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Category Archives: Taxes
Taxes and the Budget at Year’s End
The tax reform plan that Congress is producing will not be perfect. Nothing is…The starting point for any inquiry should be the purpose of the legislation and whether the developing product generally would move the law in the direction envisioned by the legislators. The stated purpose for this tax bill is to simplify the code for most individual taxpayers and reduce taxes for both individuals and businesses in order to spur economic growth. The theory, which has generally proven correct in the past, is that tax cuts lead to economic activities which cause job growth, improve wages, and make society more prosperous on the whole.
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Tagged 2017 tax cuts, child tax credit, eitc, local tax deduction
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The Tax Cuts and Jobs Act: Many Won’t “See the Forest for the Trees”
The Tax Cuts and Jobs Act currently being considered by the Congress, according to Martin Feldstein, Chairman of President Reagan’s Council of Economic Advisors and renowned Harvard Economics professor, “could increase the U.S. capital stock by $5 trillion and cause … Continue reading
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Understanding the Federal Budget: Part III The Budget and Taxes
In response to the U.S. Senate passing a budget for the next fiscal year, which includes reconciliation instructions to cut taxes, the U.S. House of Representatives will now proceed to the process of crafting tax legislation. Continue reading
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Tax Cut Opponents Are Simply Wrong
Most liberal-left activists simply cannot support tax cuts. They can’t help it. It is in their DNA. They firmly believe that money spent by government is always better than money spent by taxpayers. They don’t understand that more money in the taxpayers’ pocket means more money spent on shoes, movie tickets, dinners out and new clothes. The economy improves when this happens and that means more money to the government without tax increases. Continue reading
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Understanding the Federal Budget: Part II
In response to the president’s budget submission in May, the House Budget Committee has produced the 2018 Budget Resolution and reported it to the full U.S. House of Representatives. This is the second step in producing the annual budget for … Continue reading
Posted in Government Reform, Taxes
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