{"id":1511,"date":"2019-07-29T22:16:30","date_gmt":"2019-07-30T05:16:30","guid":{"rendered":"http:\/\/familyenterpriseusa.com\/feusa\/from-the-president-7-26-weekly-update\/"},"modified":"2019-07-29T22:16:30","modified_gmt":"2019-07-30T05:16:30","slug":"from-the-president-7-26-weekly-update","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/estate-taxes\/from-the-president-7-26-weekly-update\/","title":{"rendered":"From the President \u2013 7-26 \u2013 Weekly Update"},"content":{"rendered":"
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The big legislative news this week is the sweeping budget deal President Donald Trump, and congressional leaders reached to increase the debt limit through 2021<\/strong>, thus averting a default on U.S. payments, and lifting stiff budget caps that were set to take effect this fall.<\/div>\n
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The deal raises federal spending by a total of $320 billion and only contains $77 billion in offsets, which is far less than the $150 billion initially sought by the Trump administration.<\/div>\n
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Instead of additional cuts, House Speaker Nancy Pelosi (D-CA)has agreed not to include any \u201cpoison pill\u201d political amendments or policy dictates in the upcoming appropriations bills.\u00a0<\/div>\n
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House lawmakers cleared the sweeping budget package before leaving for the six-week August recess.\u00a0The Senate is scheduled to follow suit early next week.<\/div>\n
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To learn more about this deal and how it might impact our advocacy, join our\u00a0Supporters Call on August 1.<\/strong><\/span><\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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SUPPORTERS CALL<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Please join us for an update call.\u00a0Note:\u00a0the agenda will be distributed on Monday.<\/div>\n
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Thursday, August 1, 2019 at 12PM ET\/9AM PT<\/div>\n
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Dial in details are below:<\/div>\n
Toll Conference Line: 1-310-372-7549<\/div>\n
Toll-Free Conference Line: 1-800-719-7514<\/div>\n
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Conference Code: 285147<\/div>\n
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UPCOMING TRAVEL<\/strong><\/span><\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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PATG will be in Dallas, Texas the week of August 5th.Please let us know if someone you know would benefit from learning more about our fight to eliminate the death tax.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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WEEKEND READS<\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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WEALTH TAX LITERATURE:\u00a0The revenue projection most frequently cited for Warren\u2019s wealth tax, $2.75 trillion over a decade, comes from a pair of prominent Berkeley economists, Emmanuel\u00a0Saez\u00a0and Gabriel Zucman.<\/a>\u00a0\u00a0<\/div>\n
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But from practically the start, other experts have questioned whether that figure is too optimistic. The latest in that genre comes from a new paper from the Treasury Department\u2019s Matthew Smith, Owen\u00a0Zidar\u00a0of Princeton and Eric Zwick of the University of Chicago, who argue in part that it\u2019s tough to know just how much wealth is located at the top end and how it\u2019s spread across different types of assets.\u00a0\u00a0<\/div>\n
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The paper also suggests (using data from 2014) that a Warren-style wealth tax would maximize proceeds by taxing accumulated wealth of at least $11 million. (Warren instead would place a 2 percent tax on wealth above $50 million, with an additional 1 percent surcharge tacked on at $1 billion.)<\/div>\n
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It\u2019s not exactly apples to apples, but even the $11 million threshold would have only raised $146 billion, the paper says \u2014 well short of the pace needed to get to $2.75 trillion<\/span> over a decade.<\/div>\n
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WSJ ED BOARD: \u201cThe Bipartisan Spending Party\u201d:<\/a>\u00a0\u201cThe rap on Washington is that it\u2019s too partisan and accomplishes little.<\/div>\n
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We\u2019ll take that if the alternative is this week\u2019s budget deal that is a win for the political faction that really runs the place\u2014the bipartisan spending party. \u2026\u00a0\u201cPresident Trump appears inclined to accept the agreement,\u00a0perhaps to avoid more drama ahead of the 2020 campaign.<\/div>\n
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The White House is now leaking that after he\u2019s re-elected Mr. Trump will really get down to business on taming spending. Voters can be forgiven if they find this hard to credit.\u201d<\/div>\n
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\u00a0Republicans want an election about socialism. They\u2019re unlikely to get one<\/a>.\u00a0OPINION \u2014 If there was any doubt congressional Republicans want to make the 2020 election about something other than President Donald Trump, look no further than the House\u00a0GOP\u2019s\u00a0campaign chairman.\u00a0<\/div>\n
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\u201cRepublicans will make 2020 race a choice between socialism and freedom, NRCC Chair Emmer says, w starring role for AOC & Squad as \u2018Speaker in fact,\u2019 & rest of Democrats as the \u2018new Red Army,\u2019\u201d\u00a0New York Times reporter Julie Hirschfeld Davis tweeted last week\u00a0<\/a>aboutNational Republican Congressional Committee Chairman\u00a0Tom Emmer<\/a>.\u00a0\u00a0<\/div>\n
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That\u2019s not a complete surprise, of course, since Republican candidates, officeholders and strategists have appeared intent for months to transform the 2020 elections from a referendum on Trump into a referendum on socialism<\/div>\n
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UNDERSTANDING GEN Z:<\/strong><\/span>\u00a0How America\u2019s Largest, Most Diverse, Best-Educated, and Most Financially Powerful Generation Will Shape the Future.\u00a0\u00a0<\/div>\n
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Understanding Gen Z report\u00a0\u2013 some interesting trends\u2026including on American identity, support for capitalism, etc.\u00a0\u00a0<\/div>\n
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Based on nearly 1,000 survey interviews with 18-21 year-olds,\u00a0Morning Consult\u2019s \u2018Understanding Gen Z\u2019 report\u00a0<\/a>digs into the values, habits, aspirations, politics, and concerns that are shaping Gen Z adults and the ways they differ from the generations that came before them.\u00a0<\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n
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The post From the President \u2013 7-26 \u2013 Weekly Update<\/a> appeared first on Policy and Taxation Group<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The big legislative news this week is the sweeping budget deal President Donald Trump, and congressional leaders reached to increase the debt limit through 2021, thus averting a default on U.S. payments, and lifting stiff budget caps that were set to take effect this fall. \u00a0 The deal raises federal spending by a total of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[43],"tags":[50,11,5],"class_list":["post-1511","post","type-post","status-publish","format-standard","hentry","category-estate-taxes","tag-death-tax","tag-estate-tax","tag-family-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/1511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1511"}],"version-history":[{"count":0,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/1511\/revisions"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}