Saturday, 24 August, 2019

Trump approval rating depends on which poll you look at

The U.S. Capitol dome is seen in Washington The U.S. Capitol dome is seen in Washington
Deanna Wagner | 13 September, 2018, 11:09

House Republican leaders have unveiled their proposal to expand the massive tax law they hustled through Congress previous year.

The poll is CNN's first since the conviction of former Trump campaign chairman Paul Manafort on tax and bank fraud charges stemming from Mueller's investigation and guilty pleas from Trump's former lawyer Michael Cohen on several charges after an investigation that Mueller had referred to the US Attorney's Office for the Southern District of NY.

In the race for North Dakota's lone House seat (the seat Cramer is vacating to run for Senate), Republican Kelly Armstrong (48 percent) leads Democrat Mac Schneider (34 percent) by 14 points. "But reductions in individual tax rates were scheduled to expire after eight years so the GOP could meet a restriction imposed as a condition of the fast-track reconciliation procedures used to pass the new tax law", writes the WSJ.

A dozen House Republicans opposed the Tax Cuts and Jobs Act last December.

The proposal also calls for new tax incentives for savings by creating a "universal savings account" for families that could be used for a range of purposes and would allow the tax-free earnings to be more easily withdrawn than is the case with existing retirement accounts.

Under Trump and the Republican-controlled Congress, the federal deficit has begun growing rapidly again and is expected to blow through $1 trillion in 2019. It also temporarily lowered individual tax rates and nearly doubled the standard deduction.

Democrats have criticized the new wave of tax cut, suggesting that the proposed changes would primarily benefit the wealthiest taxpayers.

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Trump often cites the tax cuts enacted by Republicans as one of the driving forces behind the economy's aggressive growth.

That law lowered the corporate tax rate permanently from 35 percent to 21 percent.

The United States economy created 3.5 million jobs since Trump took office, according to the White House.

Small businesses are benefitting the most. Another 28 percent say the economy is "not so good" or "poor".

FILE PHOTO: Chairman of the House Ways and Means Committee Kevin Brady (R-TX) holds up a sample tax form as he speaks during a media briefing after the House Republican conference on Capitol Hill in Washington, U.S., April 17, 2018. Carter repeated his frustrations with the last Democratic president, Barack Obama, for not engaging more directly with the insular Asian nation.

"If the Democrats had won the Election in 2016, GDP, which was about 1% and going down, would have been minus 4% instead of up 4.2%", Trump wrote on Twitter on September 10. But as Trump's populist attacks against free trade have erupted into trade wars with China and USA allies, trade tensions have overshadowed the tax cuts in economically vulnerable areas of the country that depend on exports. Our system was choking and would have been made worse.