Immediately after his meeting with Republican leaders in Washington, DC, Donald Trump met with 80 CEOs on Thursday, including Jamie Dimon of JPMorgan Chase & Co. and Tim Cook of Apple Inc., and explained to them how he Turn things around:
If he is re-elected president in November, business leaders would look forward to tax cuts and a relaxation of corporate regulations, according to participants in the meeting.
CNBC spoke to people who attended the Business Roundtable’s quarterly meeting and others familiar with its proceedings. All were granted anonymity to speak freely about the private meeting.
Participants in the meeting said that if Trump returned to the (*80*) House, he would have cut taxes, including income tax, and resumed the economic policies of his first term.
“We’re going to give you more of the same for the next four years,” said one person in the room, describing Trump’s message to business leaders.
Trump’s election chances have improved in recent months:
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This will certainly be music to the ears of at least some of the participants. According to estimates, his vision is in stark contrast to that of President Joe Biden, whose tax proposals amount to around five trillion dollars more of individuals and companies. Some estimates are even higher:
President Joe Biden’s proposed U.S. budget would raise tax revenue by $4.951 trillion over 10 years, including tax increases of more than $2.7 trillion on corporations and nearly $2 trillion on wealthy individuals and estates, the U.S. Treasury Department said Monday.
Trump spoke for about an hour and presented a different vision:
Trump said he wanted the federal government Corporate tax rate down from 21% to 20% should he become president, according to a person familiar with his statements.
Trump also mentioned to the CEOs a proposal recently presented in Nevada: to abolish taxes on employees Tipssaid people who were in the room. Trump then told the CEOs a story about how enthusiastic the tipped employees were about his suggestion, which drew laughter from the company leaders, according to several people.
Although a corporate tax of one percent does not sound like much, writes that it actually matters:
The current corporate tax rate is 21%, but even a miniature cut would mean billions of dollars in tax relief each year for profitable U.S. companies. Trump called the 20% a nice, round number, two sources reported.
Trump couldn’t resist attacking the current Army commander, saying, “We need a president who is at his best, and let’s be honest: this president is not at his best.”
The Biden team countered on social media with this nasty little response:
Biden campaign on Trump’s speech at today’s economic roundtable in Washington:
“Donald Trump couldn’t even run a lemonade stand, let alone our country. He is a con artist, a crook, and a failed businessman and president who has driven America to economic ruin.”
— Kellie Meyer (@KellieMeyerNews) June 13, 2024
Did Biden perhaps overlook the fact that Trump built a multi-billion dollar company? Or that inflation was 1.4 percent when he left office?
