Tag: GOP

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The recent announcement of retirement by Speaker Paul Ryan of the U.S. House of Representatives has been pontificated on by many to be the result of President Trump’s success in changing the Republican Party. This, however, is not true. President Trump has probably succeeded in changing some, not all, of the public’s perception of the […]

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Before they shut down the government over the Dreamers, the Democrats may want to check out this cool, new thing all the kids are into: Math.

To win the White House, Oprah would have to win primaries in states like NH—one Granite State insiders predicts Oprah’s fate.

Pitfalls, Stupidity, and Danger – Kurt Schlichter on 2018

 

Kurt SchlichterAs we conclude a year where the news never stopped breaking, we are happy to welcome back Kurt Schlichter, one of the most prolific writers today. As a columnist at Townhall.com his articles are a must read, as well as his fast-paced books which can be found on Amazon.com. Kurt is the author of the novels Conservative InsurgencyIndian Country and People’s Republic.

It’s the DIY “How to Survive The Coming Tax-Cut Apocalypse” edition of the podcast, with special guests Nancy Pelosi and Elizabeth Warren. This is Armageddon, folks!

Media liberals have discovered that while they were whining, Donald Trump was winning

A Summary of the GOP Tax Reform Bill

 

On Friday, Republicans released the final version of their tax bill. It combines parts of both the House and Senate versions. Here are the details.

On the individual side:

  • We’re back up to seven tax brackets again, but the rates on each change slightly. They are 10%, 12%, 22%, 24%, 32%, 35%, and 37%. (The current ones are 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%, respectively.)
  • It eliminates the individual health insurance mandate which, as we all know, is actually a tax.
  • The much-discussed state and local tax deduction remains, but the deduction is capped at $10,000.
  • The cap on the mortgage interest deduction is lowered from $1 million to $750,000.
  • The AMT remains, but the income exemption is raised to $70,300 for singles and $109,400 for married couples.
  • The estate tax remains, but the exception is raised so only 0.2 percent of estates will get it.
  • The standard deduction is almost doubled. From $6,350 to $12,000 for single filers and from $12,700 to $24,000 for joint filers. This probably means fewer people will itemize their deductions.
  • The personal exemption is eliminated. You can currently claim a $4,050 personal exemption for yourself, your spouse, and your dependents. That is gone now.
  • The child tax credit is double to $2,000 and is now available to higher earners, up to $200,000 for single parents and $400,000 for married couples.
  • There is a temporary tax credit for non-child dependents. People can take a $500 credit for non-dependent children, ailing elderly adults, or adult children with disabilities.
  • There are other smaller tax breaks that were gone in earlier versions of the bill but are restored for the final version. For example, allowing teachers to deduct supplies they buy with their own money.
  • There is a change to the inflation adjustment to the tax code. The new measure is slower than the current measure, so the net effect of deductions and credits will be worth slightly less.

On the corporate side:

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By not standing up to the Dems and their attack on Roy Moore, Republicans have lived up to M. Stanton Evans’ famous saying. Rather than point out that Moore, even if all the accusations against him are true, is still a less reprehensible person than the partial-birth abortion supporting Doug Jones, Republicans scattered to the […]

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GOP Shouldn’t Expect Tax Cuts to Pay for Themselves

 

There are various economic models used to estimate how changes in tax policy will affect economic growth and budget deficits. They contain lots of variables and lots of assumptions. (Of course, don’t mistake the map for the territory and all that.)

But it’s pretty tough to find a legit model that suggests tax cuts pay for themselves. That usually doesn’t happen. The Reagan tax cuts didn’t pay for themselves. The Bush tax cuts didn’t pay for themselves. And the Trump tax cuts almost surely won’t pay for themselves. In other words, they are overall revenue reducing even if they boost economic growth somewhat. Doesn’t necessarily mean tax cuts are bad, just that they need to be judged in the broader fiscal context. The Reagan tax cuts, for instance, took place when the debt-GDP ratio was 25%. Now it’s three times that.

We can argue, of course, over the best way to model the impact of a tax cut. But this, from a column by economist Thomas Sowell, is about the worst way of judging a tax cut:

How Will We Know If the GOP’s Supply-Side Experiment Works?

 

It looks almost certain the GOP tax bill will pass Congress, to be then signed by President Trump. So here’s a question or two or three: How will we judge whether it worked? What are the expectations? What will be the standards?

Now, generally, Republican politicians and pundits have been more optimistic than most mainstream economists about the growth impact. For instance, the IGM Forum Economic Experts Panel found that only one out of 42 economists surveyed agreed with this statement: “If the US enacts a tax bill similar to those currently moving through the House and Senate — and assuming no other changes in tax or spending policy — US GDP will be substantially higher a decade from now than under the status quo.”

It’s the “MAGA Monday” edition of the podcast with special guest Monica Crowley.

T. Becket Adams on the media’s monstrous weekend meltdown.

Every weekend, I pick two of my favorite interviews from the week to give listeners something to tune into as they do their chores, head out into holiday shopping traffic, etc. I hope you enjoy it!

This week:

Bill interviews RNC Chairwoman Ronna McDaniel about the GOP’s once-in-a-lifetime chance to get major tax reform passed. Next, Steve Moore breaks down the nitty-gritty details of the House and Senate tax reform plans and how they can come to an agreement. Afterward, Bill shares his thoughts on tax reform and the latest developments regarding Roy Moore. Then, Bill welcomes Brian Kennedy of the American Strategy Group back to the show to dissect and analyze Pres. Trump’s visit to Asia and explain how the U.S. should approach its relationship with China and its handling of North Korea.

For James and Other Homeless Conservatives

 

I just finished listening to the most recent Ricochet podcast, which was enjoyable as always, though I was cringing through the part where Peter Robinson explained how advocates for truth and integrity are not “useful,” while political power is. (That’s been a popular position throughout history, Peter, but there are some drawbacks.) That section was not what moved me to post, however.

I was moved by the final segment, where James Lileks meditates on how people with serious objections to Donald Trump should comport ourselves in this new era of politics. Republican politics continues descending into the realm of the crude and vicious. I was joking with a friend yesterday that the GOP could nominate a serial killer for office, and the first thing we’d hear would be, “Hey, he’s only killed 11 people. Do you know how many die at Planned Parenthood every day?”

Like James and many others, I’ve had some difficulty figuring out where to land through all of this. It’s healthy for me to hear from a guy like Erick Erickson because it reminds me that my own recent travails are basically a gnat-level annoyance compared to what some people suffer. I’ve only ever received death threats online, and none ever seemed serious enough to keep me up at night. No armed guards, no kids being tormented at school, no near-death experiences. Life is good!

It’s Tax Reform Time!

 

Yesterday, congressional Republicans unveiled the Tax Cuts and Jobs Act. The $1.51 trillion plan is intended to be the first major rewrite of the tax code in three decades. Republicans hope to get this to the President before Christmas.

House Ways and Means chair Kevin Brady thinks it should pass the House by Thanksgiving and it’s been designed to pass the Senate using the reconciliation process, which only requires 51 votes. And we’ve been assured that it has the “full support” of the President. (You know, until he publicly undercuts them.)

But enough throat clearing, let’s get to the details!

PoMoCon One: The GOP as Budding Oligarchy

 

Hello, folks, just in case you’re not fed up with hearing my political opinions, there’s a new venue for that! I’m bringing back the old PoMoCon brand, a term the late Peter Lawler so skillfully and humorously used to describe the properly Tocquevillian American conservative of the 21st century.

My friend Pete Spiliakos, another old PoMoCon hand, also a columnist over at First Things online and writer at NRO, is my first interlocutor. We talk about elite corruption in the GOP. Some thoughts you’ll encounter in our discussion:

Did Clinton Cash Crash The 2016 Election? —It’s A Headline the Mainstream Media HATE.

Why Jeff Flake Is No “Hero.”

PTO Displays Trump Tombstone for Elementary School Fundraiser

 

A Gloucester, MA parent teacher organization held a fundraiser at their elementary school — and one of the members decided to make an ugly political statement. An unnamed parent at West Parish Elementary School brought a Halloween-themed bean bag game decorated with tombstones. The one in the center bore the name Don Trump.

One annoyed parent took a photo of the display and sent it to Massachusetts Republican Party committeewoman Amanda Orlando Kesterson, who shared it on Facebook.

I was sent this photo which depicts decorations from last night’s Halloween party at West Parish Elementary School. As you can see, the middle tombstone has the name of the president on it.

So what’s the deal with DACA? We’ve got all the details, including a take from the Left on why dumping DACA is the right move.

Holy Crap, have you seen the size of that thing? Weather guru extraordinaire Big Joe Bastardi has a quick update on Irma.

Jim Geraghty of National Review and Greg Corombos of Radio America condemn Republican Senators John McCain, Susan Collins, and Lisa Murkowski for failing to deliver on their campaign promises to repeal and replace Obamacare during a vote late Thursday night, while also stressing the mistakes made by GOP leaders and the major flaws in the “skinny repeal”. Jim mocks new White House Communications Director Anthony Scaramucci for threats and vulgar comments about his colleagues, underscoring already fractious conditions in the new administration. In an attempt to end the week on a good note, Jim and Greg discuss a new poll showing that more fans stopped watching the NFL last season because of the national anthem protests than for any other reason.