Politics

Just hours before the Trump tax plan was leaked this morning, Goldman noted that "even if this tentative budget agreement in the Senate becomes official the forthcoming proposal would have to be scaled substantially to fit within the fiscal constraints Congress is likely to impose" which we summarized as follows:

In other words, for all the hype, the final Trump tax cut - if it passes - will be a pale shadow of its initial proposal

Goldman also presented the following comparison table to summarize how the expected plan would fare in context:

Despite the ubiquitous "tax cuts for billionaires" comments from the likes of Schumer and Pelosi, Matt Drudge has seen enough when it comes to President Trump's policies. After the leaked details of Trump's tax plan suggests a 'surcharge on the wealthiest Americans', Drudge took to Twitter...

First keep Obamacare, now raise taxes on top earners? At least illusion there is difference between parties is finished once and for all!

— MATT DRUDGE (@DRUDGE) September 27, 2017

It appears the Commerce Department's preliminary ruling, issued late last night, to slap a 220% tariff on Canadian aircraft manufacturer Bombardier could trigger an all-out trade war between the UK and Canada (on one side) and the US (on the other) as public officials in the UK and Canada blasted the ruling and threatened retaliation should the sanctions, which still need to be approved by the US International Trade Commission, become permanent.

http://www.youtube.com/embed/lpGB2iIw5Ow

Despite the State Department’s official position of neutrality, President Trump could not help himself. After meeting with the Spanish prime minister he declared himself opposed to an independence referendum in Catalonia. Is it really his business?

This afternoon, during a speech in Indianapolis, President Trump will unveil the long-anticipated Republican tax reform proposal that calls for substantial business and individual tax cuts. As has been leaked previously, the tax plan is anticipated to disclose a 35% individual tax rate (although Congress may push it higher), a tax rate on corporations and pass thrus that will be around 20% and 25% respectively, while doubling the standard deduction to $12,000 for individuals.