My friend from the Cato Institute, Chris Edwards, outlines some of the areas where Republicans have failed to provide adequate messaging on what will be one of the largest federal tax overhauls in decades. Edwards writes that vague reporting on the bill from various groups who have analyzed it, the bill’s “reforms are impressive and promise to lift all boats in coming years with a rising tide of growth.” Edwards continues:
The Democratic class warfare will continue even after President Trump signs the bill, and that will create two big problems. The first is that the Democrats will probably pursue a long-term campaign to repeal the pro-growth elements of the bill, as they did with the George W. Bush tax cuts. The second is that if Republicans attempt to cut spending in the coming months and years, the Democrats could make political headway by complaining that tax cuts for the rich led to benefit cuts for everyone else.
So Republicans need to counter biased claims about the tax bill’s distributional effects. In reality, middle-income households will receive the largest tax cuts, as a percentage of what they currently pay, under both the House and Senate bills. But that fact is not apparent in reports by the three groups calculating detailed statistical results: the liberal Tax Policy Center (TPC), the congressional Joint Committee on Taxation (JCT), and the conservative Tax Foundation.
Read more here.
E.J. Smith - Your Survival Guy
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