Monday, November 20, 2017

Real Tax Reform

The GOP crows its tax reform plan of $1.5 trillion over a decade.  Sound large?  Not really.  Over the same period of time the federal government will spend some $53 trillion.  Or, to put this in perspective, the tax plan is less than 3% of total spending.  Also note, the government will run up another $10 trillion of debt on top of the $20 trillion of debt that already exists.

Real tax reform needs to come from real spending reform.  A man who has been a CFO of two major corporations remarked that any CFO worth his salt can find ways to cut spending 5% before the morning’s coffee - and that is in a healthy corporation.  That percentage jumps to 20% without having to make any hard decisions when the attention is turned an inefficient, ineffective, and wasteful government.

Now 20% on $53 trillion is nearly $11 trillion . . . or close to 10 times the number proposed by the GOP.  Now that would be real tax reform that would put real money in people’s pockets, and towards the repayment of the debt.

The call to action here is to contact your representatives to tell them $1.5 trillion is a good down payment, and then to proceed to real tax reform!

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