Trump’s Bold Tax Revolution: A Sweeping Overhaul to Boost ‘Made in America’ and Slash Taxes for Everyday Americans



Although he’s getting no recognition for it, in a collection of campaign speeches, President Trump has proposed the most radical revision to the U.S. tax code in a generation.

During his first term, President Trump cut the corporate tax rate nearly in half, from 39% to 21%. Now he’s proposing, for products completely made in America, a tax rate of only 15%, comparable to the favored long-term capital gains rate.

Remember: corporations do not actually pay income taxes. They only collect the tax from their customers. All the money comes from customers and taxes, like all other costs, are built into product prices.

So it would be a tax break for taxpayers, and would make domestically produced products more price competitive.

That’s not even close to all. Trump has also proposed the following cuts:

— No tax on tips.

— No tax on Social Security payments.

— No tax on overtime.

— A giant increase in child tax credits.

Collectively, President Trump is proposing a vast overhaul of the U.S. income tax system. His three radical “non-tax” categories —tips, overtime, and Social Security— would be a precedent for excluding more broad areas of income from taxation. Assuming Trump’s tax exclusions passed, the same approach would surely expand to encompass even more areas.

Trump’s economic plan would reduce inflation, incentivize work, encourage fertility, and increase domestic manufacturing. It’s win-win-win-win. Critics focused on the cost, ignoring the indisputable reality that tax revenues increase along with a growing economy regardless of rates.

On the other hand, Cackle and the Coach have literally promised to radically increase taxes, for fairness. Vice President Harris moronically told a CBS reporter this week that she would tackle inflation by taxing supermarkets.

Will Americans vote in their own best interest? Partisans perhaps will not. A liberal relative assured me last night that both Trump assassination attempts were hoaxes. Where do you go from that kind of MSNBC programming? Trump’s trickled-out tax plan is possibly the most encouraging campaign development. Our extreme circumstances require big solutions, and that is exactly what the former President is proposing. Stay tuned.

Jeff Childers

Jeff Childers is the president and founder of the Childers Law firm. Jeff interned at the Federal Bankruptcy Court in Orlando, where he helped write several widely-cited opinions. He then worked as an associate with the prestigious firm of Winderweedle, Haines, Ward & Woodman in Orlando and Winter Park, Florida before moving back to Gainesville and founding Childers Law. Jeff served for three years on the Board of Directors of the Central Florida Bankruptcy Law Association. He has also served on the Board of Directors of the Eighth Judicial Bar Association, and on the Rules Committee for the Northern District of Florida Bankruptcy Court. Jeff has published several articles as co-author with Professor William Page of the Levin College of Law (University of Florida) on the topic of anti-trust in the Microsoft case. He also is the author of an article on the topic of Product Liability in the Software Context. Jeff focuses his area of practice on commercial litigation, elections law, and constitutional issues. He is a skilled trial litigator and appellate advocate. http://www.coffeeandcovid.com/

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