May 21, 2019

Does America Need Another Tax Cut?

“The 2017 Republican tax cuts have been a dud on the campaign trail ahead of the November midterm elections, so President Trump has come up with a new plan: more tax cuts.

In Nevada on Saturday, Mr. Trump said he and Republican lawmakers had been working on “a very major tax cut” for middle-income people that would be rolled out in the coming weeks.

There is no chance of such a plan passing even the House before the midterms, let alone the Senate, because Congress is in recess through the election. So the move appears to be an effort to give Republican voters a jolt of enthusiasm as the polls are opening — and perhaps an acknowledgment of how small a boost Mr. Trump’s signature tax bill seems to be giving Republicans in the battle to control Congress.

Steven Mnuchin, the Treasury secretary, said in an interview on Sunday that he had been working diligently with Representative Kevin Brady of Texas, the Republican chairman of the House Ways and Means Committee, to develop another tax plan that would be released “shortly.””

Read more

JJ Editor's Daily Picks

"The biggest topic in British political circles on Monday wasn’t the country’s impending departure from the European Union. It was milkshakes..."

"I often disagree with Rep. Justin Amash, R-Mich., but I've been disturbed by the idea that he should be run out of the Republican Party just because he believes President Trump committed impeachable offenses."

"The Icelandic band Hatari, whose members are quite vocal in their animosity towards Israel, held up Palestinian flags... Madonna, likewise, had two of her performers wear Israeli and Palestinian flags on their costumes."

"To celebrate the 10-year anniversary of Quentin Tarantino's "Inglourious Basterds" premiering at the Cannes Film Festival, I turn to movie critic Roger Ebert's old review of "Raiders of the Lost Ark." (Trust me on this one.)"

"The money is already here—and has been for years. In the midst of a housing crisis, an injection of cash into the superheated real-estate market seems likely to cause an uptick in evictions and displacement."

"Parents concerned about YouTube debate whether to let their children have their own channels; some forbid it, others send them to summer camp..."

"‘I Had Completely Lost the Knack for Staying Alive..." Warmer weather brings daffodils, rhubarb at the farmer’s market — and, for some, despair."

"With his new book, Howard Stern proves that his rightful place is among the prophets and moral visionaries, not the ‘shock jocks’"

"I’m terrified of parenting in the anti-vaxxer age: Anti-vaccine propaganda isn’t just harmful to children. It threatens to erode our entire sense of community."

"...doctors are starting to think more about specific nutrients that feed tumor cells. That is, how what we eat affects how cancers grow..."

"...it represents an impressive achievement: a victory of humankind against the chaos that pervades the universe."

"If trends continue, in 20 years the majority of the world’s Jews will be living in Israel. The United States will see a continuing decline in overall numbers, with a growing observant Jewish population..."