BETWEEN THE LINES
8 REASONS MOST AMERICANS DON'T LIKE TAX CUTS
Exclusive: Joseph Farah busts biggest myths concerning Trump's reform
Republicans are counting on their tax-cut bill to strengthen their position in the 2018 mid-term elections that will determine which party controls Congress for the next two years.
With Republicans holding tenuous control of the House and Senate, the election in 2018 will determine how much President Trump can get done in the last two years of his first term.
But polls show Americans surprisingly unimpressed with the recently approved bill to cut taxes.
Not one major survey shows popular support for the tax-cut bill.
The question is why. Why do most Americans, according to the polls, oppose the legislation?
Thank President Trump for all his accomplishments during his first year in office. Send him a FREE card of your choice. Go to ThankTrump.us
I’ve studied all the poll results, and here’s what I’ve found:
1) Democrats and the media have persuaded many voters it’s a tax cut only for fat cats.
Perhaps the most important component of the Republican tax cut is the drop in the corporate rate from 35 percent to 20 percent because it’s the part that benefits the economy overall – lifting all boats, stimulating investment, creating new jobs and even new taxpayers. The two biggest tax cuts in recent American history demonstrated this – in the 1960s by John F. Kennedy and the 1980s by Ronald Reagan. Both resulted in huge economic booms. The corporate reaction to the passage of the tax cut demonstrates its significance. Companies have begun planning to bring plants and jobs home to America from overseas. Others have begun giving bonuses to their employees anticipating growth in revenues. Others are planning expansions of businesses that had been long delayed.
2) Some believe government doesn’t have enough money.
Whenever tax cuts are discussed in America, Democrats and the media analyze what a loss in government receipts will mean in terms of spending. They apply a “zero-sum” formula to the task, meaning, for example, if corporations pay a smaller percent of their profits in taxes, the government will get fewer dollars. But this is not how economics works. In fact, as a result of the two biggest tax cuts in modern American history, government tax revenues rose dramatically. Why? Think of the economy as a pie. A large economy results in a bigger pie than a small economy, so that a piece representing 20 percent of a large pie could easily be bigger than 35 percent of a small pie. Likewise, a bigger pie can offer more slices than a small pie. But, more to the point, government should base spending on what is available and what is appropriate and constitutional, rather than how much money comes into its coffers. In addition, even with current corporate tax rates at 35 percent, the government is deficit spending – borrowing about 20 percent of the money it spends every year and racking up nearly $20 trillion in debt. In other words, it’s not that government doesn’t have enough money; it’s that it spends too much.
3) Others think tax cuts will result in major cuts in critical government services.
Every year we read about ineffective, wasteful, unconstitutional, fraudulent spending by irresponsible and unaccountable government institutions. We also hear horror stories about potential or threatened cuts in services that scare people, usually things like Social Security, welfare and food-stamp payments Americans have become dependent upon. But a growing economy serves to allow people to escape dependency by getting higher-paid jobs and becoming wealthier themselves.
4) Others believe only low-income Americans will benefit.
This has been historically true, in one sense, but untrue in another. While low-income Americans may get more benefits in the form of hand-outs, do they really “benefit” in the long term? What is the impact of inculcating that kind of dependency? Nearly half of Americans pay no taxes at all, while 10 percent of the public pays more than half. Is that fair? Isn’t that punishing achievement and hard work? Is that good policy?
5) Some don’t believe it will stimulate the economy and create more jobs.
It’s already happening, as noted above. Companies are already spending money more freely simply based on a tax cut that has not even taken effect or showed any real financial results for them. That’s because they understand economics and too many average Americans simply don’t.
6) Some don’t believe these tax cuts will benefit the middle class.
Not only will the middle-class taxpayers have more disposable income to spend, but more people will join the middle class from the lower economic class. It happens every time it’s tried.
7) Some don’t believe it will benefit them.
It’s hard to imagine anyone who won’t benefit, directly or indirectly, from a tax cut that keeps a higher percentage of money in the private sector than in the unproductive public sector in which money is only redistribute by bureaucrats in Washington.
8) Others simply want government to take care of them.
This is an unfortunate side effect of Big Government that sees no legal limits as to the kinds of activities it can and should undertake. That’s why under the Constitution of the United States, government is supposed to be strictly limited as to its role and responsibilities, leaving any activities not specifically enumerated to the states. With government assuming more responsibility than is appropriate under the Constitution, states lose their power and individuals lose their liberty.
It comes down to this: Do you think politicians know better how to spend your money than you?
Thank President Trump for all his accomplishments during his first year in office. Send him a FREE card of your choice. Go to ThankTrump.us
If not, you should always be in favor keeping as much of your money as possible. And, in this tax cut, most everyone if not all will find themselves with more of their own money to spend or to give to charity.
One more thing: We hear a lot about “fairness” whenever tax policy is discussed. The discussion is usually based on the precept that those with more money should pay a higher percentage than those with less.
But that’s not “fairness” at all. In fact, it is the opposite of fairness. No one quibbles with the idea that the rich should pay more in actual dollars and cents. And, under a system in which everyone pays a flat percentage of their income, they do.
The so-called “progressive” or graduated tax system is inherently unfair, resulting in the disproportionate punishment of those who work hard and earn more.
http://www.wnd.com/2017/12/8-reasons-most-americans-dont-like-tax-cuts/
My comments: It may well be that Public Education has Brainwashed the population over the last few Decades to believe the LEFT's LIE, that Socialism is in their best interest. This is what the LEFT has Pushed relentlessly, in the guise of FAIRNESS. Socialism always leads to POVERTY. Today, Venezuela is making this perfectly clear.
No comments:
Post a Comment