BloggeRhythms

During Jimmy Carter's 1977 administration, T. Bert (Thomas Bertram) Lance, the Director of the Office of Management and Budget came up with the thought that “if it ain't broke don't fix it.' And that very well be the new POTUS’s belief regarding the offbeat tweets and throwaway comments he delivers continually.

In that regard, according to an article @news.grabien.com today: “President Trump is vowing massive tax cuts even greater than seen during the Reagan Administration.”

During an interview with Jesse Watters on Fox News, where Trump pledged to pass a tax reform package that consolidated income brackets and slashed rates, the following excerpt took place.: 

WATTERS: “The income tax rate, what are we talking about? What would you like to see the top rate be?”  

TRUMP: “Well we're going to get a big reduction, we're going to bring business down from 15% to 20% from 36% and 38% and higher in some instances. We are the highest taxed nation in the world. And we are going to bring taxes way down. And for middle income, we're also getting rid of brackets. We are going from 7 to 4 or 3 brackets. And that will be such a pleasure." 

WATTERS: "What would you like to see the brackets look like?" 

TRUMP: "Well I would like to see zero if you don’t make much. Like zero, and that's what it's going to be, it's going to be zero up to a level. Then it's going be 12.5%, 15%. It's going to be 10 percent. We're working on the different numbers right now. It will be the biggest tax cut since Reagan and probably bigger than Reagan." 

WATTERS: "Very good because I need the money." 

As a practical reality, however, according to reuters.com: “In a survey released last week, only 16 percent of about 1,000 business, tax and financial executives polled by accounting and advisory firm KPMG said they expected to see tax reform in 2017.” 

Therefore, in this case it’s more than likely that Trump knows full well that his tax reform goals not only have little chance of passage this year, they’ll also face huge, time consuming, Congressional battles on both sides of the aisle. Nonetheless though, the issue provides diversion which is something he thrives on, whereas it keeps others preoccupied.    

And while those others are debating wholeheartedly about future possibilities, Trump’s cadre of professionals are getting critically important things done in the here and now, unencumbered.

One such item was covered by Rainer Buergin, Jeff Black and Josh Wingrove @bloomberg.com who wrote: “Finance chiefs of the world’s largest economies set aside a pledge to avoid protectionism and signed up to a fudged statement on trade instead, in response to the Trump administration’s call to rethink the global order for commerce.

“Group of 20 nations said in a communique on Saturday that they are “working to strengthen the contribution of trade to our economies.” While the U.S. didn’t get all it wanted -- such as a explicit pledge to ensure trade is fair -- that’s a much pared-down formulation compared with the group’s statement last year, and  omits a promise to “avoid all forms of protectionism.” 

David McHugh, Business Writer @hosted.ap.org, titled a column on the same topic: “Top economies yield to US, drop no-protectionism pledge” 

In Mr. McHugh's piece, it was noted that U.S. Treasury Secretary Steven Mnuchin, was taking part in his first international meeting since being sworn in and said “the administration would be looking at relationships where the U.S. was buying more than it could sell to its partner, and would be more aggressive in seeking enforcement of existing rules that would benefit U.S. workers through the Geneva-based World Trade Organization. The WTO operates a system of negotiated trade rules and serves as a forum for resolving disputes.” 

Similarly, Alicia A. Caldwell also @hosted.ap.org, wrote about progress being made on the POTUS’s border wall pledge. 

“[N]otices were made public late Friday by Customs and Border Protection, the Homeland Security Department agency that will oversee the project and eventually patrol and maintain the wall. The proposals are due to the government by March 29.” 

So, it appears that although in office only 50 days, the new POTUS has learned much about how the entrenched establishment operates. At the same time, it’s quite possible that the establishment has yet to comprehend him. Which means that “if it ain't broke don't fix it.' will likely remain the POTUS's attitude until they do.   

That’s it for today folks. 

Adios