Donald Trump: Republicans Have Not Explained Tax Bill Well Enough
Donald Trump: Republicans Have Not Explained Tax Bill Well Enough
Trump touts tax cuts with Tax Day trip
17 April, 2019, 10:37
Boos rose from the audience after Trump said "Today is tax day that we're celebrating".
Americans disappointed with their tax returns this year ー the first since the Republican tax cuts went into effect ー would be justified in blaming politicians in Washington for concocting a confusing system, an economist from the conservative Tax Foundation said.
If for any reason you can't get them filed by the deadline there are a few options offered. The typical middle-income taxpayer saw their 2018 taxes decrease by only about $1,000, or roughly $20 a week, according to an analysis from the nonpartisan Tax Policy Center.
While the president seeks to leverage Tax Day to highlight his own economic policies, a recent poll found that most Americans don't believe they've directly benefited from the Republican tax bill.
The objective of the visit was to conduct a roundtable discussion on the economy and tax cuts passed in 2017. In October, a New York Times investigation found that for years Trump engaged in schemes created to avoid taxes - some of which might have been illegal - as he became wealthy from his father's real estate empire. The plan would be funded by $650 billion in federal funding, a return to the Obama-era "Build America Bonds", and a series of corporate tax reforms including raising the tax rate on corporations to 25 percent from the current 21 percent. In fact, no Republican presidential candidate has won Minnesota since Nixon.
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Trump says incorrectly that he enacted the largest package of tax cuts in history.
"Democrats have taken parts of the tax law that are base-broadening ー and that may increase taxes for a small minority of taxpayers ー and made that central to the message", Pomerleau said.
"Frankly, I don't think Congress, particularly not this group of congressmen and women, are smart enough to look through the thousands of pages that I would assume that President Trump's taxes will be". The average tax break for the top 1 percent was $62,000 in 2018, according to Time.
Further muddling the picture was the federal deduction for state and local taxes being capped at $10,000, which has mattered in high-tax states such as Minnesota, California and NY, among others. USA taxpayers across the country are rushing to meet a midnight Monday deadline for filing their income tax returns with the IRS.
Along with discussions on taxes, trade and the economy, Trump also expressed his shock and sadness for the massive fire that was devastating the Notre Dame Cathedral in Paris - calling the blaze something "that is beyond country, it's beyond everything".
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