As soon as President Trump announced a tax cutting plan to simplify the tax code, and that reduces tax rates and increases the personal exemption to $12,000 from $6,300 for individuals, the media, along with Democrats started singing a familiar tune. How will we “pay” for tax cuts they cried. Pay for tax cuts they say? Talk about a bogus question. History has shown that when tax rates are lowered, be it capital gains, or personal taxes that revenues increase. In other words the government gets more tax dollars because the economy benefits. Businesses, individuals, everyone benefits and revenues rise. The left, and the media, of course cannot seem to grasp something very simple. As with most things, the less government involvement the better.
This, of course does not fit the narrative that any decrease in tax rates will lead to great catastrophes and higher deficits. The rivers will be polluted, old folks will perish, the poor will starve and on and on. That revenues always rise after tax cuts escapes the left. Of course, there is another side to the coin here, one the media ignores. Spending needs to be cut too. Unnecessary programs, bloated government agencies, wasteful pork projects, etc. need to be cut if we are to truly reduce our national debt. In short, we need more of this
Secretary of State Rex Tillerson has begun fulfilling President Donald Trump’s mission to reduce the size of government and save taxpayers a boatload of money by proposing to eliminate 2,300 jobs at the State Department.
If implemented, the plan would trim the State Department’s budget by more than a quarter and its staff by approximately 3 percent, according to The Associated Press.
The majority of the job cuts would be attained through attrition, or the process of waiting for employees to simply retire, while the remainder would be acquired via buyouts. As noted by The AP, buyouts would be offered first to employees over the age of 50 who have at least two decades of government service under their belts.
Ah, there is an idea, and the answer Democrats need to hear when they whine about “paying” for tax cuts. the answer? SPEND LESS!