Trump pitches for tax overhaul to benefit lower and middle-class Americans

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House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell, though, need to get on board, said Bossie, and they should start by listening to Trump's "optimistic message to the American people" on Wednesday, when he'll explain why tax relief is needed.

President Donald Trump delivered a speech Wednesday about his plan to reform taxes in the United States to several hundred employees at Loren Cook Company.

"Our tax system should benefit loyal hard-working Americans and their families", Trump said, promising "to work with Congress, Republicans and Democrats alike" on the matter and claiming that his tax reform plans are bipartisan. It's an appealing idea, but there's a big problem: Tax proposals Trump has actually offered so far would benefit the wealthy far more than the middle class, might not grow the economy much-and would likely put a multi-trillion-dollar hole in the deficit.

"They have no plans whatsoever for tax reform that have any chance for enactment by Congress", he told the Globe after Trump's speech.

"In recent years, millions of Americans have watched that prosperity slip away in the rear-view mirror", President Trump said.

He referred to Democrats in Congress as "obstructionists", citing their votes against the repeal of Obamacare and appointments made by the new administration. Do you understand me?

All I want to do is MAGA (Make America Great Again), Trump added with the slogan of his presidential campaign.

Trump said his administration is embracing a new economic model.

"When it comes to the business tax, we are dead last [in the world]".

His plan is to bring businesses back to the united states by exporting our goods and not our jobs.

"They are taking us, frankly, to the cleaners", the president said.

"We believe that ordinary Americans know better than Washington how to spend their own money and we want to help them take home as much of their money as possible and then spend it. Do you understand?" Trump said. "By making it less punitive for companies to bring back this money, and by making the process far less bureaucratic and hard, we can return trillions and trillions of dollars to our economy and spur billions of dollars in new investments in our struggling communities and throughout our nation".

Trump also showed he isn't above threats to get tax reform passed.

The U.S. can not remain competitive with other nations with a tax rate that is 16.4 percentage points higher than the world average.

The Bureau of Labor Statistics revealed Thursday that the average American past year paid more in taxes than he or she did on food or clothing.

"It seems that this is an area where Trump can turn the page with Congress", Delehanty said in an interview.

"But it would make us highly competitive".

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