Tag Archives: tax cuts

Jerry Bowyer: What to Do for a Slowing Economy

The Trump tax cuts have done great things for our economy, but—as I’ve warned—the economy is slowing down somewhat. The new GDP report shows the growth rate last quarter dropped from an above average 3.4 to a below average 2.6 percent. Overall, 2018 was a good year for the economy, but at the end it lost some steam, but we can get it back.

First, get out of the trade war. It’s made trade deficits higher and hitting farmers particularly hard. We’ve already created the conditions for American economic preeminence with the tax cuts, let them do their thing and let’s not seize defeat out of the jaws of victory.

Second, stabilize the dollar. America became the envy of the world when the dollar was stable in terms of gold and the currencies of other trading partners.

With just a few changes, we can unleash the American economy.

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Jerry Bowyer: Economic Growth and American Greatness


It appears that the economy is slowing down and that markets are signaling even further weakening. I’ve been an economic optimist since the Trump election—especially when he made broad-based tax cuts a priority. But I did warn that the effects of the tax cuts would be short-term unless he continued to push in a pro-growth direction.

But after the cuts, the president instead pivoted towards increasing taxes on international trade. Make no mistake: tariffs are taxes. And as such, they choke growth.

And that’s exactly what has been happening.

Economic growth has gone from a sizzling summer of over 4 percent to an average fall at under 3 1/2 percent and the winter looks like it might be cooling down to under 3 percent.

If—in the president’s language—we want to make America great again—and we really want to beat China, growth is the way to do it.

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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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Michael Medved: Trump Wins as a Mainstream Conservative

Opioid

Donald Trump’s first year in office delivered an array of important achievements: confirmation of conservative judges, including Neil Gorsuch; more support for oil pipelines and oil drilling; dramatic progress against ISIS; deregulation and enhanced border security; the end of meddlesome net neutrality; the recognition of Jerusalem as Israel’s capital; and, most importantly, sweeping tax cuts and a new pro-business approach. What’s striking about these accomplishments isn’t how extraordinary they are but how normal: how consistent with well-established Republican goals and values. It’s easy to imagine that much the same policies might have been pursued by President Trump’s primary rivals—or by Mitt Romney, the last GOP nominee.

 

The two initiatives that caused most substantial disagreement with many conventional conservatives—canceling the Trans Pacific Partnership and unilaterally leaving the Paris accords—hardly defined ​Trump’s presidency or brought about the calamitous results his critics feared.

 

At year’s end, President Trump found historic success not as a radical outsider but as a sensible, determined, mainstream Republican.

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Jerry Bowyer: ‘ Trump Trade ’ Will Be Over Without Tax Cuts

Shooting Florida

The stock market had a great run after the election of Donald J. Trump as president. This put egg on the face of many elite commentators who predicted that a Trump victory would be disastrous for the economy.

Indicators of economic optimism also improved, and some business activity indicators improved in response. But lately plans for tax reform have been splintering into competing versions.

Some GOP leaders seem willing to cave on key issues such as whether to cut rates for the highest bracket and whether to delay corporate tax reductions. In response markets have leveled off, and there are some signs that growth is sagging too.

It is imperative that tax cuts be passed now and implemented immediately. Republicans will get no credit from the electorate for bi-partisanship if they sail into the next election with a weak economy on the horizon. It doesn’t need to be fancy. But it needs to be soon.

We’re past the time for rhetoric: we need successful votes and tangible policy shifts, otherwise the famed ‘Trump Trade’ may well be over.

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Salem Media at the White House As Tax Reform Effort Begins

White House, Obamacare, shooting, Paris Climate Agreement

Townhall Review – September 21, 2017
Mike Gallagher and Hugh Hewitt are invited to the White House to interview President Trump and Vice President Pence. President Trump discusses healthcare and media bias, while VP Pence discusses the administration’s focus on tax cuts and foreign relations. Sally Pipes, president of the Pacific Research Institute, joins Larry Elder to talk about Trump’s executive order on healthcare. Grover Norquist, founder and President of Americans for Tax Reform, sits in with Dan Proft to share insights on President Trump’s tax reform. Hugh Hewitt invites Israel’s Ambassador to the U.S, Ron Dermer, on to discuss the conflict between the Kurdish and Iraqi forces in Kirkuk. Dennis Prager looks at a piece from author and playwright Andrew Klavan in light of the Harvey Weinstein scandal. Lanhee Chen, of the Hoover Institute, and Cory Garner, chairman of the National Republican Senatorial Committee, discuss the future of healthcare.

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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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