Day 1325: "An essential foundation."

WTF Just Happened Today

Thursday, September 5, 2024

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1/ Trump’s federal criminal election interference case resumed after a nearly yearlong delay. The case had been on hold since late last year, when Trump appealed U.S. District Judge Tanya Chutkan’s decision that he’s not entitled to “presidential immunity” from criminal prosecution. Despite two lower courts rejecting Trump’s claim of total immunity, the Supreme Court took up the appeal and ruled in July that Trump is entitled to “absolute immunity from criminal prosecution” for “official acts.” Last week, special counsel Jack Smith charged Trump in a superseding indictment in the case involving an alleged conspiracy to obstruct the results of the 2020 election. The revised indictment kept the same four charges against Trump, but recalibrated the case to adjust to the Supreme Court’s ruling that presidents enjoy sweeping immunity from prosecution for their official conduct. Today, lawyers on both sides sparred over their proposed paths for how the election interference case against Trump should proceed. Chutkan appeared inclined to give prosecutors a chance to lay out the evidence against Trump within the next few weeks. Trump’s attorney, John Lauro, however, pushed back, saying this a “sensitive time” with the presidential election approaching. Chutkan responded: “The electoral process and the timing of the election […] is not relevant here. This court is not concerned with the electoral schedule.” (Politico / Washington Post / New York Times / CBS News / CNN / CNBC)

2/ Kamala Harris called for a 28% capital gains tax rate for Americans who earn at least $1 million a year – 10 points lower than Biden’s proposed 39.6% top rate. The current capital gains tax rate is 20%. “While we ensure that the wealthy and big corporations pay their fair share, we will tax capital gains at a rate that rewards investment in America’s innovators, founders and small businesses,” Harris said. While Trump hasn’t explicitly outlined a position, in 2016 he supported capping capital gains taxes at 20%, and the Heritage Foundation’s Project 2025 calls for a 15% tax on capital gains. (Bloomberg / USA Today / Axios / ABC News / CNN / CNBC)

3/ Trump pledged to cut the corporate tax rate to 15% from...

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