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#1 User is offline   grimreefer 

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Posted 11 November 2018 - 06:52 AM

Quote

WILLIAMS: Skin In The Game

The Daily Wire
Walter E. Williams
November 10, 2018

excerpt:

In describing the GOP tax cuts, House Minority Leader Nancy Pelosi said that they and bonuses American workers were getting were "crumbs." They were "tax cuts for the rich." Some argued that the tax cuts would reduce revenues. Pelosi predicted, "This thing will explode the deficit." How about some tax facts?

The argument that tax cuts reduce federal revenues can be disposed of quite easily. According to the Congressional Budget Office, revenues from federal income taxes were $76 billion higher in the first half of this year than they were in the first half of 2017. The Treasury Department says it expects that federal revenues will continue to exceed last year's for the rest of 2018. Despite record federal revenues, 2018 will see a massive deficit, perhaps topping $1 trillion. Our massive deficit is a result not of tax cuts but of profligate congressional spending that outruns rising tax revenues. Grossly false statements about tax cuts' reducing revenue should be put to rest in the wake of federal revenue increases seen with tax cuts during the Kennedy, Reagan and Trump administrations.

A very disturbing and mostly ignored issue is how absence of skin in the game negatively impacts the political arena. It turns out that 45 percent of American households, nearly 78 million individuals, have no federal income tax obligation. That poses a serious political problem. Americans with no federal income tax obligation become natural constituencies for big-spending politicians. After all, if one doesn't pay federal income taxes, what does he care about big spending? Also, if one doesn't pay federal taxes, why should he be happy about a tax cut? What's in it for him? In fact, those with no skin in the game might see tax cuts as a threat to their handout programs.

Whenever tax cuts are called for, it's not long before they are called tax cuts for the rich. Let's look at who pays what in federal income taxes.

*SNIP*

Getting back to skin in the game, sometimes I wonder whether one should be allowed in the game if he doesn't have any skin in it.
LINK

Preach it. :cool:


Though he did forget to mention the dems claims that things like tax cuts are apocalyptic and will kill us all. :whistling:

This post has been edited by grimreefer: 11 November 2018 - 06:54 AM

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#2 User is offline   HardRightBambi 

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Posted 11 November 2018 - 08:02 AM

View Postgrimreefer, on 11 November 2018 - 06:52 AM, said:

Preach it. :cool:


Though he did forget to mention the dems claims that things like tax cuts are apocalyptic and will kill us all. :whistling:


"Whenever tax cuts are called for, it's not long before they are called tax cuts for the rich. Let's look at who pays what in federal income taxes"

Fact#1. Dims don't cut taxes. Ever. Examine their reasoning: http://www.latimes.c...b03-column.html

Fact#2. Per tax and spend Dimwits: It's always, always apocalyptic to do anything that is other than throwing money at the problem. We've thrown wads of cash at the educational system to what avail?
http://www.pewresear...y-math-science/

We didn't throw enough, it seems.

Our immigration system is "broken" ergo we need to mow the grass the snakes might hide in: https://www.realclea..._than_wall.html Levies? = throw cash at the problem.

The list is endless. I think the point establishes itself.

Personally, I make my way into the 39.6 bracket each year. At times, I assure you, that seems downright apocalyptic. True, I have a small army of tax accountants, consultants, and attorneys on the pay roll to drastically reduce that percentage but I'm reasonably certain I and others in the same bracket pay for several thousand of that 78 mil who pay no taxes.
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