Posted on 09/15/2017 8:21:42 AM PDT by SeekAndFind
Is the GOP getting serious about tax reform at last? Republicans in Congress say they'll unveil the outlines of a consensus plan in two weeks, as President Trump hits the hustings to stump for tax reform. We hope this isn't another false start.
"Reform" is one of those words that sounds easy, but really isn't. Every political interest group has a dog in the fight, and no one wants to give up a cherished deduction. And few politicians want to be seen as cutting taxes on Americans in the top income brackets or corporations, a sure way to be accused of "tax cuts for the rich," as the progressives' anti-tax-cut mantra goes.
Still, it seems as if both Congress and the president are aware that time is running out, and that next year — a midterm election year for Congress — doing anything bold or smart might not be politically possible. The political window is still open, but it might shut soon.
A poll released Thursday by the pro-tax reform Club for Growth, conducted by Fabrizio, Lee and Associates, put it bluntly: "If Republicans fail to pass tax reform, the situation will be bleak. Nearly 1 in 5 will oppose members if they do not pass tax cuts. Another 25% of Republican voters will not support either party — meaning they will likely not vote at all."
For a party desperate to maintain control of both houses of Congress, this is not good news. Our own IBD/TIPP polling shows that Americans overwhelmingly blame Congress, not President Trump, for Washington's current gridlock by nearly 3-to-1. Since Republicans are in control, that should be a warning both to the party's leaders and its followers.
That's why we're heartened to know that the GOP is taking seriously the need for tax reform,
(Excerpt) Read more at investors.com ...
What are Pelosi and Schumer demanding to get their support for tax cuts?
With a Republican in the White House the GOP on this Hill wants nothing more than to be in the minority.
Collins and Murkowski are almost always against the GOP plans but now no brain McCain and gripen Graham have almost s\assured nothing will pass.
Unless a conservative party is formed, where can one go?
The GOP needs to be fired...we can do it...
In the past 100 years (a little less, actually), we’ve cut taxes four times. It has failed to grow the economy every time but four.
What’s to think about? Somehow when Democrats have a majority they can bring a package forward pretty quick. It’s been a year since DJT outlined his tax agenda. Cut corporate taxes, and if 15% doesn’t sit well, then make it 20%. Just give us something. Is the GOP Senate against corporate tax cuts? What exactly have they gotten accomplished since January? A resolution against white supremacy? Wow. Stunning.
I agree with a proviso. You do get to a point where the benefit slows down. For example cutting a personal rate from 15% to 14% isn’t going to do much. With the highest rate at 39.5% though, there is lots of room to cut. And of course you can’t cut anymore for about 40% of the population that pays ZERO.
Personally I think the corporate tax cut is fundamentally more important.
Cut personal rates, corporate rates, capital gains rates, and FICA. Watch the economy grow.
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