Posts Tagged ‘tax cuts’

GOP/TRUMP ECONOMIC PLAN: REDUCE TAX RATES TO INCREASE TAX REVENUE

How can President Trump and the Republican House and Senate pay for large tax cuts and a trillion dollars in infrastructure improvements that they are advocating and still eliminate Budget Deficits and eventually the National Debt?  Few politicians explain this so I thought that a U. of Penn Wharton graduate (me), who should know this, would explain it.  Many are concerned that the large proposed infrastructure spending and proposed tax cuts will force the U.S. further into debt.  If you simply look at the economy as static, this would be true.  However, the economy is dynamic, not static.  Therefore, when you change some things, like reducing corporate taxes from the current 35% to President Trump’s 20%, as well as reducing taxes on the working and the middle classes, this stimulates businesses in many ways, bringing back U.S. business and investment money to America and stimulating new businesses and the growth of existing businesses.  In addition, Trump will repeal the individual mandate contained in Obamacare, which is the penalty that Obamacare imposes on those who chose not to be covered under it, estimated at $358 billion. Finally, there is about $3 trillion in U.S. corporate funds residing in other countries, that with a one-time repatriation tax rate of 10%, will return to the United States and be invested here.

All of this resulting economic activity will result in a huge increase in the Gross Domestic Product (GDP), which is a measure of the size of the U.S. economy.  The taxes from this huge growth in economic activity, though the tax rates are reduced, will result in tax revenues being vastly increased.  President Ronald Reagan did this in the 80’s, as well as reduce regulations, and GDP consequently almost doubled in size within 10 years from the time that Reagan’s tax rate cuts went into effect (1983).  President Kennedy also did this in the 60’s.

GDP growth is extremely important because, with 4% annual GDP growth, the United States can afford to do what needs to be done without having annual budget deficits, that at the end of each fiscal year, are added to the total national debt.

If some form of the Trump/GOP tax cuts become law, the United States economy (as measured by Gross Domestic Product, GDP) will more than double in 10 years.

 

 

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THE DEMOCRAT, LIBERAL, PROGRESSIVE LEFT

Although I’m mostly conservative, I always try to be even-handed in my writing, giving both sides of issues.  However, the Left has become so radical, and even criminal, that I thought one article that was not even-handed is in order and appropriate…just one.

1. Donald J. Trump was not a politician.  Over the years, he contributed millions to both Democrats and Republicans.  As President, he is not ideological but looks for policies and solutions that are practical.  Democrats, Mainstream Media, Hollywood, Universities hate him so much that it looks like those groups have become unhinged and even deranged.   Large sums of money are spent by George Soros and other Democrat Party supporters and benfactors to employ paid agitators to be on call to be violent and counterprotest any group or issue the’re told to protest.

2. The media has become so dishonest that absolutely nothing it says about President Trump can be believed.

3. Democrat Party leaders refuse to debate issues but instead make “ad hominen” (personal) attacks against Republicans.  The reason for this is that their policies are really stupid and cannot be successfully argued against informed conservatives.

4. Democrat policy positions on everything, from Healthcare to Tax  Cuts, are disengenuous and are geared soley to further the Democrat Party at the expense of the American public.

5. Far-left Democrats should commend President Obama because he really tried his very best to drasically weaken our military, economic system, and Healthcare in order to further his Socialist agenda and that of the Democrat Party.   He also allowed a large number of illegal alliens into the U.S. since most will vote Democrat, and he doubled the National debt (from $10 trillion to $20 trillion), coming close to bankrupting the country.

6. The Democrat Party and Barack Obama destroyed healthcare insurance for millions of Americans.

7. The far left shouts down conservative speakers on college campuses, thus demostrating it does not believe in the First Amedment to the U.S. Constitution on freedom of speech.

8. If the news media competently did its job and reported fairly on both sides of every issue despite its leftist views, much of the problems I mention above would go away.

9. Many Republican leaders are timid and cannot competently argue conservative policy positions though those positions are usually far better than liberal positions.  Were it not for Fox News, talk radio and President Trump, the Republican Party would be in terrible shape.  In other words, as stupid as most liberal postions are, the timidity of many Republican leaders really hurts conservative policy positions.

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