Skip to comments.If itís going to hurt Californians, a conservative says, postpone some of the tax plan
Posted on 11/09/2017 12:21:05 PM PST by Mariner
In the last four national elections, Americans made it clear that we wont accept the economic stagnation weve suffered during this past decade. Obamas policies of higher taxes and greater regulatory burdens suppressed economic growth to a dismal 1.5 percent annual average about half the post-war growth rate of three percent.
Reagan averaged 3.5 percent annual growth by reducing the tax and regulatory burdens crushing the economy. The result: one of the greatest economic expansions in American history.
The Trump administration has made significant progress on regulatory relief, as attested by rising wages, employment opportunities and consumer confidence. But tax relief is vital to finish the job.
The imperative should be clear. The American corporate tax rate of 35 percent is the highest in the industrialized world. True, lots of special interest loopholes to politically connected companies bring the average rate to 18.6 percent. Thats precisely the problem: Companies that havent gotten these breaks have fled the country taking trillions of dollars and millions of American jobs overseas.
By closing the loopholes and lowering the rate to an internationally competitive 20 percent, economists tell us we can add $5 trillion to the American economy over the next decade (averaging $40,000 per family).
(Excerpt) Read more at sacbee.com ...
Go for the business cut now. Reduce individual rates 1% across the board.
And stop right there.
Come back in 2019 and go for the rest.
BTW, the entire California GOP delegation is turning. Darrell Issa was on the radio this morning downtalking these current proposals like the redistributionist crap they are.
By the time the vote comes around, Kevin McCarthy will be the ONLY CA GOP House member on board.
Remember, between CA, NJ, NY and IL ALONE there are 34 Republican House members.
And I'll be surprised if 2 of them vote for this crap.
That's not a majority folks.
So basically, Republicans get nothing done. AGAIN.
They will lose their majority in no time working like this.
California doesn’t concern me much.
You need our votes, and our money.
If you don’t want our money, just know you can’t do jack without our votes.
End the SALT loophole corporate subsidy- Tom doesn’t address that though it fits his focus. Noobody does.
(Though there’s talk of ending it for “pass through” businesses.)
“Come back in 2019 and go for the rest.”
You mean wait until the RATs have regained control of both Houses of the Congress because the RINOs sat on their hands? Bull$hit! Do It Now! And as a conservative Californian, I really don’t care whether or not it’s “completely fair” to me, because unlike the worthless a$$holes in Maine who just voted themselves more Medicaid, I care more about the country than getting more than my share of the pie!
that’s what they want. they don’t want to be in the majority under Trump. they want things to be business as usual with the UNIPARTY. They want open borders and big government and corporate welfare.
Tom lost his luster long ago
He is part of the swamp these days
“End the SALT loophole corporate subsidy- Tom doesnt address that though it fits his focus. Noobody does.”
That’s because the focus has been on the Corporate Cut, something necessary for robust growth.
It’s the only redeeming quality in either the House or Senate plan.
Actually, I don’t need jack from California. I wish their people would quit coming to Texas.
The CA GoP is dead.
The Recall and the CaGoP jumped on the aRnie wagon and have never owned up to the disasters that that allowed to happen here.. from globull varming legislation to cap-and-tirade against ‘deniers’ to padding already massive contracts for education and prisons.. and more.
Thanks, Tom, you tried.
Thanks for following his career from Georgia so closely that you think he is a swamp critter. ;=)
So if the Kalifornia Congressional caucus is so strong why is it that Kalifornia doesn’t get back what it pays in(which opponents to this bill are claiming)? Seems like a failure of your elected officials from both sides.
No. The focus (and the focus of Tom’s essay) has been on eliminating loopholes.
It’s a loophole. And terrible policy.
If they go through with either the House or Senate plan, as proposed, they are certain to lose both houses of Congress.
That’s as certain as the day is long.
There will be no such thing as a Republican House member from CA, IL, NY or NJ.
Each and every one of those 34 will be unelected.
With Texas being the 3rd largest recipient of SALT deductions, net, in the country Ted Cruz’ seat is at risk in 2018 if these pass as is.
You also forgo the opportunity to pick up seats in FL, OH, PA and MI should we stumble elsewhere.
If they pass this crap sandwich, the Republican majorities are history.
Of course they need to pass SOMETHING to avoid be properly assessed as corrupt clowns.
McClintock offers them a way out.
You need the votes if you want something through the House.
Fine by me
See no reason to pay taxes on taxes
They can double the standard deduction too
Then figure out how to stop spending - because that’s the real problem
How many people here remember that prior to the 1980’s ALL interest paid was deductible, including consumer credit?
They “fixed” that by raising the standard deduction (same gig) but the principle remains the same...there shouldnt be double taxation of the same money
“So if the Kalifornia Congressional caucus is so strong why is it that Kalifornia doesnt get back what it pays in(which opponents to this bill are claiming)? Seems like a failure of your elected officials from both sides.”
They are ONLY strong when you try to put together a Republican-only majority. They usually vote the way Kevin McCarthy tells them to, but now are breaking ranks.
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