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Tag Archives: Corporate Tax

Jerry Bowyer: Tax Reform and a Chance to Make up for Lost Decade

Jordan Peterson

Last week, Republican leaders announced their tax reform plans.

The good news is that they’re pro-growth: US corporate tax rates are today the highest in the developed world, and our current system perversely punishes American companies for bringing profits back from their foreign sales. The GOP plan fixes that problem. It also cuts taxes for what has been labeled “flow through” businesses —small and family-owned businesses often use that form. My own family business uses it. The reason it’s important to cut taxes these types of small businesses is because American jobs are almost all created the same way: by small businesses becoming big businesses.

It’s been a pretty bad decade for the U.S. economy: a terrible recession followed by barely a whiff of a recovery.

That lost decade has cost us standing abroad and frayed the social fabric at home. We can end that by embracing the growth model of JFK, Reagan and Gingrich/Clinton.

Americans can’t afford another lost decade.

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Hugh Hewitt: The White House West Wing (Staff) Renovation

U.S. Senate

The exit of Stephen K. Bannon completes a restructuring of the West Wing that began almost as soon as the president took office and is now apparently complete. Like the physical renovation of the West Wing, it was noisy, not very attractive … but it was necessary.

What is needed now are successes in cooperation with Congress—beyond confirmation of Supreme Court Justice Neil M. Gorsuch, the Veterans Affairs reform bill, and the 14 Congressional Review Act laws that were all enormously significant—but those were low-profile victories, and it seemed like Gorsuch was half a year ago.

What is needed above all is either a tax bill or resurrection of the health-care fix. Slashing the corporate tax rate is probably the easiest (and perhaps most economically significant) bit of legislation to accomplish—but so too must arrive the repeal of the Budget Control Act, which has devastated national security via the “sequester” and hamstrung a key Trump promise, that of a 355-ship Navy.

The staffing reset—along with a rhetorical reset from President Trump himself begun last week—can help get things moving.

 

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