Shortly after Barack Obama delivered his first (free) speech today since leaving the White House in Chicago before an invitation-only crowd of college students, community organizers and other fans, Fox News’ Charlie Gasparino reports that in what may be his first paid speaking arrangement, Obama will be paid $400,000 to speak at Cantor Fitzgerald’s healthcare conference this September, setting the benchmark for how much an hour of the former president’s time will cost going forward.
Obama, who spent years bashing big banks (even if, like Trump, ultimately achieved nothing to halt Wall Street’s dominance) will deliver the keynote address at the organization’s lunch in what will be one of his first paid speeches.
“What sources are telling FOX Business Network is that former President Obama, now less than 100 days out of office, has agreed to a speaking engagement during Cantor Fitzgerald’s healthcare conference in September,” FBN’s Gasparino said. “We understand that he is going to be the keynote speaker for the lunch, and he’s going to receive a fee of $400,000. We should point out that that’s in line with what Hilary Clinton got… we should point out that Cantor will neither confirm or deny.”
As pressure mounts on Trump to post some victories within the totally arbitrary window of the “First 100 Days” of his administration, the President is expected to join Treasury Secretary Steven Mnuchin later this afternoon to sign a combination of executive orders and memos targeting the reduction of tax regulations and certain components of Dodd-Frank.
Per a statement from the White House, one of Trump’s new executive orders will seek to undo tax rules put in place in the last year of Obama’s presidency that were designed to limit so-called ‘corporate inversions’ which allows U.S. traded companies to recognize income in lower cost countries like Ireland. Per Bloomberg:
Under President Barack Obama, Treasury sought to rein in U.S. companies’ attempts to shift their profit offshore by proposing rules that would curb so-called “earnings stripping” and inversions — mergers in which U.S. companies transfer their tax address overseas to low-tax countries like Ireland to cut their tax bills.
Some of those rules, first proposed in April 2016, sought to restrict lending among subsidiaries of the same corporate parent, a technique that can create income in low-tax countries and tax-deductible interest payments in the U.S. The proposed rules met a barrage of criticism from corporations and tax lawyers, who complained that they went too far by banning common, everyday cash-management practices that have nothing to do with tax avoidance.
Amid the criticism, Treasury last October softened the proposed rules to allow cash pooling, a common corporate money-management technique in which excess cash in subsidiaries is swept daily into a single pool. It also delayed a related proposal, which would require companies to extensively document their related-party lending, until Jan. 1, 2018.
In its first official comments on Sunday morning’s failed missile launch, South Korea said the latest North Korean provocation threatens the entire world, and warned of a punitive action if it leads to further actions such as a nuclear test or a long-range missile launch.
“North Korea showing a variety of offensive missiles at yesterday’s military parade and daring to fire a ballistic missile today is a show of force that threatens the whole world,” South Korea’s Foreign Ministry said in a statement. “We have to warn again that if this leads to a strategic provocation of a nuclear or ICBM test, the North will face strong punitive measures that it will find hard to endure.”
Shortly after the failed test, U.S. Vice President Mike Pence touched down in South Korea Sunday for his first visit in a five-leg trip to the Asia-Pacific region, being the highest-level official from the Donald Trump administration yet to arrive here amid escalating tensions with the North. The arrival marked Pence’s first-ever visit to the South, and was nine hours after North Korea conducted its fifth ballistic missile test this year earlier in the morning, though it ended in failure.
Pence arrived at the Osan Air Base in Pyeongtaek, Gyeonggi, at 3:30 p.m. but has yet to make any public remarks. A joint statement between him and Prime Minister Hwang Kyo-ahn, who concurrently serves as acting president, is expected to come this afternoon after the two leaders discuss North Korean issues at Hwang’s office in central Seoul.
“This morning’s provocation from the North is just the latest reminder of the risks each one of you face every day,” Pence told a fellowship of U.S. soldiers and Koreans at a dinner in Seoul.
A NORTH Korean missile “blew up almost immediately” on its test launch on Sunday, the US Pacific Command said, hours before US Vice President Mike Pence was due in the South for talks on the North’s increasingly defiant arms program.
The failed launch from the east coast came a day after North Korea held a military parade in its capital, marking the birth anniversary of the state founder, in which what appeared to be new long-range ballistic missiles were on display.
Pence is due in Seoul at the start of a 10-day trip to Asia in what his aides said was a sign of the US commitment to its ally in the face of rising tension over North Korea.
A US nuclear-powered aircraft carrier strike group is also heading for the region
The North has warned of a nuclear strike against the United States if provoked. It has said it has developed and would launch a missile that can strike the mainland United States but officials and experts believe it is some time away from mastering the necessary technology.
According to NBC News, the National Security Council has presented the suddenly ragingly bellicose President Trump with several options to respond to North Korea’s nuclear program: put American nukes in South Korea or kill dictator Kim Jong-un.
The scenarios were prepared in advance of Trump’s meeting with Chinese President Xi Jinping this week. The White House has expressed hopes the Chinese will do more to influence Pyongyang through diplomacy and enhanced sanctions, but if that fails, and North Korea continues its development of nuclear weapons, there are other options on the table that would significantly alter U.S. policy.
While Gen. John Hyten, the commander of U.S. Strategic Command, maintained on Wednesday that “any solution to the North Korea problem has to involve China” a senior intel official told NBC he doubted U.S. and China could find a diplomatic solution to the crisis. “We have 20 years of diplomacy and sanctions under our belt that has failed to stop the North Korean program,” said the official involved in the review. “I’m not advocating pre-emptive war, nor do I think that the deployment of nuclear weapons buys more for us than it costs,” but he stressed that the U.S. was dealing with a “war today” situation.
The “nuclear” option would mark the first overseas nuclear deployment since the end of the Cold War, a move that would promptly provoke global condemnation, not least of all by China. It was not immediately clear if South Korea’s regime – in turmoil recently following the recent impeachment and arrest of ex-president Park – had been consulted with the proposed strategy. The U.S. withdrew all nuclear weapons from South Korea 25 years ago.
Japanese Prime Minister Shinzo Abe on Thursday urged U.S. President Donald Trump to insist on greater Chinese cooperation in the face of threats from North Korea, which tested yet another missile the previous day.
Japan requested the call, which lasted 35 minutes, just ahead of Trump’s scheduled summit with Chinese President Xi Jinping in Florida. Trump assured Abe that the North Korean issue would feature prominently on the agenda when he meets with Xi on Thursday and Friday, U.S. time, according to a Japanese government official.
Trump and Abe agreed that China has a key role to play in moderating Pyongyang’s behavior, and that a Beijing clampdown needs to go beyond the current suspension of coal imports from the North.
“All options” for dealing with the threat remain on the table, the U.S. president said.
In an earlier interview with the Financial Times, Trump had declared, “If China is not going to solve North Korea, we will.”
But while Trump’s White House is taking a harder line — going so far as to hint at the possibility of military action — China is reluctant to crank up the pressure.
Despite U.S. President Donald Trump’s bluster on “historic tax reform” and $1 trillion in infrastructure investment, his visions still remain short on specifics, while the Congress appears headed to an epic clash over a contentious corporate tax plan.
American stocks surged in euphoria after Trump said Feb. 9 that he would announce something “over the next two or three weeks that will be phenomenal in terms of tax.” Yet his address to a joint session of Congress Tuesday night, his first, contained nothing but generalities — a far cry from the promised “phenomenal” plan.
During the campaign, Trump called for cutting the federal corporate tax rate from 35% to 15%. Republican lawmakers in the House of Representatives have drawn up a proposal of their own that would introduce a 20% border adjustment tax to fund a corporate tax rate cut to 20%. This plan would impose no taxes on exports but would bar companies from deducting import-related costs from taxable income.
Trump has not taken a clear stand on the border adjustment tax, and Tuesday’s address only alluded to the issue. “When we ship products out of America, many other countries make us pay very high tariffs and taxes,” he said. “But when foreign companies ship their products into America, we charge them nothing, or almost nothing.” Read More
The announcement comes amid reports that CNN, MSNBC and other organizations were thinking of boycotting the evening to protest their treatment at the hands of the new administration. This includes being called “a danger to our country” by the president and having their access to officials limited. Buzzfeed, the New York Times, the Los Angeles Times, the New York Daily News, the Hill and Politico were not invited to an off-camera but on-the-record press gaggle with White House Press Secretary Sean Spicer yesterday, a move CNN called “unacceptable.”
The annual dinner at the Washington Hilton, which raises money for journalism scholarships and awards, has turned into a celebrity event that some journalists have criticized as a sign the Washington press is becoming too cozy with the nation’s power structures.
Trump himself was brutally roasted when he attended as a guest in 2011 for pushing the Obama “birther” controversy.
Just a few hours after Trump warned during his CPAC speech that “we’re gonna do something about the media”, he did just that after the White House barred a number of news outlets from covering Sean Spicer’s Q&A session on Friday afternoon. Spicer decided to hold an off-camera “gaggle” with reporters inside his West Wing office instead of the traditional on-camera briefing in the James S. Brady Press Briefing Room according to press reports.
Among the outlets not permitted to cover the gaggle were various news organizations that Trump has singled out in the past including CNN, The NYT, The Hill, Politico, BuzzFeed, the Daily Mail, BBC, the Los Angeles Times and the New York Daily News.
Several non mainstream outlets were allowed into Spicer’s office, including Breitbart, the Washington Times and One America News Network. Several other major news organizations were also let in to cover the gaggle. That group included ABC, CBS, NBC, Fox, Reuters and Bloomberg, however AP and Time have boycotted the event.
The White House Correspondents’ Association sharply criticized the decision.
“The WHCA board is protesting strongly against how today’s gaggle is being handled by the White House,” Jeff Mason, the association’s president, said in a statement. “We encourage the organizations that were allowed in to share the material with others in the press corps who were not,” he added. “The board will be discussing this further with White House staff.”