“The aim is to pass the biggest shake-up to the code since the Reagan reforms by year’s end. As President Trump says, that would be a ‘big, beautiful Christmas present.’”

This is the tax-cut plan America needs

The New York Post

November 2, 2017

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House Republicans just released a tax-cut plan that meets the nation’s needs — and in a less bitterly partisan world would win major Democratic support.

It offers the relief for business and the middle class needed to get the economy roaring, while arguably increasing the progressivity of the individual tax code.

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One goal is to stop businesses from taking their operations — and jobs and taxes — abroad in search of lower rates, as has become all too common. But the larger aim is to boost business investment, allowing for pay hikes and job-creation on the larger scale that Americans used to expect.

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There are goodies for middle-income taxpayers, too. For example, the lowest bracket, with a rate of 12 percent, has an upper limit higher than the current 10 percent and 15 percent brackets. So many middle-income taxpayers would see their rates drop.

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The aim is to pass the biggest shake-up to the code since the Reagan reforms by year’s end. As President Trump says, that would be a “big, beautiful Christmas present.”

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Read the full editorial here.