Trump and taxes: Back to drawing board, seeks GOP consensus

[Yo_Mama_Been_Loggin]

WASHINGTON — President Donald Trump has scrapped the tax plan he campaigned on and is going back to the drawing board in a search for Republican consensus behind legislation to overhaul the U.S. tax system.

The administration's first attempt to write legislation is in its early stages and the White House has kept much of it under wraps. But it has already sprouted the consideration of a series of unorthodox proposals including a drastic cut to the payroll tax, aimed at appealing to Democrats.

Some view the search for new options as a result of Trump's refusal to set clear parameters for his plan and his exceedingly challenging endgame: reducing tax rates enough to spur faster growth without blowing up the budget deficit.

Administration officials say it's now unlikely that a tax overhaul will meet the August deadline set by Treasury Secretary Steve Mnuchin. But the ambitious pace to figure out a plan reflects Trump's haste to move quickly past a bruising failure to broker a compromise within his own party on how to replace the health insurance law enacted under President Barack Obama.

https://www.msn.com/en-us/news/politics/trump-and-taxes-back-to-drawing-board-seeks-gop-consensus/ar-BBzBRBj?li=BBnbcA1&ocid=edgsp

Sorry Chump but it's still doo doo economics no matter how you try to spin it.

[unblock]

1. "a drastic cut to the payroll tax, aimed at appealing to democrats"???

democrats would take this as an effort to undermine social security and medicare.

[NewRedDawn]

2. Exactly.

How about expanding & increasing Earned income credit as a start. Also the refundable Child Income credit should be expanded to age 22 instead of 17.