White House has started work on second round of tax cuts to boost growth, Mnuchin says

[Yo_Mama_Been_Loggin]

The White House has started work on a second round of tax cuts even as the budget deficit continues to grow, Treasury Secretary Steven Mnuchin said Thursday.

"The president has asked us to start working on what we call tax 2.0, and that will be additional tax cuts," Mnuchin told CNBC during an interview at the World Economic Forum in Davos. "They'll be tax cuts for the middle class, and we'll also be looking at other incentives to stimulate economic growth."

Talk of more tax cuts comes amid a swelling budget deficit that eclipsed $1 trillion for the 2019 calendar year. In addition, the total government debt recently passed $23 trillion, despite President Donald Trump's promises that economic growth would wipe out the deficit and pull down the federal IOU.

Mnuchin maintained that the tax cuts would pay for themselves even as growth as fallen well short of the administration's promises of 3%-4% annually. He did concede that the level of spending needs to be curtailed.

read:https://www.msn.com/en-us/money/markets/white-house-has-started-work-on-second-round-of-tax-cuts-to-boost-growth-mnuchin-says/ar-BBZfM31?li=BBnbfcN&ocid=hplocalnews

Because the national debt ain't big enough.

[TheCowsCameHome]

1. Yeah. "Re-elect Trump 2020" is the unofficial name

Scumbags, every one of them.

[Iliyah]

2. More taxes on the middle class and poor . . .

gutting SSI, Medicare, Medicaid. Destroying SNAP and more programs, and again giving a boost to the 1%ers.

Destroying more Unions, destroying the United States Post Office.

[kysrsoze]

3. Oh, great. More breaks for the wealthy/corporations on the backs of our kids

[doc03]

4. The bigger the debt all the more reason to cut

SS and Medicare.

[GeorgeGist]

5. Ain't gonna happen, Munchie.

[sakabatou]

6. Because the tax cut worked so well for the masses last time

[onethatcares]

7. "the level of spending has to be curtailed"

and you know gaud damned well it ain't gonna be curtailed on the military end. They're gonna use the Social Security Administration, Medicare, Medicaid, SNAP, funding for the arts and education and the rest of the items that benefit all of us to give the rich fuckers more and more and more.

talk me down,please?

[Cicada]

8. The real tax rate is the spending rate so Trump has raised taxes

Trump has sought and gotten a spending hike of 12.5%. His “tax cut” is a tax delay. He has changed who pays tho.

[Takket]

9. he said that same bullshit before the 2018 election.

[NCjack]

12. Yes, but the working class did not get that 2018 tax cut because we did not vote GOP. So, this

new tax cut will go to those who create jobs -- not those who work them. The super rich will get this icing on their cake.

[bdamomma]

10. George Carlin said it he predicted it

[BlueIdaho]

11. Trump also planning a second round of tariffs on European countries...

That along with the crippling debt generated by another tax cut should kill any growth that tax cut might generate.

[Wounded Bear]

13. Vote Blue! House will laugh that one off...

[VOX]

14. Rich people gotta eat.

They pay bills, too. It’s hard out there for Forbes 400 members.