Wednesday, January 4, 2017

It's Called a Conflict of Interest...

Donald Trump stands to personally profit from the legislative agenda he is expected to push in his first 100 days, raising questions about whether he can separate his financial interest from his public office without totally cutting ties from his business empire.

The top items on the president-elect’s policy checklist — from rewriting the tax code to scrapping Wall Street regulations to repealing Obamacare — have for years been Republican orthodoxy. But Trump could see a direct benefit to muscling through broad tax cuts and eliminating regulations: billions of dollars in new savings for him and his family and fresh revenue for his business portfolio, according to a POLITICO analysis of Trump’s public statements and financial disclosures and interviews with tax experts.


“It’s kind of unprecedented that a president would be proposing tax and regulatory changes that have such a significant benefit to him and his family and presumably his business partners as well,” said Leslie Samuels, a tax attorney and former senior Clinton administration Treasury official. “It’s a combination of changes that have a potential for a material benefit of a large magnitude.”

The Republican tax code overhaul is expected to include across-the-board tax cuts, including one to the top business tax rate that would allow Trump’s companies to keep a greater share of their profits. Beyond the rate reduction, Trump could also benefit from several other provisions likely to be part of the GOP tax reform package, such as a proposed exemption on foreign income generated from overseas sales, from certain business interest deductions on debt-financed projects that are widely favored by real estate developers and from provisions allowing small-business owners to tap into a lower 15 percent rate when they file using their personal-income returns.


Click on the above excerpt for the full story.

9 comments:

  1. Trump may benefit from the GOP gutting the tax system. On the other hand, he by his own omission pays
    zero already. Deregulation could help him: all the suits he has to settle out of court with $$ would leave
    his businesses free to commit all sorts of clever (huuuugely clever) fraud. Presumably, his loyal middle
    class will applaud paying more taxes, losing their health insurance, selling their social security to
    Goldman-Sachs and Wells Fargo, and taking their homes by eminent domain for Trump casinos. It is the
    new alt-reality. Orwell and Kafka would understand.

    ReplyDelete
    Replies
    1. Yes BB Idaho, Orwell and Kafka would understand.

      Delete
  2. Just think about it, In Just Two Weeks Americans can REALLY be proud of their country!

    ReplyDelete
    Replies
    1. Correction: TRUTHFUL PRICK.

      You on the other and are a MORONIC PRICK. As well as a LIAR.

      Buh Bye...

      Delete
  3. Trump will make America great again...by resigning the presidency.

    ReplyDelete
    Replies
    1. We can hope Jerry.

      Or, maybe President Trump the Man Child will get himself impeached.

      Delete
    2. LOL. Trump loves publicity so much, perhaps he will. It would definitely be the story of the year. Maybe Time Magazine could tell him they would make him Person of the Year again if he could get himself impeached.

      Delete

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