Good evening. Im chuck todd here in washington. Welcome to mtp daily b. We begin tonight with yet another earthquake in the white house. Steve bannon seen by some as an elm seas to many on the populist right or altright, whatever you want to call them, arguably the driving force behind mr. Trumps nationalist identity and to some the driving force to his election victory is now out. The white house said that today was his last day, and they wish him the best. This dramatic shakeup comes amid a growing wave of criticism from republicans in Congress Demanding that the president change course. Folks, to who desperately want this white house to return to normalcy or whatever that means these days are probably going to hope that bannons exit has everything to do with charlottesville. An official familiar with bannons thinking says he submitted his resignation back on august 7th. That was well approximate before charlottesville. Also, its no secret that his influence had been waning for some
President s trade war and repeated attacks on amazon. Then theres his authoritarian trifecta. Going after the quote unquote he writes Justice Department and congratulating another strongman leader after democratic election most people dont think was terribly democratic. Mika is off in a family matter. Joe will be with us in a moment. Weve got National Affairs analyst, republican strategist and political commentator, and the president of the council on Foreign Relations and author of the book a world in disarray. So markets overseas are seeing losses this morning following the latest massive selloff on wall street to kick off the new quarter. The dow fell as many as 758 points yesterday before trimming its losses to close down 458. The nasdaq was the hardest hit shedding nearly 3 . Futures looking slightly like theyre up this morning. Stocks suffered heavy losses on the combination of fears of a trade war and the Tech Industry getting hit with new regulations. China announced yesterday
The tax bill would do, but a lot of promises are broken. Some bigwigs are publicly high fiving the tax cuts but they may have some ulterior motives. Theres so much to unpack about this tax package. After a monthslong Public Campaign to get tax cuts through congress, President Trump signed the new tax law with very little fanfare on friday. This law slashes corporate taxes way down from a statutory or official rate of 35 to 20 now, and it makes those tax cuts permanent. 21 , im sorry. It was 20 for a long time and settled up at 21. To pay for the trillion dollar or more hole that thats going to blow into the u. S. Budget, the middle class tax relief that President Trump promised is going to be smaller and temporary. So we end up with a big deficit financed tax cut that benefits businesses and the wealthy at the expense of the middle class. Now, theres a whole lot of analysis on this. Independent analysis for instance from the Tax Policy Center estimates that the top 1 , the wealthiest a
Is driving them insane and hes only a subject. There is a total freakout over this. The president torpedoes amazon stock. Amazon and amazons owner jeff bezos owns trump magazine, President Trump wouldnt go after him at all. I think this is because of the coverage in the Washington Post. We know the president is lying. Jeff bezos is the richest man in the world and President Trump envies that. Jeff bezos washingtons post questions the president s character. Howie an avalanche of media criticism for sinclair tv after a video shows most of of its anchors reading a scriment attacking fake news. This is extremely dangerous to our democracy. This is extremely dangerous to our democracy. Howie Mark Zuckerberg says he made a huge mistake in not protecting your privacy. Im howard kurtz and miss is mediabuzz. The Washington Post reporting on escalating clashes between the president and chief of staff john kelly. Sources say his authority has been diminished and he has talked about quitting. The
Think that the real scandal is that were about to do the dirty work for the spanish im sure. Some tell you. This and that makes me really angry. Because theyre both. Independent judges and second. Youre not going to win the election and so on. Also coming up tonight the conflict things all the signals over israel yes to israelis right to land no to israels lethal defense of its borders. But saudi arabia strongly condemns its brutal massacre amounts protests in gaza which is considered a flagrant violation of International Resolutions we call upon the International Community to take immediate action to stop this aggression and provide protection to the palestinian people. Or we begin the day with a spanish crisis that could quickly become a german and european one as well today prosecutors here in germany asked the court to allow them to extradite the former catalog leader karlas which demaio to spain now he was arrested here in germany last month on a european warrant carlist which tom