ML-Implode News - Stockman: Trump's Tax Plan Never Had a Chance

"The gross cost is $7.5 trillion and that perhaps the government could earn back $2 trillion through loophole closing and base broadening. My argument is, after ruling out charitable contributions, home mortgages and a Congress that says they won't touch a health care exclusion... when you go through the math there is no $2 trillion that this Congress and Republican party will even remotely be able to put together."
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``When asked what tax areas that the White House and Congress should focus on he pointed, "You ought to put in place a consumption tax or a VAT (value added tax) and use it to pay for a sweeping payroll tax reduction that would put money in the pay envelope of the workers..."

He then urged that the fighting in Congress over the tax proposal in comparison to health care, "It will be worse. They'll never get it off the ground. Health care didn't get off the ground. They passed that in the House as a throw away gesture to say they've done something. It's dead before arrival in the Senate and will never see the light of day. Secondly, the Freedom Caucus says if you bring it back with â€˜one comma changed' we're going to vote it down."

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Stockman: Trump's Tax Plan Never Had a Chance