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Economy

Paul Ryan says President Trump is warming to the idea of breaking a campaign promise: Addressing entitlements

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Paul Ryan says President Trump is warming to the idea of breaking a campaign promise Addressing enti

It looks like Republicans will be getting their tax cuts, and while they may not be the true tax “reform” many conservatives wanted, they’re generally being accepted as a step in the right direction. One of the biggest challenges to the cuts, the portion that made retiring Senator Bob Corker the lone GOP dissenter, is that it will balloon the debt and increase deficits. Speaker of the House Paul Ryan indicated they will be addressing the biggest contributor to deficits by going after entitlements next year.

This has been a topic the GOP has avoided since Trump won the election. He ran on promises to keep entitlements where they are, helping him win the Republican nomination and the presidency itself by appealing to recipients of Medicare, Medicaid or Social Security. The Speaker says he’s making progress in private talks with the President to open him up to the potential to break that particular promise.

“I think the president is understanding choice and competition works everywhere, especially in Medicare,” Ryan said.

Republican lawmakers on Capitol Hill are now starting to echo the narrative they’d been embracing before Trump won. Now that tax cuts are on the verge of becoming a reality, they’ll need to address ways to pay for those cuts. The easiest way to do it is to slash entitlements, but the hard part will be selling the idea to constituents ahead of the 2018 election. There are already fears of losing majorities in both the House and Senate following legislative failures and presidential gaffes. Going after entitlements now could doom them in the midterm elections if they’re unable to make a compelling case.

My Take

The biggest weakness of the GOP is selling their ideas. They are good at opposition to Democratic ideas and rode the backlash against Obamacare to win the House in 2010, Senate in 2014, and White House in 2016. To keep them, they’ll need to make people understand the benefits of cutting spending. Then, they’ll need to sell them on the reality that entitlements are the best (and perhaps only) way to make budget cuts happen.

The only good news for them is that the largest emerging voting block, millennials, may be the key to selling entitlement reform. If they can demonstrate two things: the need to embrace a federalist approach to welfare as they’re doing with food stamps and the fiscal risks they’ll put us all in if they don’t reform entitlements, they have an opportunity to get millennials on board. If they don’t do these two things, entitlement reform may be the election dagger if they pass it or the reason Democrats will give to vote for them if they don’t pass it. By putting it on the table, they have to win the messaging game or they’re toast whether they pass it or not.

Further Reading

Ryan pledges ‘entitlement reform’ in 2018

http://thehill.com/homenews/house/363642-ryan-pledges-entitlement-reform-in-2018Health-care entitlements such as Medicare and Medicaid “are the big drivers of debt,” Ryan said, “so we spend more time on the health-care entitlements, because that’s really where the problem lies, fiscally speaking.”

Ryan said he’s been speaking privately with President Trump, who is beginning to warm to the idea of slowing the spending growth in entitlements.

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2 Comments

2 Comments

  1. Steve

    December 7, 2017 at 2:49 pm

    It’s simple: if they reduce my Social Security I’ll become a voting Democrat.

  2. Terry McDonald

    January 25, 2018 at 10:26 pm

    Take all people off Medicare that NEVER paid into it. That includes immigrants, both legal and illegal. Replace ALL monies that have illegally been taken out and used for other things. Separate Medicare from Medicaid… not fair to lump together. Do the same for Social Security… repay what has been “borrowed” from these funds. SEPARATE all welfare programs from Medicare and Social Security! Then HONESTLY report on these programs. STOP calling Medicare and Social Security payouts ENTITLEMENTS! Additionally, reformation needs to take place regarding COLA. It is totally outdated and unfair. You are flirting with a very big voting block who actually VOTE. Do you really want to test them?

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Economy

Thomas Sowell makes a clear point about Medicare-for-All

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Thomas Sowell makes a clear point about Medicare-for-All

How was the left able to take heat away from their Medicare-for-All proposal, and more specifically the estimated $32 trillion price tag over a decade? They tripled down with the Green New Deal, which some estimate would cost upwards near $100 trillion.

So, the price tag of the Democrats’ desired replacement for utterly failing Obamacare is to take current government control over healthcare and put it on a regiment of steroids and methamphetamine. When you’re going through Hell, keep going, I suppose.

But all of this could be alleviated if voters and politicians took a moment to think about the prospects of Medicare-for-All logically. Let’s erase, for a moment, the Utopian notion that taxing rich people extreme amounts will give us enough money to make healthcare free for everyone while also improving the quality. That’s the goal, right? Cheaper, better healthcare is what most people want. Conservatives believe it’s best to pull government administration out of the equation and put it all on a competitive capitalist model that has worked for nearly every other industry for over a century. Hyper-leftists want to add more government control.

Conservative commentator Thomas Sowell has some thoughts on the matter. One in particular can be wrapped up into an eloquent quote that should be ideological checkmate allowing us to win the healthcare debate.

“It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it.”

Of course, our version of checkmate requires common sense, logic, and basic math skills. These attributes aren’t as readily present on the left, therefore they might hear this logic and still think single-payer makes sense.

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Democrats

Bernie 2020, the union: How organized labor is the latest play for primary points

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Bernie 2020 the union How organized labor is the latest play for primary points

When one Democratic candidate goes to the left, the other candidates lurch to match. We’ve seen it in support for the Green New Deal, Medicare-for-All, and super-high tax rates for the rich. We’re about to see it in regards to organized labor as Bernie Sanders’s campaign has become the first group in presidential campaign history to form a union.

My Take

Whether this was a decision by campaign leadership to demonstrate their boss’s leftist credibility or of they’re simply being the leftists that they are, we can’t be sure. In fact, we’ll almost certainly never know. Either way, it’s done and now all of the other leftist campaigns have to respond.

Expect every major campaign team to unionize soon. It’s not because it will make them more effective. It won’t help them get better benefits or retain their jobs for longer term since the organization will fundamentally change following the election. All it will do is allow them to make the claim they’re so pro-union, they’re willing to accept the lost productivity associated with organized labor.

This is quickly becoming the most symbol-driven primary election season we’ve seen in decades, perhaps ever. It would all be very entertaining if it weren’t so dangerous to the American psyche.

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Economy

Busted: The myth that old 90% tax rates actually worked

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Busted The myth that old 90 tax rates actually worked

One of the favorite tactics for the new Democrats to push their idea of super-high taxes on the rich is to invoke Dwight D. Eisenhower. They say even a Republican President once believed in high taxes on the rich, a time in which the highest tax bracket was 90%.

John Stossel an economic historian Phillip Magness debunked the myth that rich people actually paid the extreme tax rates of the past in this video. As usual, Democrats have selective memories when it comes to anything they want to press.

Back in the days of high taxes for the rich, there were enough loopholes intentionally left open for them to cut their actual tax rates tremendously. According to Magness, the actual average rate paid by millionaires back then was around 41%. With fewer loopholes available today, the highest tax bracket of 37% is close to what is actually paid by those earning the most money. But what would happen if the high tax rates of the past were combined with the lack of loopholes of today? We’d have an economic collapse that would hit so swiftly, there’s no way Democrats would have time to react.

The bottom line is this: the best producers in America will no longer have an incentive to produce here. Some would leave. Others would simply stop producing. It’s easier for them to reduce their revenue and live off their accumulated riches than to earn money for the government to take. Even at a “more reasonable” 70% tax rate, as proposed by some of the top Democrats today, the increase would be too great for most wealthy Americans to bear. We saw this play out in France. We could see it play out here if the Democrats get their way.

Fighting the talking points of the left is one of the biggest reasons conservative sites like NOQ Report exist. We call on those who want to help prevent the rise of socialistic ideas to contribute to us; as a news outlet that is crowdfunded, you’ll notice a conspicuous lack of spammy ads that you find on other sites. This is intentional and allows us to reach a broader audience with the conservative truth.

Democrats love pretending like raising taxes on the rich will solve all of our problems. They know it’s not true, but it certainly sound good in campaign speeches. This isn’t really a tax grab. It’s a power grab designed to confuse the people.

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