Administration to Cut More Regulations

from the Washington Free Beacon:

Feds to Repeal 298 Tax Regulations

Steve Mnuchin

Treasury seeking to eliminate outdated regs dating back to 1941

The Treasury Department plans to eliminate nearly 300 outdated tax regulations, getting tax rules off the books that in some cases have not applied since the 1940s.

The department announced its proposal to eliminate unnecessary tax regulations this week, in compliance with two executive orders signed by President Donald Trump last year to reduce regulatory burdens and simplify the tax code. read more

Tax and Spend GOP

from Conservative Review:

Pain at the pump! GOP considers gas tax increase

On Monday morning, President Trump took to Twitter to announce a “big week for Infrastructure” (again) as the administration is set to roll out a $1.5 trillion plan to invest in American infrastructure. The administration claims that by relying on state and local governments, and with reductions in the federal budget, the cost to the federal government will be just $200 billion. read more

Foxconn’s Olympic Venue

by: Brent Smith at the Common Constitutionalist

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On the surface, it’s great to hear that companies are repatriating themselves. Not just money coming back in, but companies either moving back or expanding facilities in the United States rather than over seas.

The problem is that many States are so desperate for the potential of an additional tax base that state governments tend to offer extraordinary perks and tax breaks to entice the multi-national corporations to set up shop in their State. So much so that the companies end up receiving ridiculous amounts of relief and “incentives” from the State for the privilege of effectively underwriting the new facility.

Exhibit A: In July, 2017, Foxconn, the Taiwanese manufacturer that makes electronics for Apple and other tech companies, announced that it will build a manufacturing facility in Wisconsin. Governor Scott Walker eagerly proclaimed that, “The project will create 13,000 new jobs and should be completed by 2020.”

Foxconn’s projections were a tad more subdued. “In a statement, the company said the project will create 3,000 jobs with the ‘potential’ to generate up to 13,000 new jobs.” read more

WND Exclusive – Reality Will Trump Perception as Paychecks Grow

On Nov. 29, the prognosticator website FiveThirtyEight announced that, “The GOP Tax Cuts Are Even

 More Unpopular Than Past Tax Hikes.”

“Poll after poll shows that more voters than not are opposed to their efforts,” wrote the website. They claimed that only about a third of voters support the tax cut plan, and that, “the GOP bill is one of the least popular tax plans since Ronald Reagan’s day.”

Well, at least Trump and the Republicans are in good company. You may (or may not) recall the left’s visceral hatred of Reagan. His tax cut and economic plan was also to be the end of the world, but actually gave us the longest period of sustained growth during peacetime and the second-longest period of sustained growth in U.S. history.

Maybe FiveThirtyEight should instead do a little research on how often the Democrats are wrong about pretty much everything. read more

Video Podcast – Let’s Talk Taxes

by: Brent Smith at the Common Constitutionalist

The Senate has now passed their version of Tax Cuts and Jobs Act. The House has already passed their version. Now it’s on to joint committee to iron out the differences and vote. Then it’s off to the President’s desk for his signature.

Is the Senate version any good? That depends on you ask. But it’s an improvement over our current mess.

The only republican to vote against it was Bob Corker of Tennessee.

I’ll discuss the bill, what a phony Senator Corker is and my thoughts on the bill. I’ll also give my sales pitch for a different type of tax. read more

Video Podcast – How to Pay for Infrastructure

by: Brent Smith at the Common Constitutionalist

Today I discuss the nation’s infrastructure that is apparently in need of a serious upgrade – at least according to the current administration.

The question is how we pay for the new massive public works program. Well, some have floated the idea of increasing the gas tax by seven cents a gallon.

I explain why this is a bad idea, as is the reasoning behind it and whether we even should. read more

Tax Cuts and Discounts are Really the Same Thing

by: Brent Smith at the Common Constitutionalist

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As the tax debate in Washington heats up, we’re hearing the same tired old refrain of, “The rich don’t deserve nor do they need a tax cut.” It’s an absurdly populist statement. However, this time it’s coming from both the dems and republicans.

In defense of tax cuts for all, the rich included, let me first quote some boring facts and figures. Then I will attempt to inject some business sense into an otherwise senseless argument.

Tax cuts will in fact grow the economy, yet I heard the leftist billionaire Tom Steyer say that since the 1980’s, the top tax rate has been cut from 70% to under 40%. He adds that during that time wages for workers have stagnated. I won’t argue that point here.

I heard him say he got rich on Wall Street, so he knows all about the economy. If this is so, and we’ll assume it is – it would mean he’s lying by omission and knows he is. But he knows most aren’t schooled enough to catch him in the lie.

In fact the economy did grow massively after Reagan’s huge tax cuts. But wages are just a portion of economic growth. And wages, like almost everything else, do not occur in a bubble. Other things affect wages – not just growth, or lack of it.

First, would you rather have a job at slightly lower wages, or no job at all, which occurred during the Carter years? And of course wages often don’t tell the whole story. read more

Bernie Continues to Bash the Rich

by: the Common Constitutionalist

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Politics is the art of currying favor with voters to secure an election. More often than not it is currying favor to secure reelection.

How do politicians’, particularly leftists, best curry favor? They do so by means of give-aways – or at least the promise of give-aways. This is the modern leftist politicians’ job – to makes promises to give voters free stuff. And it’s why so many incumbent politicians get reelected.

Incumbents are already on the inside. A challenger is on the outside looking in. They can only make promises, while the incumbent can remind voters of the free stuff they are already getting – and if they want even more, they should reelect the incumbent. This puts the challenger at a decided disadvantage.

Democrats are masters of the art of the “promised” give-away. But for them and those who actually believe their rhetoric, it is not just about giving away stuff, but promising to take other peoples’ stuff by force of government and giving it to their voters.

The evil rich are their favorite target, and we saw this on display during the Cruz/Sanders tax debate the other night on CNN. All night it was Sanders vs. the rich, with an injection of reality and reason from Ted. read more

WND Exclusive – Democrats love taxing us to death — and beyond

President Trump’s new tax proposal is pretty good. It’s not great, in the opinion of this consistent Constitutionalist, but it ain’t bad.

Naturally, the Democrats hate it. Ali Baba Schumer and his gang of thieves are using the same old tired argument, that it’s just tailored toward benefiting the rich and that “working families” will suffer should Trump triumph.

I think the last Democrat who was in favor of a tax cut was President Kennedy some 54 years ago. As much as we conservatives like to crow about the Kennedy tax plan, it wasn’t great. Oh, it sure did cut taxes, but it wasn’t what we think. read more

Finland Loves Speeders – They’re Good for Business

by: the Common Constitutionalist

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The next time you have to pay a few hundred dollars for a speeding ticket – thank your lucky stars you don’t live in Finland.

A few days ago my son and I were watching a rerun of an episode of The Grand Tour on Amazon. It is the continuation of the wildly successful British program, Top Gear. After one of the hosts got sacked by the BBC, Amazon offered the three hosts about a gazillion dollars (or pounds) to effectively continue the show.

The episode took place in Finland. Finland is unabashedly socialist and progressive. Possibly the most socialist of all European nations.

They are so progressive that they means test virtually everything. Finland is the embodiment of the Marxist ideal of, “from each according to his ability, to each according to his needs.”

One of the show’s hosts, Richard Hammond, discussed the matter of a simple speeding ticket received by a wealthy Finnish citizen. He was pulled over and ticketed for going 49 in a 30 mph zone.

In America, this might warrant one a ticket of maybe $50 to a few hundred dollars, depending on the State. But regardless of the State, at least for now, everyone ticketed pays the same amount. read more