During an interview on Fox and Friends following the passage of the Trump Tax Cut legislation, Ivanka Trump just flat out proved she has not idea what’s going on:
…Trump talked about traversing the country around Tax Day to witness the reviews for herself. “I’m really looking forward to doing a lot of traveling in April when people realize the effect that this has . . . on the process of filling out their taxes.”
Well the 2018 taxes that will affected by this tax legislation won’t be filed until…well…oh April 2019! Although IRS tax tables for the new rates will most likely be available in February 2018, the changes in their paychecks will for the most part go unnoticed.
Trump’s very next sentence didn’t fare much better: “The vast majority will be doing so on a single postcard.”
Just flat out ain’t happening. Although some people may avoid having to itemize on their tax forms…they may have to calculate them to determine the most advantageous position to take. So it may be as complicated as ever. I’d love to file on a postcard!
And this tidbit on the national debt. A debt that every economist expects to grow no matter what economic growth may occur from the tax cuts…an additional $1 to 1.5 Trillion dollars depending on your take on the economic impact.
And finally, Trump recalled her talks with Sen. Bob Corker (R-Tenn.), a critic of her father’s and an early skeptic of the bill who wound up voting for it.
“He had his concerns,” she said. “He felt that his concerns were adequately addressed, and he really believes that tax relief coupled with the administration’s deregulatory actions will create the growth that will start to erode and ultimately eliminate a national debt that has been incurred over the last several decades.”
The national debt stands at more than $20 trillion, and Trump’s comments suggest this bill will set a path for eliminating it. That’s an extremely bold claim that wasn’t even offered by the bill’s proponents, who have mostly sought to argue that the bill simply won’t add to the debt.
and if you can get through it catch the last few moments of the video attached to the WaPo article as rifles and bullets are used to play jingle bells…undoubtedly a valid reason to support the continued availability of silencers and assault rifles. The next time someone talks about putting Christ back in Christmas roll that thing out.