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Trump’s War With NFL Threatens to Overshadow Rollout of Tax Plan

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  • Trump’s War With NFL Threatens to Overshadow Rollout of Tax Plan

The big thing Wall Street and corporate America really want from President Donald Trump is a tax cut. And on the week when that plan is being revealed, Trump instead is asking Americans to choose sides between kneeling football players and the U.S. flag.

Trump opened the controversy by declaring that NFL players who protest police brutality by kneeling during the national anthem — and who are mostly black — should be fired, saying “get that son of a bitch off the field” at a political rally Friday. He followed it with a series of tweets. In response, NBA superstar LeBron James called Trump a “bum.” Robert Kraft, the owner of the NFL’s New England Patriots and a Trump confidant, said he was “deeply disappointed.”

It’s not the first time Trump has allowed unscripted attacks or personal slights to collide with his larger political goals. A week in August that was supposed to be focused on infrastructure development instead was consumed by the president’s on-and-off defense of white supremacists who violently rallied in Charlottesville, Virginia.

But this may be the most consequential distraction yet. Stocks have surged and companies have drawn up expansion plans on the prospect of billions of dollars in extra profits from a cut in the corporate tax rate. Even as business and Republican leaders have grown dismayed with the president’s personal behavior, they’ve clung to the promise of a tax overhaul.

As after Charlottesville, some of these supporters — like Kraft — are once again saying enough is enough.

“When it comes to this recent spat with the NFL, look, there are far more important things that we ought to be focusing on,” Senator Cory Gardner, a Colorado Republican, said on CBS’s “Face the Nation” on Sunday.

Karl Rove, the former political adviser to President George W. Bush, was even more blunt.

“The president has two very valuable assets, his time and his voice,” Rove said on Fox News Sunday. “And this president wastes it when he engages in things like this.”

Business Reaction

Two White House advisory councils comprised of U.S. corporate chiefs disbanded following Charlottesville after several of their members criticized Trump. The first sign of discontent in the business community over the president’s NFL remarks came from the owners and executives of sports teams, including some who are personal friends or donors to Trump.

“Let’s stop vilifying athletes who stand up for issues they deem important,” former Microsoft Corp. CEO Steve Ballmer, who now owns the Los Angeles Clippers NBA team, said on Twitter.

Former Buffalo Bills coach Rex Ryan, who supported Trump during the election, said he was “pissed off” and that Trump’s comments were “appalling to me and I’m sure it’s appalling to almost any other citizen in this country. It should be.”

Trump administration officials interviewed on Sunday morning news shows found themselves defending the president’s remarks on NFL player protests, rather than outlining the White House’s tax plan or boosting embattled legislation to repeal Obamacare.

‘Vast Majority’

“I think that the president is standing with the vast majority of Americans who believe that our flag should be respected,” Marc Short, the White House legislative director, said on Meet the Press.

“This is about respect for the military and the first responders and the country,” Treasury Secretary Steven Mnuchin said on ABC’s “This Week,” in remarks that drew particular scorn from Democrats. “They have the right to have their First Amendment off the field. This is a job and the employers have the right, when the players are working, to have rules.”

Larry Summers, the former director of President Barack Obama’s National Economic Council, said on Twitter that Mnuchin “may be the greatest sycophant in Cabinet history.”

“If I were president, I probably would not get involved in this,” Senator Rand Paul, a Kentucky Republican, said on NBC’s “Meet the Press.”

Then came the visual retorts.

Locked Arms

Shahid Khan, the billionaire owner of the Jacksonville Jaguars who donated $1 million to Trump’s inauguration committee, locked arms with his players on the field for the national anthem before the kickoff of his team’s game in London. Daniel Snyder, the owner of the Washington Redskins and another $1 million inaugural donor, also locked arms with his players before his team’s nationally broadcast game on NBC’s Sunday Night Football. Neither owner kneeled, though several of their players did.

The Redskins’ opponents, the Oakland Raiders, sat on their bench with their arms locked, grim-faced. NBC sideline reporter Michelle Tafoya said the team had wanted to remain in the locker room during the anthem but were told they’d forfeit the coin toss and would face a 15-yard penalty.

“I would just ask the president to consider apologizing for the SOB line,” NBC’s Sunday Night Football commentator Cris Collinsworth said.

Don’t count on it. Inside the White House, the latest controversy wasn’t entirely unwelcome to some aides, who regarded the president as being on the right side of public opinion. Protesting players were booed at at least one game, in Detroit. Top administration officials showed no signs of trying to distance themselves from or walk back Trump’s statements, and some of Trump’s outside advisers predicted the fight wouldn’t hurt his support.

The White House will try to pivot off the subject by mid-week when Trump plans a trip to Indiana for a speech on tax issues. Trump and congressional Republican leaders are preparing for a strong push in the next few months to pass the tax legislation, which comes after a series of defeats including their continuing failure to repeal Obamacare.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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