Tag Archives: taxes

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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Lanhee Chen: After Mueller: A Look at the 2020 Election

President Trump faces a much clearer pathway to reelection in 2020 now that Special Counsel Robert Mueller’s found no evidence that the President or the Trump campaign colluded with Russian efforts to influence the 2016 presidential election.

President Trump’s task ahead is to focus his reelection effort on the reasons why voters should give him a second term in office.  And while Democrats continue to obsess over Trump and his alleged misdeeds, it’s up to the President and his team to focus instead on the ways in which they’ve improved the livelihoods of the American people with tangible policy accomplishments.

The President spearheaded tax cuts that have helped many Americans keep more of their hard-earned money; his Administration has cut regulatory burdens and red tape to spur economic growth; and he has appointed judges to federal courts who respect the rule of law and the Constitution.

If President Trump can keep his rhetoric—and his focus—on touting these accomplishments, he’ll go a long way toward winning four more years in the Oval Office.

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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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David Davenport: Questions About Walls


President Trump loves walls—besides a border wall with Mexico, he wants to erect trade walls to protect American steel and aluminum with tariffs of 25 and 10 percent, respectively.

In his famous poem about walls, Robert Frost said, “Something there is that doesn’t love a wall,” adding that before he built one, “I’d ask to know what I was walling in or walling out, and to whom I was likely to give offence.” Those are good questions for Mr. Trump’s policy.

He wants to wall out foreign products that are cheaper than American products. But this will trouble not only nations that produce them, but also American consumers who like to save money.

There’s also a question of constitutionality, since the president’s power to do this is based on national security. And the biggest question:  will tariff walls even work in a global economy?

Many important questions about walls.

 

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Lanhee Chen: Healthcare and the 2018 Agenda

Tax Reform

As the Republican-led Congress plans the 2018 legislative agenda, healthcare needs to continue to be a top priority.

 

Health premiums are soaring, and millions of people have little or no choice of health insurance. Millions of people who once could afford coverage no longer can, and many find that their health insurance premiums cost more than their mortgage or rent payments.

 

In a new Associated Press-NORC poll, nearly half of Americans said health care is their primary concern for 2018, topping taxes, immigration, education, and the environment by more than 15 percent.

 

Obamacare has failed miserably in fulfilling the last administration’s promise to cut health costs. The typical American worker now must devote roughly twice as many work hours to cover health costs as to pay for food.

 

Individuals need to be empowered with greater flexibility and choice. And states are better equipped than Washington to oversee their health insurance markets. This requires legislative action from Congress for these new and better choices.

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Jerry Bowyer: A Necessary Fix On Tax Reform

Shooting Florida

The Senate version of tax reform has a hidden problem which needs to be addressed. It would greatly increase the tax burden on companies which are in debt. When a company expands operations, by say, building a factory, they usually borrow money to do it.

The tax code has always allowed business to take the cost of that borrowing into account when they calculate their profit for the sensible reason that it is a cost of doing business. Tax reform is cutting that back, and the Senate version is cutting it back severely, especially for companies that own a lot of heavy equipment such as miners and manufacturers, exactly the type of companies that we’re trying to revive as part of the Trump growth agenda.

If we get this wrong, during the next downturn, we may well see an epidemic of high growth and heavy equipment companies driven into bankruptcy by their inability to pay their old debt and their new taxes on it at the same time.

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