Monday, April 10, 2017

Tax Reform Cartoons





Russian compound in Nicaragua reportedly intrigues US officials


A new Russian compound in Nicaragua has reportedly intrigued U.S. officials who are skeptical of its intended use.
The outpost is located on the rim of a volcano and has a clear view of the U.S. Embassy in Managua, The Washington Post reported Sunday. The compound is littered with antennas and globe-shaped devices.
“I have no idea,” one woman who works at a telecom agency in Nicaragua said. “They are Russian, and they speak Russian, and they carry around Russian apparatuses.”
Current and former U.S. officials have expressed concerns that the Russian buildings could be used to spy on Americans and gather intelligence, while others see it as a countermove to the U.S. presence in Eastern Europe. Nicaragua has downplayed the concerns, telling the Post it is a tracking site of Russia’s GPS system.
“The United States and countries of the region should be concerned,” Juan Gonzalez, a former deputy assistant secretary of state for Western Hemisphere affairs, told the paper. “Nicaragua offers a beachhead for Russia to expand its intel capabilities and election meddling close to the United States.”
U.S. officials told the newspaper that there is no immediate alarm concerning the compound, but there are moves being made just in case. A State Department staffer at its Russian desk was named a desk officer in charge of Nicaragua, while diplomats with Russian expertise have gone to Nicaragua as well.
Russia’s influence in Latin America has increased over the last two years. Russia has sold military weapons and artillery to Venezuela, Peru, Argentina and Ecuador, while strengthening economic relations with Mexico and Brazil, the Post noted.
Security experts believe that Russia has nearly 250 military personnel in Nicaragua. Russia has been allowed to use Nicaraguan ports for its warships and Moscow gave 50 tanks to the country.

Trump Pushing Hard on Tax Cuts, Deregulation: Chief Economic Advisor Gary Cohn


President Trump has gone back to the drawing board on is tax reform as he looks for wide-ranging Republican support behind legislation to overhaul the tax system.
White House officials have said that it is unlikely a tax overhaul will meet the August deadline set by Treasury Secretary Mnuchin. The White House is trying to learn from the failure of enacting a new health care law to replace ObamaCare and take a more active role in getting legislation passed.
White House aides told the Associated Press Monday that the goal is to cut tax rates sharply enough to improve the economic picture in rural and industrial areas of the U.S. However, the administration so far has swatted down alternative ways for raising revenues, such as a carbon tax, to offset lower rates.
Trump has not said which trade-offs he might accept and had remained noncommittal on the leading blueprint for reform from Rep. Kevin Brady, R-Tex., the chairman of the Ways and Means Committee.
Brady has proposed a border adjustment system, which would eliminate corporate deductions on imports, to raise $1 trillion over 10 years that could fund lower corporate tax rates.
But that possibility has rankled retailers who say it would lead to higher prices and threaten millions of jobs, while some lawmakers have worried that the system would violate World Trade Organization rules.
Brady has said he intends to amend the blueprint but has not spelled out how he would do so.
Another option being floated around on Capitol Hill would change the House GOP plan to eliminate much of the payroll tax and cut corporate tax rates and possibly requiring a new dedicated funding source for Social Security.
The change, proposed by a GOP lobbyist with close ties to the Trump administration, would transform Brady's plan on imports into something closer to a value-added tax by also eliminating the deduction of labor expenses. This would bring it in line with WTO rules and generate an additional $12 trillion over 10 years, according to budget estimates. Those additional revenues could then enable the end of the 12.4 percent payroll tax, split evenly between employers and employees, that funds Social Security, while keeping the health insurance payroll tax in place.
This approach would give a worker earning $60,000 a year an additional $3,720 in take-home pay, a possible win that lawmakers could highlight back in their districts even though it would involve changing the funding mechanism for Social Security, according to the lobbyist.
Sen. Rob Portman, R-Ohio, a member of the Senate Finance Committee, said that all of the trial balloons surfacing in public don't represent the work that's being done behind the scenes.
"It's not really what's going on," Portman said. "What's going on is they're working with on various ideas."
The White House has not officially commented on any plan, but said in a statement but said a value-added tax based on consumption is not under consideration "as of now.”

Trump administration back to square one on tax reform


President Trump has gone back to the drawing board on is tax reform as he looks for wide-ranging Republican support behind legislation to overhaul the tax system.
White House officials have said that it is unlikely a tax overhaul will meet the August deadline set by Treasury Secretary Mnuchin. The White House is trying to learn from the failure of enacting a new health care law to replace ObamaCare and take a more active role in getting legislation passed.
White House aides told the Associated Press Monday that the goal is to cut tax rates sharply enough to improve the economic picture in rural and industrial areas of the U.S. However, the administration so far has swatted down alternative ways for raising revenues, such as a carbon tax, to offset lower rates.
Trump has not said which trade-offs he might accept and had remained noncommittal on the leading blueprint for reform from Rep. Kevin Brady, R-Tex., the chairman of the Ways and Means Committee.
Brady has proposed a border adjustment system, which would eliminate corporate deductions on imports, to raise $1 trillion over 10 years that could fund lower corporate tax rates.
But that possibility has rankled retailers who say it would lead to higher prices and threaten millions of jobs, while some lawmakers have worried that the system would violate World Trade Organization rules.
Brady has said he intends to amend the blueprint but has not spelled out how he would do so.
Another option being floated around on Capitol Hill would change the House GOP plan to eliminate much of the payroll tax and cut corporate tax rates and possibly requiring a new dedicated funding source for Social Security.
The change, proposed by a GOP lobbyist with close ties to the Trump administration, would transform Brady's plan on imports into something closer to a value-added tax by also eliminating the deduction of labor expenses. This would bring it in line with WTO rules and generate an additional $12 trillion over 10 years, according to budget estimates. Those additional revenues could then enable the end of the 12.4 percent payroll tax, split evenly between employers and employees, that funds Social Security, while keeping the health insurance payroll tax in place.
This approach would give a worker earning $60,000 a year an additional $3,720 in take-home pay, a possible win that lawmakers could highlight back in their districts even though it would involve changing the funding mechanism for Social Security, according to the lobbyist.
Sen. Rob Portman, R-Ohio, a member of the Senate Finance Committee, said that all of the trial balloons surfacing in public don't represent the work that's being done behind the scenes.
"It's not really what's going on," Portman said. "What's going on is they're working with on various ideas."
The White House has not officially commented on any plan, but said in a statement but said a value-added tax based on consumption is not under consideration "as of now.”

Tillerson, G7 ministers look to pressure Russia to reconsider Assad support

Secretary of State Rex Tillerson

Secretary of State Rex Tillerson, along with six other Group of Seven foreign ministers, aim to send Russia a “clear and coordinated message” in the wake of the U.S.’ response to a gas attack that left scores dead.
Tillerson, British Foreign Secretary Boris Johnson, Japanese Foreign Minister Fumio Kishida and the other ministers aim to pressure Russia to end its support for Syrian President Bashar al-Assad after a tumultuous week, which included the nerve gas attack and the U.S.’ airstrikes on a Syrian air base.
The U.S. received broad support from Europe after the airstrikes. Italian Foreign Minister Angelino Alfano, who is hosting the meeting, said the missile strike contributed to a “renewed harmony” between the U.S. and its partners ahead of the first meeting of G-7 foreign ministers since President Trump took office.
"'We need to remember that not 10 years ago, but 100 or 120 days ago, the concern in Europe was that the United States and the EU were moving apart," Alfano told Sky TG24 Sunday. "I welcome this renewed harmony."
With ties between the U.S. and Europe seemingly getting better, there has been no indication Russia and President Vladimir Putin was going to move from their position on the Assad regime in Syria.
Russia and Iran said in a joint statement Sunday that the countries would “respond to any aggression” in wake of the airstrikes in Syria.
“What America waged in an aggression on Syria is a crossing of red lines,” the countries said, The Sun reported. “From now on we will respond with force to any aggressor or any breach of red lines from whoever it is and America knows our ability to respond well.”
President Trump’s national security adviser H.R. McMaster said in an interview on “Fox News Sunday” that Russia should re-evaluate its support for Assad. He added that Russia will have to decide whether it wanted to continue backing a “murderous regime” as Trump weighed the next steps against Syria.
Tillerson is expected to meet with Russian Foreign Minister Sergey Lavrov after the G-7 meeting.

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