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Early responses to the tax cuts from companies across America are demonstrating positive movement. Some companies are already promising to raise wages or increase bonuses. Others will be more capable of hiring than they were before. Despite outrage from big government proponents and their mainstream media proxies, things are already starting to look up for the economy and a majority of Americans.
Unfortunately, this is a case of “something is better than nothing.” We needed tax cuts. While much of the focus has been on how individuals and families will be directly affected by the bill, the real boon for many Americans will come in the indirect effects of the corporate tax cuts. These have been, by far, my favorite component of the bill. Everything else is just a matter of redirecting of funds and sources.
I went into a little Tweetstorm last night explaining why I did not support the tax plan. It can be broken down into two problems: the bill is not true tax reform and they haven’t done nearly enough to rein in government spending. Until those two things are done, every other improvement on the progressive tax system is just a temporary fix.
For the record, I did not support the GOP tax plan because it's not real tax "reform." It's like taking a 1989 Pontiac Grand Am and replacing the transmission. Better? Yes. Good? No. 1/
— JD Rucker (@JDRucker) December 21, 2017
The GOP didn't try to reform the system to a flat tax, fair tax, neutral tax, trickle-up tax, or any of the various real reforms that have been suggested. This is not reform. It's redirection of funds, cuts in some good places, and ignorance of other essential ones. 2/
— JD Rucker (@JDRucker) December 21, 2017
More important than committing to reform is the fact that they haven't attempted to make the cuts necessary to pay for the plan. They're hoping growth will cover it, but that's a huge gamble. I don't even want to think about the consequences if the economy is hit by disaster. 3/
— JD Rucker (@JDRucker) December 21, 2017
I've said before the key to limiting government and ensuring our freedoms and prosperity are protected is to engage in a three-pronged attack: budget, bureaucracy, and power. They've made moves against bureaucracy, but budgets are skyrocketing and DC power is being amassed. 4/
— JD Rucker (@JDRucker) December 21, 2017
The corporate tax cuts are the best part of the plan, as I've noted before, because high corporate taxes are paid by the people, not corporations, in the form of fewer jobs, lower wages, and increased prices for goods and services. 5/
— JD Rucker (@JDRucker) December 21, 2017
We're seeing this demonstrated in dramatic fashion as multiple huge corporations are announcing bonuses, more jobs, and wage increases. I expected the responses to be fast, but what we've seen so far is impressive. Capitalism works because competition drives the economy. 6/
— JD Rucker (@JDRucker) December 21, 2017
Kudos to the GOP. I've been critical, but they deserve a little credit here. It's not ideal. We need to dump the '89 Grand Am and get a tax and spend system capable of driving our economy across the spectrum. Now, we need the #FederalistParty to rise. 7/7
— JD Rucker (@JDRucker) December 21, 2017
The incremental ebb and flow of national government in America keeps us in a cycle of mediocrity. We gain a little here, lose a little there. We need to limit government, particularly in DC, and make them work within their means.
As long as DC continues to sidestep the major spending problems we have in this country from waste to entitlements to overreach, any positive move will be countered by negatives. America needs a party to take over that embraces the restraints on government laid out in the Constitution. It’s time for the Federalist Party to rise. If we don’t, we’ll continue in this cycle of ups and downs that act as camouflage for an ever-expanding government.
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