04/12/2017

White House Walks Back Timing, Size Of Tax Cuts; Puts Stock Rally In Jeopardy [Watch]

Brian Schwartz, Charlie Gasparino, Fox Business

The Trump White House is conducting a “listening” tour on how to best cut taxes as it concedes it no longer has a set deadline to produce its tax-cut plan, a move that could curtail the current rally in stock prices, FOX Business has learned.

It’s unclear who the White House is listening to as it cobbles together a proposal to cut both corporate and individual taxes as Trump promised during the 2016 presidential campaign. But White House aides acknowledge there is now indecision about the size, scope and timing of any tax-cut plan, and that the president is listening to a variety of people in determining a new plan.

White House Press Secretary Sean Spicer says the president is even considering other ideas that might deviate from his stated intentions during the campaign to cut the corporate tax rate to 15 percent from its current level of 35 percent, and to slash the top individual rate to 33 percent from 39.6 percent.

“There’s a whole listening part that goes along with it,” Spicer told FOX Business. “There’s a whole engagement aspect to this…We’re at the beginning of the process. We’re not in a position to say what’s in and what’s out, and it’s a little premature to discuss that at this point.”

Read full article



You May Also Like:

Can Trump Make America Grow Again? The Signs Are Hopeful Andy Puzder, Wall Street Journal

Even With President Trump’s Reductions, Welfare Spending Is Still Growing Oren Cass, City Journal

Who Will Stand Up For Civil Liberties? Alan M. Dershowitz, RealClearPolitics

Pop Singer Ariana Grande Offers To Pay For Funerals Of Manchester Bombing Victims Warner Todd Huston, Young Conservatives

First They Tore Down Confederate Monuments. Next They’ll Come For The Founders. Matt Walsh, The Blaze

That Pope ‘Frown’? More Fake News From Fake Media Nate Madden, Conservative Review

Teachers Get Into Brawl In Front Of Horrified Students [Watch] Lia Eustachewich, New York Post

Rasmussen Reports: President Trump’s Approval Ratings Hit 48% [Watch] Rasmussen Reports

Goodbye ISIS, Hello Losers Scott Adams’ Blog

Wasserman Schultz Threatened Police Chief For Gathering Evidence On Her IT Staffer’s Alleged Crimes [Watch] Luke Rosiak, Daily Caller

Directors Check Actors’ Social Media Before Casting To Make Sure They Don’t Support Trump Christian Toto, Hollywood in Toto

TV Actor Discovers His Inner 'Ron Swanson' After Trying To Start A Business Brittany Hunter, Foundation for Economic Education

Farmer Faces $2.8 Million Fine For Plowing His Own Field Elizabeth Harrington, Washington Free Beacon

Report: Premiums Doubled Once Obamacare Took Full Effect Robert Donachie, Daily Signal

The Free Market Is Diversity’s Best Friend Walter E. Williams, Townhall

Leftists Destroy Female Business Owners' Burrito Stand Because They're White Amanda Prestigiacomo, Daily Wire

The Dark Side Of Paid Parental Leave James Pethokoukis, American Enterprise Institute

For More go to the Home Page >>>

Search

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

In Search Of History

Cambodia's Deadly Experiment

In the 1950s, students started gathering in Paris. They were reading Karl Marx. They were forming book clubs. They were trying to come up with a better version of society. One that moved away from the division of labor. One that moved away from the capitalism in the big cities that they so despised. ... One of those students would change his name to Pol Pot. He and his colleagues formed a new political party, a takeover in Cambodia. They called themsevles the Khmer Rouge. ... Under Pol Pot and the Khmer Rouge, one out of four people in that country died in less than four years. 

-- Matt Kibbe,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.4%
    FreeMarket Central Shadow Stats: 22.1%
  • Inflation:
    FreeMarket Central April Year-to-Year: 2.20% (CPI-U*)
    FreeMarket Central Shadow Stats: 10.0%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]