the relationship is still sour. the next day after a meeting between president trump and his advisers, secretary of state rex tillerson reportedly referred to the president as a quote, moron. the following day anthony the mooch scaramucci joined the trump administration and blew a kiss apparently in pro test sean spicer quit. july 26th paul manafort was raided. the next day anthony scaramucci s profanity laced interview and john mccain gives his thumbs down with the repeal of obamacare. trump said he was making john kelly his new chief of staff replacing reince priebus. the following monday anthony scaramucci was fired.
affordable care act is here to stay as part of the culture. they know they can t ever really acknowledge that politically because the fight never ends politically in the gop when it comes to obamacare, but legislatively, they re not trying to take it up by its roots and discard it. john, it s donny. coming off obama, the repeal of obamacare, and the tax plan. i think we ve witnessed in 2017 trump s version of trump university. come follow me. come follow me, fellows. follow the rich guy. i m going to get you richer. at the end of the day, he s picking people s pockets. is there any kind of historical reference back to a president that kind of sold a bill of goods, if you will, the individual mandate repeal is going to cause people s premiums to go up. joe talked earlier about the end of this, that the middle class s taxes are going to be going up. any historical reference to a president that kind of pulled one over, if you will, and when the roosters came home had to
thousands of employees as a result of the new tax field. why, it s like christmas day at george bailey s house. kind of. except for the caroling. the tax bill also delivers another huge achievement to the president, a repeal of obamacare s individual mandate. he did what congress wouldn t do, which may be the death knell for a program that has been a drag on the u.s. economy. the president promises, by the way that this is just the beginning. in a tweet congratulating senate majority leader mitch mcconnell trump proclaimed our team will go one to many more victories. of course the democrats with the help of some in the media used a constant drumbeat of dire sky is falling predictions to drive down the popularity of the tax bill. but a south carolina senator tim scott said today, this victory is for all americans. this is not about washington. it s not about the left. it s not about the right.
repeal, as he says, of obamacare. specifically of the individual mandate that the congressional budget officers says means that 13 million more americans will go without insurance in the next decade from now. spoke to individuals today whommered by that. seeing premiums skyrocket because without the mandate fewer healthy individuals will be in that marketplace. which means those with pre-existing conditions and others are more likely to pay more. bottom line end of the day, how will this effect americans in the near term? certainly 95% according to independent analyses, will see a little more money in their wallets. remember, that expires, the corporate tax cuts do not. that is a very good point. by the way, the president is pleased about the idea that to him this represents the repeal of obamacare. it s not quite that simple, but it certainly is another reporter: take as hammer to t. another kick to one of the stools of the bill.
threshold this starts at. there s not a lot of information about the number of lower brackets, rates or income thresholds. all in the bill. that could change the cost of this bill dramatically, but the highest earners are getting a tax cut we already knew in the old bill. the corporate tax rate now slashed to 21%. a very slight increase from 20% the president demanded, but still a lot lower than the current official statute other rate of 35%. remember, the corporate tax rate is permanent. what s not permanent? the tax cuts for individuals. these are still set to expire in 2025. end of 2025 in this reconciled bill. we don t know for sure how the brackets are broken up. residents in high taxed states will still be able to deduct state and local taxes but the dedakz capped at $10,000 including property and income taxes. finally, a major controversial provision in the senate tax plan has made it into the final bill. that s the repeal of obamacare s individual mandate, which the