Tag: Tax Reform

A funny thing happened to America’s libertarian movement – it expected a champion to emerge in the 2016 election; it may or may not have one in Donald Trump. Richard Epstein, the Hoover Institution’s Peter and Kirsten Bedford Senior Fellow and the voice behind “The Libertarian” podcast, grades the Trump presidency from a libertarian vantage.

Bill conducts a new exclusive interview with Steve Wynn, Chairman and CEO of Wynn Resorts and Finance Chair of the RNC. Wynn announces that all of his employees will get an increase in their take-home pay because of tax reform. Then, Bill talks with House Judiciary Chairman Bob Goodlatte about his important legislation to fix DACA, build the wall and restore border security. Finally, Brian Kennedy of the American Strategy Group joins Bill to talk about Russia’s secret assistance to North Korea and how Pres. Trump boldly confronted them about it. He also reviews Pres. Trump’s first year in office and explains how to defend the president’s record.

Contributor Post Created with Sketch. Greedy Capitalist Pigs Celebrate Massive Tax Break … by Giving Employees More Money

 

As soon as the House and Senate had passed the big tax reform bill Wednesday, AT&T made a big announcement. The telecom leviathan said it would give more than 200,000 US employees a special bonus of $1,000. AT&T also increased its US capital expenditures budget by $1 billion.

“This tax reform will drive economic growth and create good-paying jobs,” CEO Randall Stephenson said. “In fact, we will increase our US investment and pay a special bonus to our US employees.”

An hour later, Fifth Third Bank announced that nearly 3,000 workers will see their pay rise to $15 an hour. The company also said they will hand out $1,000 one-time bonuses to their workforce.

Bill interviews Mike Lindell, founder and CEO of MyPillow, about his incredible journey from drug addiction to sobriety and the creation of one of the world’s most successful pillow companies. Then Bill talks with Joel Farkas of the American Strategy Group about California’s terrible housing crisis. Finally, Bill continues his exclusive conversation with Steve Wynn. Steve explains how we should use our immigration system to improve the quality of the country and institute respect for the rule of law.

Jim Geraghty of National Review and Greg Corombos of Radio America cheer House and Senate passage of tax cuts and tax reform, noting the vast majority of Americans will see bigger paychecks while the Obamacare individual mandate gets repealed and energy exploration in the Arctic National Wildlife Refuge is given the green light. They also recoil at reports that Senate Republican leaders may have agreed to Obamacare bailouts and taxpayer-funded abortions in exchange for Sen. Susan Collins voting for the tax bill. And they discuss Rosie O’Donnell offering two million dollars apiece for Collins and Sen. Jeff Flake to vote against the tax legislation.

Jim Geraghty of National Review and Greg Corombos of Radio America applaud President Trump for making good on his efforts to eliminate and postpone costly and burdensome federal regulations. They also tense up as five different Senate GOP votes could be in jeopardy as vote nears on tax reform. They shake their heads as liberals lose their minds and predict an internet wasteland after the Federal Communications Commission votes to return internet regulations to where they were two years ago. And Jim offers a spoiler-free look at the new Star Wars movie.

Jim Geraghty of National Review and Greg Corombos of Radio America are cautiously optimistic that Republicans may soon pass a tax cut and while the proposal is not perfect, it moves in the right direction on a number of fronts. They also react to Disney becoming an even more mammoth presence in entertainment with the news it is paying over $52 billion to buy most assets of Fox. And they discuss the latest hit to the credibility of the Russia investigation, as a recently fired Mueller deputy referred to pursuing an “insurance policy” just in case Trump won the election.

In a special bonus episode of Banter, AEI’s director of the Open Source Policy Center (OSPC), Matt Jensen, joined the show to discuss the ongoing tax reform debate and how the center’s models help make tax policy analysis more transparent. In addition to his work for OSPC, Jensen is a lecturer and founding member of the advisory board for the Open Source Macroeconomics Laboratory at the University of Chicago’s Becker Friedman Institute. He has written for RealClearMarkets, Tax Notes, The Wall Street Journal, and US News & World Report, among other publications.

Later this week, don’t miss Banter’s fifth installment of the “Bridging the Dignity Divide” series with AEI Visiting Scholar Mark Schneider on what’s wrong with our nation’s emphasis on the role of bachelor’s degrees for economic success.

Romina Boccia, deputy director of the Thomas A. Roe Institute for Economic Policy Studies, joins us on Mass Ave to discuss the latest on tax reform and federal spending. Jim Phillips, Senior Research Fellow for Middle Eastern Affairs, breaks down the President’s announcement on Jerusalem and why it’s long overdue.

Contributor Post Created with Sketch. 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:

Contributor Post Created with Sketch. 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.”

Jim Geraghty of National Review and Greg Corombos of Radio America welcome the decision of ABC News to punish Brian Ross over his sloppy, false, and damaging report about when President Trump urged Mike Flynn to make contact with Russia – just the latest in a long history of shameful reporting by Ross. They also erupt as Republican Texas Rep. Blake Farenthold reportedly used $84,000 of taxpayer money to settle a sexual harassment complaint made by his former staffer. And they chronicle the liberal hysteria following the Senate vote on tax reform – including assertions that the vote killed America, that it will kill millions of people, and that it is akin to raping poor people.

Contributor Post Created with Sketch. Member Post

 

The Republican controlled Congress, after 7 years of show votes, campaign proclamations, and pinky swears has delivered only the easiest one of the major Republican base issues. The Senate confirmed Justice Gorsuch, merely keeping the status quo, not even yet taking the tough vote of replacing a leftist on the Supreme Court. No repeal of […]

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Bill shares his thoughts on the latest sexual assault revelations regarding Matt Lauer and Garrison Keillor. He also weighs in on the chances the GOP can get tax reform passed. Then Bill interviews Gordon Chang about North Korea’s new and most dangerous missile test to date. Next, Bill talks with Seth Leibsohn about his candidacy for Congress in Arizona. After, Bill discusses “fake news” and the state of journalism today with Martha MacCallum. Finally, Steve Wynn explains why Pres. Trump’s speech in South Korea was so important and why he thinks Kim Jong-un’s belligerent actions will ultimately lead to the downfall of his regime.

Jim Geraghty of National Review and Greg Corombos of Radio America are very cautiously optimistic about tax reform getting done after the Senate Budget Committee approved the Senate bill and several of the likely holdouts now seem ready to pass it. They’re also concerned following the latest North Korean missile test, which seems to indicate the communist regime could hit the U.S. mainland with a nuclear-armed ICBM. And they react to NBC firing longtime “Today” host Matt Lauer over sexually inappropriate actions.

On this AEI Events Podcast, AEI hosts House Committee on Ways and Means Chairman Kevin Brady (R-TX) for remarks and discussion on the prospects for, opportunities of, and challenges posed by fundamental tax reform. America’s tax code has not seen a major overhaul in more than 30 years, and a Republican tax reform plan is center stage.

AEI’s Alex Brill moderates a conversation with Chairman Brady, sponsor of the Tax Cuts and Jobs Act, on the prospects for, opportunities of, and challenges posed by fundamental tax reform.

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.

Contributor Post Created with Sketch. 3% or Bust: Fanciful Forecasts and the GOP Tax Plan

 

It keeps happening. The latest member of Team Trump to offer overly optimistic takes on the GOP tax plan is Ivanka Trump. Here she is on “Fox & Friends” this morning:

Tax reform is a critical component of our plan to invigorate the economy…. This deregulation philosophy coupled with tax reform is going to have an enormous impact that we think conservatively will lead to sustained GDP growth of three percent, but more aggressively four and five percent.

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For many residents of Pennsylvania, and anyone interested in tax policies and how public schools are run, the result of a November 7th referendum vote on a PA Constitutional Amendment Question resulted in what I believe is good news. Pennsylvania is joining other states in trying to get a handle on escalating property taxes, with […]

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This week on Banter, Andrew Biggs joined the show to assess the House Republicans’ recently released Tax Cuts and Jobs Act plan and to debunk the myth of the “retirement crisis.” He also discussed his work on the The Financial Oversight and Management Board for Puerto Rico to develop the island’s economy. In addition to his role on the board, Biggs is a resident scholar at AEI whose work focuses on Social Security reform, state and local government pensions, and public-sector pay and benefits. He participated in a seminar at AEI that analyzed the economic prospects of Puerto Rico post-Hurricane Maria. The link below will take you to the full event video.

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