JackLuis
Literotica Guru
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- Sep 21, 2008
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Tax reform: Why Trump and the Republicans will fail
Trump is set for Another Fail. Oh shit!
Now that the health care effort appears dead, everyone in Washington is hot for tax reform. “ It is time to unleash the full potential of the American economy by creating a tax code that actually works for the middle class,” said House Speaker Paul Ryan on Monday. Treasury Secretary Steve Mnuchin echoed the call: “This is about creating a fair tax system that’s good for the average, middle class person,” he said, pledging that once the administration and Congress are done, nearly every taxpayer would be able to fill out tax forms the size of a postcard. For their part, 45 Democratic senators signed a letter offering to work with the GOP on tax reform, provided it didn’t hurt the middle class.
In July, “the big six”—the chairs of the Senate and House finance and budget committees along with Mnuchin and Gary Cohn, the director of the National Economic Council at the White House—signed a statement of joint principles for moving ahead with tax reform, but it didn’t list a single deduction to be scrapped. It was akin to a call for losing weight without a diet.
Sweeping tax reform is unlikely to pass. Why? It’s among the most difficult tasks that Congress can do, because it requires taking on myriad special interests at once and in a way that’s immediately recognizable to their bottom lines. It’s as complicated as health care and more threatening to business and family finances, which is why the last time it happened was 1986—and there have been several attempts since then.
