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Outflanked XI: A Most Capital Outflankening

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Comrade Trump offers up some more social democracy:

The Trump administration is considering a wide range of tax-cut proposals for businesses and investors in the next coronavirus response bill as it tries to shift from government spending programs to support the economy toward measures that aim to reinvigorate growth.

The list of ideas under discussion includes a reduction in the capital gains tax rate and measures that would allow companies to deduct the full costs of any investments they make now or in the future, according to administration officials and several outside experts who have discussed plans with the White House.

Those proposals, which are still being debated and are not final, could accompany President Trump’s top two priorities for the next rescue package: the suspension of payroll taxes for workers and an expanded deduction for corporate spending on meals and entertainment.

Mr. Trump and his aides are also planning to push lawmakers to approve legal liability limits for businesses that operate during the pandemic, a top priority of business lobbying groups in Washington and Senator Mitch McConnell, Republican of Kentucky and the majority leader.

Look, go to any diner in the midwest, and any working class person will tell you that their top priorities are 1)not being allowed to sue if their employer makes them sick, and 2)huge tax breaks for people who make lots of money from their money. The Democrat Party will just never be in touch with the working man like this.

There is at least one silver lining here, which is that Trump seems much more invested in upper-class tax cuts than business liability, which is potentially an opening for negotiations. Basically, the best viable deal would be to trade a bunch of upper-class tax breaks (plus a payroll tax break) in exchange for a lot of money for state/local governments, a recurring direct payment, and money for vote-by-mail elections. The tax cuts are bad but not nearly as bad as broad corporate immunity.

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