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Author Archives: Jim Musser
The tax reform plan that Congress is producing will not be perfect. Nothing is…The starting point for any inquiry should be the purpose of the legislation and whether the developing product generally would move the law in the direction envisioned by the legislators. The stated purpose for this tax bill is to simplify the code for most individual taxpayers and reduce taxes for both individuals and businesses in order to spur economic growth. The theory, which has generally proven correct in the past, is that tax cuts lead to economic activities which cause job growth, improve wages, and make society more prosperous on the whole.
In response to the U.S. Senate passing a budget for the next fiscal year, which includes reconciliation instructions to cut taxes, the U.S. House of Representatives will now proceed to the process of crafting tax legislation. Continue reading
Ten years ago, the main concern for the Social Security Trust Fund was that dedicated tax revenues would fall below program costs starting in 2017. That has come to pass. According to the Trustees of Social Security and Medicare, Social … Continue reading
In response to the president’s budget submission in May, the House Budget Committee has produced the 2018 Budget Resolution and reported it to the full U.S. House of Representatives. This is the second step in producing the annual budget for … Continue reading