There may or may not be a lot that you can say when it comes to Donald Trump’s accomplishments – but one that is not up to debate is his branding ability. How he has done it has been pretty straightforward – instead of developing actual real estate properties itself, the Trump Organization licenses Trump’s name for million-dollar fees. It’s a tactic that Forbes calls “no effort, low risk, high reward cash flow proposition.”
However, his aptitude to slap his name onto properties may not work in the White House. When House Speaker Paul Ryan approached President Trump to give him the honor of naming the incoming GOP tax bill, he was less than impressed.
Less than 24 hours before the bill was to be revealed, the name was still not settled, according to a senior congressional aide and White House official. Ultimately, it was decided that the Ways and Means Committee will choose the name. But behind closed doors, there were still disputes between Paul Ryan and the committee’s chairman Kevin Brady. Eventually, the decision was referred to President Trump.
President Trump wanted to call the GOP tax bill “The Cut Cut Cut Act.”
What’s Inside The Cut Cut Cut Act?
Like any tax bill, it’s complicated, convoluted, and has several moving parts. However, the Washington Post attempts to explain it to the layman.
It is reported that the bill will add to America’s $20 trillion debt, with the rich coming out on top. It’s proposed that the bill won’t harm the poor – even though there are very few details to ensure that. Businesses of various sizes will get tax cuts, and it is unclear if wealthy Americans will receive a more significant tax break than the middle class.
There are still a lot of details that Congress has to figure out before The Cut Cut Cut Act is fully realized.
Featured image via Flickr.