AP: Trump scraps tax reform plan and is going back to drawing board.

[Hindsight was 2020]

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Who knew tax reform would be so complicated https://mobile.twitter.com/JesseRodriguez/status/851440934277574656

[Sprouts Farmers Market ✘]

Who knew tax reform would be so complicated

Certainly no one on Atlas. I don't know why they don't just pick a few numbers and apply them! Some website said it works!



Oh, and close the loopholes!

[The_Doctor]

Context: as a candidate Trump expressed openness for higher taxes for the rich as part of a deal, presumably with Senate Democrats. That said It's unlikely because it would cause a revolt among Congressional Republicans.

[Matty]

Republicans cant even govern successfully on like the 1 issue they have

what?? There hasn't even been a plan, yet.

Do you guys realize it only April?

[OSR stands with Israel]

Republicans cant even govern successfully on like the 1 issue they have

The 2001 tax cuts passed in June

[Mr. Morden]

Republicans cant even govern successfully on like the 1 issue they have

Weren't you predicting just a few weeks ago that Congress would cave into Trump on health reform?

Either Congress is going to pass whatever Trump gives them, or they can't pass anything.  Those are the two poles that the forum seems to oscillate between.

See: https://uselectionatlas.org/FORUM/index.php?;topic=261248.0

[Santander]

Abolish the IRS.

[The Arizonan]

Abolish the IRS.

What's going to replace it then?

[The_Doctor]

Tax reform of some kind will pass because the Republican Congress needs a win. Tax reform or cuts is something they've succeeded at it in general.

If it honest to God fails this Congress is beyond incompetent and Trumpy is a Carter figure. (Well he will be an incompetent one term President but that's probably not related to failing to cut taxes).

[Santander]

Abolish the IRS.

What's going to replace it then?

Something terrific.

[Dr. Arch]

Abolish the IRS.

What's going to replace it then?

Something terrific.

This response is bad even at a Trump level.

[Ebsy]

Abolishing the IRS would break the rules of reconciliation so. Also Social Security cannot be touched, though I am not sure about messing with the funding stream as long as it gets as much money as it did before.

[Devout Centrist]

Abolish the IRS.

What's going to replace it then?

Something terrific.

Now that's the crack speaking.

[rob in cal]

  So what would the Bannon factions tax reform look like and what about the Kushner "West Wing Democrats" version look like?

[Mr. Reactionary]

Who knew tax reform would be so complicated

Certainly no one on Atlas. I don't know why they don't just pick a few numbers and apply them! Some website said it works!



Oh, and close the loopholes!

Do you not also fixate on the evil accelerated depreciation for nascar tracks loophole? Or the marginal oil well tax credit? Or the current carry forward loss ratio? Its so easy and fun to talk about the hundreds and hundreds of similar loopholes, its not surprise Dave Camp's bill listing and elimimating them all wasnt ever voted on.

[🐒Gods of Prosperity🔱🐲💸]

honestly kinda impressed that Trump had his own plan at all.

[Ronnie]

honestly kinda impressed that Trump had his own plan at all.

It might have just been the one he had on his campaign website.

[Technocracy Timmy]

Tax reform of some kind will pass because the Republican Congress needs a win. Tax reform or cuts is something they've succeeded at it in general.

If it honest to God fails this Congress is beyond incompetent and Trumpy is a Carter figure. (Well he will be an incompetent one term President but that's probably not related to failing to cut taxes).

If Trump becomes a Carter figure could you see your timeline playing out faster than expected with 2020 being the realignment year?

[ProudModerate2]

Abolish the IRS.

What's going to replace it then?

Something terrific.

This response is bad even at a Trump level.

What do you expect .... it's Santander.

[The_Doctor]

Tax reform of some kind will pass because the Republican Congress needs a win. Tax reform or cuts is something they've succeeded at it in general.

If it honest to God fails this Congress is beyond incompetent and Trumpy is a Carter figure. (Well he will be an incompetent one term President but that's probably not related to failing to cut taxes).

If Trump becomes a Carter figure could you see your timeline playing out faster than expected with 2020 being the realignment year?

Not necessarily. A crisis has to happen.

P.S. Steve Bannon is a fan of the “Fourth Turning” by Howe and Strauss.

[Shadows]

It obviously was never going to be the 10T odd 10 year tax cuts which would have blown up the debt. The cuts will be decent but nowhere near as much & they have to eliminate quite a few deductions & loopholes to balance atleast most of the revenue loss, if not all.

And the deductions & loopholes should go in a way such that most of it doesn't go from the middle class who are getting a small tax cut anyways because that will be pretty unpopular & will Dems a way. So some hard decisions have to be taken.

Tax reform will take time. During Bush days, he inherited a deficit & his tax cuts were much smaller. It will be something on thise lines but will be harder to implement because of the deficit now!