Taxes, taxes, and more taxes is what this nation has become. We have become such a brutally taxing country that one forgets how we became a country in the first place. Listening to the president’s speech about taxes got my blood boiling again. The tax promises that candidate Trump made was a big part of the populist movement and why I backed him.
Right out of the gate, the president changes his promise of a 15% corporate rate to 20%, so in other words, the swamp has already had its influence on him. This five percent difference means something in the real world. If we are competing with countries like Ireland with a 12.5% tax rate, then our newly unveiled 20% rate is still not competitive. If it was at fifteen, then an American Company headquartering itself overseas just to get a few extra points could be painted as scumbagish. However, there is a big difference for a corporation between a 12.5% tax rate and a 20% when you are talking about points on hundreds of millions of dollars, if not billions. Now, the American company based overseas is prudent and not scumbagish. It is a real difference in a real world.
Just listening to this roll out from the president’s mouth and hearing this capitulation of his promise of 15% disappear, I can already see that whatever the end product will be, will not mirror Trump’s campaign promises. This is becoming a pattern with the president when one looks at what he says compared to what he does. Now he just got his ass handed to him in the Alabama Senate race, while the populist movement moved on without him. Maybe he should learn a lesson from what happened with Alabama and get his presidency back on the populist track he co-opted? Well, at least that is what I think.