I wasn’t going to watch the debate last night. In fact, I had written another piece in place of my usual debate post-mortem. But I got bored with my video game and decided, “What the hell?” My wife was watching it in the Arizona Room, so I trotted in and sat down. I guess I missed the shellacking Trump got (and rightfully so) over his lewd comments about women. But they quickly shifted away from that, and when it came to the tax question, I thought it was very interesting.
Hillary Clinton lied through her teeth.
Americans For Tax Reform have listed the taxes that Hillary will impose if she’s elected president (and IF she can get them through congress). I won’t list all of them here because frankly I try to keep this to about 500 words per day. It would take a LOT more than that! Suffice to say, there are ten new taxes that Hillary would impose starting with a TRILLION dollar income tax increase. She says she wouldn’t increase taxes on anyone making less than $250,000, which is the same thing Obama said. Then he turned it off and raised taxes on EVERYBODY. Hillary is going to do the same thing. In fact, if you die, you’re going to owe taxes. If you buy a gun, you’re going to owe a LOT of taxes. If you drink soda, you’re going to pay new taxes. If you sell stock or have an IRA or 401k, you’re going to pay a lot more in taxes.
The end analysis is, there isn’t one single American that is going to escape with paying less taxes under Hillary’s watch. Yes, she’s right when she says that Trump cutting the corporate tax may increase the deficit IF there is no further growth in the economy. But as we have learned throughout the last 45 years, when you cut taxes, be it income taxes, or corporate taxes, you usually get MORE money, not less because you allow those who would pay more in taxes to go out and actually make more money. It’s an interesting scenario…so let me explain it so my liberal friends out there will understand.
If you’re a millionaire, or you make more than $250,000 a year, the chances are very good you really don’t need to spend all $250,000 to live. So, if you can avoid a big tax increase by earning less than that figure, you do so. You just live on less for a while. Or you do what the folks in congress do; they have trusts that they tap into, which doesn’t affect their income. See, when you lower taxes, the people at the top of the salary structure are free to go out and make more money. They aren’t concerned with tax savings, so they earn as much as they can, which is significantly more than what they need. They may not spend it all…they may invest a lot of it, in their workplace, in other workplaces (through stock purchases), or they may start another business and hire people. That all helps the economy, which in turn brings in more money. THAT is the thing liberals don’t understand about how lower taxes bring in more money!
And that is exactly why Hillary Clinton’s tax plan is going to screw up our economy worse than Barack Obama did!
Carry on world…you’re dismissed!