{"id":21714,"date":"2024-04-17T21:39:22","date_gmt":"2024-04-17T21:39:22","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/04\/17\/trump-pushed-to-embrace-17-income-tax-for-all\/"},"modified":"2024-04-17T21:39:22","modified_gmt":"2024-04-17T21:39:22","slug":"trump-pushed-to-embrace-17-income-tax-for-all","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/04\/17\/trump-pushed-to-embrace-17-income-tax-for-all\/","title":{"rendered":"Trump Pushed to Embrace 17% Income Tax for All"},"content":{"rendered":"
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They say they meet with the former president approximately every six weeks to brief him on policy ideas, share economic data and suggest names for key political appointee posts.<\/p>\n

Laffer last month floated himself in a list of names to serve as Federal Reserve chair. In an interview Wednesday, he said he would rather serve as a White House adviser than Fed chair.<\/p>\n

On the campaign trail, Trump has often said he would pass the \u201cbiggest\u201d tax cuts and claims that if he is not elected, taxpayers will see their IRS bills increase under Biden. Trump has not detailed what his tax plan would look like.<\/p>\n

\u201cPresident Trump proudly passed the largest tax CUTS in history,\u201d Trump campaign spokeswoman Karoline Leavitt said in a statement. \u201cWhen President Trump is back in the White House, he will advocate for more tax cuts for all Americans and reinvigorate America\u2019s energy industry to bring down inflation, lower the cost of living, and pay down our debt.\u201d<\/p>\n

Forbes advocated for no taxes on savings and eliminating the estate tax, both changes that would disproportionately benefit the wealthiest Americans.<\/p>\n

State and Local Taxes<\/h2>\n

The advisers are also advocating to maintain or reduce the $10,000 cap on state and local tax, or SALT, deductions. Trump\u2019s 2017 law imposed the $10,000 SALT write-off limit, which was previously unlimited.<\/p>\n

That change was most acutely felt in high-tax states, including New York and New Jersey.<\/p>\n

Democrats are more inclined than Republicans to advocate for expanding the deduction, but a handful of key House GOP lawmakers representing the New York City suburbs and Southern California \u2014 districts that will likely determine who controls the House next year \u2014 also support expanding the tax break.<\/p>\n

Moore said he also doesn\u2019t see eye-to-eye with Trump on trade policy. As president, Trump instigated a bevy of new tariffs, on washing machines, solar panels, steel, aluminum, and other goods from China, which economists say have raised prices for consumers and started tariff wars with trading partners.<\/p>\n

\u201cI disagree with Trump, and he knows it, on some of the tariff policies,\u201d said Moore, who called himself a \u201cfree trade guy.\u201d<\/p>\n

Moore said he\u2019s learned to live with Trump\u2019s desire for trade reciprocity and tit-for-tat tariffs.<\/p>\n

\u201cThe whole idea of this group is to provide President Trump and other top policymakers with the economic advice they need,\u201d he said. \u201cHe doesn\u2019t always take our advice but he likes our thoughts.\u201d<\/p>\n

(Credit: Bloomberg)<\/em><\/p>\n

Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n","protected":false},"excerpt":{"rendered":"

They say they meet with the former president approximately every six weeks to brief him on policy ideas, share economic data and suggest names for key political appointee posts. Laffer last month floated himself in a...<\/p>\n","protected":false},"author":1,"featured_media":21715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/04\/trump-pushed-to-embrace-17-income-tax-for-all.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21714"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21714"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/21715"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}