Friday, December 8, 2017
IF YOU ASK ME
Here are three things I very strongly believe –
(1) The Internal Revenue Code has become a true convoluted mucking fess. It must be rewritten – made simpler and fairer.
(2) The function of the Tax Code must be limited to raising the money needed to run the country, and should not be used for social engineering, redistributing wealth, or distributing government welfare and other social benefit programs.
(3) The Democratic Party concept that the answer to all our problems is to “tax the rich” merely because they can afford it is pure nonsense and a concept that should be aggressively opposed and denounced.
That being said, I also believe (and I know that I have said this here before) that the current GOP tax proposals –
(1) Are not at wonderful as the Republicans claim.
(2) Are not as horrible as the Democrats insist.
(3) Are not a massive tax cut for the middle class.
(4) Most certainly do hugely benefit Donald T Rump and family.
The two competing bills, like most legislation written by Congress, has some good, some bad, and some ugly.
I support both individual and business tax rate cuts – but I believe that individual cuts should be paid for by doing away with deductions, credits and loopholes that apply to individual taxpayers. And business cuts should be paid for by doing away with deductions, credits and loopholes that apply to business taxpayers. Business tax cuts should not be paid for by taking deductions and credits away from 1040 filers.
Neither of the GOP bills are anywhere near what I would have written (you can read how I would rewrite the US Tax Code in THE TAX CODE MUST BE DESTROYED!). But I doubt very much the cafones in Washington are going to listen to what I have to say, or to any intelligent discussion of tax reform – they have already made up their minds.
I expect a tax bill will be passed and signed into law by the idiot in the White House – so I will gratefully take what little good they do give me and deal with the rest.