Trump vs. The Tax Code

 
President Trump's efforts to reform the tax code got a big boost late last week.  Thursday night, the Senate voted 51-to-49 to approve a budget.  This was an essential first step as the budget includes "reconciliation instructions" for cutting taxes and reforming the tax code, free from the threat of a filibuster.    
 
Now it is up to the White House and congressional Republicans to hammer out the details, and there have been many rumors swirling around Washington about what will and will not be included in any final deal. 
 
For example, while the president's outline called for three tax brackets, there has been talk about a fourth bracket for millionaires.   There was also a lot of coverage this weekend about Congress dramatically scaling back the amount of money individuals could save for retirement through 401(k) plans. 
 
Currently, workers under 50 years old can save $18,000 a year in tax-deferred 401(k) accounts.  Those over 50 can save up $24,000 a year.  The New York Times reported that some in Congress want to limit retirement savings to just $2,400 a year. 
 
This morning, President Trump tweeted, "There will be NO change to your 401(k). This has always been a great and popular middle class tax break that works, and it stays!"
 
Yesterday, President Trump made the case for tax reform in an opinion piece in USA Today.  Noting that Sunday was the anniversary of President Reagan's 1986 tax reform measure, Trump wrote that reforming the tax code was a moral imperative.  Here is a brief excerpt:
 
"We are now among the highest taxed nations in the developed world. Our tax code and laws have nearly tripled in length since the 1986 reforms. They now span 2,650 pages, with another 70,000 pages of forms, instructions, court decisions, and other guidance. . . 
 
"Revising our tax code is not just a policy discussion — it is a moral one, because we are not talking about the government's money – we are talking about your money, your hard work.  According to the Tax Foundation, taxes cost Americans more out-of-pocket than housing, clothing, and food — combined.  Somehow, this has become 'normal' in the Land of the Free, but it should not be."
 
You can read President Trump's case for tax reform here.
 
 
 
Russia Scandal Widens
 
Robert Mueller's investigation of Russia's meddling in the elections has taken a surprising turn.  Washington was rocked this morning by reports from NBC News that Mueller's team is investigating the powerhouse lobbying firm founded by Tony Podesta, described by the New York Times as "one of Washington's biggest players."  
 
The Podesta Group reportedly conducted lobbying and public relations campaigns on behalf of the European Centre for a Modern Ukraine (ECMU) from 2012 to 2014.  Paul Manafort, who briefly served as Donald Trump's campaign manager, oversaw the operation.
 
According to NBC, "The investigation into Podesta and his company began as more of a fact-finding mission about the ECMU and Manafort's role in the campaign, but has now morphed into a criminal inquiry."
 
If the Podesta name sounds familiar, it should.  The Podestas are denizens of the DC Swamp.   Tony's brother, John, served as Bill Clinton's White House chief of staff and ran Hillary Clinton's 2016 campaign.  There is no indication that John Podesta is under investigation. . .  yet.
 
It turns out that John Podesta served on the board of a green energy company that bet big on Hillary Clinton winning the 2016 election.  The company, Joule Unlimited, shut down in August.  Joule Unlimited was heavily financed by Russian investments.  So much so, in fact, that three of its board members have ties to the Kremlin.
 
In other Russia-related news. . .
 
Two top officials from Fusion GPS, the left-wing opposition research firm that produced the so-called "Steele dossier" on Donald Trump, refused to testify before the House Intelligence Committee last week.  Fusion co-founder Peter Fritsch and Thomas Catan pled the fifth on every question they were asked.
 
There are also reports that Fusion GPS is in court trying to block other congressional subpoenas aimed at uncovering the truth behind Fusion's smear campaign against Trump. 
 
This is important because the "Steele dossier" served as evidence to justify many of the ongoing investigations into President Trump.  Yet Fusion GPS and, sadly, the FBI are stonewalling congressional investigators.
 
Meanwhile, we are learning more about the extensive Russian efforts to influence the Clinton Foundation and gain access to then-Secretary of State Hillary Rodham Clinton.  Once again, it's worth remembering that Robert Mueller was director of the FBI when the Uranium One deal took place.  Some are suggesting that Mueller should recuse himself from the investigation he now leads.
 
 
 
Another Obama Scandal
 
Just when you think the Russia scandal can't get any weirder, it takes another bizarre turn.  Rep. Trey Gowdy (R-SC), chairman of the House Oversight and Government Reform Committee, dropped a bombshell on Fox News recently, but it hasn't gotten nearly the attention it deserves.
 
You may recall that many in Washington were stunned by the news that former U.N. Ambassador Samantha Power was responsible for hundreds of unmasking requests -- identifying U.S. citizens in classified intelligence reports -- during the final days of the Obama Administration.  Keep in mind that this is supposed to be a very tightly controlled process. 
 
So why was the U.N. ambassador unmasking (spying on) U.S. citizens on a daily basis?  That is something that intrigued Rep. Gowdy.  But during an interview with Bret Baier, Gowdy said this:
 
"I think if [Samantha Power] were on your show, she would say those requests to unmask may have been attributed to her, but they greatly exceed by an exponential factor the requests she actually made.  So, that's her testimony, and she was pretty emphatic. . .  
 
"We've got to get to the bottom of that.  If there is someone else making [unmasking] requests on behalf of a principal in the intelligence community, we need to know that."
 
Not only was the sheer number of requests unprecedented, but now we know that either Power committed perjury or the requests were illegal.  Somewhere along the way, the safeguards in the unmasking process clearly broke down and in a major way.
 
Members of Congress and honest journalists should demand answers regarding the Obama Administration's political abuse of our national intelligence agencies.