Watch Live: Speaker Paul Ryan To Deliver "Major Speech" Calling For Permanent Tax Reform

Tyler Durden's picture

In what is being hailed as a "major speech," which means just about nothing to ordinary Americans living outside the D.C. bubble, House Speaker Paul Ryan is expected to call for permanent tax reform in 2017 in remarks to be delivered to the National Association of Manufacturers.  According to the Washington Examiner, Ryan will report that the GOP intends to introduce and pass a joint tax bill in the fall of this year.

"We are going to get this done in 2017. We need to get this done in 2017.  We cannot let this once-in-a-generation moment slip."

 

"Transformational tax reform can be done, and we are moving forward. Full speed ahead."

 

One component of Ryan's tax plan, the so-called border adjustment provision, has become very controversial even among his Republican colleagues. It has elicited fierce opposition from retailers and other industries that fear it would result in higher taxes on imported products. In effect, the border adjustment would work by exempting export sales from companies' taxable income, but disallowing the deduction of the cost of imported goods from taxable income.

"While acknowledging that the particular mechanism must be sorted out with the administration, he will argue that we must fix the current incentive for American companies to move abroad, make things overseas, and then sell them back into America — which costs us jobs," his office said. Ryan will also stress that the U.S. needs a more competitive tax system after years of being disadvantaged.

 

"We are actually unique in the world in the way we discourage capital from coming back to America and how we incentivize off-shoring jobs," he'll say. "This is not the kind of exceptionalism we should aspire to…We must think differently, so that once again we make things here and export them around the world."

 

Meanwhile, Republicans will have to pass their tax package via a continuing resolution to take advantage of their simple majority in the Senate, a procedural move that will prevent Democrats from blocking it. Under such a procedure, the tax package cannot add to long-term budget deficits. 

That said, in order to take advantage of the procedure, Republicans in the House and Senate must pass a budget resolution.  And while that may sound simple enough, the Republican party is bitterly split over spending levels for the military and various domestic programs.

Of course, major tax reform has been a key agenda item for Republicans for quite a while and only time will tell whether it is possible or, as John Boehnor would say, just a bunch of Republican "happy talk."

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Looney's picture

 

I’d like to see a remake of the old ad with Paul Ryan pushing Granny off the cliff, starring Paul Ryan and Nancy Pelosi.

This time, Ryan should jump from the rocky ledge, too.  ;-)

Looney

froze25's picture

Ryan sucks, I expect nothing from him other than more BS Talk with Zero action. Back up the President for once Ryan.

Looney's picture

 

Paul Ryan’s mumbling reminds me of the putrid noxious gases bubbling up to the surface of The Swamp.  ;-)

Looney

froze25's picture

Paul Ryan will never be president.

ACP's picture

20 minutes of bland, old loaf bullshit.

froze25's picture

Is that how he got "the bug"?

BullyBearish's picture

our "leaders" KNOW the only way to get more consumption of corporate goods is to get money to the lower classes and the only way to do that is through the .01%, so, expect huge tax cuts (e.g. disguised as obomber care fixes) for the wealthy so they'll be able to knock a few more crumbs off of their plates to the undeserving...

847328_3527's picture

The middle class is suffering while these polticians, esp the Dems, jerkoff and obstruct with the Russian BS.

It's pretty bad there...very swampy.

aloha_snakbar's picture

Either that or cheesy, corn fed Wisconsin cow farts...

QE4MeASAP's picture

Never trust anyone with two first names as their name.

vato poco's picture

Here's what I guarantee ya Ryan won't be mentioning in his little speech. or ever. 

His name was Seth Rich

#PizzaGate

#WhatsontheLaptops

#WhyUNoIndictWeiner

#WhyUNoIndictPodesta

#WhoRtheAwanBrothers

#DraintheSwamp

#BuildthatfuckinWall

#TheyAllHaveToGoBack

MFL5591's picture

A speach is all he is capable of delivering!

AGuy's picture

"Ryan sucks, I expect nothing from him other than more BS Talk with Zero action."

BINGO! I watched it while eating lunch and it was a real snooze. Nothing of substance. Only figure discussed is cutting the Corp Tax to 15%. Nothing about cutting spending to offset alleged tax cuts. Ryan's Plan is DOA.

Didn't mention Trump by name even once, Just Pence.

froze25's picture

I'm sure nothing about cutting taxes for the working people either. 

Ms. Erable's picture

Nope. Working stiffs will get fucked harder under any tax 'reform'. If the serfs complain about getting a raw deal, Ryan and company will pull out the 12" sandpaper dildo and fuck you again.

doctor10's picture

where's that old Charlie Brown comic strip?..the one with Lucy and the Football

Buckaroo Banzai's picture

Why can't this worthless faggot just gas himself already.

Just Another Vietnam Vet's picture

 

Tax Reform ? .... Is that Like getting rid of O mamma care ?  

 

Or like a state that can NOT pay its bills and has NO BUDGET.

http://www.foxnews.com/politics/2017/06/20/illinois-careens-into-financi...

 

Pigeon's picture

Ryan  -like the rest of the RINOs - is full of shit. End of story. Every year, same bullshit. Every year, zero results. Fuck him and the horse he road in on. No, wait, let's not blame the horse. Fuck him twice.

XqWretch's picture

yep, this will be no different

ipso_facto's picture

I'm sure RINO Ryan will look out for my interests.

Rainman's picture

If you drive a car, I'll tax the street,
If you try to sit, I'll tax your seat.
If you get too cold I'll tax the heat,
If you take a walk, I'll tax your feet.

  h/t  The Beatles ( Taxman )

montresor's picture

Talkin bout my generation..

Solio's picture

If you think, I'll tax the thought.

jamesmmu's picture
MSM’s Assault on Trump and His Supporters Continues as Political Violence Accelerates

http://investmentwatchblog.com/msms-assault-on-trump-and-his-supporters-...

GlassHouse101's picture

Government by nature never hands power back to it's people. I will believe it when I see it, widdowpeak Ryan.

buzzsaw99's picture

co sponsored by representative Ben Dover.

HK21E's picture

Paula - with no respect intended:

SUCK MY FUCKING CRANK. Globalist twat. 

VladLenin's picture

Fuck you Ryan, do something instead of talking.  asshat.

montresor's picture

Well fuck ya if you're just going to counterfeit the money like fucking Zimbabwe then why have any taxes at all? Just give the poor dumb bastards another t-bill!

Squid Viscous's picture

go curl some 15 lb dumb bells again you little bitch

Salsa Verde's picture

Paul Ryan is nothing more than his liberal wife's stooge.

AGuy's picture

"Paul Ryan is nothing more than his liberal wife's stooge."

Shucks. You give him way too much credit.

wmbz's picture

Once I saw the name P.Ryan I stopped reading, because it's not worth reading or watching!

Ryan is a lying piece of shit, nothing more, nothing less.

shimmy's picture

"We have one of the highest corporate tax rates in the world, driving companies and jobs overseas. Our plan levels the playing field."

As far as I know, none of the corporations who are in posiiton to go overseas actually pay anywhere close to that high tax rate and lowering it while closing loopholes will make these corporations actually pay more in tax which they probably won't be happy about.

Anyone who actually thinks the tax rate that nobody pays is keeping manufacturing from being brought back, rather than the simple fact it is cheaper to produce things elsewhere rather than unionized and high wage U.S., must be smoking something funky.

Since the republicants basically screw up everything they do, even replacing the disaster that is obozocare, I expect they will screw up this tax reform and the libtards will sit back and laugh. 

slightlyskeptical's picture

That lines up with some other parts of the speech, where he says eliminating deductions will allow the middle and lower clsses to pay less in taxes. In other words they will be raising taxes on corporations even though the tax rate is lower.

AGuy's picture

"Anyone who actually thinks the tax rate that nobody pays is keeping manufacturing from being brought back, rather than the simple fact it is cheaper to produce things elsewhere rather than unionized and high wage U.S., must be smoking something funky."

Jobs won't ever come back even if there were real tax cuts:
1. Regulation, makes it nearly impossible to do anything. Not only at the Federal level, but at the state, county and local levels too boot.
2. Piss Poor worker ethics/education. Millenials took worthless college degrees and had a socialist/cultural Marxism education in public schools. They are glued to there smartphones all day, come in late and leave early. Totally un-reliable and often obstructionist.
3. No way can america worker compete with an asia worker that workers 12+ hours a day for a buck or two an hour.

Real tax reform can't happen until these things are fixed:
1. entitlment reform and out-of-control gov't spending. Federal gov't runs a $1T deficit, thus Federal spending need to be cut by $1T before tax cuts can be considered
2. Cut Obozocare. Any tax cuts will be more than swallowed by soaring Obozocare premiums. In my state, premiums will be increasing by 50% this year. I will likely be spending about an extra $4K next year (and I am single). for a family I would imagine they will be paying atleast $8K more next year. I doubt Ryan's cuts will even come close to offseting soaring Obozocare costs.
3. Cut Regulations: This is the number one issue that is preventing companies from hiring. It's just too damn costly to hire workers, or expand production. Until regulations are eliminated jobs will continue to move overseas.

dirty fingernails's picture

regulations isn't the problem. Thats a meme pushed by the owner class looking to increase profits by not needing to meet safery, health, or evnironmental standards. Unless you like tge idea of your home town being a toxic dump "so you can have a job". its labor that pushes production to 3rd world shit holes. The sad thing is that they've kept inflation hidden for so long now by things like keeping wages/minimum wage low and using illegal immigrants to do jobs a citizen can't afford to do. Its been a coordinated attack on our purchasing power and our ability to not use credit.

CHoward's picture

OK - I got it.

 

First you called it Tax Reform

 

Today its: Permanent Tax Reform

 

Next year it will be : Super Permanent Tax Reform

 

Kinda like "comprehensive immigration reform" - that moniker lasted 40 fucking years and nothing changed.

J bones's picture

So we are
- broke
- raising rates
- cutting taxes (edit: suppose to be reallocating the tax bracket but at the same time we arnt shrinking government expenses we are just moving them around)

So how do we service the debt?

Zorba's idea's picture

Seriously, where have you been?! The Master Printers have it all under control. The "Extraction" operation is in full speed ahead mode

J bones's picture

Got me! I dropped the ball...

corporatewhore's picture

He's up for reelection and is shouting the same bullshit that gets him reelected every two years by the cheeseheads.

Good God, get rid of this guy and elect someone else.

TabakLover's picture

Must be Ryan's turn to keep the markets up.

novictim's picture

I'm at a point now with loser Ryan (or Eddie Munster as I call him) that I simply assume that anything he has planned or says is the opposite of what is actually good for the USA.

Wisconsin, you have a lot to answer for for voting in this craven maggot.

MAGA, dump Ryan and the other Globalists/Neoliberals.  Build the Wall. Deport illegals en masse.  Rescind H1B Visas.  Institute Trade Tariifs and force American industry back to the US of A.

And build a new and friendly relationship with Russia, the USA's natural ally on the basis of shared culture (Western). Drag the NeoCons out of the Senate naked and covered with tar and feathers.