Trump Promises Major Middle-Class Tax Cut by November: Not Going to Happen

In response to a reporter's question, Trump outlined a "major tax cut" prior to November. It's not going to happen.

When asked, trump repeated the claim and the date.

That video is from October 20. Thus, Trump proposed a tax cut, or at least an outline of one, would happen in 11 days.

Made Up on the Fly

Not Going to Happen

  • For starters, Congress is in recess.
  • Second, top Republicans do not know what he is talking about.
  • Third, Trump claimed the last tax cut was for the middle class. Whether or not you agree with the tax cut, it definitely was not for the middle class.

What's It All About?

Politically speaking, the last tax cuts were a public relations disaster. Trump is smart enough to recognize that.

Inept Democrats failed to take advantage.

Instead, the Democrats wasted time on Kavanaugh and with Elizabeth Warren's ridiculous DNA scam that made her look incredibly foolish.

For every mistake Trump makes, Elizabeth Warren, Nancy Pelosi, or some other totally inept Democrat comes to the rescue.

If you are a Republican, you are laughing out loud.

Mike "Mish" Shedlock

Comments (22)
No. 1-12
JL1
JL1

The previous tax cuts were superb for companies and good for workers but there could have been more tax cuts for lower middle class workers.

Biggest problem with previous tax cuts was that they had a sunset clause for the employee tax cuts.

I hope Republicans make these worker tax cuts permanent.

You are right that democrats have been incompetent in becoming a crazy mob with Kavanaugh and Warren's "Here's proof I am 1/1024th native American" was just an epic fail that shows Warren has NO political eye whatsoever.

JL1
JL1

The tax cuts for companies was a good policy choice by Trump.

However rich individuals had their taxes cut too much in my opinion, they should have had their taxes cut a bit less and more of the tax cut could have been given to middle class and especially lower middle class.

Tengen
Tengen

I'm surprised people still spend energy debating tax cuts. We're so far past the point of no return on debt that we may as well, as some have suggested, abolish taxes altogether. What's the point? The books never need to balance, just have the Fed conjure up whatever is needed. We're already pretty far along this path, we could just drop the pretense of caring about budgets and revenue.

From here on, it's $1T-plus annual deficits as far as the eye can see, and that's only for official public debt. It may be best we can't peek into the Fed's books, just a glimpse would probably stop the average person's heart cold! For heartier people it may not be lethal, but you'd still occasionally stroke out at the podium like Janet.

nic9075
nic9075

Does it matter if it is 1 trillion, 10trillion or 100 trillion. Bond yields have barely moved higher, and the overall inflation rate is under 3%

Sechel
Sechel

a page out of his real estate playbook. make promises to help sell the building but as i learned if its not in the contract or the prospectus the promise aint worth a dime. not that i believed any of them but some of the promise were doosies like a a railroad that was never built and a suggestion a road in front of the building would be burried.