Tag: Tax Reform

Live Right Now – President Trump Hosts a Roundtable Discussion on Tax Reform — 6/23/2018

 

 

 

 

 

 

Larry Kudlow: “Trump Is Presiding Over Extraordinary Growth. G-7 Leaders Should Notice.”

Issued on:

Trump is presiding over extraordinary growth. G-7 leaders should notice.
By National Economic Council Director Larry Kudlow
The Washington Post
June 7, 2018

President Trump travels to Canada to attend his second Group of Seven summit as the leader not just of the largest and fastest-growing ­G-7 economy in the world but also as the most important pro-growth reformer of our times.

Thanks to the president’s leadership, America is entering a new era of economic growth and prosperity that promises to be larger and longer than we have seen in decades. The remarkably strong U.S. economy holds some key lessons for other economically advanced democracies.

[O]ur friends and foes alike should recognize that President Trump has been remarkably faithful in keeping his campaign promises. From massive tax cuts to historic regulatory reduction to forcefully challenging one-sided international agreements, he has done exactly what he said he would do. There’s a simple lesson in President Trump’s record of achievement: Believe him.

Nowhere is this lesson clearer than when it comes to President Trump’s passion as a trade reformer. President Trump supports a vision of free trade that is fair and reciprocal. As a pro-growth reformer, the president understands that fair and reciprocal trade can knock down barriers, open up export markets and increase investment, which is the path to lasting economic growth.

But this vision has been thwarted in recent decades by a lack of reciprocity, along with unfair and often illegal trading practices, including massive intellectual property theft. Country after country has been putting our global trading system at risk by raising tariffs and non-tariff barriers, protecting sectors from automobiles to agriculture. So do not blame President Trump for taking decisive actions that protect our American workers.

Past U.S. administrations — both Republican and Democrat — have paid only lip service to dealing with this breakdown. Not President Trump. He has shown courage and decisiveness to prevent harm to the American economy and its workforce.

As a lifelong free trader myself, tariffs have not been my preferred policy tool. But at a time when nations have become so unwilling to play by the rules and restore reciprocity, tariffs are a wake-up call to the dangers of a broken trading system that is increasingly unfree.

Read the full op-ed here.

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PRESIDENT TRUMP HOSTS ROUNDTABLE DISCUSSION TOUTING GOP TAX-REFORM LAW – 4/16/2018 (RIGHT SIDE BROADCASTING)

President Trump hosts a small business roundtable in Miami, Florida, Touting GOP Tax Reform Law!

WHITE HOUSE LIVE LINK – 4/16/2018

 

RIGHT SIDE BROADCASTING LIVE LINK – 4/16/2018

 

President Trump Gives Remarks On Tax Cuts and Jobs Act for American Workers – The White House – 5/12/2018

 

 

 

 

PRESIDENT TRUMP PARTICIPATES IN A ROUNDTABLE DISCUSSION ON TAX CUTS AND TAX REFORMS – The White House and Right Side Broadcasting – 3/14/2018

President Trump discusses Tax Cuts/Reform at a roundtable

 

RIGHT SIDE BROADCASTING – 3/14/2018

 

 

 

THE WHITE HOUSE LIVE FEED – 3/14/2018

 

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!

We are awaiting the GOP Tweet on the Tax Plan -12/15/2017

From Fox Business – Markets Close Higher – Dow, S&P, Nasdaq, Russell 2000 all Up!

Final Tax Bill has been released – There will be seven Brackets

Single side is exactly the same as what the Senate originally Put Out.

The married and filing jointly side, shown below. At 37% dropped from $1Million to $600K

The Corporate Rate will be set at 21% starting next year. There will be a repeal of the Corporate AMT Tax (https://www.forbes.com/sites/kellyphillipserb/2017/03/15/what-exactly-is-the-alternative-minimum-tax-amt/).

For the One-Time Repatriation Rate will be set at 15% for Cash and 8% for the liquid assets

This all started to come together this afternoon for Republicans as Marco Rubio, who had doubts about the child tax credit, said he is a Yes. Bob Corker who had doubts about the deficit said that he would be voting yes as well.

Next week, John McCain (R) and Thad Cochran (R) who both have health issues, are expected to be in the Senate next week to vote.

The expectations are that by Tuesday or Wednesday for all of this to hit the books.

The Corporate Tax Cuts are supposed to take place January 1, 2018 at 21%.

SOURCE: FOX BUSINESS

President Trump Gives Remarks on Tax Reform Start time 3:00 PM EST – 12/12/2017

RIGHT SIDE BROADCASTING LIVE LINK – 12/12/2017

White House Live LINK – 12/12/2017

Live – PRESS SECRETARY SARAH SANDERS – WHITE HOUSE BRIEFING – 11/30/2017 – LIVE LINKS FROM The White House and Right Side Broadcasting

Sarah Sanders will be holding a press briefing from the White House – Watch this Live Stream and you can Replay and Repost – (RSBN)

RIGHT SIDE BROADCASTING LIVE LINK – 11/30/2017

WHITE HOUSE LIVE LINK – 11/30/2017

LIVE: President Trump Gives SPEECH on Tax Reform in Harrisburg, PA LIVE Stream 10/11/17 (RSBN)

 

Wednesday, October 11, 2017: President Donald Trump will give a speech on tax reform in Harrisburg, PA. Watch the live stream and replay of the event here.

 

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President Donald J. Trump’s Weekly Address – The White House – 9/29/2017

 

The President’s Weekly Address is now available to watch on YouTube, Facebook, Twitter, and WH.gov

Transcript:
 
My Fellow Americans, 
 
All American hearts are united with the people of Puerto Rico and the Virgin Islands who have faced terrible devastation in the wake of two catastrophic hurricanes.  We are working night and day in cooperation with territorial and local authorities to assist those in need, to help save and sustain lives, and to begin the long recovery and rebuilding effort. Our commitment to those affected is this: We are with you, we will stay with you, and we will come back stronger than ever.  We are sending tremendous amounts of supplies, tremendous amounts of food and water, and we are sending great people to help.  I know that it’s been devastating.  I know your police force and everything else has been absolutely hurt, but we’re sending people to help, and it’s getting better on a daily basis. 
 
This week, I traveled to Indiana to announce historic tax reform for the American people. It is based on four key ideas. 
 
First, we will cut taxes on all Working American Families.  People will pay a lot less money.  Single individuals will not be taxed on the first $12,000 of income earned.  And a married couple will pay zero taxes on their first $24,000 of income.  After that, taxable income will be subject to just three tax rates—12%, 25% and 35%, it use to be 7%.  We will also expand the child tax credit, eliminate the credit’s marriage penalty, and provide a new $500 tax credit for elder-care and other adult dependents.  This is the real and lasting tax relief that everyday Americans badly need and truly deserve.  This is what working Americans have been after.  
 
Second, our framework will make the tax code simple, fair, and easy to understand.  Under our plan, the vast majority of families will be able to file their taxes on a single sheet of paper. 
 
As part of simplification, we are also getting rid of taxes that threaten to put family businesses and American farmers out of business.  Julie Ellingson is a 4th generation cattle rancher in Bismarck, North Dakota.  Julie and her family’s legacy of hard work should not be taken away when she dies —we will eliminate the Death Tax and keep her American Dream alive.  Most importantly, her family will long remember, and they’ll be working hard for many, many years on their farm.
 
Third, we are going to restore America’s competitive edge so that American businesses and workers can win again.  We will cut the corporate rate below the average of our foreign competitors—and we will reduce the top marginal income tax rate on small and mid-sized businesses to the lowest in more than 80 years.  It’s so important because our companies are leaving our shores and when they leave, they let go of the workers.  And then they make their product and they send it back into our country.  We don’t tax them, we don’t do anything.  Those days are over.  We now have a competitive tax where our companies won’t be leaving.  Believe me, it won’t be happening like it has, it’s going to be a big difference.  
 
Finally, our framework encourages corporations to bring back trillions of dollars in wealth parked overseas, and stops punishing companies for keeping their headquarters in the United States.  That’s actually what’s happening.  Companies that stay in our country are being punished by our tax code.  This will switch our current offshoring model—a tax system that drives jobs to other countries—to a new American Model.  Under this plan, we want our companies to hire and grow in America, to raise wages for American workers, and to help rebuild American cities and towns.
 
This is a once-in-a-generation opportunity to pass tax reform and to restore our jobs, our wealth, and our great American Dreams.  We will be able to dream again and those dreams will be met. 
 
Now it is time—finally– for Congress to deliver.  The problem we have is the democrats don’t want to cut your taxes, they want to actually raise your taxes, and raise them very substantially.  We can’t afford to do that as a country, that’s why our jobs are leaving, that’s why you don’ t have enough left in your pay check.  We want to cut taxes and it’s going to be the biggest tax cut in the history of our Country.  
 
Thank you. God Bless You. And, God Bless America.

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