Archive for the ‘Taxes’ Category

MY BRUSH WITH PERSONAL DESTRUCTION – STEPHEN MOORE

Sunday, May 5th, 2019

 

If I remember correctly, wasn’t the unsealing of Obama’s opponent’s divorce papers  in either his Illinois or  U.S. Senate race, lead to Obama’s  win over his opponent? Very  Interesting    The sad state of American politics of personal destruction as conducted by the Left.   Nancy
THE WALL STREET JOURNAL
MY BRUSH WITH PERSONAL DESTRUCTION
By Stephen Moore    Mr. Moore is a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks.  He was a senior economic adviser to the Trump campaign in 2016.
May 3, 2019

When President Trump asked me to serve as a member of the Federal Reserve Board, I was honored. I never imagined the storm that would follow. The left and the media instantly launched a relentless campaign against me. Last week a reporter who has covered the Fed for 30 years told me he’d never seen anything like it. On Thursday I reluctantly threw in the towel and asked the president not to nominate me.

I knew that many of my ideas on monetary policy were controversial and outside the box. That’s why the president picked me. My central argument is that economic growth does not cause inflation—an assault on the core belief of the Keynesian economists at the Fed, whose fear of supply-side growth has often misdirected monetary policy, most recently late last year. As someone who worked with Mr. Trump as a senior economic adviser to his campaign, I am thrilled that 3% to 4% growth with stable prices has been achieved, and I believe it can be sustained. I also believe the Fed should stop targeting interest rates and instead focus on a stable dollar by following commodity prices along with other inflation measures as a leading indicator of whether prices are rising or falling.

I was naive. I believed that to be confirmed I would simply need to defend these ideas and my free-market economic philosophy in general. I relished that debate, especially because so many of my harshest critics were completely wrong about the Trump economy.

A majority in the Senate viewed my economic-policy expertise favorably, and my confirmation seemed likely. It helped my case that I had been one of the most outspoken critics of the Fed in December, when it raised interest rates. After a 4,000-point collapse in the Dow Jones Industrial Average, Chairman Jerome Powell early this year backed away from future rate increases and disavowed his December statement that the Fed’s asset sales were on “autopilot.” The market and the economy sprang back to life.

What did me in was not my economic ideas but gutter campaign tactics and personal assaults. I’ve been called an adulterer, a misogynist, a tax cheat, a deadbeat dad, antigay and mentally unfit. A Washington Post editorial warned that I was a “dangerous” pick for the Fed, and a columnist said I could cause a “global financial calamity.” They must imagine I have superheroic powers of persuasion. If appointed, I would have been one of seven Fed governors.

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VIDEO – IS DENMARK A SOCIALIST COUNTRY? PRAGER U

Friday, April 26th, 2019

 

VIDEO – PRAGER U     IS DENMARK A SOCIALIST COUNTRY ?

Apr 22, 2019

1.2m

Socialism has failed across the world – from the Soviet Union and Eastern Europe to China, Vietnam, North Korea and, most recently, Venezuela. So now the left references countries like Denmark as “proof” that socialism works. Otto Brons-Petersen explains why they’re wrong: Denmark is just as capitalist as the United States.

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TRUMP’S ACCOMPLISHMENTS

Saturday, September 15th, 2018

Trump’s Accomplishments

Trump’s Accomplishments

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TAX CUTS ARE WORKING TO STIMULATE GROWTH

Tuesday, July 31st, 2018

 

Here’s a good article full of facts of why tax cuts are working  to stimulate the economy.  Send to your liberal friends (if you have any !)   Nancy
THE WALL STREET JOURNAL

Tax Cuts Bust ‘Secular Stagnation’

Progressive economists said growth was gone for good. Then Trump changed policy

July 30, 2018

Are low taxes key to a booming economy? Their success is harder than ever to deny after Friday’s report that the U.S. economy grew 4.1% in the second quarter, bringing the average quarterly growth rate during the Trump presidency to 2.9%. This explosive growth, and the accompanying spikes in hiring and wages, should finally discredit three popular claims made by opponents of the president’s policies: that tax cuts would blow a hole in the deficit, that corporate tax cuts would serve only rich investors, and that secular stagnation was a valid excuse for the slow growth of the Obama era.

In the first five quarters of the Trump presidency, growth has been almost 40% higher than the average rate during the Obama years, and per capita growth in gross domestic product has been 63% faster. As usual, the largest single beneficiary of faster growth is the government. The Congressional Budget Office reports that faster growth under President Trump has already added $1.3 trillion to the 10-year federal revenue projection, with the CBO’s April economic adjustment alone showing an addition of $1.1 trillion—the single largest growth-driven revenue gain ever reported. State and local governments can anticipate a similar dividend, amounting to as much as $600 billion.

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THE WIPEOUT OF OBAMA’S LEGACY

Friday, May 18th, 2018

 

THE WEEKLY STANDARD

The Wipeout of Obama’s Legacy

  • 4 MIN READ     May 11, 2018

President Obama’s legacy is rapidly vanishing. The decision by President Trump to withdraw from the nuclear deal with Iran is the biggest blow, but it’s only the latest. The elimination of the individual mandate and canceling the yearly bailout of insurance companies have left Obamacare in a precarious condition. Young immigrants whose parents brought them to the United States unlawfully—so-called dreamers—are losing their legal status.

This is historic. Presidents often vow to wipe out big chunks of their predecessor’s legacies. President Eisenhower was going to take on the New Deal. Ronald Reagan targeted the Great Society. Both backed down. Trump, working with congressional Republicans, hasn’t. He’s eager to deflate Obama’s standing and inflate his own.

Obama and Democrats have made Trump’s efforts surprisingly easy. Obama, you’ll recall, succeeded brilliantly in the first two years of his presidency when Democrats controlled Congress. But once Republicans held the House, Senate, or both over the next six years, he ignored Capitol Hill as much as possible. He spared himself the unpleasantness of compromising with Republicans and instead governed by executive orders and regulations.

Decisions taken by the president alone are vulnerable to being erased by subsequent presidents. And that’s what happened to the pact with Iran. It wasn’t a treaty ratified by the Senate. Democrats used the filibuster to block even a nonbinding vote on it. Trump killed the deal with his signature. That was also all it took to quit the Paris accord on global warming.

There were two factors behind Obama’s decision to shun a treaty, which requires a two-thirds vote in the Senate. Winning that lopsided a vote appeared to be impossible. On the other hand, Obama had a backup—Hillary Clinton. She was expected to win the presidency in 2016 and could be relied on to protect the nuclear agreement.

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HAPPY TAX DAY !

Wednesday, April 18th, 2018

 

The waste of our taxpayer money is described in excruciating detail in this article. Try to smile  as you write your check to the IRS !   Nancy   

HAPPY TAX DAY !

Happy Tax Day! Here’s a $75,000 Puppet Show, Courtesy Of Your Paycheck

April. 17. 2018
PLEASE CLICK ON THE LINK TO VIEW THE ARTICLE
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VIDEO PRAGER U WHAT YOU NEED TO KNOW ABOUT PLANNED PARENTHOOD

Monday, February 19th, 2018

 

VIDEO PRAGER U   what you need to know about Planned Parenthood

www.prageru.com/videos/what-you-need-know-about-planned-parenthood

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VIDEO – DAVOS – CEO’S FROM WORLDWIDE COMPANIES TELL TRUMP THEY ARE INVESTING MORE IN THE U.S.

Friday, January 26th, 2018

 

Watch President Trump at a meeting with CEO’s from major companies from around the world as they explain how their companies are going to be investing in the U.S. economy.    Nancy

VIDEO – America First: European CEOs Go One By One To Tell Trump They Are Investing Billions Back In The US

www.weaselzippers.us/372532-america-first-european-ceos-go-one-by-one-to-tell-trump-they-are-investing-billions-back-in-the-us/

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THE IRS EVADES ACCOUNTABILITY

Thursday, January 11th, 2018

 

THE WALL STREET JOURNAL

The IRS Evades Accountability—and Its Excuse Is Ridiculous

It claims its rules lack a ‘significant economic impact’ because they’re ‘derived from’ statutes.

By John J. Vecchione and James Valvo     Mr. Vecchione is president and CEO of Cause of Action Institute, where Mr. Valvo is counsel and a senior policy adviser.   January 10, 2018
EXCERPT FROM THIS ARTICLE:  

Specifically, the White House should demand that the IRS submit all rules to the Office of Information and Regulatory Affairs for review. It should make it known that it will delay the implementation of any new rules until the IRS conducts the requisite economic analysis. And the Senate should demand that President Trump’s nominee for IRS commissioner—who has yet to be named—publicly commit to reforming this practice. Anyone who wants to lead the IRS should promise to produce economic analyses for proposed rules and share that information with the public.

No agency has more influence over every taxpayer than the IRS. It’s time for oversight of that agency to match its unparalleled role in Americans’ lives.

 
 

Every American knows the Internal Revenue Service collects taxes and audits taxpayers. Fewer realize that the agency also issues far-reaching rules that affect the entire economy. Any agency with such vast rule-making power deserves the highest level of scrutiny and accountability. The IRS is in particular need of oversight following the scandals that have engulfed it in recent years.

Yet a new report from the Cause of Action Institute reveals that the IRS has been evading numerous oversight mechanisms, and it refuses to comply with laws requiring it to measure the economic impact of its rules.

Congress has passed several laws, including the Regulatory Flexibility Act and the Congressional Review Act, that require agencies to report on their rules’ economic impact to lawmakers and the public. The president also conducts oversight of agency rules through the White House Office of Information and Regulatory Affairs. These good-government measures are meant to ensure unelected bureaucrats can be checked by the public.

Crucially, they are all triggered by an initial determination by the agency of whether its new rule will have a “significant economic impact.” But as our report shows, the IRS has made up a series of exemptions that allow it to avoid basic scrutiny. The agency takes the position that its rules have no economic effect because any impact is attributable to the underlying law that authorized the rule, not the agency’s decision to issue or alter the rule.

The IRS prominently used this excuse in 2016. It had proposed changes to the way it valued interests in closely held businesses for estate- and gift-tax purposes. This rule would have had a dramatic effect on thousands of small businesses and family farms and their inheritors. The affected communities reacted strongly, but the IRS still asserted the rule was only interpretive. It provided no more than the boilerplate statement that any economic effect “is derived from the operation of the statute, or its intended application, and not from the proposed regulations in this notice of proposed rule-making.”

This is pablum. Were it correct, rules from every federal agency would be exempt from oversight, since all agency rules are based in statute. If other agencies adopted this mind-set, it would gut oversight of the regulatory state by the elected branches.

The IRS did submit the rule to the Small Business Administration’s Office of Advocacy for comment on how it would affect small businesses. That office firmly rejected the IRS claim that the rule was exempt from economic analysis. The IRS brushed aside the SBA’s argument, but the Trump Treasury Department halted this ill-advised rule.

Yet the IRS’s brazen assertion of immunity from oversight remains in place. It first bestowed the economic-impact exemption on itself in 1998, after Congress amended the Regulatory Flexibility Act expressly to cover IRS interpretive rules. The IRS Office of Chief Counsel issued a notice claiming that its interpretive rules do not have an economic impact, an outrageous assertion meant to help the agency avoid the new law. The IRS originally stated that only the “revenue impact”—the amount of money collected and transferred to the Treasury—was exempt from analysis. It has since broadened this claim to evade White House review and the Congressional Review Act. The IRS now asserts the exemption for all “effects” from its rules, including macroeconomic impacts, behavioral changes, compliance costs, and record-keeping and reporting burdens.

Criticism of the IRS position goes beyond the SBA. Members of Congress and the Government Accountability Office have also called for reform of this baseless practice. Congress and President Trump should step in to correct this dubious behavior and ensure the IRS is held accountable for its actions.

Specifically, the White House should demand that the IRS submit all rules to the Office of Information and Regulatory Affairs for review. It should make it known that it will delay the implementation of any new rules until the IRS conducts the requisite economic analysis. And the Senate should demand that President Trump’s nominee for IRS commissioner—who has yet to be named—publicly commit to reforming this practice. Anyone who wants to lead the IRS should promise to produce economic analyses for proposed rules and share that information with the public.

No agency has more influence over every taxpayer than the IRS. It’s time for oversight of that agency to match its unparalleled role in Americans’ lives.

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HOW TAX CUTS WILL AFFECT FAMILIES

Thursday, December 28th, 2017

 

VIDEO

CBS asked an accountant how tax cuts will affect families.

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