Tag Archives: Tax

Jerry Bowyer: A Tax Change the President Should Embrace

Bloomberg News and CNBC report that the Trump administration is seriously considering a rule change which would stop the IRS from taxing investors based on phantom gains from inflation.

Let’s say you buy an investment for a hundred dollars and sell it a few years later for 105 dollars, but inflation was 5 percent. You didn’t really make any money. In real purchasing power, you just broke even.

The way the system works now, you’d have to pay taxes on that five dollars. That’s not taxing income; that’s confiscating wealth.

Larry Kudlow, now the president’s chief economic advisor has long been a champion of the idea, and it looks like the president is on board. And: It looks like the president can do this without buy-in from Congress.

We should hope the president embraces this idea and moves forward with it.

It’s good economics—and it would be good politics as well.

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Lanhee Chen: Medicare-For-All Myths

This is Lanhee Chen of the Hoover Institution for townhall.com.

Bernie Sanders and his lefty friends are at it again. He’s reintroduced legislation to create a socialist-style takeover of our health care called Medicare-for-all.

Make no mistake: It would do just as much damage to our health care as would previous efforts to install a single-payer system.  Here are the facts:

• First, Medicare-for-all would cost tens of trillions of dollars on top of what the federal government already spends on health care. Even much higher taxes on every American worker wouldn’t pay for the socialist-style system that Sanders envisions.

• Second, Medicare-for-all would mean that many Americans would have to give up the health insurance coverage they currently have.  Like your plan today? Get ready to say goodbye to it.

• Finally, Medicare-for-all could compromise the existing care that our seniors on Medicare already receive by making it harder to gain access to the doctors and hospitals they trust.

Sanders and his allies have a way of making the awful sound great.

Don’t get fooled.

I’m Lanhee Chen.

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Michael Medved: Altering America Beyond Recognition

Every election, candidates claim: “This is the most important election of our lifetime” but that’s generally untrue. For better or worse, no President since Reagan has profoundly transformed the country, but 2020 could well be different.

Democrats seem determined to run on a radical, irresponsible platform that includes the Green New Deal, race-based reparations, Medicare for all, “soak the rich” Tax hikes, and free pre-school and college. Such programs would bring a vast expansion of the welfare state, strangling growth and swelling budget deficits.

Even worse, Democrats seek permanent rule by discarding the Electoral College, packing the Supreme Court, and destroying conservative media with some version of the discredited “fairness doctrine.” They also seek instant statehood for Washington D.C. and Puerto Rico—guaranteeing four new Democratic Senators. If Democrats sweep both White House and Senate next year, America could be altered beyond recognition – perhaps beyond recovery.

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Michael Medved: Topsy-Turvy Values Behind the Anti-Business “Head Tax”


A shockingly stupid proposal has outraged the business community here in Seattle, illustrating the topsy-turvy values of contemporary liberalism.

The City plans to enact a punitive “head tax” on every business with revenues of more than 20 million dollars. These companies would be forced to pay a special tax for each of their full-time employees, with the money providing more services for the homeless.

A decent government ought to encourage beneficial behavior, while discouraging self-destructive and damaging conduct. But here, Seattle leftists mean to reverse the equation: punishing job creation—good behavior that benefits everyone—while rewarding dysfunctional and destructive behavior, like camping out in public parks or under freeways. This folly demonstrates the twisted thinking that characterizes progressive ideology.

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Lanhee Chen: Paul Ryan One of the Conservative Movement’s Most Articulate and Thoughtful Leaders


Paul Ryan has announced that he won’t be running for reelection again this fall.

He was first elected to Congress in 1998 and during his 20 years there, has served the citizens of the First District of Wisconsin well. Even as he rose to become one of the most powerful elected leaders in the country Paul remained a humble man who is, above all, a devoted husband and father.

History will remember Paul Ryan for being one of the conservative movement’s most articulate and thoughtful leaders.  He fought for important ideas like a balanced budget, reform of our tax code and entitlement reform.

But I will remember Paul Ryan as so much more.  I had the privilege and honor to work with him when he was the GOP’s nominee for Vice President in 2012.  There is almost no one in public life whom I respect and admire more.

He will be missed.

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David Davenport: Jerry Brown’s Blue Christmas

California governor Jerry Brown has been everywhere, preaching the gospel of blue-state California. California wildfires are the curse of climate change, he told 60 Minutes, while he whisks off to yet another climate conference in Paris, warning that the world is on the road to hell. He says the new federal tax cuts are a “monstrosity,” while he raises taxes at home.

Brown has turned California into a blue-state model of governance, but all is not calm or bright. Even with higher taxes and Silicon Valley growth, the state budget has a deficit and its pension deficit has grown dramatically.

Meanwhile jobs continue to flee the state in the face of high labor costs, high taxes and over-regulation. California has the highest poverty rate in the nation. The cost of housing is sky-high and the roads are old and gridlocked.

Much has been made of Governor Sam Brownback’s failing red-state experiment in Kansas, but Jerry Brown’s blue state Christmas left lumps of coal in many stockings.

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Lanhee Chen: Significant Accomplishments For GOP And Trump In 2017

Tax Reform

It’s been an eventful year in American politics, but don’t let the hype distract from the reality.

It’s also been a year of significant accomplishments for the Republican Congress and, yes, President Donald Trump.

Congress passed significant legislation to cut taxes for many middle-class taxpayers, make our economy more competitive, and set the groundwork for long-term gains in wages, job creation and economic growth. The tax cut bill also dealt a big blow to Obamacare, by neutering the law’s unpopular individual mandate.

President Trump has worked with congressional Republicans to cut red tape and the size of the bureaucratic state. He’s also appointed conservative judges, including Supreme Court Justice Neil Gorsuch, who will interpret the Constitution with deference to what’s actually in it—not what they think should be in it.

With the New Year comes yet another election and more challenges for lawmakers on Capitol Hill and President Trump. But let’s take a moment as 2017 draws to a close to acknowledge that much good work has been done and to give credit where it’s due.

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