TaxBytes

Nancy Pelosi isn’t the only one who is out-of-touch and doesn’t understand economics.

Now that the Trump administration’s historic tax reform is actual law, there is every reason to expect continued good economic news and higher rates of economic growth.

President Trump has already done more to grow the U.S. economy than the last four presidents and 28 years combined.

So the corporate tax rate in the conference committee bill is 21 percent, not 20 percent. That’s okay, we’ll get over it!

If the corporate rate cut doesn’t take effect until 2019, businesses may choose to wait a year and defer income and production.

The economy used to frequently meet or exceed 4 percent GDP, before big tax, spend and regulate policies became the norm. Tax reform might take us back to the future.

It’s not fair to judge a tax reform plan that hasn’t been released yet, but our overall excitement is tempered by a number of concerns.

Compromise on principles is wrong, but compromise on details is necessary, if any good is to be obtained.

The assumption that the highest good for a business is to pay taxes is wrong and harmful to the economy.

Faster economic growth is on the table, if only Republicans can keep their eyes on the prize.