Trump vows to right 'self-destructive' tax code

Treasury Secretary Steve Mnuchin points to a reporter to take a question during a news briefing at the White House REUTERS  Yuri GripasMore

Treasury Secretary Steve Mnuchin points to a reporter to take a question during a news briefing at the White House REUTERS Yuri GripasMore

"We fully support the President's and Congress' push to simplify and reform the USA tax system. I want to work with Congress, Republicans and Democrats alike, on a plan that is pro-growth, pro-jobs, pro-worker, and pro-American".

"Lower taxes on American business means higher wages for American workers", he said.

The Republican President is kicking off his effort on tax reforms in Springfield, which is regarded as the birthplace of the famous Route 66 highway, also known as America's Main Street. "And it could be much worse than that". "Trying to pass a large middle-class tax cut alongside a tax reform package could make the legislative math very hard". Trump said. "Do you understand?"

"She must do this for you, and if she doesn't do it for you, you have to vote. Her. Out. Of".

In laying out his tax overhaul plan Wednesday, Trump spoke broadly about simplifying the tax code and "eliminating special-interest loopholes".

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Ironically, Trump recently harkened upon the voters of Pittsburg to make a statement about his policies, justifying his pull-out of the Paris climate agreement by saying, "I was elected to represent the citizens of Pittsburgh, not Paris".

Momentum is mounting in Washington for comprehensive tax reform as the Big Six continue their diligent efforts to make tax reform a reality.

Donald Trump plead with congress to pass the plan in a speech in Missouri last night. "We would like to bring our business tax rate to 15 percent". That's lower than in Japan (21.7 percent) and the United Kingdom (18.7 percent) and only a few percentage points higher than Germany (15.5 percent).

"Right now, our tax code is burdensome, incomprehensible, and puts American businesses at a severe disadvantage on the world stage", Speaker Ryan said. A rate between 20% and 25% is thought to be more likely.

"We have totally surrendered our competitive edge to other countries", Trump said. He repeatedly called for a fair tax system toward middle class Americans and one that would keep businesses in the U.S.

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That's why we are committed to reforming the tax code and why President Trump reiterated his commitment today in Missouri.

But many companies pay a lower corporate rate by using deductions in the tax code.

He told the audience that the countries that have low business tax rates have an advantage over the United States.

Congress returns next week when leaders of both parties are scheduled to meet with Trump at the White House.

Trump's Treasury Department has cited a 2006 Congressional Budget Office study to back the claim that workers mostly bear the brunt from corporate taxes, as well as research by Kevin Hassett, the economist picked to lead the White House Council of Economic Advisers. "If they don't do their job, they need to be fired", Armstrong said.

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"Contemptible", "crazy", and "we all knew he was a nut" are the words a Pittsburg, Pennsylvania focus group used to describe President Donald Trump - including a few of his voters.

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