Tag: taxes

Jim Geraghty of National Review and Greg Corombos of Radio America welcome a new poll showing nearly half of Americans hold a positive view of the Republican tax bill and are bullish on the economy, although they are not ready to give Trump and the GOP credit. They also wince as Democrats win a usually safe Republican seat in the Wisconsin State Senate, and Gov. Scott Walker urges GOP members and activists to make sure people know about their significant accomplishments. And they sigh as President Trump’s doctor gives the commander-in-chief a clean bill of health, but White House reporters still ask the physician a litany of repetitive questions about Trump’s mental health and whether he he is fit to serve under the conditions of the 25th Amendment.

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

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I admit I have not been able to dig into the real nitty-gritty details of the massive tax overhaul that just passed the House, but since Nancy Pelosi has declared it to be “the worst bill to ever come to the floor of the House” I am guessing I will probably like it. Preview Open

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A hypothetical with a question. Let’s say the tax jigger that’s going on passes and it works…and I mean it really works, like even better than Larry Kudlow could imagine. The economy takes off and tax receipts (government has no revenue!) expand so that the tax cuts not only pay for themselves but increase the […]

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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:

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I’ve convinced a liberal friend of mine to meet next week to talk about my view of economics. This comes after he ended a Facebook post on the Senate tax legislation with the rhetorical question “Why would you vote for someone who votes for Supply-Side bull…?”   Preview Open

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“It is important to remember that government interference always means either violent action or the threat of such action. The funds that a government spends for whatever purposes are levied by taxation. And taxes are paid because the tax payers are afraid of offering resistance to the tax gatherers. They know that any disobedience or […]

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Jim Geraghty of National Review and Greg Corombos of Radio America blast congressional Republicans over their embrace of scrapping the adoption tax credit and for considering an end to the property tax deduction. They also slam the TSA for failing miserably yet again in the latest test designed to see if our blue-shirted friends can actually stop guns, knives and bombs from getting through checkpoints. And they get a kick out of USA Today suggesting you could add a chainsaw bayonet to an AR-15 rifle.

Richard Epstein reacts to the tax plan released by congressional Republicans and explains what steps are most essential for jumpstarting economic growth.

Contributor Post Created with Sketch. Are Supply-Siders Losing Their Grip on the Trump GOP?

 

Trump adviser Steve Bannon is supposedly pushing for higher taxes on the rich to pay for middle/working-class tax cuts. As Axios reporter Jonathan Swan reports: “Bannon has told colleagues he wants the top income tax bracket to ‘have a 4 in front of it.’”

Even if the Trump White House proposed raising the top rate just a smidgen to 40% from the current 39.6%, it would be a pretty big deal in a modern GOP built around the “supply-side,” tax-cutting doctrine. (And remember, what’s really key for supply-siders is lowering that top marginal tax rate.) Many conservative Republicans, such as Paul Ryan, deeply believe lower rates are the maximum driver for faster economic growth. The Bannon plan would also be directly opposite from the most recent iteration of the Trump tax plan, which proposes 35% top rate.

Contributor Post Created with Sketch. Why Can’t the US Use Its Assets Like the UK?

 

If you’re like many Ricochet folks, you get “The Daily Shot” in your inbox every day. (No, I’m not going to scold you if you don’t.)

Wednesday morning’s edition caught my eye because of some talk about Queen Elizabeth II getting a pay raise. As Americans, we’ve occasionally made comparisons between the Royal Family’s expenditures versus our own First Family. This was a relative sport for some, until earlier this year.

Richard Epstein explains what’s good, what’s bad, and what’s missing in the recent tax reform proposals issued by the Trump Administration.

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We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. Winston Churchill Preview Open

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Contributor Post Created with Sketch. Who Needs Progress Anyway? Not the “Degrowth” Movement

 

Andy Kessler dislikes Bill Gates’s “robot tax” idea about as much as I do and explainS his reasons in the Wall Street Journal. Among them, Kessler doesn’t like how such ideas — particular Gates’s notion that we may want to slow progress so workers can better adjust — feeds into the “degrowth” movement. Yes, “degrowth” is kind of a thing. Kessler:

There is a murmuring movement out of Europe known as “degrowth.” If this sounds to you like a cabal of cave dwellers, you’re not that far off. Degrowth Week in Budapest last summer featured enchanting sessions like this one: “Popular competence building against the Technocracy.” Channeling Ludd, industrial insurgents and sustainability samurais want to keep things the way they are, like the eco-protesters at Standing Rock. The site degrowth.org is clear about the movement’s unproductive goals: Consume less and share more.

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Border Adjustment Tax (BAT) is not a tariff, it is much more complex than a simple tariff. “Border-adjustment would change how those profits are calculated. Accountants could no longer deduct imports—say, goods brought in from China—as costs. And their exports would no longer count as revenues. For tax purposes, “profits” would be domestic sales minus […]

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It’s that time of the year again, folks: tax season. That’s why this week on Oppcast, we reached out to Grover Norquist, president and founder of Americans for Tax Reform, to come onto the show for an episode jam-packed with everything tax-related.

From tax reform in the age of Trump, to the recent COB report on the American Health Care Act, we break down the numbers to get to the meat of the issues. Spoiler alert: get ready for some wonky nerd talk!

Jim Geraghty of Radio America and Greg Corombos of Radio America discuss MSNBC’s Rachel Maddow turning a supposedly big scoop on Pres. Trump’s tax history into a dud of a story. They also discuss why some in the media are determined to make Chelsea Clinton into some sort of political power player. And they shake their heads as former Maryland Gov. Martin O’Malley starts testing the waters for a presidential run in 2020.

Contributor Post Created with Sketch. The GOP Tax Plan Is in Trouble. Many People Are Saying This.

 

As conservative political reporter Robert Novak once declared, “God put the Republican Party on earth to cut taxes. If they don’t do that, they have no useful function.” Now imagine a new Republican president and Republican Congress — both of whom ran on cutting taxes — not being able to pass a tax cut. It might seem unimaginable. If so, stretch your imagination. Border adjustment is a key element of the GOP tax reform plan. It serves several purposes: raises a trillion bucks, makes it harder for companies to escape US taxes by shifting operations overseas, and gives a protectionist president a perceived win on trade that may help avoid harsher trade measures.

But border adjustment is in deep trouble. Which means tax reform may also be in trouble. Imagine that.

Victor Davis Hanson examines the early initiatives coming out of the Trump Administration and reflects on whether the new president’s momentum is sustainable over the long run.