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PRESIDENT TRUMP SIGNS INTO LAW the TAX REFORM – TAX CUTS – 12/22/2017 – The White House – Oval Office -Merry Christmas America!

TODAY IS A HISTORIC DAY IN AMERICA, President Donald J. Trump and the Republicans finally got it done.  There are a lot of voices on the left talking negatively about the Tax Reform without knowing just how much has gone into getting this done.  How much more money American families will see in their pay beginning February 2018 and all the other benefits as explained below.  FOLLOWING are President Trump’s comments before signing:

  • $3.2 TRILLION DOLLARS IN TAX CUTS FOR AMERICAN FAMILIES, THE DOUBLING OF THE STANDARD DEDUCTION AND THE DOUBLING OF THE CHILD TAX CREDIT.
  • FAMILY EARNING $75,000 will see an income tax cut of more Than $2,000, slashing their tax bill in half.
  • AT&T and Boeing, St. Claire and Well Fargo, Comcast (Owns NBC), they all have made tremendous contributions to their employees and spending money in the United States, meaning jobs! Many other companies also 3 more companies JUST came on board to give their employees bonuses and will make infrastructure investments in America.
  • Bob Kraft, who owns the New England Patriots, he is also in the paper business. He said that based on this tax bill he will buy a big plant in North Carolina and he is going to build a tremendous paper products plant.  POTUS has received many phone calls.
  • The Corporate tax rate will be lowered from 35% to 21%. That means that more products will be made in the USA and many companies have started back.
  • Family Farmers and small business owners who lost their business because of the Estate Tax, most of them won’t have anything to pay.  You can leave your business and farms to your families.  They will keep their farms and businesses in the family.
  • Business will be able to deduct 100% of their capital investment the year that investment is made, that is called EXPENSING! It will be one of the biggest things in this bill.
  • Historic small business tax cuts are made easier for business owners:  people are hiring
  • Will bring back around $4 trillion from overseas.  It is going to be brought back right under the code.  Republicans and Democrats wanted this done for years.  It is done!
  • Bottom line:  biggest tax cut and reform. Biggest than President Regan’s’.
  • ANWAR (ARCTIC NATIONAL WILDLIFE REFUGE) is open for drilling, been trying to get that for 40 years.
  • The individual mandate on Obama care is removed.  It leads to the end of Obamacare and WE’LL COME UP WITH SOMETHING BETTER!  American’s can’t pay for something to NOT HAVE HEALTHCARE!
  • LEGISLATIVE APPROVALS:  POTUS said 88 LEGISLATIVE APPROVALS, which is number one in the history of our country! President Harry Truman is second. POTUS should get credit for this.
  • PRESIDENT TRUMP:  TAX BILL IS HAVING GREATER IMPACT THAN WHAT I THOUGHT!
  • PRESIDENT TRUMP SAID:  MITCH McCONNELL, PAUL RYAN WORKED REALLY HARD.  ORIN HATCH, HARD WORKING, GREAT SPEECH.  KEVIN BRADY DIDN’T SLEEP FOR MONTHS.  MIKE ENSIGN, DIANE BLACK, ROB PORTMAN, PAT TOOMEY, TIM SCOTT, JOHN THUNE.  The Senators were incredible! THE WHOLE REPUBLICAN SENATE WORKED SO HARD!  DEMOCRATS WANT TO RAISE YOUR taxes AND spend money foolishly.
  • We are taking care of people.
  • POTUS said he will be working in Florida during Christmas.
  • In the Middle East, We have taken back virtually all of the land, the caliphate.  We are making tremendous progress.
  • PRESIDENT TRUMP:  WE HAVE MORE LEGISLATIVE VICTORIES THAN ANY OTHER PRESIDENCY.
  • THIS BILL IS SELLING ITSELF.  YOU WILL SEE FEBRUARY 1, when they open their paychecks.
  • Corporations will be giving billions and billions to their employees.
  • President Trump Signed the Continuing Resolution to keep the government working.  He mentioned missile defense – the military has been suffering – $4 billion in missile defense and $700 Million for other military equipment.
  • Infrastructure can be done in a bipartisan way, giving Democrats a seat at the table!
  • PRESIDENT TRUMP IS WISHING EVERYONE A “MERRY CHRISTMAS”!

I am proud of this President and will continue to support his work for all Americans. We should not be divided.  We are One Nation Under God!  Merry Christmas America!

House GOP Leadership Holds Press Conference – 5/17/2017

The House GOP Leadership held a press conference today to speak about their plans for America.  

https://m.youtube.com/watch?v=YvHoxh3HZmU&feature=youtu.be

 

President Trump Proposed a Massive Tax Cut. Here’s What You Need to Know.

We have a once-in-a-generation opportunity to do something big. President Trump has made tax reform a priority, and we have a Republican Congress that wants to get it done. This is something that Democrats should support too because it’s good for the American people.

The President is going to seize this opportunity by leading the most significant tax reform legislation since 1986 – and one of the biggest tax cuts in American history.

The President has focused on three things since his campaign: job creation, economic growth, and helping low and middle-income families who have been left behind by this economy. He understands that there are a lot of people in this country that feel like they work hard and still can’t get ahead. They are sick of turning their paychecks over to Washington and having no idea how their tax dollars are spent. They are frustrated by a tax code that is so complicated that they can’t even do their own taxes.

That’s why tax reform is such a big priority for this President.  He cares about making the economy work better for the American people.

We are going to cut taxes for businesses to make them competitive, and we are going to cut taxes for the American people – especially low and middle-income families.

In 1935, we had a one-page tax form consisting of 34 lines and two pages of instructions.  Today, the basic 1040 form has 79 lines and 211 pages of instructions. Instead of a single tax form, the IRS now has 199 tax forms on the individual side of the tax code alone. Taxpayers spend nearly 7 billion hours complying with the tax code each year, and nearly 90% of taxpayers need help filing their taxes.

We are going to cut taxes and simplify the tax code by taking the current 7 tax brackets we have today and reducing them to only three brackets: 10 percent, 25 percent, and 35 percent.

We are going to double the standard deduction so that a married couple won’t pay any taxes on the first $24,000 of income they earn.  So in essence, we are creating a 0 percent tax rate for the first $24,000 that a couple earns.

The larger standard deduction also leads to simplification because far fewer taxpayers will need to itemize, which means their tax form can go back to that one simple page.

Families in this country will also benefit from tax relief to help them with child and dependent care expenses.

We are going to repeal the Alternative Minimum Tax (AMT). The AMT creates significant complications and burdens by requiring taxpayers to do their taxes twice to see which is higher. That makes no sense; we should have one simple tax code.

Job creation and economic growth is the top priority for this Administration, and nothing drives economic growth like capital investment. Therefore, we are going to return the top tax rate on capital gains and dividends to 20 percent by repealing the harmful 3.8 percent Obamacare tax. That tax has been a direct hit on investment income and small business owners. 

We are going to repeal the death tax. The threat of being hit by the death tax leads small business owners and farmers in this country to waste countless hours and resources on complicated estate planning to make sure their children aren’t hit with a huge tax when they die. No one wants their children to have to sell the family business to pay an unfair tax.

We are going to eliminate most of the tax breaks that mainly benefit high-income individuals.  Home ownership, charitable giving, and retirement savings will be protected – but other tax benefits will be eliminated.

This is not going to be easy. Doing big things never is. But one thing is for certain: I would not bet against this President.  He will get this done for the American people.

Gary Cohn is the chief economic advisor to President Donald J. Trump and Director of the National Economic Council

 

At the end of the conference, the GOP answered questions.  The most important one is the Democrats unproven mantra about RUSSIA which is being used as a cover to protect Hillary Clinton, the DNC, the Democrats and the mysterious murder of the DNC operative SETH RICH.