stock market will help him win re-election. Trump has tested out the line this month at a fundraiser, a campaign rally, and in a White House meeting, predicting that the rising U.S. President Donald Trump is trying out a new campaign slogan: “How’s your 401(k) doing?” The answer for more than half of Americans is that they don’t have one. Susan Collins has an interesting take on the backlash to her “yes” vote And then she goes home and sleeps like a baby, because this is the job she was put on earth to do. Finally, she mentioned that on the business side, i.e., the place from which the vast majority of Trump’s wealth comes, there’s a slight chance he would benefit from a bill that taxes income from pass-through businesses at 25 percent and is particularly kind to real-estate investors. Then she threw in a “likely,” on the off chance that he doesn’t actually take a big hit. First, Sanders was careful to note that the president would only be hit in some ways, such as on state and local deductions. “But on the business side he could benefit.”įor aspiring press secretaries, Tuesday was a chance to watch the master at work. “In some ways, particularly on the personal side, the president will likely take a big hit,” Sanders told reporters. On Tuesday, though, White House press secretary Sarah Huckabee Sanders found a clever new way to spin reality vis-à-vis what the bill would do for the boss’s bottom line. No one actually believed that was the case, of course, but Trump and his minders have stuck steadfastly to his version of the truth. “My accountant called me and said, ‘You're going to get killed in this bill,’ ” Trump told lawmakers from South Korea on a call, after which Gary Cohn reportedly faked a bad connection to get him off the line. In the two months since Republicans unveiled their tax plans, Donald Trump has claimed at least half a dozen times that the legislation would be extremely bad for him. After this bill passes, he’ll move on to gutting the social safety net because, as he’ll explain to lazy Americans, tax cuts don’t grow on trees. I got to say, if people are out there on TV telling mistruths, disguising the facts of this thing, that’s going to make it unpopular.” In fact, what makes the bill unpopular is what it does according to a recent survey by Democratic advocacy group Priorities U.S.A., in a poll of more than 12,000 voters across 20 House districts, Republican approval ratings fell an average of three points after they were “ exposed to ads about the tax plan.“ That may have something to do with the fact that the bill overwhelmingly benefits corporations and the super, ultra rich or that it does wonders for real-estate investors specifically or that in 2027, half of all Americans can expect to pay more in taxes than they are now and that, coincidentally, many of those people “ tend to be lower and middle-class folks.” For Hayek’s sake, not even Fox Business anchor and frequent Fox New contributor Trish Regan is buying what Ryan and his colleagues are selling.īut none of this matters to Ryan, who came to Washington to cut taxes on plutocrats, and who is not going to let this moment slip away. Shortly before today’s vote, Ryan, who inherited the bulk of his wealth from his wife, was asked whether he had “any concerns” about the fact that the bill is “deeply unpopular.” His response: “No concerns whatsoever. The House Speaker is so amped about the prospect of passing tax “reform” that in honor of today’s vote-which, oops, they’ll have to redo on Wednesday-he apparently had an intern put together a sizzle reel highlighting his many urgent calls for tax cuts spanning nearly 20 years in office: But though the eventual passage of the bill will undoubtedly thrill the ex-beauty pageant owner, corporate America, and the very wealthy whom it was designed to disproportionally benefit, the day will truly belong to one man: Paul Ryan, who has been dreaming about this historic transfer of wealth since he developed what would become a lifelong, unremitting crush on Ayn Rand. There, finally free from the shackles of having to lie about the effects of the legislation on his net worth, he’ll presumably brag to paying members about making out like a bandit. Shortly before 2:30 this afternoon, House Republicans passed the Tax Cuts and Jobs Act if all goes according to plan, the bill will be on President Donald Trump’s desk by midweek, leaving him plenty of time to sign it before Christmas at Mar-a-Lago.
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