“President Trump to his conservative critics: I read you loud and clear!” Grabien News reports. “After coming under criticism from many on the right — most prominently, the Drudge Report — for seeming to move popular campaign promises like repealing ObamaCare and reining in the tax code to the back burner, this morning Trump promised a ‘phenomenal’ tax reform package will be presented in the next two to three weeks.”

Grabien News reports, “Speaking to airline executives at the White House, Trump empathized with the burdensome regulatory climate the industry is operating under, and promised to begin making reforms.”

President Trump

President Trump

We want to help you realize these goals by rolling back burdensome regulations, and you people are regulated probably as much as almost anybody. We have a regulatory morass that’s a disaster… Lowering the overall tax burden on American business is big league, that’s coming along very well. We’re way ahead of schedule, I believe. And we’re going to be announcing something — I would say over the next two or three weeks — that will be phenomenal. — President Trump

Read more in the full article here.

MacDailyNews Take: As we’ve been saying for many years now, the U.S. corporate tax rate is way too high. Obviously.

Under the current U.S. corporate tax system, it would be very expensive to repatriate that cash. Unfortunately, the tax code has not kept up with the digital age. The tax system handicaps American corporations in relation to our foreign competitors who don’t have such constraints on the free flow of capital… Apple has always believed in the simple, not the complex. You can see it in our products and the way we conduct ourselves. It is in this spirit that we recommend a dramatic simplification of the corporate tax code. This reform should be revenue neutral, eliminate all corporate tax expenditures, lower corporate income tax rates and implement a reasonable tax on foreign earnings that allows the free flow of capital back to the U.S. We make this recommendation with our eyes wide open, realizing this would likely increase Apple’s U.S. taxes. But we strongly believe such comprehensive reform would be fair to all taxpayers, would keep America globally competitive and would promote U.S. economic growth.Apple CEO Tim Cook, May 21, 2013

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Apple CEO calls corporate tax rap ‘total political crap’ – December 18, 2015
Apple avoids $59.2 billion U.S. tax bill – October 7, 2015
U.S. companies now have $2.1 trillion overseas to avoid corporate taxes – March 4, 2015