In an interview with the New York Post, Larry Kudlow, director of the president’s National Economic Council talked more about the second round of tax cuts that might be coming.
J.T. : Where are you guys at on the second round of tax cuts? What’s the thinking behind it?
L.K.: Several months ago, there had been some loose talk about capital gains and indexation and payroll taxes and things, and I went down and had a chat with the president and said, how about we create a study process, and we’ll call it “Tax Cuts 2.0.” And he liked it a lot.
You know, we’re very proud of what we call the Blue-Collar Boom. The middle and lower wage earners’ wages are growing faster than their managers’.
They’ve had a 47% increase in their household net worth from stocks and their homes. Whereas the top 1% has increased their net worth by only 13%.
When we designed the business tax cuts in late 2015 and early 2016, we were using a theory that the biggest beneficiaries of business tax cuts were not the wealthiest; in fact, they would be the workers. And that’s exactly what’s happening, and it’s an absolute key part of our story.
Before the 2018 midterms, another round of tax cuts was being talked about:
We need another round of Tax Cuts. Hardworking Americans are tired of watching their hard-earned money being wasted by the US government. They are also tired of Republican Administrations not pushing tax cuts for them in any real way.
Trump’s Tax Cuts gave 80% of Americans a Tax Cut but that doesn’t mean it is enough. The true way to help the American people is to allow them to spend their own money and not the government.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri two years ago at the age of 19. Since its founding, it has gotten over 1M pages views and over 20k followers. The Palmieri Report is dedicated to debunking the lies spread by the left-wing Mainstream Media.