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Trump wants to lower USA tax rates closer to Irish levels
February 22 2018, 04:34 | Irvin Gilbert
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"President Trump's tax reform proposal will generate massive investment in the USA with the result being increased opportunities for our nation's workers to regain their footing as they seek to achieve the American dream".
US President Donald Trump turned his populist rhetoric to tax reform on Wednesday, calling for "pro-American" business tax cuts as a way to create jobs and telling Congress that it needs to deliver.
In laying out his tax overhaul plan Wednesday, Trumpspoke broadly about simplifying the tax code and "eliminating special-interest loopholes".
Trump has had McCaskill in his sights, just days ago tweeting that a Republican "will win" the election there because McCaskill is "opposed to big tax cuts".
He further called on congressional Democrats and Republicans alike to support his administration's effort to overhaul the USA tax system, contending that it's their "once in a generation opportunity" to do so.
In the coming months, they are expected to try to tackle several items on Mr Trump's legislative agenda, including tax reform, which the President teed up in Springfield.
The president was short on specifics, but aides said he wants to frame the debate in a move to lower taxes. Trump said to cheers.
All I want to do is MAGA (Make America Great Again), Trump added with the slogan of his presidential campaign.
During the last 10 years, Trump said the country's economy has only grown at two percent. There is a simple choice on tax reform: Either the taxpayers' hard-earned money will continue to be sent to Washington and enter a maze of bureaucratic inefficiency and ineptitude, or the tax code can be fixed and rates can be lowered.
He further offered that his tax overhaul plan would bring back trillions of dollars in wealth that large companies are now parking overseas due to the United States' high tax rate and "horrible bureaucratic rules".
The President classified his ideas as "pro-American tax reform" that will allow companies to hire in the USA and expand at home, not overseas.
"They are taking us, frankly, to the cleaners", the president said.
So POTUS will be making numerous trips out into the country that elected him to round up support and pressure Congress to get along with the business of putting more money back into peoples' wallets and more jobs on the tax rolls.
The idea that the USA could gain a competitive advantage by lowering corporate tax rates below those of other developed counties is supported by many conservative groups. To reduce corporate taxes and lower top marginal rates on rich people!
"By making it less punitive for companies to bring back this money and making the process far less bureaucratic and hard, we can return trillions and trillions of dollars to the economy and spur billions of dollars in new investments in our struggling communities and throughout our nation", Trump said. "Instead of trying to benefit themselves, Trump and Republicans should work with Democrats to enact real, bipartisan tax reform for the middle class".
Trump has been pushing for Congress to take swift action on tax reform when it returns to session in September.
But he also made clear that, as he had done with health care reform, he planned to leave much of the actual planning to Congress.