I’m certain you remember one of the President’s campaign promises, which was to lower corporate and individual taxes. Good Luck Mr. President! What seems to be happening, according to a current Journal column, is that Trump is a President without a party. RINOS (Republicans in name only) all promised to back Trump, and far too many have not done so, so Trump is now reaching across the isles to attempt to win a few Democrats over to his efforts to save America. It won’t be easy. John McCain is disgusting, and Rand Paul has lost me. Does Maine’s Collins have a speech defect, or a brain deficiency?
An NPR report said over a billion dollars has been spent lobbying Congress to defeat any Trump tax reduction proposal. Why? Because if people could fill out their tax returns on a postcard, or at least make them ultra simple, as opposed to current tax forms, thousands of accountants would be out of business, all the tax return computer programs would be obsolete, and lots of IRS employees would also be out of a job. Hundreds of millions of American hours would be saved by not having to labor over tax returns, or paying hefty fees to someone who understands them. Does anyone? Remember, the IRS code has more words than the Bible, and reliable officials admit that really no one understands them totally, they are so contradictory in places.
The Congressional budget office (CBO, supposedly non political, but not so) says Trump’s tax proposal would cost a couple of billion dollars in deficits over ten years. They conveniently forget that Obama doubled the national debt in eight years. Most seem to forget that Reagan lowered taxes, and America received far more tax revenue, and new prosperity created by lowered taxes. Too many Republicans and most Democrats say that Trump’s tax cutting would increase the debt astronomically. Two billion in ten years, even if it were true, and it isn’t, is microscopic compared to Obama’s and Democrat’s reckless spending over eight years. I can only say that if Americans had more money to spend, due to lower taxes and costs to pay them, they would spend the money buying things, which would boost employment and tax collections. It’s so damned obvious.
When a retailer wants to move a slow item, what does he do? He puts it on sale. The item wasn’t selling too well, and customers didn’t particularly like the item, but when the price is cut, it takes on a new beauty. If you have to spend lots of dollars paying your taxes and filling out the forms to do so; reducing both, would be the same as a retailer placing something on sale. The newly found wealth would be spent. How much does it cost to pay taxes, not counting the actual bill? American corporations, many times, spend almost as much doing complex taxes, as they make in profits. Trump wants to cut corporate taxes by half or more, so they can bring the money back to America, rather than hoarding it in Ireland or some other nation with low taxes.
“Any fool can complicate, but it takes true genius to simplify.” I think I coined that, but maybe not. I have a bumper strip from Trump that says “DRAIN THE SWAMP.” The swamp is populated with politicians who have lost sight of the rest of us, but are intent on staying in office forever it seems. How about term limits? That would drain the swamp. – Don Stott – 1-888-786-8822. 75 degrees and sunny here yesterday. God lives in Colorado.