Thursday, September 28, 2017

Press Gaggle by President Trump - Talks NFL, Healthcare, Tax Cuts & more

 Facebook founder Mark Zuckerberg has dismissed comments made by Donald Trump that the site has always been against him. The US president accused the social network Facebook and have confirmed they have received invitations to attend the committee hearing, but none of the social media giants have yet said they will be present. Donald Trump on Wednesday unveiled an ambitious tax plan, proposing sweeping tax cuts for individuals and corporations in what the president dubbed a “once-in-a-generation” opportunity to overhaul America’s tax code. Speaking at an event in Indiana, Trump called the current tax system a “relic” while rolling out a proposal that seeks to simplify the tax code and nearly doubles the standard deduction to $12,000 for individuals and $24,000 for families. “These tax cuts are significant. There’s never been tax cuts like what we’re talking about,” Trump said in characteristically grandiose fashion. “We will make taxes simple, easy, and fair for all Americans.” The individual tax rates would be 12%, 25% and 35% – and the plan recommends a surcharge for the very wealthy. But it does not set the income levels at which the rates would apply, so it is unclear just how much of a tax cut would go to a typical family. Trump insisted the tax plan would not benefit the “wealthy or well-connected”, stating: “They can call me all they want, it’s not gonna help.” “It’s not good for me, believe me,” he added. “What is good for me is if everything takes off like a rocketship, like it should have for 20 years. That’s good for me.” But – despite six months of talks with congressional leaders – the outline still lacks vital details about how middle-class families would fare. There are also signs that the wealthiest sliver of Americans could still reap tremendous benefits from the proposed changes, even though Trump has suggested that the rich will not be better off. Trump’s estate would save $564m, the review found, based on his estimated net worth of $3bn. Trump claims his net worth to be at least $10 bn, but he has refused to release his tax returns in a break from precedent, making it difficult to fully evaluate how Trump’s tax plan as president would affect him personally. According to the Bloomberg analysis, a repeal of the estate tax would save Trump’s commerce secretary, Wilbur Ross, roughly $545m and potentially result in more than $900m in savings for Richard DeVos, the father-in-law of Betsy DeVos, Trump’s education secretary. The plan would seek to help families by calling for an increased child tax credit and opening it up to families with higher incomes. The credit currently is $1,000 per child. The plan also seeks to limit the “marriage penalty” on the joint income of couples who both work Deductions for mortgage interest and charitable giving would remain, but the plan seeks to end most itemized deductions that can reduce how much affluent families pay. It retains existing tax benefits for college and retirement savings such as 401k contribution plans. Companies would find themselves paying substantially lower tax rates, part of an effort to make US businesses more competitive globally. Corporations would see their top tax rate cut from 35% to 20%. For a period of five years, companies could further reduce how much they pay by immediately writing off their investments. race campaign 2017 meeting speech "united states" u.s. health hospital usa 2018 "new year" process plane airplane "charter airplane" "private jet" tax "tax planning" "health insurance" "travel insurance" insurance meeting executive sickness states state confidence job employment "middle class" work VAT "tax refund" "small business" "start up" entrepreneur talk negotiate numbers accounting "offshore business" corporate accounting President says he expects a vote on healthcare next year and says he may issue a ‘major’ executive order to allow the purchase of insurance across state lines Trump claimed that the GOP could corral enough votes to pass the measure – a last-gasp effort to deliver on a central campaign promise of the last seven years – but not in time for this week’s deadline, after which 60 votes would be needed instead of 51. Later on Wednesday, Trump told a crowd at a rally in Indianapolis that the senator is “home recovering from a pretty tough situation”. Trump drew laughter when he said he would refrain from singling out the senators who opposed the repeal effort. Trump warns NFL owners that 'their business is going National Anthem as he complains players weren't allowed to wear pink socks: President hints that the NFL could collapse if team owners don't heed his demand to insist players stand for the pre-game National Anthem NFL viewership on TV is down 11 per cent this year compared to 2016 A majority of Americans agree with Trump that pro athletes should be forced to stand for the National Anthem, according super bowl

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