The 2017 Tax Cuts and Jobs Act (TCJA) remains controversial, with public opinion evenly split and many Democrats campaigning on repeal. However, the Democratic critique of the tax cuts has grown increasingly incoherent. The party excoriates the “tax cuts for the rich” while trying to tilt them even further to the wealthy. Democrats slam the deficit effect of the tax cuts while working to worsen budget deficits. In addition, they erroneously describe the law as a “middle-class tax hike” while proposing policies that would truly raise middle-class taxes.
Brian Riedl is a senior fellow in budget, tax, and economics at the Manhattan Institute
July 12, 2018, 11:40 AM EDT
April 16, 2018, 10:09 AM EDT
Let the political bloodbath begin.
April 11, 2018, 2:36 PM EDT
In the Washington Post, a distinguished group of liberal economists argues that entitlements are not chiefly to blame for the coming deluge of debt. Specifically, Martin Neil Baily, Jason Furman, Alan Krueger, Laura D’Andrea Tyson and Janet Yellen – all former Democratic chairs of the White House Council of Economic Advisers – dispute a group of Hoover Institution economists who had earlier shown that long-term deficits are determined by escalating entitlement program costs.
April 5, 2018, 12:05 PM EDT
President Trump – incensed by the 2,232-page, $1.3 trillion monstrosity of an omnibus appropriations bill that he just signed into law – has asked lawmakers to provide him with a line-item veto, which would allow him and future presidents to veto individual spending and tax provisions within larger bills.
March 23, 2018, 11:02 AM EDT
And not a single lawmaker has read it.