Tag Archives: Tax

Hewitt: An Impressive Record of Accomplishments


President Trump has record of accomplishments that’s pretty easy to compile.

Most significantly, he has brought the existential threat posed by the Chinese Communist Party into the sunlight.

Trump has buttressed the constitution—with two justices on the Supreme Court, 53 judges on the federal courts of appeal and over 140 district court judges.

President Trump’s tax cuts—along with his massive deregulation—led to 3.5 percent unemployment until the regime in Beijing acted with criminal recklessness towards a virus that has devastated the world.

Trump’s brawling, slugging, tempestuous approach has worn down many, but his road is marked by these accomplishments.

The elites are convinced he must be beaten. But Americans want their jobs and security back. They like the police. They like civil order.

Yes: Polling shows him behind 50-year D.C. insider Joe Biden.

We’ll see.

I feel pretty good about President Trump’s chances.

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Hugh Hewitt: The Coming Battle Over COVID

The vast fiscal crisis descending on states as a result of COVID-19 will challenge them all.

But the financial burdens brought about by massive tax-revenue losses caused by the virus should not be conflated with the preexisting financial conditions of many states.

Some states will try to secure financial bailouts for long-practiced profligacies and do so at the expense of the more thrifty, prudent states.

New York Governor Cuomo has been raising his voice, literally, trying to divert attention from this core dilemma, using the genuine suffering and an anti-McConnell press as a shield. But Governor Cuomo shouldn’t be allowed to cloud the clear vision of the massive problem.

The coming debate really isn’t about Trump, Cuomo or McConnell. It’s about structural federalism, the genius of our republic.

This isn’t about grace. Much grace, in the form of vast grants of funds, has already been given.

It’s about federalism.

And it’s about prudence.

That which gets rewarded gets repeated.

If we reward that financial mismanagement, we’ll get more of the same.

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Hugh Hewitt: The Lessons of Impeachment

With “The impeachment pageant” largely behind us, get ready for the flood of “What did we learn?” essays.

But there are no “lessons” here other than the abuse of power by members of a partisan majority in the House to raise profiles and profits for themselves. This chapter leaves a constitutional scar. This behavior is not what impeachment was intended for. President Trump’s phone call did not include any offense, much less any impeachable one.

We won’t know for 50 years what impeachment does to Trump’s place in history.

My guess? Not much, given his outsize personality and growing list of achievements, including:

• rebuilding of the U.S. military
• appointments of—so far—two Supreme Court justices and a growing list of appeals court and district court judges
• a massive tax cut
• a very strong economy
• 3.5 percent unemployment

And I could go on.

All that remains are ashes of the left’s hopes and a scar on the Constitution.

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Jerry Bowyer: Economic Numbers Look Solid

Despite the ever-present media hysteria, it’s become clear that on the issue that really matters, Trump finished 2019 strong. I’m speaking, of course, about the economy. 2019 started with some economic turmoil and uncertainty. The trade war with China created a stock market whiplash and business anxiety.

But the data shows things have finally turned around. Economic confidence has been rising for months. 52 percent of investors approve of Trump’s handling of the economy, compared to just 32 percent who do not approve.

It’s no wonder that stocks have been hitting record highs. After the tax reform bill, the fundamentals of the economy were strong, and market performance reflected that.

That is, until the trade war killed Trump’s would-be boom in the cradle. Now that Trump is again on solid footing, he could be well on his way to victory in 2020 … as long as he steers clear of another trade war.

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Jerry Bowyer: Beto Makes the Case for State Suppression of Religion

On CNN last week there was a deeply disturbing exchange between Democratic candidate Beto O’Rourke and Don Lemon, who asked:

“Do you think religious institutions—like colleges, churches, charities—should they lose their tax-exempt status if they oppose same-sex marriage?”

“Yes. There can be no reward, no benefit, no tax break, for anyone, any institution, any organization in America that denies the full human rights and the full civil rights of every single one of us.”

Just to be clear, this not about whether donors should be allowed to deduct contributions or not. This is an open call for the state to tax the church, to seize the assets of the church—and synagogue and mosque—and not of churches in general, but targeted at the ones who retain the orthodox positions of their respective faiths.

It’s an argument for the state suppression of religion.

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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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