Saturday, April 29, 2017

Why Trump's tax cuts will CUT deficit

Why Trump's tax cuts will CUT defecit \The insane left will cry "tax cuts for the rich". If they cared about improving life for everyone, they would get on board. But they do not care at all about economic growth. Remember worst EVER record pathetic economic growth wasunder Obama, (never once hit 3% and they still idolize that awful president.) Trump has laid out fantastic tax cut proposal. JFK endorsed tax cuts to raise revenue. Reagan proved it works.…/the_successful_clinton_eco…
Reasonable people of all political persuasions will acknowledge that tax cuts worked for Democratic President John Kennedy and Republican President Ronald Reagan. Presidents Kennedy and Reagan oversaw significant reductions of confiscatory tax rates on high earners and taxpayers generally. In both cases, records show that Treasury revenues increased with the rate of investment of the freed assets.

Often overlooked in the debate over tax policy is the success of the Clinton-era tax reductions -- reductions that, though fairly recent, are unknown to most Americans. That may be no accident.
The Clinton years provide lessons on the effects of tax increases and decreases. The American left attributes the successful economy of the Clinton years to the former and ignores the impact of the latter in order to justify their appetite for the increases they would have us believe will provide additional tax revenues today.
The effects of increasing taxes on Treasury receipts can be seen in the Clinton and Democrat-controlled congressional tax increase of 1993, one of the largest in history. Despite a more robust job market following a recession, the 1993 tax increase didn't accomplish what Democrats expected. The tax increases added very little to treasury receipts despite their magnitude. Reports from the Congressional Budget Office, the Office of Management and Budget, and the Internal Revenue Service all agree.
In fact, the balanced budgets of the Clinton years didn't occur until after a Republican Congress passed and the president reluctantly signed a 1997 tax bill that lowered the capital gains rate from 28% to 20%, added a child tax credit, and established higher limits on tax exclusion for IRAs and estates. "
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