The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

Thank You, President Trump!

Posted on | February 16, 2018 | Comments Off on Thank You, President Trump!

 

Today, my wife and went to our tax preparer’s office. Being self-employed, tax time is an annual nightmare, as I have to collect all the receipts, etc., about my expenses and income. Then we have to sit down in the office while the tax lady — a very nice lady who is quite patient with us — enters all the data, asks us questions and explains everything. Given a choice between tax time and a root canal? Yeah, at least you get novacaine from the dentist, but you must endure the tax preparation ordeal without benefit of anesthesia. But this year, after enduring the annual trauma, the lady told us what our refund will be. I high-fived my wife and shouted, “Thank you, President Trump!”

There will be a lot of high-fives exchanged this year as millions of Americans find out how much President Trump’s tax cuts mean to them. Nor should we underestimate the positive impact on the economy in general. If many millions of people are getting an IRS refund of $1,000 or more, that translates to billions of dollars in additional consumer demand. More money to buy a car, fix up your house, or put into your retirement account — lower taxes yield economic growth, period.

Who could possibly be against this?

IMF Managing Director Christine Lagarde said the Trump administration’s $1.5 trillion tax cut could prompt other nations to follow suit, fueling a “race to the bottom” that risks hemming in public spending.
“What we are beginning to see already and what is of concern is the beginning of a race to the bottom, where many other policy makers around the world are saying: ‘Well, if you’re going to cut tax and you’re going to have sweet deals with your corporates, I’m going to do the same thing,”’ Lagarde said. . . .
“You need public money,” she said. “The race to the bottom is not conducive to those investments and to helping prepare the workforce and our societies for this new economy of tomorrow.”

Oh, “this new economy of tomorrow,” where international busybodies like Christine Lagarde decide what to do with your money, which they believe is their money, because it’s “public money.”

Screw you, IMF lady! And thanks again, President Trump!

 

Category: Donald Trump, Taxes

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