Making his debut this week in Reason, CRS founder and president Jonathan Bydlak points out that Congress seems on the verge of making a serious mistake as they push for changes to the tax code — forgetting the reason we’re taxed so much to begin with.
The one-page outline for President Trump’s long-awaited plan… reads like a wish list for conservatives: Corporate tax rates slashed, the top income tax bracket lowered, an Obamacare tax on investments repealed. For all the talk of how the rich stand to gain, the plan doubles the standard income tax deduction helping a majority of Trump’s working class base.
But there’s a problem with this plan, a problem that has long plagued reformers in the two controlling parties: The failure to put a stop to the spending that necessitates higher taxes.
Read the rest, including some commonsense suggestions for cuts, here.