After President Donald Trump’s tax plan passed Congress, the usual suspects wailed and gnashed their teeth, screaming about how the cuts would impoverish the nation. It’s not surprising considering their simplistic ideas on economics.
However, the government just broke its record for revenue for the month of January and ran a surplus for the month. Why, it’s almost like the tax plan worked.
In this case, it created growth for private industry which translates to increased revenue for Uncle Sam. Employers could pay their workers more, so they did. It’s the best way to keep your best and brightest, after all.
This is how governments should create more revenue. You don’t demand a higher percentage of what people earn — you make it easier for them to create. Even though some will still gripe at what the government gets, it won’t be nearly as loud as the griping when taxation claims a larger portion of the same wage.
Not only that, but this path ultimately leads to a stronger economy. More money circulating means more jobs as employers step up to meet the public’s demand for goods.
Please, tell me how this is a bad thing?
Oh, yeah, it’s not. Had this been President Obama’s plan, progressives would have adored the brilliance of it. They’d talk about how Obama really understood the people, and that’s what this whole plan was about.
Yet because it was President Trump’s plan, this tax deal will inevitably lead to boxcars and death camps or something.
Unfortunately, the early data doesn’t support that on any level at all.