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Tag Archives: income

Jerry Bowyer: What Should We Expect From the Recent Tax Cuts

Shooting Florida

What should we expect from the recent tax cuts? In a word, “growth.” At Townhall Finance, we recently reviewed the historical data around the Kennedy, Reagan and Bush tax cuts.

 

What we found is that the economy slowed while waiting for the tax cuts to kick in, and then boomed afterwards. So far—true to form—we’ve seen the economy slow down a bit at the end of 2017 and then show real signs of strong growth this year. The Atlanta Fed, hardly Trump’s home team is forecasting greater than 5 percent growth this year. What would that mean for us? About 400 billion dollars of new wealth this year alone.

 

Let’s say you take your typical tax cut and invest it. Over 30 years it could result in $53k dollar in additional income for your family. We’re talking about real money—the kind of money which can help the Republicans in Congress do much better in the elections than the talking heads are predicting.

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Albert Mohler: Marriage For “Most Privileged” Americans

Billy Graham

Something is happening to the American family.

Claire Cain Miller, writing at the New York Times, reports that—quote: “Marriage, which used to be the default way to form a family in the United States, regardless of income or education, has become yet another part of American life reserved for those who are most privileged.”

Back in the 1960s, it was the children of privilege who declared themselves independent of marriage. But as it turned out over time, those who have a greater economic investment tend to be far more conservative in terms of their actual lifestyle choices.

So the more education and income one has, the argument goes, the more an individual has to lose by making bad choices. Conversely, someone with very little income and who sees very little opportunity in the future effectively has less to lose by making those same bad choices.

In reality—as Brad Wilcox from the University of Virginia argues—there is a well-defined success sequence: finish school, get married, then have kids. Breaking that success sequence is one of the most fundamental problems we now face.

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