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January 23, 2017

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Another thing - this destination based cash-flow tax the House published last year is gumming up the works on tax reform. If they hadn't put it out, my guess is that we would see tax reform (or at least "reform") by May at the latest. Now it might not happen at all.

As it is, it seems the House GOP has become wedded to/deeply invested in the idea for whatever reason, whereas Senators/Trump are like "eh, what's that? Sounds complicated and risky" and would rather do regular old reform. You probably also have Ryan and Brady running to Trump and his advisers saying "this works just like a tariff just like you wanted!!" while saying the opposite publicly, which leads to Trump going back and forth (or is it around in circles?) on this further slowing things down.

My guess is that the House put this blue print out last year never expecting that they would have a chance to get it past President HRC and so, like ACA repeal, didn't think everything through. That is, they expected to use the next several years studying the new kind of tax and gathering more information and convincing skeptics and then making it part of the GOP's pitch in the 2020 election. Instead everyone is expecting tax reform (especially corporate tax reform) NOW NOW NOW and there is no consensus even among the GOP in Congress on an approach.

Oops.

ugh: Other complexities inherent in system that may not be amenable to fix - e.g. ... taxing net income for businesses instead of, e.g., gross receipts, etc.

I'd like to see a single solitary business stand up and ask to be taxed on gross receipts instead of net income before I die. It would be a hoot and three quarters. Imagine "businesses", the sacred cows of American politics, being taxed the same way job consumers get taxed! Scandalous!!

(BTW, not that anybody here needs reminding, "small businesses" DO NOT PAY TAXES, Lyin' Ryan's persistent insinuations to the contrary notwithstanding.)

Consider instead what income taxes would be like if individuals got to act like businesses, and pay tax on their net income after deductions for their actual costs of doing business, down to and including the clothes they need to be presentable at work and the coffee they need to stay awake at work. Actually, don't: the implications at both the personal tax filing level and the national tax policy level would boggle your entire mind.

--TP

My guess is that the House put this blue print out last year never expecting that they would have a chance to get it past President HRC and so, like ACA repeal, didn't think everything through.

The transition from being the opposition to actually being expected to govern does appear to be being extremely difficult for them.

Gosh, suddenly people expect you to step up and execute all that stuff you have been declaiming about. They will expect it to work like you said, too! And those who are not totally lost to reality realize that it won't -- and there won't be a Democratic administration to blame for the problems. Ouch, indeed.

wj: And those who are not totally lost to reality realize that it won't -- and there won't be a Democratic administration to blame for the problems.

A lovely thought, but alternative facts are powerful things. If the "white working class" can't find a way to blame the Obama administration for the woes He, Trump inflicts on them, they can always fall back on the "fact" that He is actually a Democrat.

--TP

TP: just like Bill Clinton got the blame for 9/11, and Obama got the blame for the 2008 financial crisis.

These are not honest people.

i think it's less about honesty and more about the fact that we no longer share the same reality.

I guess my hope of Ivanka exercising some kind of moderating influence was rather ill-considered. Things might get better if Bannon and Stephen Miller went down in scandal, perhaps Trump would find less horribly poisonous people as advisers.

I'm trying, with total lack of success, to imagine a scandal which would bring down Bannon. Getting booted because he told Trump he's an idiot? Sure. But a scandal? What might that be?

I'm trying, with total lack of success, to imagine a scandal which would bring down Bannon

caught binge-watching "the sound of music"

Any scandal that makes Trump look bad. It might have to be very bad. Caught on tape vigorously using the N word maybe.

Speaking of, it would be nice if those rumored Apprentice tapes appeared.

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