With President Donald Trump working overtime this week to come up with a tax cut wish list for Congress — including a massive cut to the top corporate tax rate — the senior tax counsel for House Leader Paul Ryan (R-WI) declared Trump’s plans dead before it has ever even been submitted.
According to a report from the Wall Street Journal, Trump’s proposal would slash the top corporate rate down to 15 percent and would primarily benefit, “professionals that organize themselves in an LLC or partnership. Doctors, lawyers, consultants, lobbyists.”
Speaking at an international finance summit last week, Ryan’s tax law specialist George Callas called out Trump’s plan for a massive tax cut without offsetting cuts to pay for it a “magic unicorn.”
“A plan of business tax cuts that has no offsets, to use some very esoteric language, is not a thing,” Callas patiently explained to the panel and attending crowd. “It’s not a real thing. And people can come up with whatever plans they want. Not only can that not pass Congress, it cannot even begin to move through Congress on day one. And there are political reasons for that. No. 1 of which is, members wouldn’t vote for it. But there are also procedural, statutory procedural, legal reasons why that can’t happen.”
Watch Callas’s blistering dissent below:
Watch Trump’s ’jaw-dropping’ interview with Axios on HBO
Trump ridiculed for his late-night ‘OPEN THE SCHOOLS’ rant: ‘Eat your Big Mac and shut up’
President Donald Trump demanded local school boards reopen schools during a late night tweet sent after 11 p.m. on Monday.
"OPEN THE SCHOOLS!!!" Trump demanded, in all capital letters with three exclamation marks.
The president was harshly criticized for his tweet, here's some of what people were saying:
You can't even get your own son's school to open.
They have refused.
The school where your son Barron is being educated refuses to open because it's not safe.
Now sit there, eat your Big Mac, and shut up.
Florida Democrats ask their own candidate to withdraw his candidacy after cocaine arrest: report
Democrats in Florida are asking their own candidate to end his campaign for county commission after an arrest for DUI and cocaine.
"A Collier County commission candidate's arrest in East Naples this past weekend has prompted calls from his party to drop out of the race," the Naples Daily News reported Monday. "John Jenkins, 55, was booked into the Naples Jail Center Sunday morning and faces a felony charge of possession of cocaine, according to a Collier County Sheriff's Office arrest report. He was released later that day on $5,000 bond."