Republican voters across the country say the tax returns of Donald Trump that no one has seen make it clear he will personally take a big financial hit once he signs tax reform into law.
“You’ve got to hand it to the president,” said Joe Carter, a retired accountant in Biloxi, Miss. “Based on the tax returns he’s refused to share with the American people, he’ll lose millions of dollars from the bill that he himself is going to sign. What a selfless act on the part of our president. Not too many people would of that, but he’s doing that for us.”
Since the race between Richard Nixon and John F. Kennedy in 1959, presidential contenders have made their tax returns available so the public can get a picture of their finances and analysts can determine if the laws they sign as president benefit them personally.
April Saunders, a school teacher in Des Moines, Iowa, praised Trump for his willingness to take a significant personal financial loss in order to give a tax cut to the middle class like her. “We know from the tax returns that he’s never made public that he himself will pay millions more in taxes as a result of the bill he plans to sign,” she said. “All you have to do is look at the tax returns he’s refused to release to see that he’s making a huge sacrifice on our behalf.”
Saunders added that you’d never see Barack Obama make such a sacrifice for the American people.
Trump, a real estate developer and investor, has said he’s worth up to $10 billion, although in a deposition tape that was released during the presidential campaign he said he changes his estimate of his net worth based on his mood and the state of the world economy. He was also heard saying he’s worth as much as he can make people believe he’s worth.
Under the tax bill bill, profits and other types of business income that are passed through to the individual side of the tax code will be eligible for a new 20-percent deduction, lowering the taxes of people who make their money in investments, including real estate investments.
Terrence Holcomb, a former machinist in Lawrence, Kans., who drives for Lyft and Uber to help him make ends meet since the factory he worked for relocated overseas, says Trump’s willingness to sacrifice his personal fortune to give ordinary workers a tax cut that will expire after several years while corporate cuts remain permanent, gives him inspiration.
“The president’s first job is to give hope to the American people and our president is doing that by hurting his own self interest in the name of a prosperous future for the working class,” he said. “All you have tho do is look at the tax returns he’s never made public to see how tax cuts are going to hurt him personally. He keeps saying his accountants are going to be really mad at him for signing this bill, but I want the president to know I personally thank him for his sacrifice. What he’s doing just chokes me up and makes me want to cry.”
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Trump: ‘Unbelievable’ to Pass Tax Cuts When Your Party Controls White House, Both Houses of Congress
President Donald Trump today called it unprecedented for a president to pass major legislation like his tax cuts bill when his party controls both houses of Congress. “I know the fake news wants to downplay what a great accomplishment this is, but we had to get the bill passed by a Republican-led House that’s been trying to pass tax legislation for more than eight years and a Republican-led Senate that’s been trying to do the same,” he said. Trump said the bill had to pass using a complicated rule called reconciliation. “A lot of people don’t realize this, but we passed this bill under a rule that lets Republicans pass the bill without any Democrats,” he said. “It’s an unbelievable way to do it. More.
President Donald Trump said in a press briefing today that his administration has talked more about helping working class Americans than any administration in the United States. “No one’s talking about the interests of our workers like I am,” said Trump, whose tax reform plan, released in late April, cut taxes for corporations and pass-through entities, of which The Trump Organization is one. Most middle-class homeowners would see their taxes go up because the plan would eliminate the deductions for mortgage interest, real estate taxes, and state and local taxes. It would keep the mortgage interest deduction, but that’s not enough to offset the losses elsewhere, pushing them to take a new $24,000 standard deduction that’s less than what they got when they itemized. More.
A report by the Kleinbaum Institute of Forensic Sciences at Columbia University says there’s a good chance President Donald Trump has been hiding his bald spot in his taxes since 1995 and maybe even as far back as 1991. “As a presidential candidate, Donald Trump was willing to risk losing the election by refusing to do what presidential candidates have been doing for the last 40 years: release their tax returns,” says William Berger, professor of forensic sciences at Columbia and the director of the Kleinbaum Institute. “The question that has intrigued Americans and even people around the world for the past 18 months is, why? We think we know why.” Berger says it’s understandable people think Trump is trying to hide embarrassing financial matters by keeping his taxes out of the public spotlight. More.
President Donald Trump said it was a lie when a man he said was lying about him called him a liar. “The liar who lied about my lying is a liar,” the president said in remarks to reporters this morning. Trump said the liar lied about his lying even after lying about being a liar. “When a liar lies about his lying, you know it’s a lie,” he said. “It’s a lie to think you can lie about a lie, because people know it’s a lie and I’m not lying about that.” Trump said he had to call the liar a liar after he lied about him lying about his lying. “What he said was a lie, because he said I was lying.” More.
President Donald Trump is expected to blame his 2016 Democratic opponent Hillary Clinton later today. An administration official this morning said the President will be saying it’s Clinton’s fault and that Clinton’s actions raise questions. “Let’s not forget that questions remain unsettled over what Clinton did and what she didn’t do,” said the official, who spoke on the condition of anonymity in order to speak candidly about the President’s intentions. The official said Trump plans to assign the blame to Clinton and will likely point to unanswered questions as well. “He will be clear that the Democratic nominee he ran against is at fault, but whether he will pivot to unanswered questions in her past isn’t clear,” the official said. “We’re talking about the President. He goes off script sometimes.” More.
House Speaker Paul Ryan (R-Wis.) says the trial balloons he’s been floating about retiring after tax reform passes have nothing to do with his plans to run against Donald Trump for the 2020 Republican presidential nomination. “I am not planning and will not plan to offer Republican voters an alternative to the crazy man in the White House today,” Ryan said. Ryan said there’s no truth to the rumor that he would seek to give an alternative to Republican voters who don’t want to see Trump reelected but also don’t want to see a Democrat take the White House. “I know there’s speculation that I would put myself out there as a safe vote for Republicans who don’t want another Roy Moore-type debacle in 2020, but that is not the case,” he said. More.
Pointing to the “unbelievable job” he’s doing as president, Donald Trump today said he’s way ahead of his schedule for fixing everything that’s wrong with America. “When I was nominated by so many Americans last year, I said that I alone can fix our great country’s problems,” he said in a briefing with reporters. “I’m glad to say your president has delivered on his promises and you’ll be so surprised and so pleased at how much I’ll deliver on my promises in the weeks and months ahead.” Trump cited the success of free speech that was expressed in Charlottesville, Va., yesterday, in which a coalition of white nationalist groups clashed with anti-fascist demonstrators. “The free speech was so good,” he said of the rally, at which one protestor was killed when an alleged neo-Nazi supporter rammed his car into a crowd of people. Two officers were also killed when their police helicopter crashed. Virginia Governor Terrence McAuliffe declared a state of emergency. More.
President Donald Trump says he’s already settled on his 2020 reelection theme and that Americans can expect to hear more about it in the coming months. “As I’ve traveled across this great country of ours—a country getting greater every day, I might add—I’ve come to the conclusion that we need a competent government in the White House more than anything else because after eight years of mismanagement by the Russian colluder Barack Obama, and the Democrats attempt to rig the election in 2016, we can’t have more failed policies in our government,” Trump told reporters in a briefing this morning. Trump raised eyebrows last month by appearing at a rally in Cedar Rapids, Iowa, that was funded by his campaign operation and billed as his first speech of the 2020 presidential election. Corey Lewandowski, a campaign manager for Trump during the 2016 election, says Trump inherited a White House in disarray and has had to spend his first months in office “fixing all the things Barack Obama broke.” More.
President Donald Trump made a more serious and important decision this morning than anything former President Barack Obama ever made in his eight years in office, White House Spokesperson Sarah Huckabee Sanders said today. Sanders was responding to a question from a reporter about an important piece of paper that Trump was photographed looking at this morning. Sanders said she wasn’t familiar with the paper, but based on past papers the President has looked at, it was likely something of grave national concern about which the President made a better decision than Obama ever would have. “I can tell you that, whatever decision President Trump made was better for America, created more jobs and saved more lives, than decisions his predecessor made,” she said. Tomorrow the President will be making better decisions than Obama based on a briefing book of “probably 100 pages” that he is scheduled to be photographed looking at, Huckabee said. “The jobs will be better, the outcome for America’s forgotten middle class will be superior to the disaster that was the Obama presidency,” she said. More.
President Donald Trump this morning announced the formation of a White House office to identify and assign blame to the responsible person for upcoming policy failures of his administration. “No administration will be as accountable to the American people as mine for assigning blame for problems that will be coming in the years ahead,” Trump said in announcing his new White House Office of Blame Laying. On the upcoming failure of the American Health Care Act, for instance, the finger of blame will be pointed at former president Barack Obama for his program to increase the number of people with health insurance by 20 million. “When the Republican bill to repeal and replace Obamacare results in higher premiums for worse insurance for a declining number of Americans, we will know immediately that Barack Obama is to blame. More.