to help with Child Independent Healthcare Expenses
Repeal the Alternative Minimum Tax (AMT), people won’t have to do taxes twice to see which return is higher, we will HAVE one simple tax code.
We are going to Return the top Capital Gains Rate and Dividend Rate to 20% – repealing the harmful Obamacare tax of 3.8%.
We are going to repeal the Death Tax
We are going to Eliminate most of the tax breaks to high income individuals (Home ownership, charitable giving and retirement savings will be protected) others will be eliminated.
I WOULD NEVER EVER BET AGAINST THIS PRESIDENT, HE IS GOING TO GET IT DONE FOR THE PEOPLE. National Economic Director Gary Cohn
“This is going to be the biggest tax cut and the largest tax reform in the history of our country,” Mnuchin said.
MASSIVE TAX CUT FOR SMALL, MEDIUM AND LARGE BUSINESSES, ALL WILL BE ELIGIBLE.
THIS WILL BE A MASSIVE TAX REFORM AND SIMPLIFICATION
WE WILL LOWER BUSINESS TAX RATES TO 15%
IT WILL BE A TERRITORIAL SYSTEM
WE WILL BE HOLDING BUSINESS LISTENING SESSIONS
THE PRESIDENT’S OBJECTIVE IS CREATING ECONOMIC GROWTH, we believe we can get back to 3% GDP, or higher.
The overall plan is a Massive tax cut and tax reform. Regulatory relief and renegotiating trade deals WILL unlock economic growth in this country.
“We want to deliver a middle-income tax cut, want to simplify personal taxes and want to make business more “competitive.” They are not on a level playing field and that’s why we have trillions of dollars of cash sitting off shore and that why we have jobs being moved out of this country. We are determined to make U.S. business competitive and that’s big business and small business and we are listening to what people have to say and we are going to incorporate it into the plan.”
Mnuchin said Wednesday morning that the House, Senate and administration are all “on the same page” and called tax reform a “major priority.” The administration is also looking at a big increase in the standard deduction.
The administration is holding listening sessions and are running enormous amounts of data right now. This is a broad brush overview of the entire plan.
Family of 4 will get a tax cut – THE HOUSE LEADERSHIP is in very robust talks on those details.
WHAT THIS IS ABOUT IS CREATING JOBS AND CREATING ECONOMIC GROWTH. MASSIVE TAX CUTS, MASSIVE TAX REFORM, SIMPLIFYING THE SYSTEM IS WHAT WE ARE GOING TO DO. Secretary Mnuchin
The party that brought you slavery, the Ku Klux Klan, Jim Crow laws, illegal immigration, sanctuary cities, violent late-term abortions, Obamacare, ANTIFA, sanctuary cities, the illegal funding of the refugee program from non-Christian countries together with the UN, gangs, Obama, Soros, Clinton, are now blocking funding for the Wall to Protect your families. Did I leave anything out?
Led by MINORITY LEADER Nancy Pelosi whose entire life’s aim is to block anything decent, moral, legal, proper, godly, is in charge of trying to deconstruct your dreams of a wall to protect America. If this 45th President cannot get the wall built, we will never have peace in America again. It might return to the old wild, wild West, when we had to take care of the problems ourselves. If there is no wall, there shall be law and order one way or the other, count on it.
The democrats are fighting President Trump on everything just and proper that he is trying to do to improve America. Today, a 9th circuit federal court blocked President Trump’s Order that would defund sanctuary cities.
But no matter how bad the democrats try to make things, a new development suggests that the government shutdown may be avoided. The Democrats have gone beyond demagoguing whatever President Trump puts on the table. The most frustrating thing to see is that the Republicans are not really rallying to support President Trump’s plans? Why?
Now, from Kellyanne Conway’s perspective, she states that Congress has been working hard during recess on Healthcare and that Tax Reform is being worked on at a fast pace. The White House states that “Despite historic Democrat obstructionism, President Trump has worked with Congress to pass more legislation in his first 100 days than any President since Truman. President Trump has worked with Congress to enact 28 laws during the first 100 days of his Administration.”
President Trump will simplify taxes and cut the corporate tax rate down to 15%, and will change the tax brackets from 7 to 3. Tax cuts work, simplification works. The American people are going to have to let their congress people know that they want this plan and they are going to have to put on pressure on Republicans so that he can pass it on the Senate and the House. According to Herman Cain on the Hannity show tonight, 4/25/2017, this will help President Trump get this thing through.
President Trump and his Team will continue to achieve and strive to do better every day, no matter what obstacles the Democrats put in his way. We need to support, pray and love this President. He is giving his all for America and the world.
Maybe we should all fund The Wall with our own small donations so that President Trump can protect America from Foreign and Domestic Terrorism and for the future when the Democrats get control of the House and Senate.
And, as I write this post to share with you my dear readers, with lack of sleep since June 2015, working on the campaign and now on this blog, I have come to realize one very important thing. I sleep less hours but I feel safer, a bit happier and at peace that God has kindly granted our prayers. He has given us the greatest president in the history of America. A man of conviction, a man that believes in GOD, a great family man, husband and President. Thank you Lord for giving us President Trump.