Trump Tax Bill Delayed; Futures Tumble

As the year winds down, I think we can all agree that this has been an exhibition of absolute failure for this Presidency. But the failures aren’t so much his fault, as they are purposeful and deliberate fuck ups by the GOP establishment shills in an effort to give the impression that Trump is retarded. The problem with this strategy is that it feeds into Trump’s populist schtick. He couldn’t care less if democrats ransacked GOPfags in 2018 or not.

The more I look at this Presidency the more I believe his sole purpose there is to clean out rat lines and install new ones. Out with the old guard and in with the new sort of thing. You can practically see the tension on all of the faces in the GOP and DEM ranks — completely and totally out of their elements dealing with a shit-posting Trump.

Now his tax cuts look to be dead. Oh well.

Via Politico:

Senate Majority Leader Mitch McConnell (R-Ky.) said the next vote in the tax debate will come at 11 a.m. Friday, as work continues behind the scenes to win over skeptical deficit hawks and other hold-outs.

Multiple GOP senators leaving the chamber after a dramatic late afternoon vote said a key proposal for deficit hawks — a trigger to raise tax rates if sufficient economic growth did not materialize — would not pass procedural muster and would need to find something else to satisfy the bloc of deficit hawk holdouts, led by Sen. Bob Corker (R-Tenn.).

“It doesn’t look like the trigger is going to work, according to the parliamentarian,” Senate Majority Whip John Cornyn (R-Texas) said. “So we have an alternative, frankly: a tax increase we don’t want to do to try to address Sen. Corker’s concerns.”

Corker told reporters: “My understanding is, that the parliamentarian has ruled against it so they’re just going to automatically put [tax increases] in, period.” Corker and Sen. Jeff Flake (R-Ariz.) said the revenue raised with tax increases — which senators say would kick in six years after the enactment of the tax legislation — would total about $350 billion, although Cornyn suggested that figure may need to go higher.

Nasdaq futures are down 19, Dow off by 55. The market rose by 300+ on the hopes of a deal. Now that the deal has been scuttled, I fully expect the market to rise by another 300.