Taxes

Democrats Revive the “Trickle Down” Smear

Featured image In the 1980s, the Democrats reviled President Reagan’s tax cuts as “trickle-down economics”–a phrase they themselves had invented many years before. But the Reagan tax cuts produced the greatest boom in America’s modern history. The results were so sensational that Reagan carried 49 states when he ran for re-election in 1984. That shut the Democrats up for a while, but bad ideas never go away forever. The Democrats are now »

Monkey business at the CBO?

Featured image The mainstream media almost never mentions the Congressional Budget Office without adding the adjective “non-partisan.” But the CBO is staffed by folks who, in real life, are probably partisan. And given the pool from which its staff is drawn, most very likely are partisan Democrats. Are its findings infected by partisan bias? I don’t know. But something funny is going on with the CBO’s assessment of the impact of repealing »

Does the Republican Tax Plan “Screw Democratic Voters”?

Featured image That’s what Kevin Drum says at Mother Jones. Leftists are up in arms at the idea of taking away the federal tax deduction for state and local taxes and capping the home interest deduction at $500,000. Drum points out that this will hurt residents of blue states: The Republican tax plan caps the mortgage interest deduction at $500,000. The Washington Post today has a lovely chart showing which states this »

Stumping Sanders

Featured image I missed the town hall debate on tax reform held earlier this week in Washington between Senators Bernie Sanders and Ted Cruz. Hosted by CNN, the debate may have been missed by many Power Line readers. The Daily Wire’s Robert Kraychik draws attention to one of the highlights with the question put to Sanders by Cruz: “What is the difference between a socialist and a Democrat on taxes?” The question »

Grading Trump’s Tax Reform Plan

Featured image Today President Trump and Congressional Republican leaders released a “framework” for tax reform, which you can read here. The framework is more an outline than a plan; while its principles are generally good, a lot depends on how Congressional committees fill in the details. And then, of course, it remains to be seen what will actually get through Congress. So far, leadership’s track record is not encouraging. Here are some »

Thoughts from the ammo line

Featured image I think Ammo Grrrll is observing the second day of Rosh Hashanah today, but she filed this one before sundown on Wednesday. You are therefore empowered to profit from EAT THE RICH! She writes: Remember when Rachel Maddow had the big scoop of “somehow” getting hold of one of President Trump’s tax returns? Never mind that every way of getting such a thing involved illegality. It was supposed to be »

Associated Press Says: Don’t Cut Taxes!

Featured image The Associated Press is one of many “news” outlets that has gone into overt opposition, now that we have a Republican rather than a Democrat in the White House. Today’s AP “Top News” feature is headlined: Doubts arise on whether corporate tax cut would boost growth. The passive voice is generally a giveaway. Where, exactly, are doubts “arising”? Trump insists that slashing the corporate tax rate from 35 percent to »

On DACA, Let’s Make a Deal

Featured image Two headlines in today’s news are, I hope, related: “Trump expected to end program for young immigrants,” and, in the Milwaukee Journal Sentinel, an op-ed by President Trump himself: “We must fix our self-destructive tax code.” Paul wrote earlier today about Trump’s reported DACA decision, considering it on a stand-alone basis. Everything he wrote is, I think, true. DACA was obviously unconstitutional, and Trump has merely stated (or is expected »

Blue Governance in the Emerald City

Featured image I don’t know quite when it happened, but some time in the last decade or so Seattle decided it was losing too much ground to Portland, Oregon, in the Crazy Liberal Weirdness Department. Sure, Seattle brought us grunge rock (music to invade Poland by, as someone once put it) and the 2000 WTO protests that were the early prototype of today’s “antifa resistance.” But Portland got the TV show! We’ve »

When Liberalism Collides with Reality

Featured image Poor Connecticut. The nutmeg state didn’t have an income tax for a long time, but finally adopted one in 1991 because of course the state couldn’t possibly balance its budget without one. And naturally the rate has been slowly rising. The state went from three tax brackets to seven two years ago. But guess what? Income tax revenue collapses; Malloy says taxing the rich doesn’t work HARTFORD, Conn. (WTNH)–Connecticut’s state »

Donald Trump Asks a Good Question

Featured image Yesterday the Democrats organized Tax Day rallies across the country, where lefties demanded that President Trump release his tax returns. They generally weren’t well attended, but they achieved their principal purpose, which was to generate headlines in friendly newspapers–i.e., all of them. It was a coordinated national effort, so President Trump asked the obvious question: “Someone should look into who paid for the small organized rallies yesterday. The election is »

Rachel Maddow proves Donald Trump paid $38 million in taxes in one year

Featured image Last October, the New York Times breathlessly published a story called “Donald Trump Tax Records Show He Could Have Avoided Taxes for Nearly Two Decades, The Times Found.” I had always thought newspapers existed to report things that happened, not things that could have happened. But Election Day was near, and Trump had to be stopped. Hence, the Times’ hit piece. It turns out that, far from dodging tax liability »

Fuse Lit on the Pension Time Bomb, and the Next Tax Revolt?

Featured image One thing conspicuously missing from both party conventions is any talk of government debt and deficits. Even Democrats usually acknowledge grudgingly that our deficits are a time bomb waiting to go off, though this is usually in service of their Great White Whale obsession, which is to raise taxes on Great White Males. So it is with considerable interest that I note the increasing visibility of the real-time collapse of »

All Those Years, Prince Was Working for the Government

Featured image Prince probably never thought of himself as a public employee, but it turns out that the main beneficiary of his decades of hard work will be the government. The Heritage Foundation’s Rachel Greszler explains: Although Prince has one full sister and five half-siblings, Prince’s family members will not be his biggest heirs. Both the federal government and Minnesota’s state government will assess so-called “death taxes” or estate taxes on Prince’s »

Liberalism for dummies

Featured image William Voegeli seems to understand modern left-liberalism from the inside. In Never Enough: America’s Limitless Welfare State (2010, foreword by Steve Hayward), Voegeli explains why contemporary liberals can never tell you when you have paid your “fair share” of taxes. It’s a mystery that had always troubled me. Well, they want it all. I wrote about the book in “An old argument revisited” and elsewhere. Bill’s preface to the paperback »

Does Tax Policy Matter?

Featured image The think tank that I run, Center of the American Experiment, released a paper today titled “Minnesotans on the Move to Lower Tax States 2016.” We held a press conference at Minnesota’s Capitol building to announce the report’s release, and it has garnered considerable coverage on television, radio and in newspapers across Minnesota. The report, based entirely on Internal Revenue Service data, found that in 2014 Minnesota lost a net »

Should Conservatives Abandon the Supply Side?

Featured image The iconic moment for conservatives of my generation was the Reagan tax cuts of the early 1980s. Those supply-side cuts fueled a boom whose ripples are still felt today, and refuted liberal economic theories once and for all. Much has happened since then; taxes have gone up and down. But a common denominator is that whenever federal income taxes have been cut, they have also been made more progressive. The »