Top officials in President Donald Trump's Cabinet are heading to Capitol Hill to defend his plans to cut domestic programs and parry Democratic criticism of his tax plans. Trump on Tuesday released a 10-year budget plan containing jarring,...Show More Summary
The main beneficiaries of President Donald Trump's 2018 budget proposal are the people who already have too much, the one percent. Here's how tax cuts go for them, as reported in Yahoo! News: ”According to calculations from the Center for...
Trump's presidency is imperiled. Pence's credibility is in tatters. Ryan's loyalty is to tax cuts. America has become completely rudderless.
Top officials in President Donald Trump's Cabinet are heading to Capitol Hill to defend his plans to cut domestic programs and parry Democratic criticism of his tax proposals. Budget Director … Click to Continue »
That is the topic of my latest Bloomberg column, here is one excerpt: What’s also striking is that, if the Trump budget can work at all, the spending cuts are probably not needed. It would suffice to cut taxes only, and allow the economy to grow out of an even-greater budget deficit. Show More Summary
The Latest on the Minnesota Legislature's special session to finish its budget (all times local): 8:45 p.m. Lawmakers are finally starting to release pieces of their plans to complete a … Click to Continue »
The White House is projecting faster growth as a consequence of tax cuts. But it does not project the cost of those tax cuts, that is, the loss in tax revenue.
The White House made a basic mathematical error when trying to prove that massive tax cuts would pay for themselves and then some, according to a leading economist who advised former President Barack Obama. In a column in the Washington...Show More Summary
Republican politicians are an interesting breed of liars…. Politicians are supposed to explain to the voting public why their complicated, detailed policies are worth supporting and good for the country as a whole, or at least their constituents. Show More Summary
President Trump’s budget hews to a longtime Republican premise, but past efforts to enlarge the pie even while slicing it have fallen short of hopes.
Economists say the document doesn’t account for the costs of tax cuts and its other policy proposals.
President Trump’s budget unveiled today has received a storm of criticism as the administration proposes massive spending reductions while planning tax cuts that would most benefit the wealthy. But a larger question has emerged: Could all of this fiscal pain fail miserably in its goal of ridding the U.S. of a federal budget deficit? One [...]Show More Summary
In a plan entitled "The New Foundation for American Greatness," the Trump administration released their full budget proposal on Tuesday morning, which outlined an extreme schedule of tax cuts for the next 10 years amounting to a total...Show More Summary
It no longer appears likely that Apple's overseas earnings can be repatriated back to the United States at more favorable tax rates this year, as plans for tax reform--including deep cuts to health care spending aimed at enabling a huge tax cut--have been delayed. Show More Summary
Gov. Doug Ducey's final action on 33 remaining bills included signing a proposal exempting the sale of U.S. gold coins from state capital gains taxes despite vetoing two previous versions … Click to Continue »
Nebraska Gov. Pete Ricketts will pursue a package of income and property tax cuts next year even though his plan stalled in the contentious legislative session that ended Tuesday. Ricketts … Click to Continue »
TIME Magazine reports: President Trump’s budget includes simple accounting error that adds up to a $2 trillion oversight. Under the proposed budget released Tuesday, the Trump Administration’s proposed tax cuts would boost economic growth enough to pay for $1.3 trillion in spending by 2027. Show More Summary
Jon Chait says the Trump White House has made a $2 trillion mistake: Trump has promised to enact “the biggest tax cut in history.” Trump’s administration has insisted, however, that the largest tax cut in history will not reduce revenue,...Show More Summary
The draconian spending cuts will never pass Congress. But Trump is preparing excuses in advance for when GOP tax cuts balloon the deficit.
Steve Mnuchin has said that he is going to balance the budget with Trump's tax cut for the rich with a growth number starting with a "3". Steve Mnuchin has not looked at an honest spreadsheet...