Wednesday, June 21, 2017

Here Comes the Top Secret Tax Overhaul (That Most Congressmen Won't Even Get to See in Advance)

The White House plans to privately negotiate a massive overhaul of the tax system with Republican leaders in Congress, possibly giving rank-and-file members little if any say over the finished product, a top aide to President Donald Trump said Tuesday, reports ABC News.

This will result in high-level cronyism. Only the elite of the elite will get to play.

The cover story Gary Cohn, Trump's top economic aide, is using is that the administration doesn't want to engage in prolonged negotiations after the package is made public this fall. Cohn said the goal is to release the overhaul in the first two weeks of September.

"We don't want to be negotiating the tax bill on the floor," Cohn said at a meeting of technology executives.

It is going to be a total scam for the benefit of the elite.

ABC News points out (my emphasis)
Congressional Republicans are planning to pass a tax package under a procedure in which they need only a simple majority in the Senate — preventing Democrats from blocking it. Under the procedure, the tax package cannot add to long-term budget deficits.
That means for every tax cut, there has to be a tax increase, at least over the long term.


  1. Love the bold part. Awesome.

  2. Bet that the non-additions to the long-term budget will be theoretical numbers like we've seen from Trump before. My favorite was the $1 trillion infrastructure investment that he promised. It turned out to be $200 billion in tax cuts that would "incentivize" $800 billion in private investment. Don't hold your breath.