Posted by Tina
Democrats told us tax cuts wouldn’t work to build our economy and create jobs. They said that 2% growth was the new normal and we shouldn’t expect better…ever again. They said that even after being shown the evidence from John F Kennedy’s era. The media was of the same mind:
“GOP tax bill and overseas profits: Beware the hype,” ran a headline on the PolitiFact website.
“Why the GOP tax plan to repatriate offshore profits may flop,” said a CBS News topper.
But a report from the the Bureau of Economic Analysis (BEA) indicated the tax plan wasn’t a flop…“some $305.6 billion returned to the U.S. from overseas accounts. That’s a $1.2 trillion annual rate, and far more than the $35 billion one year before.”
This is a big shot in the arm for the American economy and job opportunity. It isn’t a one time thing. As Trump likes to say, “We ain’t seen nothin’ yet.” Lower rates will mean investment of one kind or another over many years.
If we were smart we’d make the cuts permanent. Why would anyone be in favor of blunting the thing that generates good jobs, rising wages, and a thriving economy for the people? Why would anyone favor sending more kids to college and then create conditions that give them few jobs to go to when they finish? Why would anyone enact tax policy that decimates the middle class?
Socialist thinkers would do that. Barack Obama and the Democrats did that. They believe that government should provide and distribute whatever citizen’s need. Fairness is usually cited as the reason. The problem with that is when freedom to act on one’s own behalf is removed so is the incentive to create or invent, to strive and achieve…to follow ones dreams…to succeed. And when that dies so does the incentive to be personally charitable.
America has a long history of rugged individuals forging their place and helping their neighbors to do the same. What an incredible heritage we enjoy! It’s certainly worth preserving and it’s good to see more and more Americans who get it, who fight for it, and who want to see America great again. Low taxes and smaller government is the answer to a stronger America and a more charitable America.
Bet there will be another tax cut and jobs bill before congress prior to November to make the individual cuts permanent. Let’s see how many dems vote against it this time after they all voted against it the first time.
There were numerous stories about dozens of US companies in the Obumble years storing their profit$ overseas because they would be so heavily taxed if they had brought them back to the US.
And now those companies – and their workers – are benefiting from the return. Although m and most individuals won’t see REAL savings until they do their 2018 taxes next year and find their deduction$ raised and many will only require the new postcard for filing.
Thank goodness for TheDonald’s tax plan!