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West Wing Reads for 10/16/17

Summary: 
Each day we round up the best stories the West Wing is reading and share them with you.

West Wing Reads

CORPORATE TAX CUT WILL PROVIDE HUGE BOOST TO WAGES

- Joseph Lawler, Washington Examiner

The Washington Examiner’s Joseph Lawler reports President Trump’s goal of lowering the corporate tax rate from 35 percent to 20 percent will translate into $4,000 to $9,000 in the pockets of hardworking Americans. Citing a new analysis from the Council of Economic Advisers, Lawler reports “at the heart of [CEA Chairman Kevin] Hassett’s argument is the observation that, in recent years, countries with low corporate tax rates have seen higher wage gains than countries with high corporate tax rates.” Lowering the U.S. corporate rate will encourage companies to invest in America, rather than parking their profits overseas. Hassett calculates the 15 percent corporate rate cut could boost average household incomes from $83,143 in 2016 to as much as $92,222, with median household income rising from $59,039 to as much as $65,486, Lawler reports.
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In Forbes, Avik Roy writes President Trump’s two Obamacare-related policy announcements last week were anything but “sabotage” or a “gutting” of the health care law. He argues, “a sober, factual analysis reveals that the Trump decisions will be fairly modest – and largely positive – in their effect.”

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Newt Gingrich in Fox News argues why President Trump “did exactly the right thing Friday when he announced that he would renew sanctions on the Iranian regime and decline to certify the Joint Comprehensive Plan of Action (also known as the Iran Deal) negotiated by President Obama.”

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In The Wall Street Journal, Steve Milloy writes the “Environmental Protection Agency’s proposed repeal of the Obama administration’s Clean Power Plan is a milestone,” and that “No Republican administration has ever mustered the courage to roll back a major EPA regulation,” even ones with no economic or climate benefits.

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MarketWatch reports the Dow has “registered 48 record closes – its most all-time high finishes in a single year since 2013.” Why is the market headed higher? “Some of the recent gain has been attributed to optimism around President Donald Trump’s tax plan,” MarketWatch explains, adding “that enthusiasm centers on the belief that he will implement Wall Street-boosting measures, like deregulation and tax cuts.”