Washington War Escalates: Special Interest Groups, Unions and Media Fight Tax Reduction/Tax Reform

Craig HueyTax Reform1 Comment

The new tax reform plan, proposed by President Trump, is geared to put money in you and your family’s pockets.

But a full-on war has broken out.

Special interest groups, labor unions and the biased media have come out full force against any tax reform.

In fact, a coalition of liberal groups and unions are spending thousands of dollars on TV ads blasting Trump’s “economic stimulus” tax plan as a giveaway to the rich.

A liberal’s idea of economic growth is seen in terms of how big the government can get.

Their idea of making money is to tax – and spend – something that creates low wages, slows a non-existent economic growth and kills job creation.

Plus, political progressives like Bernie Sanders, Elizabeth Warren and Obama before them, love to divide America by wealth.

They gloss over the fact “the rich” pay their fair share of taxes AND MORE.

Using 2014 statistics, those making over $250,000 paid over half (55%) of all individual income taxes collected, even though they accounted for only 2.7% of all returns filed.

Taxpayers in the $100,000 to $200,000 range tend to have an effective tax rate at the national average of 13 percent. Meanwhile, taxpayers earning more than $250,000 have an effective tax rate more than twice the national average, or 26 percent.

To the Left, “the rich” is a one-size-fits-all label for “evil people” who don’t deserve the wealth they’ve created.

That argument is pure socialism, which is their ultimate goal for America.

To listen to the Left, “the rich” get no credit for keeping the economy growing, creating jobs or bankrolling innovations and making technological advances.

But that’s just one side of the argument.

The big picture is this: Trump’s tax reform plan is designed to benefit everyone by putting more money in your pocket.

By sowing misinformation and half-truths, the special interests and press could kill the economy turnaround that has just begun.

Washington lobbyists and special interest groups want to protect beneficial tax breaks.

Don’t be fooled by the media distortions and Facebook lies …

… President Trump’s tax reform plan will be a boon to you and your family.

After 8 years of painful stagnant economic growth in America, tax reform is critical to turning the economy around.

Not only will cutting taxes help energize the economy, increase wages and grow more jobs, but in the case of working middle-class Americans it will:

  • Put more money in your pocket by doubling the standard deduction to $12,700 for individuals and $25,400 for joint filers.
  • Protect your tax benefit for home mortgage interest.
  • Enhanced child tax credit will help with the cost of raising children.
  • Maintaining higher education tax benefits helps families save for and better afford tuition and education expenses.
  • A better way to care for your parents. A new tax credit for caring for elderly relatives is being proposed.
  • Nine out of 10 Americans will be able to file on a form as simple as a postcard.
  • Give you a simpler, fairer tax code by lowering individual tax rates from 7 brackets to 3, paying 35%, 25% and 12%.
  • Help you find a better job through innovation and job creation. The tax relief also allows companies to save more money which they can create more opportunities for America’s work force.
  • The terrible, job killing alternative minimum tax and the unfair death tax will be repealed.

So, don’t believe the social and mainstream media’s liberal-driven agenda denouncing Trump’s tax reform plan.

It is fiction.

Once more the progressive pro-socialistic politicians and media are portraying tax cuts as only benefiting the rich.

Tax reforms will benefit everyone, particularly small businesses.

These companies, which often pay the top individual rate of 39.6%, will benefit from a significantly lower 25% tax rate. This is the No. 1 job creator, and it will be the No. 1 job creator part of reform.

The greatest job creators in the world are the small business owners, of which I am one.

We are trying to run successful businesses and provide for our families, but are being held back by an outdated, complicated tax code.

Today’s tax code is unbelievably burdensome and makes life harder on American businesses, workers and their families.

We must simplify Tax Day to one postcard anyone can fill out without software or a CPA.

Fixing this will strengthen our local economies.

Did you know that at the end of the day, more businesses close than open?

A reformed tax code would encourage entrepreneurship and startups, innovations and technological advances.

Bottom line for your bottom line: Simplifying the tax code is the best way to increase the economy.

HOW MAJOR TAX REFORM IS CRITICAL TO YOU AND YOUR FAMILY

Major tax reform is critical to fueling our country’s economy.

As a business owner who has helped create thousands of new jobs and create new careers and business, I can tell you, taxes are killing us right now.

If the politicians and special interests would get out of the way …

  • Taxes, both business and individual, will be drastically cut. That means more money in your family’s pocket.
  • Taxes will be structured to reward, not punish, companies to bring offshore monies back to America.
  • Tax cuts will create new start-ups and create innovative technology.

Taxes make or break a country’s economy.

So, tax reform unleashes America’s economic potential.

Now Congress must move quickly on tax reform to spark economic growth.

President Trump’s tax reform, over the next 10 years, will create:

  • 12 million new jobs
  • $10 trillion in additional economic activity
  • $3 trillion in budgetary savings

Under existing policies, the Congressional Budget Office (CBO) projects economic growth at a paltry 2% over the next 10 years.

But we could see 4% to 6% growth with major tax reform.

A CBO study concluded that more than 70 percent of the corporate tax burden is put on American workers.

But tax cuts can drive the economy in a positive direction:

  • President Reagan’s 1986 corporate income tax cut contributed 3.3% to economic growth over 10 years.
  • President Kennedy’s 1962 and 1964 tax cuts added 6.2% to economic growth over 10 years.

It’s time to change the tax code. It’s time to stop punishing family businesses and middle-class Americans.

A thriving economy, after all, benefits everyone.

What do you think? Write me at [email protected]

One Comment on “Washington War Escalates: Special Interest Groups, Unions and Media Fight Tax Reduction/Tax Reform”

  1. Love it! Thank you for giving us the real scoop and not the hateful rhetoric the liberal media spews daily!

Leave a Reply