Free Republic

In school, I liked math the least and history the most. Both can be useful in the coming debate over President Trump's proposed tax reforms. The one thing I learned in math class is that if the formula is wrong, the answer will be wrong. In history class, I learned we are not the first people to occupy the planet and that the experiences of those who came before us can be helpful when considering contemporary issues. Since the administration of Franklin D. Roosevelt, the left has presented government as the answer to every problem. The increasing taxes needed to...

If Donald Trump was a start-up, he’d be the perfect disruptor. I spoke yesterday about his Twitter exploits. A tool he uses to great effect in this regard. And whatever you think about him and his policies, there’s no question he ran a brilliant election campaign. Of course, years of railing against the ‘Washington elite’ from the Republican Party sowed the seeds of voter discontent. Seeds Trump happily cultivated. Who can forget the images of enthusiastic crowds — complete with MAGA baseball caps — chanting ‘drain the swamp’ in unison? But the campaign was a lot smarter than a simple...

Republicans in Washington released the framework for their new tax reform plan Wednesday, providing a few specifics on proposals to cut the corporate tax rate, change individual tax brackets, and increase the standard income tax deduction. To be clear, what was made public is still far from a detailed or complete plan. The nine-page framework is intentionally vague, offering up feel-good statements such as "the committees will work on additional measures to meaningfully reduce the tax burden on the middle class."And some aspects of the plan as outlined would apparently offer tax breaks to some middle-class families, such as an...

Bold tax reform got a big boost on Wednesday. Leaders in the House, the Senate, and the White House have all agreed on a tax outline, meaning a true update to our broken tax system could be imminent. First, the GOP tax plan framework would lower taxes for individual Americans. It would double the standard deduction for individuals and thereby expand the zero-percent bracket, and it would create three income tax brackets (down from seven): 12, 25, and 35 percent, respectively. Most simply, this will allow all Americans to keep more of their hard-earned money in their pockets. Importantly, the...

Part of a 1950's series explaining what Marxism-Leninism would mean if implemented in the United States.

Full Title: Fed-up Illinois homeowners consider moving: 'It’s not just the property taxes on my home; it’s all of them'...Some of those who are leaving Illinois say they’re frustrated with their tax burden and the state’s financial situation. After going more than two years without a budget, Illinois lawmakers passed a spending plan over the summer, one that involved a 32 percent income tax hike for residents. The state is still digging itself out of the financial disarray that accumulated during the budget impasse. A Forbes listing of the best and worst states for taxes in 2016, before the tax...

The Senate Budget Committee unveiled a 2018 budget blueprint on Friday that would open the door for a $1.5 trillion tax cut, even as an independent analysis concluded that the plan as offered would far exceed that price tag and overwhelmingly benefit corporations and the rich. The budget resolution could also pave the way to opening the Arctic National Wildlife Refuge in Alaska to oil drilling, a hot-button Republican proposal that has languished for decades.

A feature of the Trump Administration's proposed tax reform plan that has stirred fear among governors of high-tax states is the elimination of deductions for state income and property taxes. New York Gov. Andrew Cuomo (D) called it a "death blow" for his state. "New York has traditionally relied on high taxes to fund the services we provide for our population," the Governor pointed out. "Resistance to these tax high rates has been moderated by the fact that deductions from federal taxes has helped pass some of the burden onto to states that have lower taxes. If we lose that...

President Donald Trump's top economic adviser, Gary Cohn, said today that he can't guarantee that taxes won't go up for some middle-class families under the administration's sweeping tax overhaul. "There's an exception to every rule," Cohn told ABC News chief anchor George Stephanopoulos in an interview on "Good Morning America." "I can't guarantee anything," said Cohn, the director of the White House Economic Council. "You can always find a unique family somewhere." He said Trump's plan is "purely aimed at middle-class families." But Cohn acknowledged that "it depends which state you live in." "A typical family of four earning $55,000...

The swelling population of illegal immigrants and their kids is costing American taxpayers $135 billion a year, the highest ever, driven by free medical care, education and a huge law enforcement bill, according to the the most authoritative report on the issue yet. And despite claims from pro-illegal immigration advocates that the aliens pay significant off-setting taxes back to federal, state and local treasuries, the Federation for American Immigration Reform report tallied just $19 billion, making the final hit to taxpayers about $116 billion. State and local governments are getting ravaged by the costs, at over $88 billion. The federal...

President Donald Trump’s $1 trillion plan to rebuild America’s infrastructure may be unprecedented in size and ambition, but it mimics a controversial scheme championed by Vice President Mike Pence when he was the governor of Indiana. That’s why Pence is the public face of the Trump initiative, and executives from financial firms that helped privatize Indiana’s toll road are in the White House, busily sculpting Trump’s national plan. Pence and his allies like to boast about how Indiana sold control of major roads to private firms, claiming the move prompted corporations to invest money in infrastructure that would otherwise have...

RUSH: We’ve got that. We got the Republican tax plan that was introduced. One thing about these tax plans. You know, it’s okay to have a reaction, and this clearly deserves one, but what they put forth in the early stages is never what they end up voting on. This is gonna go through a whole bunch of changes and other things. And it may never get to a vote like Obamacare. You have to realize what we’re talking about. We’re talking about people who don’t want to really do anything on taxes. They’re forced to make it look like...

PUTTING IT IN PERSPECTIVE   While far from a sure thing, the plan isn't as visceral as cutting Medicaid, and could be an easier lift for the GOP than health care. Trump is reaching out to Democrats, and may find some takers, though they generally panned the plan as a gift to the wealthy. WASHINGTON—Reeling from three failed attempts to “repeal and replace” Obamacare, Republicans are looking to score a political win before the year’s end with an issue they hope will be more unifying for the party: tax reform. President Trump hit the road in Indiana Wednesday to promote...

A Republican-sponsored tax reform plan (PDF) unveiled Wednesday could reduce federal income taxes for many Americans, though the details are sketchy on who would benefit most and who would pay more. The "Unified Framework for Fixing Our Broken Tax Code," released by the Senate Finance Committee, reduces the number of tax rates to three, nearly doubles the standard deduction, and makes more people eligible for child- and adult-care tax credits.It also eliminates most other deductions, including those for state and local income taxes, but keeps deductions for mortgage interest and charitable contributions. The plan also eliminates the alternative minimum tax, or...

Amid a chorus of support from gridlock-weary drivers and the construction industry, Illinois tollway directors approved widening the Central Tri-State Tollway (I-294) Thursday. Officials promised no toll increases but about $120 million for the $4 billion project will come from new fees to be imposed on I-PASS holders when they don't use transponders. A concept plan includes extra lanes, a "Flex Lane" for express buses, and highway interchange improvements at bottlenecks between Rosemont and Oak Lawn. "This is a first step," Chairman Robert Schilerstrom said. "We'll be reaching out to the communities. We're very interested in listening to their input...

Wednesday, September 27, 2017: President Donald J. Trump will give a major speech on tax reform in Indianapolis, IN today. Watch the LIVE stream and replay of the speech here. LIVE: President DONALD TRUMP Gives MAJOR Speech on Tax Reform in Indianapolis 9/27/17 LIVE STREAM LIVE NOW: President DONALD TRUMP Gives MAJOR Speech on Tax Reform in Indianapolis 9/27/17 https://www.youtube.com/watch?v=yjTaKiaTO4w  

President Donald Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades, offering to cut taxes for most Americans but prompting criticism that the plan favors the rich and companies and could add trillions of dollars to the deficit. The proposal, which the Republican president said was aimed at helping working people and creating jobs, faces an uphill battle in Congress with Trump’s own party divided and Democrats hostile. Republicans plan to lower corporate income tax rates, cut taxes for small businesses, reduce the top income tax rate for individuals and scrap some widely used tax breaks including...

President Trump will release a sweeping plan Wednesday to cut taxes and simplify the tax code that will eliminate the deduction for state and local taxes — a move that Gov. Andrew Cuomo has warned would be a “death blow” for New York.

Congressional Republicans on Wednesday unveiled the framework for their long-awaited tax-reform plan, which simplifies the tax system and cuts rates for businesses -- while attempting to boost household incomes by nearly doubling the standard IRS deduction used by most Americans. “Today, we move one step closer to fixing our broken tax code," House Speaker Paul Ryan, R-Wis., said. "This is our best opportunity in a generation to deliver real middle-class tax relief, create jobs here at home, and fuel unprecedented economic growth.” The framework plan calls for increasing the standard deduction to $12,000 for individuals and $24,000 for families, which...

Rep. Mo Brooks (R-Ala.) on Tuesday called for an end to all federal government support of the NFL amid controversy over players taking a knee in protest during the national anthem. "I believe we ought to terminate all federal government support of the NFL," Brooks told Breitbart News. "That would include the termination of any and all advertising that is done on behalf of the federal government — military and nonmilitary — to the extent we do any." "The same thing with any other professional sport that insults our country and our flag and our anthem as the NFL has...