The GOP has opportunities that haven't knocked on their door in a long time. I hope they don't blow it!
Can Trump seize this once-in-a-lifetime opportunity to fix the tax code? ...The bottom line is that President-elect Donald J. Trump has a once in a lifetime opportunity to radically reform the tax code, like President Ronald Reagan did in the ‘80s...
...Americans have not experienced a compensative rewrite of tax laws since the Reagan Administration. When Reagan worked with Congress to pass his tax rate reductions, he lowered the top rate from a staggering 70% to 28%. These tax reductions lead to massive growth in the economy and a Trump tax cut would also lead to significant growth.
It is important to note that the most self-destructive provision in federal tax law, the corporate tax rate, is the highest in the free world at 35% (39.1% if you include state corporate taxes). That rate needs to be slashed to stop the outsourcing of jobs to nations with lower corporate tax rates. Trump wants to slash the rate to 15% — a rate that would greatly help in stemming the flight of corporations to countries that have lower corporate tax rates.
President Donald J. Trump should write his own bill that cuts the tax rates for both businesses and individuals, cleans up crony provisions, and makes the code much simpler...
...Trump should not negotiate against himself, and he should push all of these ideas in his tax bill to provide radical, pro-growth tax reform that will end up being the cornerstone of his legacy...
- See more at:
https://www.conservativereview.com/commentary/2016/11/can-trump-seize-this-opportunity-to-fix-the-tax-code#sthash.KqRTDpcj.dpuf