TRUMP OKAYS CHINESE CHICKEN IMPORTS 5-13-2017

About the time Trump does something correct, like sack the traitor Comey, he then does several things wrong, like meeting with the war criminal Henry Kissinger, or opening the USA to imports of toxic Chinese food. My opinion on Comey is buried on this site, from about July of 2016 I think, so I have no issue with Trump sacking that scumbag, nor do I find the hysterical Democratic reaction to it anything but comic entertainment. I was in the US Army back during the original “Saturday Night Massacre” with Nixon and Archibald Cox, so to compare Trump firing Comey to Nixon firing Cox is just another example of Marxist folly.

Trump is willing to allow the import of food products from a China that has produced multiple examples of toxic, lethal food and drug products that have KILLED PEOPLE. This ranges from toxic pet food, toxic milk products, toxic blood pressure medicine among other things. And Trump now wants to import “cooked poultry” and unleash this Chinese filth on grocery store shelves. Trump has gone over the line on this for me: I am definitely off the Trump train. The combination of allowing toxic Chinese food products to be sold in the US, along with a brazen Oval Office meeting with a WAR CRIMINAL LIKE HENRY KISSINGER IS SIMPLY TOO MUCH FOR ME. Kissinger is the one who sold out South Vietnam, the Kurds in Iraq, and the people on East Timor.  Kissinger is personally, directly responsible for creating policies that led to the deaths of millions of people in South East Asia, and Iraq for starters. For Trump to meet with him, at the White House is intolerable to me. Face it, Trump is now full neo-con warmonger mode and has sold out to the Deep State.

Anybody who buys and eats ANY Chinese food product is taking their life in their hands. If you don’t believe me, then do some research on how many people Chinese food and medical products have killed over the years. In fact, the idea of importing chickens from the place where the bird flu began is the kind of thing only Trump would think of. I mean are you going to trust you, or your families lives, to Chinese food inspectors and quality control? Seriously? Trump just okayed Chinese food products to be sold when he knows China produces such food products on toxic, contaminated soil, using toxic water, and under conditions of maximum filth and disease. People, why do you think it is China where the bird flu began? It is because they are where the pollution is, the corruption is, and the filth is. You are going to eat a cooked chicken, grown in a filthy, disease ridden “farm,” and processed in a plant full of bacteria and virus? Well, it is called the Darwin Award for a reason. Consider yourself warned, assuming Trump has them even label the “processed poultry” as made in China. All this means for me is I will be even more diligent regarding so called food products from China. As for Trump, I think the Marxists are going to hound him to death and pull him down like a pack of wolves on a Bison. If all I can get out of him is some more conservative judges, some pedophile investigations, and some EO’s repealing the worst of Obama’s folly, then that is the best I can hope for. Trump is no different than Hellary on Syria, Afghanistan, Ukraine, and will likely bait Little Fat Boy into a Korean War. All in all, Trump has fallen prey to his New York City cabal of Kushner and Ivanka, the banksters, Wall Street Whores, and assorted globalist stooges with little prospect that will change. Just don’t eat the Chinese chicken, realize Trump is a loud mouthed, ego driven, New York City huckster, and we will at least have fun until the end happens. Trump is still better than Hellary, but he has proven to be a major sell out  on so many levels.

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

YOU CAN KISS FRANCE GOODBYE! 5-7-2017

The failure of Le Pen to be elected in France means France will now undergo the final spasms of collapse on all levels. Granted, the election fraud was clearly visible, with the torn ballots among other things. It is also true most French voters didn’t even bother to vote, and of those who did vote for Macron, nearly one half of them were in reality voting against Le Pen. This means Macron, the globalist stooge, doesn’t really have a very large base of support. It will be interesting to see the results of the June elections to see what kind of politicians Macron will have to deal with. One possibility is for Le Pen’s party to win significant support in the French Parliament. Now, that would be interesting to see how that plays out. It would be like the liberal version of Ronald Reagan, with the House and Senate being controlled by Democrats. We shall see, but this is a dark day in France.

The links to various news stories are here.

http://www.dailymail.co.uk/news/article-4482380/Emmanuel-Macron-set-France-s-youngest-president.html

https://www.yahoo.com/news/third-french-voters-spoiled-ballots-abstained-232518210.html

 

Here are some comments I made over at timebomb.

First, France isn’t going to make it to the next election cycle in 2022 or whenever. Second, the social collapse will now speed up significantly. Third, the structural abyss between Le Pen’s supporters and that globalist stooge Macron will now be solidified. Fourth, Macron may very well be destroyed in office over the next six months as further revelations of corruption are exposed. Fifth, Le Pen is now fully in control of the police, the paramilitary and military in France. Assuming the collapse gets worse and speeds up, which is certain, I do not rule out a military coup d’ etat in France.

The muzzies are going to go nuts now. Since Le Pen was crushed, with widespread voter fraud and election corruption, Macron has lost all credibility, especially as the corruption scandal gains traction.

France is now a bitterly divided nation, with the actual people who have guns, firmly in support of Le Pen. It is a sad day for France. The abyss looms for them all. Macron will no doubt have to deal with increased terror attacks, and the military and police may very well turn on him without mercy. De Gaul came to power on a nationalist salvation platform back in the 1960’s. This was shortly after a coup attempt from a military pissed off about the loss of Algeria.

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

Something Macron should keep in mind is the majority of police, paramilitary and active duty military voted for Le Pen. Decisive majorities in all three groups in fact. This means their is SERIOUS DISCONNECT between the new globalist, muzzie loving, terrorist attack tolerating Macron and his intelligence and military forces. Housecarl, all revolutions require three things to prosper.

First, they must have the aid of a foreign power who supports them for their own reasons. The American Revolution was won due to French support to screw with the English. Cornwall was trapped at Yorktown between Washington’s land forces and the French fleet off shore.
Second, they need a secure area to regroup, resupply and avoid being bombed to pieces.
Third, they need the active support of 10 percent of the total population, along with the tacit support, or at least tolerance of another 25 to 50 percent. The final fifty will be split between people willing to fight them, and people who are neutral. The US Revolution had 5 percent actively fighting, another 10 to 15 percent in support, another one third as tories, and about 40 percent trying to duck and cover.

If France goes into full meltdown mode, which is now confirmed in my view, Le Pen will have a solid ten percent support, plus the armed support of nearly 2 out of 3 active duty military, police, and paramilitary. I am saying, Housecarl, that when, not if, when the Muzzies go into full meltdown, terror attack mode, it will be the military, police and para military types who will DIE FIGHTING THEM. Ergo, Macron will not be a credible military anti terror leader and the above forces “may” decide that he needs to go, just like the French military and Foreign Legion decided the civilian government in France that abandoned Algeria “needed to go.”

Again, it is all about WHO IS TRAINED WITH FIREARMS AND WHO HAS THEM. For one thing, I remember that France just passed a law, I think, creating a 100,000 strong “home guard” type of force, that will be 100 PERCENT PRO LE-PEN.

Oh yeah, car bombs, suicide bombs, truck drivers smashing into school buses and Macron may find himself removed from power, and when the Muzzies riot, to quote Napoleon, ” a whiff of grapeshot” will be headed their way.

The only thing this election did, besides confirming the massive corruption of Macron and the election officials, is to convince the above groups that political change is not possible, and when they make that decision, then revolutions happen.

Doomer Do

PUTIN TRUMPS TRUMP IN SYRIA 5-4-2017

Trump isn’t really doing very well this week. First, he got played by Lying Ryan, Schumer and gang into abandoning his core promise of building a border wall. Sorry, but that ain’t going to happen, so we can just add it to the long list of betrayals Trump has done his first 100 days. Still, I voted for him, had some hope for him, and am bitterly frustrated Trump turned out to be a New York City, Liberal Democrat, with a big mouth and an  even bigger ego. I guess Trump won’t figure out how badly he has damaged himself until he goes to one his rallies and nobody shows up.

If there is one foreign policy place where Trump staked his reputation, it was Syria. After all, as after dinner entertainment for the Chinese Prime Minister, Trump sent 60 missiles to blow up a Syrian Air Base, based on flawed intelligence from the alphabet agencies that despise him, and lie to him daily. The result was the real adults in Syria; namely, Iran, Russia, Turkey and Assad decided they had enough of Trump’s ego. The result is today’s press release saying that Iran, Turkey, Russia and Assad have now subdivided Syria into “no fly zones,” and the US is no longer a factor in Syria. Trump, or more likely his neo-con warmongers filling his cabinet and agencies, must not have got that memo. Assuming Trump is even being notified of what his neo cons are up to, which is questionable, the US has now deployed significant military assets DIRECTLY ON THE TURKISH BORDER WITH NORTHERN SYRIA. In other words, the US is now in a proxy war with a NATO member run by a raving lunatic, Erdogan, who just got voted as dictator until 2026. Yep, Trump sure negotiated a good deal out of that one.

Putin, well Putin is licking his chops, Iran is sneering at us, and Turkey is digging new artillery positions on its  border in preparation for the war they know is coming in Syria. The whole reason all of this overthrow Assad Junior stuff started was because the globalist, neo cons wanted a oil/natural gas pipeline from Quatar to Europe in order to cut off Russian gas and oil deliveries to Europe. From such globalist mind games, we do end up with shooting wars. Well, Putin has just derailed that completely with his no fly zones that prevent the USA from doing much of anything in Syria. Russian and Iranian COMBAT FORCES are now openly deploying into these no fly zones. You can be sure they will be defended with the S-400 air defense systems, which rules out any more Trump missile attacks, or Israeli bombing attacks, although whether Turkey will keep bombing the Kurds is an open question.

 

Putin is plus one hundred on this, since he has now met all of his goals in Syria. Iran is a plus 200 on Syria, since they not only have met all their goals in Iraq, Syria, but they got that cretin and traitor Obama to pay them several billion dollars in cash and gold. Oh yeah, Iran is a huge winner with this announcement today.

The link is below.

https://www.rt.com/news/387105-syria-talks-safe-zones/

 

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

Russia, Iran, Turkey sign agreement on creation of Syria safe zones

BYE, BYE MUNICIPAL BOND MARKET 5-3-2017

In between the ongoing social anarchy, Soros funded sedition, congressional folly, looming war with North Korea, we can now add the official collapse of Puerto Rico’s 70 billion dollars worth of debt/bonds. It only takes one rock falling to start an avalanche. While $70 billion, in a sea of derivatives, bonds and debt that rises into the hundreds of trillions, may seem like small fry, Puerto Rico now calls into question the entire US bond market at the city, county, state and federal level. Puerto Rico has brazenly borrowed a truly obscene amount of money, squandered it, and has near zero ability to pay it back from current revenue. Of course, that means Lying Ryan, who has had his corrupt paws over the so called bailout, is going to have to come up with some more money. We see in our liberal cities, and places like the third world cesspool Puerto Rico just what happens after decades of liberal Democratic Party control of finances. The Republicans are equally squalid of course, but it takes a Democratic City Mayor, or governor in the case of PR, to really screw things up.

Obviously, the bonds were mostly sold to pension funds, or bundled into toxic debt bonds, so the people who ended up owning them will get screwed also. What the result of that will be is to call into question whether any municipal bonds can be repaid. It will clearly also limit the ability of government entities, ranging from cities and counties, to utilities, colleges, schools, and pretty much any government blob that wants to fund repair, or overhaul of say, a sewage or water system. Portland, Oregon, after spending a bunch of money to clean up the riot debris, has a school bond for $700 million on the ballot. Well, the backblast from PR may mean the interest rates will be higher. The reason being the risk for people buying municipal bonds  just went up and buyers will charge an interest premium to cover that increased risk. Face it, the USA is, and has been for decades now, functionally in default due to the trillions in UNPAYABLE DEBT. Yes, Virginia, the $20 Trillion Federal debt is never going to be paid off, anymore than the vast amount of student loan debt, or bond debt will ever be. PR is merely the shot over the bow of the USS Default. I see it is being called a “restructuring of debt.” LOL It is a default plain and simple.

The link is here.

http://www.zerohedge.com/news/2017-05-03/puerto-rico-seek-bankruptcy-protection-launching-largest-ever-us-municipal-debt-rest

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

 

Puerto Rico Files For Bankruptcy Protection In Largest Ever US Municipal Debt Restructuring

Update: PUERTO RICO FEDERAL BOARD FILES BANKRUPTCY CASE IN U.S. COURT

* * *

As per our report last night that following the expiration of the litigation freeze, Puerto Rico’s creditors had filed a barrage of lawsuits against the insolvent Commonwealth a bankruptcy was imminent,  moments ago Puerto Rico’s governor announced the commonwealth will request bankruptcy protection of a portion of the island’s $70 billion in debt, setting up a showdown with Wall Street firms owed billions of dollars, in what will be the largest-ever U.S. municipal debt restructuring and further complicating the U.S. territory’s efforts to pull itself out of a financial crisis.

The Puerto Rico restructuring would be far larger than Detroit’s record-setting bankruptcy, with little to no details how long a court proceeding would last or what cuts would are imposed on bondholders. The island’s financial recovery plan covers less than a quarter of the debt payments due over the next decade.

Cited by AP, Gov. Ricardo Rossello said Wednesday that a federal control board overseeing the island’s finances has agreed with his request to put the debts before a court. He told reporters that he has requested that the U.S. territory’s federal financial oversight board commence a Title III proceeding under last year’s Puerto Rico rescue law known as PROMESA. Title III is an in-court debt restructuring process similar to U.S. Bankruptcy.

“We have reached this decision because it protects the best interests of the people of Puerto Rico,” Rossello said.

“The board has agreed to submit Title III protection immediately and they will submit it.”

According to the WSJ, “the governor said he would petition Puerto Rico’s federal oversight board to invoke a quasi-bankruptcy law that puts its standoff with creditors before a judge. His decision marks the start to what could be a lengthy legal fight as Wall Street watches closely to see how other indebted municipal governments may fare in confrontations with investors.”

As a reminder, Puerto Rico and its agencies owe $73 billion to creditors, dwarfing the roughly $18 billion owed by the city of Detroit when it entered what was previously the largest municipal bankruptcy in 2013.

Finally, Bloomberg notes that the financial collapse promises to impose deep losses on bondholders who for years snapped up Puerto Rico’s securities, even as the government contended with a shrinking economy and chronic budget shortfalls. U.S. states can’t file for bankruptcy, and investors bought the bonds assured that it wasn’t a legal option for Puerto Rico either.

BBG further adds that Rossello’s latest offers to creditors last week shows the commonwealth believes general obligations should receive a better recovery than its sales-tax bonds. The latest proposal offered as much as 90 cents on the dollar to general-obligation bondholders. One such bond due in 2035, was among the most actively traded at a price of 66, up from 64.7 on Tuesday.

PORTLAND SNOWFLAKES RIOTING AGAIN 5-1-2017

SECOND UPDATE: It looks like Downtown Portland really got lit up today by the Soros funded terrorists. One police car destroyed, multiple fires set, much damage to property included smashed windows. The link to PPD Twitter is here.

UPDATE: The Portland Police have now arrested up to 24 rioters. The link is here.

http://www.kgw.com/news/politics/may-day-protests-expected-monday-in-portland-across-us/435436532

The Snowflakes in Portland are at it again. The May First chaos is now unfolding all around me here in downtown Portland. We have several different demonstrations ongoing. We have the illegals, the Snowflakes, the anarchists and the anti-Trump crowd. They are wandering around downtown, screaming “Get out of the Way,” and other slogans. The Portland police have been liberal in their use of flashbangs and tear gas. At least one fire was set by the “demonstrators,” down on 4th and Morrison. Right now, I can hear the police using loudspeakers ordering the rioting mob to disperse. This I can hear as I type this. Like I said, it is all around me. The riot police have deployed several times, and I just heard two more flashbangs. The demonstrators are also using M-80’s in response.

At any rate, I fully expect near total chaos when the warm weather of summer arrives. Soros, the author/funder of all our troubles will make sure of that. Why Sessions hasn’t thrown Soros in jail is beyond me.

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

NORTH KOREA GIVES TRUMP THE FINGER 4-28-2017

Today’s North Korean missile launch can only be viewed as a direct middle finger to the rest of the world. After all, Little Fat Boy has to realize, in that psycho mind of his, that the rest of the world, especially China, Russia, the USA, South Korea and Japan are seriously annoyed with him. The total response of North Korea has been the diplomatic equivalent of the digitally erect middle finger. He knows we are upset; Little Fat Boy doesn’t care. I will also add the actual process of creating an ICBM long range, accurate missile capable of vaporizing Los Angeles, or Portland where I live, is sequential. My analysis of North Korean missile activity tells me Trump is correct: Little Fat Boy is indeed seeking to create a functional, long range ICBM missile. The reason I know this is because I look at what Little Fat Boy is doing. First, Little Fat Boy detonated a nuclear warhead in a tunnel. Next, Little Fat Boy tested missile engines; finally, Little Fat Boy has launched multiple missiles of various sizes and ranges, including long range ICBM types capable of hitting the US West Coast.

The USA took years, decades really, to perfect the long range, highly accurate, ICBM missiles we now have. We tested the missile engines. We tested the actual missiles. We tested the nuclear warheads on those missiles. It is a simple fact that there is a sequential, step by step process to develop long range ICBM missiles. And guess what, my blog readers, Little Fat Boy is now engaged in that step by step process in order to deploy a truly functional, accurate, long range ICBM with a credible nuclear warhead on it. So, this is what all “this” North Korean stuff is really all about. Little Fat Boy wants the ability to vaporize Los Angeles and that is all there is to the story.

Here are some links about the current North Korean situation.

https://www.aol.com/article/news/201…ea-p/22059127/

Here is some potentially good news.

https://www.washingtonpost.com/world…853_story.html

North Korea Test-Fires Another Ballistic Missile

by Tyler Durden
Apr 28, 2017 5:13 PM
http://www.zerohedge.com/news/2017-0…listic-missile

Just when you thought it was safe to sink into a tall glass of beer as US government
shutdown was avoided, South Korea’s Yonhap News reports that the South Korean
military has confirmed that North Korea has test-fired another ballistic missile
.

I thank all of you who have either bought my e-books, or made a Paypal donation in the about section. It means I won’t have to sleep under the bridge any time soon. <G>

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU

TRUMP SCORES A BIG HIT 4-26-2017

Trump is really starting to annoy me with his constant flip-flops followed by sound policy decisions, intermingled with comments from the Rasputin couple; namely, Jared Kushner and Ivanka Trump. It feels like riding one of those monster roller coasters that leave your stomach in the air while you hurtle down. When Trump is in is populist mode, I like him; when he is in his neo-con warmonger, globalist stooge, bankster, Wall Street whore mode, I dislike him intensely. At any rate, the various links below will highlight Trump’s two steps forward, and one step backward modus operandi.

First, we have Ivanka Trump apparently deciding she is in charge of the refugee program and it is good to allow a tidal wave of Syrian refugees to enter the USA. I must have missed the memo allowing her to make refugee policy. I also missed the memo on Jared Kushner going to Iraq and acting like the Secretary of State. The link is below.

http://www.breitbart.com/video/2017/…ugh-by-itself/

Ivanka Trump: Opening Border to Syrian Refugees ‘Has To Be Part of the Discussion,’ Won’t Be Enough By Itself

During a portion of an interview broadcast on Wednesday’s edition of NBC’s “Today,” Ivanka Trump said that opening the border to Syrian refugees “has to be part of the discussion, but that’s not going to be enough in and of itself.”

Ivanka said, “I think there is a global humanitarian crisis that’s happening, and we have to come together, and we have to solve it, and –.”

She was then asked, “Does that include opening the borders to Syrian refugees in –?”

Ivanka responded, “That has to be part of the discussion, but that’s not going to be enough in and of itself.”

Next, we have the ongoing budget/shut down the government farce. Trump is again listening to Lying Ryan with the predictable negative results. Trump is apparently okay with no border wall funding, funding of both Obamacare and Planned Parenthood. The link is here.

Flipper-In-Chief: Trump Caves On Obamacare Subsidies To Avoid Government Shutdown

http://www.zerohedge.com/news/2017-0…riday-shutdown

Flipper-In-Chief: Trump Caves On Obamacare Subsidies To Avoid Government Shutdown

Finally, some good news from Trump. His newly released tax plan is, in my opinion, brilliant. It fulfills his campaign promise to provide tax relief to the working poor and the middle class. First, a few facts related to who pays Federal Income Tax. The basic income groupings in the USA today are $18,000, 36,000, 72,000, 115,000 and finally, 250,000 dollars. The vast majority of American taxpayers are from these five groups. I believe, as in read it somewhere a while ago, one half of all taxpayers earn less than $36,000 per year. It may even be one half earn less than $18,000. At any rate, some 90 percent of all American taxpayers earn less than $115,000, and it may even be $72,000 per year. The only thing George Bush junior did of any value was to increase the standard deduction and personal exemption to $10,000 way back in 2001 or so. By doing this, he removed a chunk of low income workers, ie the working poor, from the tax rolls. Trump has taken this idea of tax equity and run with it.

As I understand it, and the details are still being hashed out, Trump is going to raise the amount of income that triggers any tax to $24,000 per person. This will allow Trump to remove millions of low income working poor and lower middle class wage earners from paying any federal income tax at all. Further, it will be a significant reduction for married couples with two children. If you do the math, it means every single worker who earns $18,000 or less will owe not one dime in federal taxes. Further, by eliminating all deductions, other than the home and charitable ones, he will vastly simplify filing income taxes. Granted, the high tax states, all blue states by the way, will lose their ability to deduct state taxes from income. I have no problem with that at all.

The result of all this will be people making $18,000 will pay no taxes. People that make $36,000 per year, which is nearly one half of all taxpayers if my figures are correct, will only pay a fifteen  percent tax rate on one third of their total income. They will pay taxes on $12,000 dollars out of $36,000. The $72,000 per year will also likely pay either a fifteen percent to twenty five percent rate on only two thirds, $48,000, of their income. I assume everybody over $115,000, or maybe $250,000 will pay the reduced tax rate of 35 percent. Again this is a massive tax reduction of both individuals and families. The typical four person family, Dad, Mom and the two kids will shield the first $96,000 of their income from ANY FEDERAL INCOME TAX. People making under $24,000 will pay NO FEDERAL INCOME TAX AT ALL. People making between $24,000 and $240,000 will also pay less income tax because they will pay a lower rate, on less taxable income. Like I said, this is BRILLIANT. Trump scores damn near a home run on this. The Democrats, well the Democrats are going to choke on their usual “cut the taxes on the rich mantra.” The reason is most of the tax benefits will go to workers earning less than $24,000 per year, which is exactly where the populist Trump needs it to be. The corporate tax rate will be cut from 35 percent to 15 percent. I also have no problem with that because it will bring back literally TRILLIONS of dollars worth of corporate profits stashed in overseas banks. After all, the reason the money is there is because they refuse to pay the current 35 percent tax rate. Again, the corporations may decide to leave the money overseas, but Trump is correct that it is reasonable to assume they will “repatriate” it.

The links are here.

#BREAKING: Trump proposes sweeping tax reform with major cuts to individuals and businesses http://hill.cm/4IM5ZAC

http://www.fox10phoenix.com/news/250872445-story

WASHINGTON – (AP) — President Donald Trump is proposing “the biggest tax cut” ever, even as the government struggles with mounting debt, in an effort to fulfill his promises to stimulate job creation and middle class prosperity.

White House officials on Wednesday were to release broad outlines of a tax overhaul that would provide massive tax cuts to businesses big and small. The top tax rate for individuals would drop by a few percentage points, from 39.6 percent to the “mid-30s,” according to an official with knowledge of the plan.

Small businesses would see their top tax rate go from 39.6 percent to the proposed corporate tax rate of 15 percent, said Treasury Secretary Steven Mnuchin in a Wednesday morning speech.

Mnuchin said the proposed overhaul would amount to “the biggest tax cut” and the “largest tax reform” in U.S. history. He said the lower tax rate for small business owners — a category that under current legal definitions could include doctors, lawyers and even companies such the Trump Organization — would not be used as a loophole for the rich to reduce their tax burden.

But the Treasury secretary declined to say there would be no absolute tax cut for the wealthy, a promise he made last year during a TV interview. “Our objective is simplifying personal taxes,” he said.

The plan will not include provisions to increase spending on infrastructure projects, one possible sweetener that could help gain congressional support.

The proposal faces a massive hurdle in that lower rates would blow a hole in the budget, possibly causing the national debt to soar by more than a trillion dollars over a decade.

Without additional revenue sources to offset the tax cuts, the broad proposal would need Democratic support to clear the required 60 votes in the Senate. Congressional Republicans could pass changes on their own with a simple Senate majority, but that would only be temporary under Senate rules.

Mnuchin said he would like the tax overhaul to be permanent, but “if we have them for 10 years, that’s better than nothing.”

Doomer Doug, a.k.a. Doug McIntosh now has a blog at www.doomerdoug.wordpress.com
My end of the world e book “Day of the Dogs” will soon be available for sale at smashwords. The url is
https://www.smashwords.com/books/view/267340 It is also at the following url
http://www.amazon.com/-/e/B007BRLFYU