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There has been much talk in recent weeks of marginal income tax rates. Although the far-left have, talked about a return to high marginal income tax rates for several years, Rep. Alexandria Ocasio-Cortez (D-N.Y.) recently renewed the conversation. The “democratic” socialist has called for a massive wealth redistribution, with a top marginal rate of 70 percent.
When Americans talk about politics, they tend to focus on what’s happens the president’s latest tweet or incendiary comment during a speech or what’s happening in Congress. Most, however, completely ignore what’s happening in their state governments, which may be more impactful to their lives that most debates that happen on the House and Senate floors.
A coalition of conservative leaders on Wednesday released essential principles that must guide any potential path forward for Congress to repeal Obamacare. The group agreed on a set of principles that Congress must adopt in any health care legislation considered later this year or in the future.
Opponents of the Tax Cuts and Jobs Act, which delivered much-needed tax relief to the middle class and business owners large and small, have complained that the law is contributing to the increase in expected budget deficits over the next ten years. Certainly, budget deficits are a serious concern, and Congress has shown no interest in addressing the problem.
FreedomWorks President Adam Brandon released the following statement on news that the Commerce Department will recommend slapping tariffs on steel and aluminum:
One premise of modern-day “progressives,” is that taxes don’t have much influence on how much and when people invest, how much they work and save, or where they live. Just Google “Taxes don’t matter” and you will find scores of academic studies and news stories assuring us that taxes have little or no effect on behavior.
Recent reports are showing the benefits of tax reform for many industries in 2018, including top-of-mind industries and those not as frequently found on the front page. FreedomWorks Vice President of Advocacy Noah Wall commented:
The Senate-passed tax bill is a policy triumph that will provide a shot of performance enhancing drugs into the veins of the economy. It’s not perfect, but the combined effect of cutting business tax rates, eliminating the state and local tax deduction, and repealing the ObamaCare individual mandate tax, means we are at the precipice of the biggest conservative policy victory since the Reagan years.
Washington is buzzing right now with talk of tax cuts. There’s good and bad in what the Republicans are proposing, and odds are that what looks and feels like tax reform will be signed into law by President Trump before 2017 closes.
FreedomWorks Foundation, American Legislative Exchange Council, Tea Party Patriots and Committee to Unleash Prosperity in partnership with a coalition of conservative organizations and prominent individuals, launched the Save Our Country Task Force.