Quotes Of The Week

I can always depend on Senator Kennedy of Louisiana to provide some good quotes. On January 29, The Media Research Center posted a few:

Kennedy warned that the U.S. is “headed for a multiple-vehicle pileup” caused by the mutually essential needs to extend the tax cuts enacted during President Donald Trump’s first term while also cutting federal government spending.

If the Trump tax cuts aren’t extended, taxes will go up by $4.3 trillion, with 60% of the increase hitting middle class and lower income Americans, Kennedy cautioned.

Meanwhile, the U.S. national debt has topped $36 trillion, or $102,000 per citizen, the senator noted, stressing the need to spur economic growth.

“I don’t want to blame it all on President Biden, but, if the shoe fits, wear it, Cinderella,” Kennedy said, regarding the nation’s unprecedented debt fueled by wanton spending.

The article concludes:

“So, I hope all the folks today will go home and take off their Batman t-shirts, wash them [because they’re] probably a little sweaty.

“I hope everybody will go home – those who drink, have a cocktail – take their meds and put this all in perspective. That’s what that OMB memorandum (on excessive spending) was all about.”

Kennedy then closed with his vehicular warning:

“If you don’t believe we’re going to have to cut spending substantially, then you shouldn’t be driving.”

He is right. If we don’t cut spending, we will totally tank our economy.

Making America’s Economy Great Again

On Saturday, Hot Air posted an article by Economist Stephen Moore with suggestions about helping the American economy recover from four years of the Biden administration.

This is the list:

1. Slash Job-Killing Regulations

2. Make the Trump Tax Cuts Permanent

3. Replace Welfare With Work

4. Use America’s Abundant Natural Resource

5. Cut Medical Costs by Demanding Health Care Price Transparency

6. Allow School Choice for All Families

7. Implement a Pro-America Immigration Policy

8. Revive America’s Great Cities

9. Pull the U.S. Out of the Paris Climate Change Treaty and Other Anti-America Agreements

10. Finally, Drain the Swamp

Please follow the link to the article for details. All of these are doable. All of these ideas benefit all Americans. It would be wonderful to see America’s cities return to being safe, clean places that are wonderful to visit.

The Lie That Keeps Being Told

To debunk one of the claims repeatedly made by the Harris campaign, I am going back to an article from December of 2021. The facts have been available since then, but the campaign has chosen to ignore them–just as the campaign has continually lied about Project 2025 and President Trump’s stand on abortion.

In December 2021, Yahoo News shared an article from The Hill.

The article reports:

Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans’ tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans’ Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent. (For more detailed data, see my table published here.)

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What’s more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

The article concludes:

Every income bracket with a top level lower than $25,000 experienced a reduction in its number of filers, and every income bracket above $25,000 increased in size, with the biggest gains occurring in the brackets with a floor of at least $100,000.

The fact is, Republicans’ 2017 tax reform law did exactly what was promised: It lowered taxes for all income groups, provided the greatest benefits for middle-income households, and spurred economic growth that helped reduce poverty and improve prosperity.

It would be a grave mistake for Democrats to eliminate key parts of this important legislation.

Numbers don’t lie. Unfortunately, Democrat Presidential candidates do.