Tax Reform Issues

reed 2011The time is now to make real reforms to our broken and dated tax code. I am committed to working in a bipartisan fashion in the House, with the White House, and partners in the Senate to find a consensus on tax reform. Today, we have released a framework of our objectives. Our goal is to create good paying, high-quality jobs while cutting taxes for the middle class. This can be done through incentivizing the manufacturing sector and small business growth, as well as lowering rates on businesses and investments. This path will ensure that hard-working folks of our region, and across America, have more money in their pockets. It is time we in DC think outside the box, no ideas are off the table. We need to make substantial reforms so that we have a simple, fair, and competitive tax code.–Tom Reed, facebook, Sept. 27, 2017

Perry Bacon Jr., writing for FiveThirtyEight, discusses tax reform. Bacon raises three questions:

  • How much does increasing the deficit matter?
  • Is it temporary tax cuts or permanent tax reform?
  • Who gets the cuts?

Bacon writes that these questions divide the Republican factions.  Bacon’s essay is well worth reading.

Tom Reed has long been a deficit hawk as the above illustration reminds us. He is also a Republican stalwart, supporting House misleaders without fail. Here are some additional questions that come to mind?

  • Will Tom Reed support a budget that increases the deficit? If so will he abandon his long-held concerns or dispute projected deficits?
  • Will Tom Reed agree to temporary tax cuts or will he demand permanent reforms? Bacon explains how this matters.
  • Will Tom Reed continue to support tax reform which mostly benefits the wealthy? If so, will his constituents be seriously offended?
  • Will Republicans rely on voodoo economics–tax cuts predicted to increase revenue–to justify their reform plan?
  • Will Republicans seek compromise with Democrats, try to woo a few Democrats, or blow off Democrat’s  as they did with health care?
  • Will Republican deficit hawks demand spending cuts to accompany tax reform?

If the GOP decides on temporary tax cuts instead of comprehensive reforms as Bacon suggests some favor, one can bet they will later demand that the cuts be made permanent–we have experienced that before.

https://fivethirtyeight.com/features/the-gop-had-one-big-divide-on-health-care-it-has-three-on-taxes/

Advertisements

About whungerford

* Contributor at NewNY23rd.com where we discuss the politics, economics, and events of the New New York 23rd Congressional District (Allegany, Cattaraugus, Chautauqua, Chemung, (Eastern) Ontario, Schuyler, Seneca, Steuben,Tioga, Tompkins, and Yates Counties) Please visit and comment on whatever strikes your fancy.
This entry was posted in 2018, Congress, Constituents, Political, Taxes and tagged , . Bookmark the permalink.

15 Responses to Tax Reform Issues

  1. Arthur Ahrens says:

    A front page article in today’s Finger Lakes Times publicizing Reed / Cuomo gun spat.
    A letter to the editor in Penn Yan Chronicle Express by a citizen criticizing Reed’s hypocrisy on Tax Cuts and berating Reed for his treatment of Dairy Farms.

    Art’s unofficial Reed Vs. Democrats Publicity Tally For NY-23 since 11/9/2016
    Includes Town Halls, Television Appearances, Editorials, Press Conferences, Newspaper Articles, Missed Opportunities

    Tom Reed 48
    Democrats 10
    Non-affiliated PRO Reed 0
    Non-affiliated ANTI Reed 1
    Democrat Missed Opportunities 5
    Reed Missed Opportunities 0

  2. whungerford says:

    Arthur, do you think Tom’s promotion of Republican tax reform proposals will hurt him? Will the voters accept his claim that tax reform won’t primarily benefit corporations and wealthy individuals? What do you think he will say about the budget deficit?

  3. Arthur Ahrens says:

    Mr. Hungerford —
    I think that an examination of Reed’s voting record will answer your questions.

    Reed has rarely voted against whatever Republican orthodoxy is current. This strategy has solidified his position in NY23. I can’t imagine him abandoning it now.
    https://votesmart.org/candidate/evaluations/127046/tom-reed-ii#.Wd6IcYhrxpg

    So he will promote whatever he is told to promote. Democratic voters will believe nothing Reed says. Republican voters will believe everything he says. And independents tend to like incumbents. I believe that Reed will be able to present his tax cut claim in such a manner that he will benefit. The one item that will be problematic is elimination of state and local tax (SALT) exemptions in NYS.

    But H.L. Mencken had it right: “No one ever went broke underestimating the intelligence of the American public.” I don’t think that most voters will object to the latest version of voodoo / trickle down economics re:corporations and wealthy individuals. Especially in NY-23.

    As far as blowing up the deficit, he’ll adhere to the current Republican line, probably linking it to defense / national security, both which play well with voters.

    Promoting the current Republican position will serve to curry favor with both the RNC and Trump ( he votes Trump’s line 97% of the time – https://votesmart.org/candidate/evaluations/127046/tom-reed-ii#.Wd6IcYhrxpg) and give him the opportunity of more favorable publicity and attendant self-promotion.

    If nothing else, he’s an excellent and effective showman, skilled at moving his favorite product : himself.

  4. Rynstone says:

    Real tax reform would completely dismantle the current tax system and the bloated bureaucratic IRS.
    It is morally wrong top tax people’s wage. An income tax should be on earned income from investments and profits, not wages. It is morally wrong to take money from people’s wages and then force companies to collect and forward that money to the iRS.
    We must have a “flat tax” or a “fair tax”. We must simplify the American tax code to get rid of corruption in politics and save the American Taxpayers billion. This will in-turn allow us to lower corporate taxes and private sector business will grow.

    I recommend that everyone read “The Interesting History of Taxation” by William Federer and the book by Stephan Moore and Arthur Laffer ” “Return to Prosperity: How America Can Regain its Economic Superpower Status” also Moore;s books “Who’s the Fairest of Them All? The Truth About Taxes, Income and Wealth in America”, It’s Getting Better All the Time: The 100 Greatest Trends of the Last Century,” and “Government: America’s Number One Growth Industry.”

    Our government has simply grown too large and they redistribute too much money that they take by outright theft.
    https://en.wikipedia.org/wiki/Taxation_history_of_the_United_States

    BIG GOVERNMENT SUCKS the money and life from the citizens, taxpayers and business. !

  5. Rynstone says:

    Wungerford, Please read “Extortion” by Peter Schweizer and then comment on the book thru an independent lens/ Thank you

  6. whungerford says:

    I don’t plan to read Schweizer’s book, but here is an article written by him. I like the idea of restrictions on politicians receiving contributions while Congress is in session, but don’t think it goes far enough.

  7. Rynstone says:

    Why aren’t you interested in reading “Extortion”?
    Perhaps you can help me understand why all of the many Progressive Liberals know are not interested in learning about Constitutional conservative and libertarian policies that promote smaller government, more freedom, more personal responsibility and more personal charity in-place of the outright immoral theft of taxpayer monies by the government ?

    If someone stole a persons earnings like the government does they would be arrested and thrown in jail.

  8. Arthur Ahrens says:

    Trump’s Tax Plan will lavish most of its benefits on the very highest earners.

    https://www.washingtonpost.com/blogs/plum-line/wp/2017/10/16/the-scamming-runs-very-very-deep/?hpid=hp_no-name_opinion-card-e%3Ahomepage%2Fstory&utm_term=.34afa4fe644d

    Krugman talks about the tax??? reform???
    Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,Lies,

  9. Rynstone says:

    Arthur, that entire Washington Post article is nothing more than an op-ed of an obvious Trump hater.

    Why don’t we wait until we see an actual tax reform Bill to judge it. Unless it is a revolutionary flat tax or fair tax or a truly revolutionary tax reform Bill I, along with most Constitutionalist and Conservatives, most likely will not be happy.

  10. whungerford says:

    Why not wait? Clearly because Congress can’t be trusted to do right, especially without input from the public. Do we suppose lobbyists are waiting? Certainly not.

  11. Rynstone says:

    We are just chasing our tails if we don’t wait for teh Bill. Then we contact our congressional members and discuss what we do not like.

  12. Rynstone says:

    VP Pence and Congressman Chris Collins in Buffalo to promote tax Bill.
    Without a tax Bill we don’t even know what they are promoting!?!?!?!?

    http://thehill.com/policy/finance/355646-pence-joining-ny-rep-to-pitch-tax-reform

  13. Arthur Ahrens says:

    Rynstone says:
    August 17, 2017 at 1:39 pm
    Arthur, unfortunately you are so closed minded it is impossible to have an open and honest discuss or debate with you. However, I will always defend your Right to spew forth you closed minded nonsense. Good day sir.

  14. Rynstone says:

    Relax Artie, why spoil a good thing !

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s