Author Topic: Report: House Republican Tax Plan Would Create 1.7 Million Jobs  (Read 1177 times)

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rangerrebew

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Report: House Republican Tax Plan Would Create 1.7 Million Jobs
Proposal would boost long-run GDP by 9.1 percent, increase wages by 7.7 percent
 

AP

BY: Ali Meyer   
July 6, 2016 4:59 am

The House Republican tax reform plan introduced by Speaker Paul Ryan (R., Wis.) would create 1.7 million jobs, increase the nation’s GDP, and increase after-tax income for all Americans, according to an analysis from the Tax Foundation.

The plan would simplify the tax code so that it could fit on a postcard, and lowers marginal tax rates on wage, investment, and business income. It also broadens the tax base, lowers the corporate income tax rate to 20 percent, and eliminates federal estate and gift taxes.

http://freebeacon.com/issues/report-house-republican-tax-plan-create-1-7-million-jobs/

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« Last Edit: July 06, 2016, 01:32:30 pm by rangerrebew »

rangerrebew

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Re: Report: House Republican Tax Plan Would Create 1.7 Million Jobs
« Reply #1 on: July 06, 2016, 01:33:49 pm »
If it is that good for America, it will never make it into law.

Offline RetBobbyMI

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Re: Report: House Republican Tax Plan Would Create 1.7 Million Jobs
« Reply #2 on: July 06, 2016, 01:47:07 pm »
A congressional authorized tax plan has never done anything except increase or decrease (usually the former) taxes.  Taxes or government doesn't great jobs, unless it get bigger.

Although the Congress has the authority to tax under the constitution to fund the federal government, it is the 16th Amendment that has let the government get bloated without any check and balances.  The 16th Amendment, which authorizes income taxes, needs to be repealed in its entirety.  THEN there would be no need for the IRS.  Without the 16th Amendment, the Federal Government would have to tax the states to get funding for federal government operations, which was the original intent of the founding fathers.

"The origin of the income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress on July 2, 1909, and ratified February 3, 1913; however, its history actually goes back even further. During the Civil War Congress passed the Revenue Act of 1861 which included a tax on personal incomes to help pay war expenses. The tax was repealed ten years later. However, in 1894 Congress enacted a flat rate Federal income tax, which was ruled unconstitutional the following year by the U.S. Supreme Court because it was a direct tax not apportioned according to the population of each state. The 16th amendment, ratified in 1913, removed this objection by allowing the Federal government to tax the income of individuals without regard to the population of each State. For additional information on taxation in the United States, see the section on taxes on the web site of the U.S. Department of the Treasury." -- http://www.loc.gov/rr/business/hottopic/irs_history.html

Hmmm...1861, the first year of the first Republican administration.  Go figure!
« Last Edit: July 06, 2016, 01:49:05 pm by RetBobbyMI »
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"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.� ? Laurence J. Peter, The Peter Principle
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Online andy58-in-nh

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Re: Report: House Republican Tax Plan Would Create 1.7 Million Jobs
« Reply #3 on: July 06, 2016, 02:11:11 pm »
Cue the stock Democrat response in 3....2.....1.... "It's a giveawaaaaaay to the riiiiccccchhh!!!!!"
"The most terrifying force of death, comes from the hands of Men who wanted to be left Alone. They try, so very hard, to mind their own business and provide for themselves and those they love. They resist every impulse to fight back, knowing the forced and permanent change of life that will come from it. They know, that the moment they fight back, their lives as they have lived them, are over. -Alexander Solzhenitsyn

Online Bigun

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Re: Report: House Republican Tax Plan Would Create 1.7 Million Jobs
« Reply #4 on: July 06, 2016, 02:20:57 pm »
Wonder what would happen if they just stopped tinkering around the edges of the income tax and past the Fairtax instead!

http://fairtax.org
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Offline RetBobbyMI

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Re: Report: House Republican Tax Plan Would Create 1.7 Million Jobs
« Reply #5 on: July 06, 2016, 03:01:53 pm »
Wonder what would happen if they just stopped tinkering around the edges of the income tax and past the Fairtax instead!

http://fairtax.org
How about NO tax, from the Federal government?  Repeal the 16th Amendment and abolish the IRS.  If they need money, which I acknowledge they do (to some extent), then tax the states equally in proportion to their population.  Let the states decide how to apportion those taxes or reject the federal governments power.  THAT was the founding intent of the constitution.
"Life is tough, but it's tougher when you're stupid."  -- John Wayne
"Talk sense to a fool and he calls you foolish.� ? Euripides, The Bacchae
"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.� ? Laurence J. Peter, The Peter Principle
"A stupid man's report of what a clever man says can never be accurate, because he unconsciously translates what he hears into something he can understand.� ? Bertrand Russell, A History of Western Philosophy