Mostly, Trump attacked Harris and President Joe Biden and recited various accomplishments, most of them imaginary, from his previous term, speaking in his usual stream-of-consciousness way, this time at the quieter singsong timbre he reserves for solemn occasions. Trump reviewed a little history, repeating his previous crackpot praise for President William McKinley, and at one point he conflated Theodore with Franklin Roosevelt. It wasn’t really an economic speech. It was a Trump speech.
The best guide to Trump’s economic plan, such as it is, is still Project 2025’s Mandate for Leadership. Trump has attempted to disavow it, but 140 members of his administration helped assemble it, according to CNN, including six former Cabinet secretaries as well as Reince Priebus, Trump’s first chief of staff. Mandate’s chapter on tax policy was co-written by Stephen Moore, whom Trump nominated, unsuccessfully, to the Federal Reserve’s Board of Governors. Moore advised Trump’s 2016 campaign and is now advising his 2024 campaign. (According to TheWashington Post, it was Moore who persuaded Trump to create the Musk commission.)
The Project 2025 document calls for collapsing the income tax’s seven brackets into two, 15 percent and 30 percent, the second of these kicking in at about $167,000. That would raise taxes on the haute bourgeoisie earning roughly $95,000 to $182,000. Currently these people pay a top marginal rate of 24 percent, but they’re mostly Democrats, so to hell with them. More to the point, it would lower taxes on the rich, who vote Republican.
Source link : https://newrepublic.com/article/185658/trump-secret-plan-eliminate-government
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Publish date : 2024-09-06 04:49:00
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