President Trump’s team kicked off its tax reform push last week. And yes, it’s a big deal, but I have to set the record straight here.
While every hack covering the rollout with a microphone, laptop and Twitter account thinks he’s a tax expert or that he knows more than you do about fundamental economics, trust me — he does not.
And that is exactly why so many in Washington miss the point. Those well-coiffed, mostly self-preserving politicos care more about pomp than everyday Americans’ circumstances.
The best way to fix the US mess of a tax code is to begin with straight across-the-board cuts as the front, center and rear of the entire plan.
Putting forth a clean-cut bill is the best way to get this through without the politicians screwing it up.
Our corporate rates are the highest in the developed world, at 35 percent. Cut them to 20 percent. That should be enough to change some boardroom minds about staying here, investing here and freeing up capital to hire here.
Cut all the personal rates by 25 percent straight down the line, a tax cut for everybody.
People now paying 39.6 percent will pay 29.7 percent. People now paying 25 percent will pay 18.75 percent; people now paying 10 percent will pay only 7.5 percent.
The point of the “Keep It Simple Plan” is to prevent the creatures of the DC swamp from wrapping their tentacles around it and “creating policy” with our money.
Washington is always looking to reach into your pocket — always.
Quite frankly, that’s one of the things I find so appealing about Trump — he ran and won the presidential election by spending about half what the favorite, Hillary Clinton, spent.
The “Keep It Simple Plan” might just do this country some real good, and hey — even if the deficit grows at least we will all have more of our own money in our own pockets!