With all the attention being directed at President Trump’s temporary travel ban, a lot of other important issues have seemingly fallen by the wayside.
Among his many promises during the campaign, Trump vowed to slash taxes. Now, as his presidency enters his second month, he is under pressure to present those tax cuts to the American people.
Tax cuts not only encourage hiring and give consumers and businesses alike more cash to spend. They also (counter-intuitively) can increase revenues to government coffers, as proven by the famous “Laffer Curve” in economics.
Trump has heard these critiques and has just responded with an encouraging vow:
Speaking to airline executives at the White House, Trump empathized with the burdensome regulatory climate the industry is operating under, and promised to begin making reforms.
“We want to help you realize these goals by rolling back burdensome regulations, and you people are regulated probably as much as almost anybody,” Trump said. “We have a regulatory morass that’s a disaster.”
He also promised a round of tax cuts, as reported by Gabrien…
“Lowering the overall tax burden on American business is big league, that’s coming along very well,” Trump said. “We’re way ahead of schedule, I believe. And we’re going to be announcing something — I would say over the next two or three weeks — that will be phenomenal.”
Watch Trump’s announcement and House Ways and Means Chairman Kevin Brady explain the coming tax reform…
Frankly, some of Trump’s critics on the right have had unrealistic ideas about how much he can accomplish in real time.
Instead of being bowled over by what he already has done — keeping more promises and getting more accomplished in a few weeks than many other presidents have done in years — they are pushing Trump to keep every promise overnight.
This simply isn’t realistic, especially when the subject is taxation. Everyone knows what the U.S. tax code looks like, and how many bureaucratic and legislative stumbling blocks are in Trump’s way. He can’t undo decades of big government greed overnight.
He was only sworn in a month ago!