One million Americans are getting pay increases because of the tax reform package signed into law in December, according to Americans for Tax Reform.
Memorable lines from the governor’s second address to the state suggest that he will once again oppose increases in taxes, fees and spending while promoting skilled jobs and affordable housing.
If policymakers are going to “make American great again,” then they need to get rid of those policies that are the very antithesis of American principles.
In general, an overwhelming majority of Americans’ will pay less in federal taxes. So how will you fare under the GOP tax plan?
Aside from the caterwauling on the left side of the House and predictions of our moon exploding and destroying all life on the planet because taxes might be cut, reform of one kind or another is inevitable. Why? Because it’s not really the revenue side of the equation that’s the bulk of the problem. It’s the spending.
Americans deserve to know the truth about the proposed tax reform packages. There are several myths going around about what the proposed plan would do. Here are a few of them, and why they’re wrong.
There is the general lesson to be learned that when you reduce the barriers (such as cost) to doing business, you get more activity that generates more revenue. And, when you increase those costs you get less of both.
Democratic-controlled states are the ones most likely to get hit the hardest from the bill, but not because of the changes to the tax code but because of high tax rates and regulations the states’ legislators have imposed over the course of decades.
Vermont’s personal income tax revenues are down $6.41 million below forecasts. We have to ask how can this be given that the national economy is booming with 3 percent or better growth for three straight quarters, the stock market is at record highs, and Vermont’s unemployment numbers are at record lows.
At a public forum hosted by the Bennington County Republican Party last month, a bipartisan panel agreed that tax reform and the economy were the right focus for Vermont going into 2018.
The House and Senate have now each passed different versions of Tax Cuts and Jobs Act. The bills now head to a conference committee where a unified bill will be crafted. Here are some of the major differences you need to know about.