About this “(multi) trillion dollar tax cut” thingy; First, tax cuts don’t cost anything. Taxes cost us, but cutting taxes saves us money.
That’s not the main point though. The main point is that cutting taxes lightens the ball-and-chain that’s around our ankles, allowing us to invest and produce more, resulting in more income, which in turn increases revenues. Taxing any behaivor reduces the behaivor while incentivising an underground economy (black market) in that behavior.
You might think that taxing something less dynamic, like property values, might be different– that you could actually add up the property values in your district, multiply that by the amount of change in the tax rate, and know exactly the difference in revenue that will result. Simple huh? Well you’d be totally wrong for several reasons. Here in North Idaho we have a whole population of refugees from other states who fled high tax rates in their states, increasing our property values and presumably reducing the values in the areas they fled.
I could barely afford to get new siding on my house and resurface my huge deck, but since it would increase the assessment value, resulting in a higher tax bill, uh, maybe it’s not so important. Not this year. And there is why we have a lot of what I call “Tyvek Houses”. A Tyvek house is one that remains in un-finished condition for decades at a time. They are ugly, and unattractive to buyers, but if you plan to live in your house you don’t care about buyers. You care about the assessed value, because you don’t want to pay out huge sums in taxes year after year, so you don’t want it looking too nice.
You lower the tax rate, and because the punished activity (punished by taxation) becomes more affordable it becomes more common. The result is more tax revenue. M’kay? Reducing rates beyond some extremely low level that we haven’t seen in over 100 years will at some point start to reduce revenues, but in that case we will not only have no use whatsoever for 95+% of what government does today, we’ll have no time nor patience for it.
I needed the first paragraph because there is a plan that could be called a multi-trillion-dollar tax cut. Dramatically slash the income tax rate, and you get trillions more dollars flooding into the treasury. You get trillions more dollars flooding into the country from everywhere too, essentially, because investments in the U.S. (as opposed to investments in other countries) become that much more attractive. Capital, along with the people who own it, moves to where it can be safe and free. Better put it’s; “free and therefore safe”.
The “expert” economists on the left understand all of this perfectly of course, as any kid who ever ran a lemonade stand would. That proves to us that their intentions are not good. If they know that lower taxes will result in a better economy, and that ultra low low taxes will result in a super good economy, and they oppose all tax cuts, well, you figure it out. (hint; they think that America is too big and important already) They want you out in the streets shouting “Eat the rich” while promising to pay for everything in your life through tax revenues. Do you see the blatant contradiction there or has your mind been taken over?
Meanwhile, the Republicans can’t quite bring themselves to explain it, because they’re afraid. That or they have brain damage, but I don’t think it’s brain damage per se.
I say that the American people deserve to have the case made, straight up, what it is that we face, verses what it is that America was meant to be. If the Republicans can’t bring themselves to make the case, we’ll have to take over their stupidshitty, Progressive party and fundamentally transform it from the inside.