Here’s the Republican Tax Reform Mission
From the Chair – As a pass along from the NC GOP, below are some helpful talking points about the President’s Tax Reform plan. Please feel free to share this with your on-line friends and acquaintances The left has the mainstream media to sell their view. We mostly only have us. That’s enough if we work at it. Thanks to those who strive to be ‘Working Republicans.’
From President Trump and the Republican Team in Washington-
- We will cut taxes for hardworking middle-class families, and will not shift the tax burden from higher-income households to lower-or middle-income households.
- We will create a larger zero tax bracket by roughly doubling the Standard Deduction. The first $12,000 of income for individuals and $24,000 for couples will be tax-free.
- Seven tax brackets of taxable income will be consolidated into three – 12%, 25%, and 35%.
- We will significantly increase and expand the Child Tax Credit.
- We believe the most important investment our country can make is in our children.
- We will repeal the Death Tax that has hurt so many family farms and ranches.
- The Committees will work to add additional middle-income tax relief.
We will end special interest tax breaks that primarily help the wealthy.
- We will repeal personal exemptions, most itemized deductions, and other special interest tax breaks, but retain incentives for home mortgage interest, charitable giving, retirement, education, and work.
- The overwhelming majority of Americans will be able to file their tax return on a single page without having to keep receipts or track endless paperwork.
- We are giving hardworking Americans their time and money back – they deserve it.
- We will cut taxes on American businesses to restore our competitive edge and create more jobs and higher wages for American workers.
- We will slash the rate for C-corporations from 35% to no higher than 20%.
- We will cap the top tax rate for small businesses (pass-throughs) at 25%.
- Businesses will be able to deduct 100% of the money they spend on capital investments for at least the next five years.
- This will empower manufacturers to buy the heavy machinery they need to grow and thrive in America.
- We will get rid of special interest tax breaks for big companies, but retain incentives for research and development and low-income housing.
- We will give our workers the level playing field they deserve – and they will win, because if the fight is fair, no one on earth can beat the American worker.
- The current system punishes companies for doing business in America and encourages them to move to other countries – it is time to bring them home. This “Offshoring Model” has been disastrous for American workers and families. Our “American Model” will reduce the burdens on American companies and encourage them to do business in our country. We will stop penalizing companies that bring wealth they have earned overseas back to America. By moving to a “Territorial System,” companies will no longer have to pay additional taxes when they bring profits back home. Foreign profits already accumulated offshore will be subject to a low, one-time tax. The money will come flowing back to America.
This is not a perfect plan. Nothing good that is attempted in a nation of 321 million independent souls ever will be. As they strive toward realistic tax reform, please help our Republican majority dodge the artificial expectation of perfection pushed by antagonists who have absolutely nothing better to offer.
Then there’s that other point – the bigger the bureaucracy, the more dangerous it becomes. Approximately 100,000 IRS employees operate out of a tax code that is roughly 75,000 pages long. We can have big government or big people – never both…
“The perfect is the enemy of the good” Voltaire