VIDEO NYT Report Reveals Truth About President Donald Trump Tax Cuts | The Last Word | MSNBC

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NYT Report Reveals Truth About President Donald Trump Tax Cuts | The Last Word | MSNBC In a comprehensive segment aired on MSNBC’s “The Last Word,” host Lawrence O'Donnell engages in a detailed discussion with New York Times reporter Jesse Drucker regarding the aftermath of the 2017 tax cuts signed into law under President Donald Trump. This insightful conversation sheds light on the corporate lobbying activities and the implications surrounding these tax reforms.

Key Insights from the Discussion​

1. Rapid Tax Cut Legislation: The 2017 tax cuts, amounting to over $5 trillion, were notable for being drafted and enacted in a notably rapid and somewhat haphazard manner. Drucker emphasizes that this quick process left many companies unprepared for the implications of the new tax policies.
2. Corporate Lobbying Impact: One significant aspect of the discussion is how corporate interests have influenced the regulations accompanying these tax cuts. Drucker points out that after the law was put into effect, many multinational corporations pushed back against the anticipated new taxes, leading to subsequent regulatory modifications that enabled substantial tax reductions.
3. Visibility and Transparency Issues: The conversation highlights a troubling aspect of the regulatory process — that it largely occurs behind closed doors, with real influence exerted by corporations through lobbying. Despite a facade of public participation in the regulatory drafting process, achieving transparency is challenging, as the voices that dominate are often those with extensive resources.
4. Broader Fiscal Implications: The results of the tax cuts have led to increased federal deficits, which are projected to reach even higher levels than initially anticipated. The discussion suggests a disconnect between the law's intentions and its outcomes, which have created significant financial challenges for the government.
5. Public and Private Discrepancies: Drucker explains that much of the public input on regulations is ultimately formed by a few legal experts and lobbyists, calling into question the effectiveness and fairness of the public consultation process.
   

   Conclusion and Community Engagement​

   This discussion on the tax cuts not only highlights the intricacies of U.S. fiscal policy but also raises important questions about how much influence corporate lobbying has over legislation that affects millions. As we strive to navigate the implications of these policies, what are your thoughts? How do you feel about the role of transparency in legislative processes? Feel free to share your thoughts or related experiences below!