Wednesday, September 6, 2017

President Trump: “That’s One Business I Want To Drive Down”

President Trump promised to "restore America's competitive edge" in the global economy by implementing a tax overhaul during a speech Wednesday at Andeavor Refinery in Mandan, North Dakota.
“Our painful tax system has become a massive barrier to America’s economic comeback. It really is. We’re penalized. It costs us millions of American jobs, trillions of dollars and billions of hours wasted on paperwork and on compliance.”
Calling the effort to reform the tax codes a “once in a generation opportunity” and “a sharp reversal from the failed policy of the past,” the President called for cutting both individual and corporate income taxes.
The President said Wednesday he wants a tax code that is “simple, fair and easy to understand.” The president said he’d like to bring the corporate tax rate down to 15 percent from 35 percent.
As is his wont, Mr. Trump veered off his prepared statement to take aim at the tax preparation industry saying, “That’s one business I want to drive down.  Sorry.  H&R Block will not be supporting Donald Trump, I can tell you that.”
According to the Kansas City Star, the Kansas City-based tax preparation company ended its free federal 1040EZ filing promotion and refund advance loans in February of this year.
Block prepared a total of 10.345 million individual tax returns and 3.637 million business returns through February 28, 2017.
The Democrats say we live in a great country and we should pay our taxes with a smile. Willie Nelson tried that one year but the government insisted on cash.

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