A Quote by Kayleigh McEnany
In the 1980s, Democrats enthusiastically helped President Reagan pass his tax reforms, which made the tax system fairer and more efficient in addition to reducing rates.
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Well, I think the reality is that as you study - when President Kennedy cut marginal tax rates, when Ronald Reagan cut marginal tax rates, when President Bush imposed those tax cuts, they actually generated economic growth. They expanded the economy. They expand tax revenues.
Tax reform for the 21st century means rewarding hardworking families by closing unfair loopholes, lowering tax rates across the board, and simplifying the tax code dramatically. It demands reducing the tax burden on American businesses of all sizes so they can keep more of their income to invest in our communities.
Actually, Congress just did pass a tax plan like Donald Trump`s.They passed a tax plan which some Democrats voted for, significant number of Democrats which gave huge tax breaks to wealthy people and corporations.
Capital available for individuals to start and expand businesses would increase with regulatory and strategic tax reforms, like reducing marginal rates, repealing the alternative minimum tax, and making the U.S. the most welcoming place for employers to relocate and create jobs.
We cut tax exemptions in 1986, it was the most admired tax reform in U.S. history. Congress and the president worked together then to eliminate scores of loopholes and exemptions and deductions; this made taxes much simpler, and allowed a major cut in tax rates.
Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates. The corporate tax is not a rich-man's tax. Corporations don't even pay it. They just pass the tax on in terms of lower wages and benefits, higher consumer prices, and less stockholder value.
Having a lower tax, simpler, fairer, flatter tax system is something that can drive growth.
The Tax Cuts and Jobs Act is a leap forward to a fairer and less confusing tax system.
We need to lower tax rates for everybody, starting with the top corporate tax rate. We need to simplify the tax code. The ultimate answer, in my opinion, is the fair tax, which is a fair tax for everybody, because as long as we still have this messed-up tax code, the politicians are going to use it to reward winners and losers.
Notably, the Trump tax cuts also doubled the child tax credit, reducing the tax burden on working families so that they have more resources to devote to their children.
On the flat tax, the more you compress the tax rates, the more you untax where the income is really made, at the top of the pyramid.
One of the high spots of the decade for me was offering the bill which culminated in the tax act of 1986, which brought rates down. That was the most difficult problem to solve: how to make the tax system of the United States more fair. We tried to make it simpler, but we failed on that one.
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
By keeping most tax rates at present levels, Obama and the Democrats will claim that they have championed tax cuts for the middle class.
Let's cut the top rates of stamp duty to enable more movement to take place and also looking at the broader tax reform, simplifying our tax system.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
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