Editor’s Choice: Scroll below for our monthly blend of mainstream and alternative July 2018 news and views
Note: Excerpts are from the authors’ words except for subheads and occasional “Editor’s notes” such as this.
New York Times, Administration Mulls Unilateral Tax Cut for the Wealthy, Alan Rappeport and Jim Tankersley, July 31, 2018 (print edition). A proposal under consideration at the Treasury Department would bypass Congress and use federal regulation to index capital gains for inflation, a $100 billion boost for high earners. The move would face a near-certain court challenge and could reinforce a liberal critique of Republican tax policy.
According to the budget model used by the University of Pennsylvania’s Wharton School of Business, indexing capital gains to inflation would reduce government revenues by $102 billion over a decade, with 86 percent of the benefits going to the top 1 percent.
New York Times, Trump Again Threatens to Shut Down Government, Katie Rogers and Nicholas Fandos, July 31, 2018 (print edition). “We’re the laughingstock of the world,” President Trump said during a 40-minute news conference with Giuseppe Conte, right, the visiting Italian prime minister.
President Trump reiterated on Monday his threat to shut down the federal government this fall if Congress does not deliver on Republican demands to crack down on immigration by enforcing security on the border with Mexico and building his long-promised wall.
“If we don’t get border security after many, many years of talk within the United States, I would have no problem doing a shutdown,” Mr. Trump said during a 40-minute news conference with Giuseppe Conte, the visiting Italian prime minister. “We’re the laughingstock of the world.”
Mr. Trump repeated his vow for the second time in two days, continuing to rattle those in his party who are leery of a difficult midterm election season and are focused on confirming Judge Brett M.…