(The bill would) cut the corporate rate ... in a year: Like the House bill, the Senate bill would cut the corporate tax rate to 20% from 35% today.That's it. Everything else is window dressing to me. For me, it's all about jobs and lowering the corporate tax rate would encourage businesses who have left to come back home. No, the pennies-per-hour-labor-cost Levis factories in Cambodia won't come back, but others would. I saw one estimate that said cutting the corporate tax rate would increase household income by $3500 from the jobs that would pour back to America. I can believe that.
Clarity. Another benefit to cutting the corporate tax rate dramatically is that it would test the conservative principle that private businesses drive the economy, not the state. Is what we believe true? Well, with this bill, we'd see. It certainly makes sense to me. The government raises funds from profits, both corporate and personal. If you punish businesses with regulations and taxes, they will take their profits elsewhere.
Another component to the clarity would be to reveal whether or not the Republican Party believes what it's been peddling all these years. Lower taxes, lower regulations, those are the keys to prosperity. We discovered with the ObamaCare repeal that John McCain has no convictions and is only there for the cameras and adulation. How about the rest of them? Can we get 50 votes for this great experiment in conservative foundational principles?
Expert Opinion. Our tax accountant son loves the bill. He said he can't believe how good it is in simplifying things and getting rid of ridiculous rules. He's apolitical as far as I know, so his take on it is simply professional. He's a serious dude and I respect what he has to say.
Trump is a Conservative. I don't know where the Trump-haters on the right go after this. Mountains of originalist judges appointed, slashing regulations at every turn, a sincere attempt to end the catastrophe of ObamaCare and now this. What the heck do you want? So the guy has a mouth on him like a New York City barroom blowhard. Enough already, we get it. He is turning out to be the most conservative president since Reagan and still they carp and whine.
|It will probably come down to McCain. Does he believe in his stated principles more than he loves the adulation of the press? We'll see.|