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

Just Say No to Trump’s Progressive Tax the Rich Plan

by: the Common Constitutionalist

There have been plenty of candidates on the Republican side who have advocated for a flat income tax. Most, if not all conservative Republicans have offered up some variation.

And given a choice between the current tax system and a flat income tax, most people, me included, would choose the flat tax.

A flat tax is a good gauge of just how conservative a candidate really is. After all, a progressive income tax is just that – progressive – and aren’t we, or shouldn’t we be done with big government progressives?

So when we hear Donald Trump say he’s a conservative who wants an additional tax levied on those wealthy Wallstreeters, Hedge Fund Managers and the like, we know he can’t be a conservative, as we define it. So, by extension, anyone who advocates for any sort of flat tax is automatically more conservative and less a big government progressive.

One of the major reasons those who advocate for a flat tax is the incredibly complex and burdensome tax code, and the IRS itself. By instituting a flat tax we can rid ourselves of virtually the entire tax code, thus eliminating 90+% of the IRS.

As an added benefit, there would be no more need for lobbying firms in Washington. Lobbyists flood D.C. for a singular purpose. They are there to make back room deals – buy influence, favors and most importantly, tax exemptions. They pay millions of dollars every year to lobby politicians into writing carve outs for their clients, to lessen their tax burden. It’s a total racket. The flat tax would eliminate all of this.

So, it sounds like I’m firmly against Trump’s populist wealth and Hedge fund tax idea, and I am, but I’m also not in favor of a flat income tax. If we must be taxed, and we must, it should not be on our production, but on our consumption. read more