Posted on 11/29/2017 12:10:36 PM PST by Jim Robinson
Senators Bob Corker (R-TN) and Jeff Flake (R-AZ) are demanding that the tax reform bill include a trigger that automatically raises taxes in the future if tax receipts fall below projections.
This is a bad idea. Raising taxes is never a good policy, but this provision also adds complexity and uncertainty to the tax code that will limit its impact on economic growth.
Bob Corker and Jeff Flake want people to believe they're concerned about the deficit, but if that were true they would not have supported so many bills to increase the debt limit and increase spending.
If there is going to be a budget trigger, shouldn't it automatically cut spending which is the real problem in Washington?
The tax trigger should be rejected and the tax rates in the bill for individuals should be lowered so no American, regardless of where they live, has to pay higher taxes.
As we mentioned before, we also believe that any side deal to allow for the passage of health insurance company bailouts should be categorically rejected. This is something Senator Mitch McConnell (R-KY) promised the moderates in the Senate and it's a bad idea.
The only way to make health coverage more affordable is to repeal Obamacare's benefit mandates, which have forced Americans to buy things they don't want...
Corker, Flake and Maine-Woman (O’Bama care mandate lover that she is) are making this not worthwhile. This ‘reform’ bill is getting worse and worse.
I say start over, double the personal exemption?
Hell No. not 2x, how about 10x.
That’s how you get to a flat tax.
“So it’s up to patriots to finish the job that they started in 2016 elections by electing Trump president.
More specifically, patriots must now be making sure that there are plenty of state sovereignty-respecting, Trump-supporting patriot candidates on the 2018 primary ballots, and pink-slip career lawmakers by sending patriot candidate lawmakers to D.C. on election day.
Drain the swamp! Drain the swamp!”
Exacttly right. Well said
Exac
Going down in flames, trying to pull the rest with them.
Worthless wastes of oxygen!
Include a trigger that if revenues aren’t met in three years, it would automatically cut spending and the paychecks of every Federal employee!
How’s that for a trigger!!?!!
Well this is no surprise. How about a compromise trigger that would authorize the president to impound funds in tax receipts don’t reach a certain level; thereby the onus would be spending reductions, not tax increases.
One of the easiest ways to determine where a problem lies is to observe where compromise is acceptably “compromise”.
Because “compromise” is always on the funding side it is relatively easy to determine that funding is not the problem: spending is the problem.
Or another way to look at this is that when it comes to spending the “compromises” are nominally compromises in the rate of spending growth AND in the rate of tax INCREASE.
This is another aspect of what I call Keystone Keynesianism, where “Keystone” is as in Keystone Cops.
Now, Nixon infamously said that we are all Keynesian now ... but he was WRONG!
Maybe for a brief time his claim may have seemed reasonable but there is a fundamental disconnect in Keynesian economics from observed human behavior as well as the observed behaviors of human institutions.
Keynes said that government spending should run counter cyclic to the economy: that government should spend more in bad times but less in good times.
Where the disconnect arises is that REAL politicians, as they migrate to a Keynesian attitude that government spending creates stability (and even prosperity in the minds of those who are fully Keystone Keynesian) quickly come to the point of seeing bad times as the DEMAND for more spending and good times as the OPPORTUNITY for more spending.
Politicians are interested in having their jobs and so we should not be surprised by this.
But should we be unsurprised that ordinary people ALSO manage their affairs in this way? Only instead of their political jobs they think in terms of their needs and wants.
When they are just getting by they may “need” more than they can afford so they borrow; yet, in good times they “want” more so their borrowing accelerates.
Economics IS NOT a study of the movement of money. It IS the study of humans as they move money about. That means it is ultimately a philosophy on being human.
No matter how clever an economic theory may appear to be if it gets human nature wrong it should be considered spurious. Keynesian Economics presumes a level of cultural accountability that human societies don’t innately possess and thus it is a failure, can only be a failure, and will only lead to failure.
Adam Smith had his theory right because he looked at what sort of economy allowed people to become richer; but, Keynes was wrong because (I will maintain) he looked at what sort of economy will be rational.
(Just as, not coincidentally, socialists get things wrong because they look at what sort of economy will be fair.)
So in light of all that what general tax or spending policies should be advanced?
Well, a tax code that requires periodic debate (no block authorizations of unread bills should be allowed) and reauthorization or it goes away might be a nice start, but unless we deal with the underlying spending disease all that will achieve (as desirable as the achievement may be) will be tax code simplification as lazy legislators go for the path of least resistance and that means debating a smaller tax code. Even then it will take time for that benefit to appear.
It is important to note, though, that that doesn’t prevent simple but high taxes.
To deal with the real problem, the spending problem, needs people to know more about the likes of Adam Smith and less about the likes of Marx. And to accept more about Adam Smith’s ilk and reject the crap that Marx and related vermin postulated. It takes wise people to turn away from foolishness.
Which brings us to what lay behind the real problem: the abundance of foolishness. A people that (individually) abuses credit, a credit abusing people: should they not expect a government that abuses credit too? Especially when they demand it provide things like fairness and economic security for individuals?
I’m gonna say: yeah ... just as stink gets stinkier the deeper and wider the cesspool so too does madness at the top of society get worse as madness spread deeper to even the roots.
So the policies we need is the systematic removal of progressivism, of the socialist urge.
Small coincidence the folks we nominally rely on to fight the madness are GUTLESS WONDERS: they have the same infection, it started with Republicans, and they are still the Me Too Republicans even if the Democrats in their zeal for madness have boldly marched on till the likes of FDR might seem conservative by comparison.
I’m not optimistic such leadership is even available. Especially while We The People are so spendthrift in our own affairs.
I think there should be some type of law that states, any law, amendment, rule change, etc etc, that comes from:
Any Democrat, Flake, Corker, Rubio, McCain, Collins, Murkowski, Thune, Cornyn, Issacson, Alexander, Shelby, Cochran, Lankford, Sasse, Barasso, Graham, Wicker, McConnell, Ryan, McCarthy, Scalise, King(NY), Gardner, Ernst, Capito, etc etc etc
Should automatically be dismissed like a fart in a fan factory.
Very well written and I agree with it all. To add a bit though, I think some cultures are not capable of operating in an free system and I am beginning to think there are cultures that are incapable of any high level of civilization. On a much more mundane level, the power to impound funds would give any president but especially the current one enormous power to make things ‘right’.
This is what happens when country club globalists run the party.
The “trigger” and automatic increased taxes being pushed by these RINO socialists, will motivate some “offshore” to stay offshore, and cause apprehension amongst long term business strategy.
The 3 anti-American liar amigos would betray their own children!
At the end of the day, they are the ones who will be despised by true freedom loving Americans!
It is ALL pipedream, but if Republicans were serious, we would just go nuclear on all voting, and we would go ALL IN for a national sales tax, and end the IRS!
Then we would have a NATURAL ANNUAL BUDGET! AND likely an economic boom which would leave the entire world looking as dynamic as pea gravel.
ADDITIONALLY, if we really want to usher in an exploding and long term dynamic business renaissance, we would get rid of corporate taxes, (AND THINK ABOUT THIS), we would not penalize or tax corporations for moving OUT of the USA.
If businesses actually had this much freedom of movement, they would feel and know it was safe to return, and not have the well founded fear of being stuck in the US, with imminent massive tax increases when Democrat Socialists impose them in the future!
I am not so sure that McC of AZ is going anywhere any time soon.
Geraldo has already apologized and told us to stop talking about this. It’s not his shining moment.
>>Geraldo has already apologized and told us to stop talking about this. It’s not his shining moment.
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The post you are replying to has a post date of Nov. 29. At the time, AFAIK, he had not apologized at that point.
But, since he apologized, like Franken, I guess that makes everything peachy keen. And since he has directed us to stop talking about it, I guess we’d better follow orders!/s.
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