President Trump on Tax Reform

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      Trump Interview

      In 2018, will I, or most Americans anyway, be able to fill out their taxes on a postcard do you think?

      President Trump: Well I do think so. I do think so and I actually had one over here someplace but I won't show you all the way.

      Sharyl: I want to see it.

      President Trump: I don't think I have it in here It's too bad. Does anybody have one? But we have literally a one page form smaller than this is the size of that.

      Shayrl: Smaller than this?

      President Trump: About half the size of that. And most people will be able to do that. Most people will be able to fill out their taxes on average very small form.

      Sharyl: You know Democrats and Republicans have told me and others behind the scenes that almost every decision is made in Washington is not really necessarily about the people it's about the interests that are lobbying them and pressing for different measures. Who is it that's fighting for a piece of this tax reform maybe fighting against the interests of ordinary Americans.

      President Trump: The swamp, Sharyl. The swamp. It's unbelievable. Every single deduction everything there. People are fighting for right or wrong. I mean in some cases it's a good thing that they're fighting other cases. Everybody knows it's wrong but they're fighting nevertheless because people benefit by it. But it's a middle class tax cut. It's a massive tax cut. It's also reform it's also simplification. But more than anything else it's a tremendous tax cut. It's going to be great for the middle class and great for jobs and business. And when I say great for business I'm doing that because of jobs.

      Sharyl: Mortgage interest deduction after all the negotiations do you think it stays?

      President Trump: Well we're going to see. I mean look we will be talking about certain elements and we're going to see we have. Nothing. We're going through a very complicated process right now. There are many many things such as that right now totally up in the air. We're going to see you know the Senate has something to say about it too. I can tell you this The House has been amazing. I have watched what they've done and will look into make it as final as possible but the Senate is going to come out with their version and then everybody's going to sit in a room and hopefully it's going to happen. And I think it will happen because people know we're one of the highest taxed nations in the world. We're not competitive with other nations. And now we're going to be among the lower taxed nations. I'd like to say it's the lowest but we can't get there yet. We may get there in the future.

      Sharyl: It sounds like there are odds that even though the House has gotten their tax plan out there maybe this doesn't go through. If the Senate fights with the House and Republicans don't all get on board.

      President Trump: I don't think so. I'll tell you what. I've been doing a lot of this. We've actually had a lot of bills passed despite what people think I think I heard that number 70 and it's almost a record. And you know if you listen to the fake media the fake news from some of these people like CNN they are so false in so many different networks. I mean the level of false reporting to me somebody said what's the biggest surprise. The amount of dishonesty of the press. But if you listen to a lot of the media you know I didn't do well with bills passed meaning Congress meaning Senate and House. Well the fact is that we've almost we're almost at the top of the pack. We have I think it's approximately 70 bills have been passed and many of them very important in addition to that we have Justice Gorsuch who is fantastic. We're putting in tremendous numbers of federal judges which is the great unsung thing that we're doing we're opening up the regulations. Now we're going for the massive tax cuts. I mean we've done really a lot. And I'm very proud of it. We've had, I think, a great nine months.

      Sharyl: The current head of the IRS John Koskinen gave false information to Congress and the targeting of conservatives disobeyed a federal judge's order to provide documents. Presided over the IRS when subpoenaed documents were destroyed and taxpayers were hacked. Awarded a lucrative contract to Equifax after the credit bureau failed to protect the credit of 145 million Americans. Why is he still the head of the IRS.

      President Trump: Well a lot of people have been asking their question from long previous to me this is taking a long time ago we're just picking now a new head of the IRS and he will be looking at that I'm sure. But I have just made my decision as to who it is it will be announced very shortly and I'm sure they will be looking at that.

      Sharyl: You can announce it now.

      President Trump: I could do that exactly where we'll be. Probably another short period of time we'll be announcing the truth. Really a terrific person will be heading up the IRS so that they'll take a look at every.

      Sharyl: Koskinen is retiring. Is that right?

      President Trump: Well actually he had a term at a time and his term ended someplace like within the last week or so. And he will leave as for the term you know that was not one that was under my purview. He had a term and he went up to a certain point and then he leaves we have a number of them. They were appointed by President Obama but they didn't end in January. They end in a term his term ended in October or November or something and that's when he leaves.