The scandal in the ProPublica tax disclosure story is ProPublica’s illegal disclosure of personal tax information, not the wealthy’s legal compliance with the tax code as designed by Congress.
So what the Biden administration is proposing is a gargantuan expansion of federal spending and borrowing, which will explode the deficit, further bloat the national debt, and run the risk of monetary inflation, all in order to achieve a rate of economic growth that is lower than that of the previous administration.
The Government Class may hate it, but tax competition is a feature, not a bug. What they call a “race to the bottom” is actually strategic pressure to hold governments in check. Attempts among state or national governments to coordinate tax policy should be seen for what it is—collusion to eliminate competition and unleash ever bigger government.
It was government policy that caused the inflation of the 1970s, and it’s government policy that is bringing inflation back today.
Kevin Brady can retire with the knowledge that he accomplished his number one policy goal: fundamental tax reform.
In FY2020, federal revenues were $3.42 trillion, but federal spending was $6.5 trillion. In other words, the federal government spent almost TWICE what it took in. That’s not sustainable.
The biggest problem with a federal minimum wage is that the cost of living varies widely from state-to-state, and between cities and rural areas.
Republicans are supposed to be the party that is always cutting taxes for the wealthy, but in promising to eliminate the cap on the deductibility of state and local taxes (SALT), this time it’s Democrats promising a tax cut for the rich.
Voters across America voted to protect their economic liberty, to reject tax increases, and to reject limits on worker flexibility and freedom.
Joe Biden's promises about future taxation are impossible to fulfill because they are contradictory.