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Tommy, what could tax reform under President Trump look like?

Mar 27, 2017|

Tommy talks to Chris Edwards, Director of Tax Policy Studies at the Cato Institute, about what kind of tax reform we could see from President Trump.

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Automatically Generated Transcript (may not be 100% accurate)

Chris Edwards has to say director of tax policy studies at Cato and editor of downsizing government. Dot org morning Christopher. She's in formal version of your name out there it's okay. Coolant. Would I don't think it's like you're in trouble ring thing you know. A juvenile name. My him mentally richter is that Richard it is this house right now. At brings back some memories. We. And I tell me about this wouldn't do. Coming on the issue one question when it comes to. And an opening question I guess. When it comes to what happened over the weekend on a Sunday morning shows and with healthcare being yanked it no vote not enough votes senator. I heard that this was a big tax cut for the rich but I don't. Explain to me please how low the American health care act that was intended to repeal. And replace the affordable health care act AK a obamacare. Would have been in affected big tax cuts for the wealthy. You know I would I would disagree with characterization but you know obamacare with a giant big government all of the on both pack. Acting and then again probably increased federal spending. And it Napoli increased federal pac. Active so there was that new. Or what impact on on investment in common they're attacked the run insurance plan there are. You know everything from the funds and tax. Two. Medical device taxes so. It there was tons of hidden taxes and Obama care what you think work. Our general damaging him so I was glad that the they're Republican bill to repeal those tax and. When he initiated another question and and I'm not making this about me but I'm sure others have gotten a statement from their companies about their health care does that mean that is an essence attend any nine. And what they do in terms of this year that they pay for our health care's not taxable income. No biggie didn't do you know the basic production. There was debate through cattle the so called Cadillac tax where. Companies. In the future. Wouldn't be able to talk all they pay now for employee you know here. But down you know but most the most important right now there was still we deductible. And it would but I mean in terms of the employee that's not taxable income isn't. No that's right immigrants so you could certainly help they're employer provided health care generally exempt from taxation completely. You know the employer can deducted it and the individual and include better part of a ring com. But are they amassing statistics on this Chris and our information is that why I get this notice and mine had to put on my return. I don't know why you got that on your. Nolan I just got a notice from the company not just thought it might be something that a lot of people gotten some that I was amiss and when he comes to Donald Trump and tax cuts and momentum and lack therein and if you look at what happened with the health care bill. What kind of Donald Trump below what kind of health care cuts is president proposing do we know when. I don't know of anybody there wouldn't be in favor of men tax cut. Look I'm not that that the point where it is here. Boat failure. Was okay hill. It is that the you know read in the report the report on board to get it on that would president supposed to do he. He'd met schedule many members of congress he tried to make all the pieces fit together. And ultimately didn't work so I think there are a Republican tent where local directory group and again. To repeal of the union story. What people think that you probably going to be your the reform called the well it will be hard. They got he worked so. I'm not that it made it. Happened made up on deregulation. You know he's still committed to tax reform. And and Obama to repeal so. I'm not I think we gimmick I think we umi cloud. Did it you know it can't. Complete a lot of complex. Big government health it provisions intact. Provision is gonna take some effort to repeal. A mom let me tell idea considering new or the editor. Downsizing government dot org Jerry commissioner Donald Trump's son in law put in charge of the new. And in economy but it on him right now it's. The top of the enemy and now he streamline the government center so here's my concern the the little bit like. Reinventing government from 99 you can. You know I want it because of that that work efficiently if they. You know and coworkers more example. And the audit we increased the wiring greatly ought to make federal pay and benefit more on one of the private sector true. A couple of weeks ago you may remember Robby and of war. Go out that would quote reorganize executive branch. And that executive order would much more now in the government may actually eliminating programs community agencies. So I hope that our current strong keep the focus on the Venetian on making things more efficiently. I am for making things work patiently but that saved the big. Actually eliminating agencies. I'd as we seen you all on me anxious for a in terms of Chuck Schumer he says he's happy to work with Donald Trump. But as I read this article. I think one of their big problems is. Calling it repealing and replacing obamacare as opposed to. A different a different name I guess and I how much of this Chris is about. Preserving president Obama's legacy wild changing his signature achievement and how important is it. That Donald Trump get the help of moderate Democrats and and one more thing I'll ask you before LA chants are pretty jaguar opinion poll is asking people. Who's to blame for the healthcare bills for years it Republicans Democrats or the bill itself and as it stands now 45 per senators saying the bill itself forward what would you take. Yeah of course of course Obama to fail and the Indians implode in sort of load that it caught. Carpet in recent years because in the big government central planning. Mine outlined originally. So it's not Republicans are sure that the people thing now because of the vote didn't proceed on Friday that that problem with. I don't think so I think that the yardstick Republican the the leader leading moderate and conservative Republicans in Rome they they. Camera. Compromise that they all agreed to get it through congress. Com. You know we can make. The likely they do it is it is it is a sense. That they did. So take the effort to a two departures beat you guys do to get together. You know not being you know cotton reform their memory the I think he ought to keep hammering there's a lot of onto a new president can do. Trump but he trumpet shall with the effort they can do it he's willing to do it. I actually like that I would impressed with the effort he put into it is put into. He's got to keep he's got to keep working and and and crushing it Republican voters are counting on on them to repeal obamacare. Replete with Bob. They keep working on. Let me assure a quick what would you do if you are watching tape of him. You know and as a hypothetical like a football game or some and if you were to improve his. Arm twisting technique will would you advise him to do next time in terms of cajoling these legislators. I need to work. The them some of them seem to oppose the bill would not agree that seem to me. I think that for the conservative movement in the freedom Crocker are raising good points. And I think I'm gonna movement interactions and the audit their their debate in ninety entangled. In the media get them on board. I'll be you know proud of the legislative. Priorities they want taken care of another word log rolling and were gonna do it way here in the present and try to get them on board. On now to reform. Right ankle and other duties and funneled down the road. That they you know that there where. Thank you Chris appreciate your time talking again. Christopher Richard Edwards director of tax policy studies that Cato and editor of downsizing government oh.