Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: Dos Equis on August 10, 2017, 03:40:39 PM
-
Good commentary. Spot on.
Americans need tax cuts, plain and simple
BY JONATHAN WILLIAMS, OPINION CONTRIBUTOR
08/10/17
It has been more than 30 years since Washington fundamentally redesigned the federal tax code. The great Ronald Reagan was president, and according to the seminal book on the 1986 tax rewrite, "Showdown at Gucci Gulch," that successful tax reform effort was years in the making.
There is a good reason why comprehensive tax reform is so difficult: There are far too many sacred cows that live within our monstrosity of a tax code. Meanwhile, job creators face some of the highest tax rates in the entire world. As our economic competitors have reduced taxes, America has fallen behind by simply standing still. We have hobbled through the weakest economic recovery since World War II.
Imagine if Congress could solve this massive burden facing hardworking taxpayers and put a fix on the desk of President Trump before the holidays. They can, if they learn from the lessons of the past months and the attempts to repeal ObamaCare.
Simplicity is key. Not only would our tax code benefit from simplicity, but the efforts to pass pro-growth tax cuts would as well. Because hardworking taxpayers need to be protected instead of simply shifting the tax burden through revenue-neutral tax reform, it is time for real tax relief at the federal level.
After repeated ObamaCare fixes were mired in the clay of political complexity, tax relief can avoid the same depressing Beltway fate and give hardworking American taxpayers a much-needed win in 2017.
The plan that will provide real results for hardworking taxpayers is providing significant deficit-neutral tax cuts to boost economic health. Citizens directly gain the benefit of a lower tax burden through greater economic growth, greater wealth creation and less micromanagement of personal decisions.
When proponents of tax cuts tie themselves to the false notion of revenue neutrality, they ensure tax increases and complexity are included in the package. Thus, they create too many economic losers in the process. Deficit-neutral tax relief combines budget prioritization and tax cuts in a win-win formula that also reduces government waste.
What would a significant net tax cut mean for job creators? A recent poll conducted by Job Creators Network shows how tax cuts for small businesses directly benefit hard-working citizens. A majority of small businesses would reinvest tax cuts back into their business and employees through capital investments, wage increases, new hiring and expansions. Furthermore, nearly half of small business owners responded by saying a tax cut is the policy reform that would help their business the most.
For years, states have lead the way by providing substantial tax cuts. Federal efforts should follow the lessons learned from successful tax relief efforts at the state level. These case studies show that substantial tax relief yields a healthy economy, job growth and greater take-home pay. In the past year alone, nine states significantly reduced taxes, according to the annual American Legislative Exchange Council (ALEC) report, State Tax Cut Roundup. In 2015, 17 states provided substantial tax cuts. All told, in the past four years, nearly 30 states have significantly reduced their tax burdens.
North Carolina provides a clear example of the benefits of pro-growth tax cuts and budget prioritization. After significant tax cuts, the Tar Heel State led the nation with 13.4-percent growth in its GDP from 2013 to 2015. Over the last 10 years, North Carolina has attracted more than 500,000 new residents on net from the other 49 states, earning the economic vitality, social capital and tax revenue from these new taxpayers. North Carolina, with America’s third best economic outlook, serves as a textbook example of what pro-growth tax relief can do for an economy.
All Americans — Republicans, Democrats and Independents — can agree on this: We deserve better results from our federal government, and we need more economic growth. Instead of falling into Washington’s infamous complexity trap, which for years has led many good policy reforms into the graveyard, now is the time to provide taxpayers a simple policy fix that will provide real tax relief and restore the health of the American economy.
Jonathan Williams is the chief economist of the American Legislative Exchange Council (ALEC) and the vice president of the Center for State Fiscal Reform. Williams also authors ALEC's annual Rich States, Poor States study on state economic health.
http://thehill.com/blogs/pundits-blog/economy-budget/346093-americans-need-tax-cuts-plain-and-simple
-
Tax cuts didn't do shit for job growth in Kansas. I recall hearing interviews with business owners in Kansas who said that receiving tax cuts doesn't create more demand for their business (no shit) and they just pocketed the savings. Nothing wrong with that of course but stop trying to sell us this load of shit that tax cuts create more jobs
Republican legislators in Kansas did the unthinkable this month: They voted to raise income taxes, ending a painful five-year experiment with an extreme anti-tax agenda introduced by Republican Gov. Sam Brownback. The Republican-held Legislature had to override a veto by the governor to pass the emergency tax increase, now crucial to prevent deep budget cuts for schools and other essential public services.
Kansas embarked on its trickle-down experiment in 2012. Brownback slashed taxes across the board, calling his plan “a shot of adrenaline into the heart of the Kansas economy.” Five years later, the state’s economy is on life support, and government expenses are expected to outpace income by $1.1 billion through June 2019. Instead of a poster child for the small-government theories championed by economist Arthur Laffer, tax reform activist Grover Norquist and the rest of the Republican Party, Kansas has become a cautionary tale about what happens when you expose their economic ideas to sunlight.
Meanwhile, a state that Republicans love to mock – California – has done just the opposite. In November of 2012, the same year Kansas plunged into its tax-slashing experiment, more than 54% of California voters approved Proposition 30, a measure that temporarily raised income taxes for the state’s wealthiest residents and increased the sales tax in order to fund schools and pay down debt. The tax hikes helped California erase $27 billion in debt, and the state has since enjoyed some of the strongest economic growth in the country. (Of course that growth isn’t due to tax hikes alone; the state has a robust tech sector, among other factors.)
http://www.latimes.com/opinion/op-ed/la-oe-steyer-kansas-tax-cuts-brownback-california-20170622-story.html
-
Churches are tax exempt and can't be directly involved with politics due to the Johnson amendment (1954).
Maybe we should all form religious organizations and work in various churches LOL.
-
.....yep
-
Hey Coach, you ever notice that the Tax brackets and laws tend to favor the really poor or very wealthy, the most?
If you're piss broke, you pay nothing.
If you are uber rich, you can exploit tax shelters and loop holes .
-
Hey Coach, you ever notice that the Tax brackets and laws tend to favor the really poor or very wealthy, the most?
If you're piss broke, you pay nothing.
If you are uber rich, you can exploit tax shelters and loop holes .
Its legal Howard. My suggestion for the poor is to get rich.
-
Hey Coach, you ever notice that the Tax brackets and laws tend to favor the really poor or very wealthy, the most?
If you're piss broke, you pay nothing.
If you are uber rich, you can exploit tax shelters and loop holes .
Sounds like more dishonest "fair share" liberal talking points. The "uber rich" pay most of the federal income taxes in this country, and half of all income earners pay zero.
-
Republicans need to stop lying to themselves and everyone else that tax cuts create jobs
Sam Brownback vowed to prove this in his state and it was an EPIC DISASTER from the get go.
How the grand conservative experiment failed in Kansas
When then-Sen. Sam Brownback was elected governor of Kansas in 2010, he promised to turn the state into a fiscal conservative paradise. For residents of the Sunflower State, the intervening years have fallen well short of that dream. Brownback's struggles reached a climax earlier this week when the strongly Republican state legislature jettisoned the tax cuts that had been the centerpiece of his governing vision.
While a lot of the country swung to the right in 2016, Kansas swung back toward the center. Moderate Republicans ousted conservative incumbents in the August primary last year, and Democrats also made gains in the November general election -- even though the state went for Trump by double digits. These candidates won their elections specifically by campaigning on a promise to repeal Gov. Sam Brownback's 2012 tax cuts.
These tax cuts, which Brownback had promised would lead to astronomical job growth, had really become politically toxic over the last four years. The state was running into a budget crisis every six months pretty much from November 2014 onward. For the current year, Kansas faced a roughly $900 million budget shortfall (over the next two years) and an order from the Kansas Supreme Court to increase education funding, so raising taxes was pretty much unavoidable unless you really wanted to make deep cuts to everything but K-12 education. And after three sessions of looking for one-time fixes, I think a lot of members of the Legislature were just ready to end the perpetual budget crisis.
Don't lose sight of the fact that this was a bipartisan effort. No faction of the Legislature -- Democrats, moderates, conservatives -- held enough seats to pass a tax plan on their own.
http://www.cnn.com/2017/06/09/politics/sam-brownback-kansas/index.html
-
Republicans need to stop lying to themselves and everyone else that tax cuts create jobs
Sam Brownback vowed to prove this in his state and it was an EPIC DISASTER from the get go.
http://www.cnn.com/2017/06/09/politics/sam-brownback-kansas/index.html
You don't catch on very well, do you?
-
You don't catch on very well, do you?
why don't you tell us what happened in Kansas
-
Hey Coach, you ever notice that the Tax brackets and laws tend to favor the really poor or very wealthy, the most?
If you're piss broke, you pay nothing.
If you are uber rich, you can exploit tax shelters and loop holes .
Coach doesn't pay taxes. Guess which end he is on?
-
why don't you tell us what happened in Kansas
Why don't you watch the video and learn something for a change
-
Why don't you watch the video and learn something for a change
when you learn how to embed a YT video then maybe I'll watch it
I assumed you've watched it so why do you just sum it up for us
-
when you learn how to embed a YT video then maybe I'll watch it
I assumed you've watched it so why do you just sum it up for us
I've watched and almost everything on Milton Friedman and Thomas Sowell. But back to your excuse, if I recall your side lost because of excuses and still use excuses to use for your loss
-
I've watched and almost everything on Milton Friedman and Thomas Sowell. But back to your excuse, if I recall your side lost because of excuses and still use excuses to use for your loss
Is that your summation of the video?
Do some research on what actually happened in Kansas when Brownback vowed to prove once and for all that tax cuts stimulate the economy and create jobs ...thus increasing overall tax revenue
fast forward to the end
Less jobs than states that didn't cut taxes (business owners in Kansas said that receiving the tax break was nice but didn't create additional demand for their products or services so they just pocketed the gain)
It did create massive drop in revenue that resulted in devastating budget deficits for the state and eventually the state legislature was able to come together in a bipartisan way to roll back Brownbacks 2012 tax cut with a veto proof majority
http://www.kansascity.com/news/politics-government/article154691724.html
-
Sounds like more dishonest "fair share" liberal talking points. The "uber rich" pay most of the federal income taxes in this country, and half of all income earners pay zero.
Not exactly.
I'm for more of what Reagan did in terms of tax policy and effective revenue collections
http://nation.foxnews.com/2017/08/04/reagan-cut-taxes-revenue-boomed
-
I've watched and almost everything on Milton Friedman and Thomas Sowell. But back to your excuse, if I recall your side lost because of excuses and still use excuses to use for your loss
So when Obama was in office and had the house and the senate, "your side" (Which is bullshit btw... It's our side because we are the citizens) didn't make up excuses?
-
Not exactly.
I'm for more of what Reagan did in terms of tax policy and effective revenue collections
http://nation.foxnews.com/2017/08/04/reagan-cut-taxes-revenue-boomed
Oh please. Your comments were trying to imply that the "rich" don't pay their "fair share," an oft-repeated liberal lie.
-
Oh please. Your comments were trying to imply that the "rich" don't pay their "fair share," an oft-repeated liberal lie.
Many rich people pay lots of taxes. Many middle class people pay lots of taxes. The fact that we continue to spend more than we bring in is the problem.
I haven't seen spending get curbed one damn bit under Trump and he's just going to continue to burn through more debt.
Did the debt clock all of a sudden start going in reverse? Nope. Still climbing and at this rate, by 2021, we will be 22 Trillion. (One good war and we are well into 23 trillion)
-
Many rich people pay lots of taxes. Many middle class people pay lots of taxes. The fact that we continue to spend more than we bring in is the problem.
I haven't seen spending get curbed one damn bit under Trump and he's just going to continue to burn through more debt.
Did the debt clock all of a sudden start going in reverse? Nope. Still climbing and at this rate, by 2021, we will be 22 Trillion. (One good war and we are well into 23 trillion)
I agree with this.
Spending, corruption and waste cutting would make paying taxes a little more bearable.
-
Many rich people pay lots of taxes. Many middle class people pay lots of taxes. The fact that we continue to spend more than we bring in is the problem.
I haven't seen spending get curbed one damn bit under Trump and he's just going to continue to burn through more debt.
Did the debt clock all of a sudden start going in reverse? Nope. Still climbing and at this rate, by 2021, we will be 22 Trillion. (One good war and we are well into 23 trillion)
I don't think Trump has had a chance to really reign in spending. I'll give him a couple years before I judge that .
-
I'm all for tax cuts
Republicans just need to stop lying about how tax cuts will create jobs and increase tax revenue
Just be honest and say we'll cut taxes and we'll also cut spending to pay for the tax cuts
-
Oh please. Your comments were trying to imply that the "rich" don't pay their "fair share," an oft-repeated liberal lie.
The plain truth is that the very large companies , find a variety of modern loopholes to exploit.
For example, GE paid zero effective taxes a few years ago.
GE is also the parent company for NBC, MSNBC, etc
Not exactly champions of conservative media ...
Back in Reagan's era, large corporations paid more taxes, despite having a low % rate.
Therefor , the GOV actually collected more revenue in the 1980's.
There is a HUGE difference between tax rates and actual collection of tax revenue.
Mitt Romney brought this up when he ran back in 2012.
The avg citizen glossed over and didn't want to listen or understand how this really works.
Here some interesting info about it from the Heritage foundation.
http://www.heritage.org/taxes/report/tax-cuts-increase-federal-revenues
FYI, my wife and I have been members of the heritage foundation for many years.
For some reason you mistake me for a liberal?
The reality is I'm quite fiscally conservative, and very strong on gun rights, military and police.
-
I don't think Trump has had a chance to really reign in spending. I'll give him a couple years before I judge that .
That's fair. I'm judging based on his statements he's made about certain things up to this point.
Time will tell.
-
That's fair. I'm judging based on his statements he's made about certain things up to this point.
Time will tell.
Trump doesn't intend to reign in spending
He wants to spend a trillion on infrastructure and big increases in military spending while also cutting revenue (aka - taxes)
https://www.theguardian.com/us-news/2017/apr/12/donald-trump-infrastructure-bill-cost-private-airports-dams
He also wants us to pay for his stupid wall
-
The plain truth is that the very large companies , find a variety of modern loopholes to exploit.
For example, GE paid zero effective taxes a few years ago.
GE is also the parent company for NBC, MSNBC, etc
Not exactly champions of conservative media ...
Back in Reagan's era, large corporations paid more taxes, despite having a low % rate.
Therefor , the GOV actually collected more revenue in the 1980's.
There is a HUGE difference between tax rates and actual collection of tax revenue.
Mitt Romney brought this up when he ran back in 2012.
The avg citizen glossed over and didn't want to listen or understand how this really works.
Here some interesting info about it from the Heritage foundation.
http://www.heritage.org/taxes/report/tax-cuts-increase-federal-revenues
FYI, my wife and I have been members of the heritage foundation for many years.
For some reason you mistake me for a liberal?
The reality is I'm quite fiscally conservative, and very strong on gun rights, military and police.
You've said too many things that are false to accept anything you say at face value, which includes your comments about tax rates, tax revenue, etc.
You perpetuate the "fair share" lie, an absolutely false liberal talking point, then try and peddle another incredibly misleading liberal talking point about the big bad boogeyman corporations not paying taxes. And you ask why I call you a liberal? ::)
-
You've said too many things that are false to accept anything you say at face value, which includes your comments about tax rates, tax revenue, etc.
You perpetuate the "fair share" lie, an absolutely false liberal talking point, then try and peddle another incredibly misleading liberal talking point about the big bad boogeyman corporations not paying taxes. And you ask why I call you a liberal? ::)
Your reply proves just how clueless you are, when it comes to me .
For whatever reason(s), I've failed to effectively communicate on this forum.
If we all talked in person, who knows, but that's never gonna happen.
I want to offer a sincere thanks for allowing me to post and interact here.
No hard feelings and I hope everyone can understand my frustration .
Let me end by saying , the Mueller -Russia investigation will be the end to the Trump Presidency.
I just hope and pray nobody here tries to run me over, if that prediction comes to pass.
:D It's been real
It's been fun
BUT...it hasn't been real fun.
-
Your reply proves just how clueless you are, when it comes to me .
For whatever reason(s), I've failed to effectively communicate on this forum.
If we all talked in person, who knows, but that's never gonna happen.
I want to offer a sincere thanks for allowing me to post and interact here.
No hard feelings and I hope everyone can understand my frustration .
Let me end by saying , the Mueller -Russia investigation will be the end to the Trump Presidency.
I just hope and pray nobody here tries to run me over, if that prediction comes to pass.
:D It's been real
It's been fun
BUT...it hasn't been real fun.
Frustrated by stuff posted on a message board. Priorities.
Typed all that without saying a single substantive thing. Like addressing that fair share lie, or the proper context of corporate taxes. About what I expected.