Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By United for Missouri (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Tax Cut Déjà vu!

% of readers think this story is Fact. Add your two cents.


“for the rich”

“will destroy the economy and increase debt”

“people will lay dying in the streets”

“will drive the state into further economic despair”

Sound familiar? You’ve probably heard these things and much more said about the “Tax Cuts and Jobs Act” passed yesterday in Washington.

But the quotes I provided in the beginning were not (just) said about the most recent bill but about the Bush tax cuts in the early 2000’s. Almost everything we are hearing was being said about those minor tax cuts and being said by many of the same people and/or organizations.

They were wrong then, and they are wrong now!

As the Missouri House Budget Chairman at the time of the Bush tax cuts, we were faced with assessing the impact of the federal tax cuts just as those in state positions are doing now. Then as now, there was a lot of hand-wringing and “end of the world” scenarios being spouted regularly.

But I knew that with very, very few exceptions, tax cuts have had tremendous positive impacts. We know that revenues do increase after tax cuts, if not almost immediately within short order.

While the naysayers were using blunt axes and static models to come up with their dire predictions, we used scalpels looking at everything in detail and basing our projections on real-world data. The results were almost exactly what we had projected and nowhere near what the naysayers had predicted.

The same will be the case for the “Tax Cuts and Jobs Act”. The naysayers are quite simply wrong!

In the experience described above, I at least believed that most of the naysayers were sincere in their attempts to project misery. They were sincerely wrong but sincere none-the-less.

I can’t say that about the naysayers today. They are clearly and demonstrably projecting misery solely for political gain.

Was the bill the best it should have been? No, but it is a good start.

And while there is more that can and should be done, we cannot let better be the enemy of the good.

The bill addresses much needed tax relief for the middle class who are the predominate beneficiaries. It also addresses our non-competitive corporate tax rates making it probable that earnings currently kept overseas will be brought back home and invested here.

Many areas could have been better such as the individual tax cuts with no expiration date, elimination of many more deductions, and reduction in the growth in spending combined with the tax cut. America still has a spending problem that must be dealt with.

United for Missouri will continue working toward additional tax reforms that address the items that were left on the table as well as supporting much needed tax reform on the state level. In politics and in the hard business of governing passing meaningful legislation is more about the art of the possible.

As a former legislator, I have the utmost respect for my colleagues that are tasked with that great responsibility. As an organization we will continue to uphold the high standard of American conservatism and carry the tax relief and spending cuts fight forward with the help of our 80,000 members. There is no reason to wait another 30 years.

The time is now!



Source: https://www.unitedformissouri.org/newsroom/tax-cut-deja-vu


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.