jimnyc
12-14-2017, 12:49 PM
Must be a good win if even CNN is listing it as a "win", although not very upbeat about it being some sort of win. Trump on the other hand is a little more upbeat about the victory.
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Tax win will be huge for Trump, but don't bank on political windfall
(CNN)In decades to come, people will talk about the Trump tax cuts as they now reminisce over the Reagan, Bush and Kennedy giveaways.
Barring a last-minute cataclysm on Capitol Hill, President Donald Trump is set to savor a major tax reform package before Christmas and finally secure an achievement that will live alongside him in history.
But it may not follow that the most sweeping tax cut bill in 30 years will measurably improve the President's tenuous political plight after a turbulent first year in office.
The boom scenario for Trump is that tax reform will supercharge economic growth, juice the already soaring stock market, revive mothballed factories in Trump country and indirectly nurture his political recovery.
All the better for the GOP if that happens before the midterm elections in November.
But it's just as likely that benefits will take years to unfurl, are too small to enrich most Americans and may turn out to be a political loser because they could demonstrably deepen inequality and fan societal resentment.
In that case, a political dividend from tax reform could be limited.
Rest - http://www.cnn.com/2017/12/14/politics/donald-trump-republicans-tax-reform/index.html
Trump: 'We Are Very, Very Close to a Historic Legislative Victory'
(CNSNews.com) - "We're very, very close to a historic legislative victory, the likes of which rarely has this country seen," President Donald Trump said at a lunch-time meeting with Republicans leading the effort on tax reform.
"While the media has focused on the differences between the House and the Senate bills, I can only tell you that we have very, very talented representatives right here. And I think I can say, Orrin, that we're very close. Right?" the president asked Sen. Orrin Hatch (R-Utah), the chairman of the Senate Finance Committee.
"We are," Hatch replied. "We'll get it done."
Trump said it's "very important" for the vote to take place next week, before Christmas. Democrats are demanding that the vote be delayed until the newly elected senator from Alabama, a Democrat, can vote on (against) the Republican tax bill.
A few hours later, in a speech at the White House, President Trump said he had some "breaking news" from the IRS:
"So I'm excited to announce that, if Congress sends me a bill before Christmas, the IRS -- this is just out; this is breaking news -- has just confirmed that Americans will see lower taxes and bigger paychecks beginning in February, just two short months from now."
In an effort to dispute Democrat claims that the tax cut will benefit only the rich, President Trump was joined by college students, young entrepreneurs, and middle class families, all of whom "will win under our plan," the president said.
One by one, the people standing with Trump thanked him and explained how the anticipated tax cut will benefit them.
A beaming Trump then used some of the hyperbole for which he is famous:
The goal of my administration is for every American to know the dignity of work, the pride of a paycheck and the satisfaction of a job well-done. We want people to love waking up in the morning and going to work just with that incredible enthusiasm that we have in this country. And that's what we're going to be doing, and that's what's going to be happening.
Today, we stand on the verge of a new economic miracle. Our economy has already surged to 3 percent growth -- far ahead of schedule, by the way; far, far ahead -- in each of the last two quarters. And, if we didn't have the hurricanes, we could have hit 4 last quarter; 4, a number that was unthinkable two years ago, when I started the campaign, and even my first month in office. That was an unthinkable number.
And I'll tell you what: It's going to go higher than that.
We've created 2.2 million jobs since the election. Unemployment is at a 17-year low. The unemployment rate in the manufacturing business is the lowest in recorded history. Consumer confidence is a 17-point high (sic). Pensions and retirement accounts are soaring as the stock market hits 85 new record highs since the election.
How are we doing? Are we doing OK? Not bad, right? (Applause)
And if Congress sends me a tax reform, this is only a small beginning to the incredible things that our people will achieve over a very short period of time, and the tremendous heights that we will reach economically and so many other ways in our country.
Every day, as this victory draws closer -- I mean, we are so close right now, so close. In fact, almost -- I don't want to talk about it. Maybe we shouldn't talk about it.
The cynical voices that opposed tax cuts grow smaller and weaker. And the American people grow stronger...
Rest - https://www.cnsnews.com/news/article/susan-jones/trump-we-are-very-very-close-historic-legislative-victory
---
Tax win will be huge for Trump, but don't bank on political windfall
(CNN)In decades to come, people will talk about the Trump tax cuts as they now reminisce over the Reagan, Bush and Kennedy giveaways.
Barring a last-minute cataclysm on Capitol Hill, President Donald Trump is set to savor a major tax reform package before Christmas and finally secure an achievement that will live alongside him in history.
But it may not follow that the most sweeping tax cut bill in 30 years will measurably improve the President's tenuous political plight after a turbulent first year in office.
The boom scenario for Trump is that tax reform will supercharge economic growth, juice the already soaring stock market, revive mothballed factories in Trump country and indirectly nurture his political recovery.
All the better for the GOP if that happens before the midterm elections in November.
But it's just as likely that benefits will take years to unfurl, are too small to enrich most Americans and may turn out to be a political loser because they could demonstrably deepen inequality and fan societal resentment.
In that case, a political dividend from tax reform could be limited.
Rest - http://www.cnn.com/2017/12/14/politics/donald-trump-republicans-tax-reform/index.html
Trump: 'We Are Very, Very Close to a Historic Legislative Victory'
(CNSNews.com) - "We're very, very close to a historic legislative victory, the likes of which rarely has this country seen," President Donald Trump said at a lunch-time meeting with Republicans leading the effort on tax reform.
"While the media has focused on the differences between the House and the Senate bills, I can only tell you that we have very, very talented representatives right here. And I think I can say, Orrin, that we're very close. Right?" the president asked Sen. Orrin Hatch (R-Utah), the chairman of the Senate Finance Committee.
"We are," Hatch replied. "We'll get it done."
Trump said it's "very important" for the vote to take place next week, before Christmas. Democrats are demanding that the vote be delayed until the newly elected senator from Alabama, a Democrat, can vote on (against) the Republican tax bill.
A few hours later, in a speech at the White House, President Trump said he had some "breaking news" from the IRS:
"So I'm excited to announce that, if Congress sends me a bill before Christmas, the IRS -- this is just out; this is breaking news -- has just confirmed that Americans will see lower taxes and bigger paychecks beginning in February, just two short months from now."
In an effort to dispute Democrat claims that the tax cut will benefit only the rich, President Trump was joined by college students, young entrepreneurs, and middle class families, all of whom "will win under our plan," the president said.
One by one, the people standing with Trump thanked him and explained how the anticipated tax cut will benefit them.
A beaming Trump then used some of the hyperbole for which he is famous:
The goal of my administration is for every American to know the dignity of work, the pride of a paycheck and the satisfaction of a job well-done. We want people to love waking up in the morning and going to work just with that incredible enthusiasm that we have in this country. And that's what we're going to be doing, and that's what's going to be happening.
Today, we stand on the verge of a new economic miracle. Our economy has already surged to 3 percent growth -- far ahead of schedule, by the way; far, far ahead -- in each of the last two quarters. And, if we didn't have the hurricanes, we could have hit 4 last quarter; 4, a number that was unthinkable two years ago, when I started the campaign, and even my first month in office. That was an unthinkable number.
And I'll tell you what: It's going to go higher than that.
We've created 2.2 million jobs since the election. Unemployment is at a 17-year low. The unemployment rate in the manufacturing business is the lowest in recorded history. Consumer confidence is a 17-point high (sic). Pensions and retirement accounts are soaring as the stock market hits 85 new record highs since the election.
How are we doing? Are we doing OK? Not bad, right? (Applause)
And if Congress sends me a tax reform, this is only a small beginning to the incredible things that our people will achieve over a very short period of time, and the tremendous heights that we will reach economically and so many other ways in our country.
Every day, as this victory draws closer -- I mean, we are so close right now, so close. In fact, almost -- I don't want to talk about it. Maybe we shouldn't talk about it.
The cynical voices that opposed tax cuts grow smaller and weaker. And the American people grow stronger...
Rest - https://www.cnsnews.com/news/article/susan-jones/trump-we-are-very-very-close-historic-legislative-victory