Tag: Tax Reform

We Americans NEED Tax Reform


John R. Houk

October 24, 2017

President Trump’s tax reform has a bit of everything beneficial from rich to poor. NOT JUST THE RICH as the Democrats deceptively tell their listeners. Sensibly, along with the give there is also some take. After all, tax revenue is what operates the government whether every Joe-American likes it or not.

 

The Democrats and Left-oriented media obfuscate the reality of Trump tax reform with claims it benefits only the Wealthy and harms the Middle Class. That claim simply is not true because deductions benefitting the rich are stream lined as much to wealthy as to all the other tax brackets. Since the Wealthy pay a majority of the tax revenue, even with a reduced tax rate the reduction in deduction choices still gives the Wealthy a punch to the gut.

 

Talking about tax brackets, President Trump wants three reduced from the present day seven brackets. Speaker Paul Ryan apparently wants to add a fourth bracket aimed at the uber-wealthy most likely to kowtow to the Democrats accusation of a tax plan only benefitting the rich.

 

The Original Tax Bracket Proposal (Source: TheBalance.com 10/23/17)

 

  • Lowest Rate: 12% (down from 15%)

 

  • Middle Rate: 25% (down from 28%)

 

  • Highest Rate: 35% (down from 39.6% – let’s just call it 40%)

 

If GOP Establishment Has its Way – The Fourth Bracket

 

 

TheBalance.com has an accurate of the plusses and minuses of Trump Tax Reform with no pun intended, balancing to the plus-side. SavingToInvest.com is apparently running a constant update on where the Trump Tax Reform seems to be at based on recent information.

 

The Heritage Foundation has a fantastic analysis of the proposed Trump Tax Reform looking through the eyeglass of Congress-talk with the term “Unified Framework”. The Heritage analysis begins by detailing how tax reform will benefit Corporations in the sense of benefiting the U.S. economy. The Corporation analysis is written terms that we every-day Americans can understand. Then Heritage looks at how tax reform affects us normal American individuals. I encourage you to read it: http://tinyurl.com/yalz2k35

 

Today, we have an anti-growth, complex and out-of-date tax code. President Donald Trump, Speaker Paul Ryan and Senate Majority Leader Mitch McConnell made it clear before the November 2016 election that pro-growth tax reform would be a major legislative priority for Republicans in 2017 if they were given the chance to govern.

Our tax code currently suppresses American business growth, is far too complex for the average citizen, and is full of cronyism. Accordingly, I encourage [you] to stick to the following principles on tax reform: lower and simplify individual tax rates, lower the corporate tax rate, permit “full expensing,” establish a territorial tax system, and end cronyism.

 

The American people gave Republicans control of the House, Senate and White House, and there is a real opportunity to achieve comprehensive, pro-growth tax reform. Congress can use this as an opportunity to pair tax reform with spending cuts in order to comply with the rules of budget reconciliation and maximize the economic benefits of tax reform. After all, the federal government has a spending problem, not a revenue problem. (Hat Tip: HeritageAction.com)

 

JRH 10/24/17

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Bridenstine & Lankford Tax Reform Emails


James Lankford & Jim Bridenstine

Senator James Lankford and Rep. Jim Bridentine

Congressman  & Senator from Oklahoma

 

By John R. Houk

© May 12, 2015

 

I participated in one of those mass emails to Congress recently in which an email was sent to my Oklahoma Representative from District One and my Okie Senators. I believe the mass emailing was about tax reform. Dog gone it, I can’t remember the facilitator of the email was. I just remember a payment was not necessary and a contribution would have been appreciated. I participate and didn’t think anything further about my participation.

 

Here’s the thing though yesterday I received a response from Rep. Jim Bridenstine. Incidentally the Republican I supported in the First District 2012 Primary as Tea Party Conservative who defeated Republican incumbent John Sullivan. And check it out – Sullivan was a standard Oklahoma Republican. However, as a Congressman, Sullivan towed the GOP marching order line. Bridenstine won in 2012 campaigning on a Less Government, Fairer Taxation and dump Obamacare. And of course Bridenstine won reelection in 2014.

 

Senator James Lankford, my Republican Senator responded today (5/12/15) to the mass email on tax reform. Frankly I enjoyed both their responses even though I suspect they were form letter responses canned according to constituent questions. Since I liked the responses that was some good canning.

 

JRH 5/12/15

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Regarding Tax Reform Email

 

By Rep. Jim Bridenstine (R-OK District 1)

Sent: 5/11/2015 4:21 PM

Congress Website: http://bridenstine.house.gov/

 

Thank you for contacting me regarding tax reform.  I appreciate your opinion and value your input on this important issue.

As you may know, in the 113th Congress I introduced House Joint Resolution 104 to repeal the 16th Amendment of the U.S. Constitution and eliminate the IRS. The 16th Amendment allows the federal government to impose the income tax.  There are viable alternative plans for raising revenue fairly to support constitutionally enumerated functions of the federal government that don’t require the 16th Amendment.  The current system is broken beyond repair and it’s time for the United States to move beyond our dated tax structure.

Our current tax code is an unfair system which discourages investment, innovation and entrepreneurship.  Our income tax has become so convoluted that even professionals have a hard time understanding its mechanics.  The system is subject to endless manipulation by individuals and groups seeking to gain even the slightest monetary advantage.

The 4th Amendment to the Constitution guarantees, “The right of people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures.” The 16th Amendment effectively negates the 4th Amendment.  Now is the time to repeal the 16th Amendment and eliminate the IRS.

If successful, the repeal of the 16th Amendment will eliminate the personal and corporate income tax, the estate and gift taxes, and taxes on investment earnings at the federal level.  Personally, I am in favor of replacing it with the Fair Tax, but I believe that supporters of other alternatives to our broken tax system can also get behind this effort.

 

Thank you again for writing and expressing your thoughts on this important issue.  Please visit my website at http://bridenstine.house.gov to send me another message with your thoughts and opinions, read my positions on major issues, or sign up for my E-Newsletter. You can also follow me on Facebook and Twitter by clicking the links below. I look forward to hearing from you again soon.

Sincerely,

 

Jim Bridenstine
U.S. House of Representatives

 

Please click the following links to follow me on Facebook or Twitter, and click here to sign up for my E-Newsletter.

 

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Response from Senator James Lankford

 

Sent by Senator James Lankford (R-OK)

Sent: 5/12/2015 9:31 AM

Senate.Gov Website: http://www.lankford.senate.gov/

 

Thank you for taking the time to share your thoughts and concerns on the IRS targeting scandal and the vote to hold Lois Lerner in Contempt of Congress.  I served as a member of the House Committee on Oversight and Government Reform for four years and was actively involved with this investigation from the beginning. I appreciate the time you took to engage yourself in this important matter.

 

On April 10, 2014, after numerous hearings, the House Oversight and Government Reform Committee voted to hold Ms. Lerner in Contempt of Congress.  On May 7, 2014, the bill to hold her in contempt passed the House in a bipartisan vote of 231-187. I supported both measures.

 

I also supported H. Res. 565, a resolution calling on the Attorney General to appoint a Special Counsel to investigate IRS targeting of conservative groups seeking tax-exempt status.  In addition to 224 Republicans, 26 Democrats voted in favor of the resolution, which passed by a vote of 250 to 168.

 

On April 1, 2015, the Justice Department announced they will not seek criminal charges against Ms. Lerner. In a letter written to Speaker John Boehner, Ronald Machen, former U.S. Attorney for the District of Columbia, said a criminal case would not be presented to the grand jury over Ms. Lerner’s refusal to testify before the House Oversight and Government Reform Committee.

 

Justice Department attorneys determined that Ms. Lerner did not waive her Fifth Amendment right during her opening statement of general claims of innocence on May 22, 2013.  Because she exercised her constitutional right, she cannot be prosecuted for contempt.

 

You might be interested to know the Treasury Inspector General for Tax Administration indicated in congressional testimony on February 27, 2015, that there could be criminal wrongdoing in the disappearance of IRS emails related to the Lerner case.  Additionally, on April 2, 2015, a federal judge ordered the IRS to turn over any lists of potentially targeted groups.

 

I am disappointed but not surprised by the Justice Department’s decision not to take up the contempt case.  The IRS still owes every American taxpayer the truth about whether or not the IRS specifically targeted Americans seeking tax-exempt status based on their political beliefs. I will continue to seek the facts, so we can ensure this type of misconduct does not happen again.

 

Please feel free to contact me again via email at www.lankford.senate.gov for more information about my work in the United States Senate for all of us…

 

In God We Trust,

 

James Lankford
United States Senator
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Bridenstine & Lankford Tax Reform Emails

By John R. Houk

© May 12, 2015

_________________________

Regarding Tax Reform Email

 

216 Cannon House Office Building
Washington, DC 20515
(202) 225-2211

 

About Rep. Jim Bridenstine

 

Congressman Jim Bridenstine was elected in 2012 to represent Oklahoma’s First District, which covers Washington, Tulsa, Wagoner Counties plus portions of Rogers & Creek Counties. Bridenstine serves on the House Armed Services Committee and the Science, Space and Technology Committee.

From the start, Bridenstine has been widely recognized in the House for his integrity, commitment to principles, and willingness to uphold the rule of law. He has become an effective member of Congress by focusing on three specific areas: National Security, Economic Freedom, and Constitutional Integrity. Jim supports moving toward a balanced budget through spending control, tax reform, and financial measures and policies promoting free markets.

Bridenstine has focused on the elimination of Obamacare and reform of laws and regulations that present a huge burden on the economy. He has introduced legislation and supported a strong national defense, religious freedom, protection of life, free speech and restoration of the balance of power within the branches of the federal government consistent with the Constitution.

 

On April 1st, Bridenstine achieved a remarkable accomplishment and became the … READ THE REST

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Response from Senator James Lankford

 

About Senator James Lankford

 

Senator James Lankford is committed to protecting our freedom, demanding an efficient and transparent federal government, and ensuring our nation remains the world leader.

 

Addressing our national debt and restoring a responsible federal budget is among James’ highest priorities in the Senate. He remains focused on eliminating duplicative and excessive federal regulations that diminish people, suffocate business and drive manufacturing overseas. From regulations that increase the cost of living to the oppressive regulations on consumer lending that make it hard for working people to build credit, Senator Lankford fights for opportunity in Oklahoma and our nation. He believes that empowering families, individual people and private businesses will create jobs, protect our values, and provide the best solution to grow our economy.

 

After serving four years in the U.S. House of Representatives, James was elected to the U.S. Senate on November 4, 2014, to finish the remaining two years of retiring Senator Tom Coburn’s term, which will end January 2017. James serves on the Committee on Appropriations, the Committee on Homeland Security and Governmental Affairs, the Select Committee on Intelligence, and the Indian Affairs Committee.  Within the Committee on Homeland Security and Governmental Affairs, he is the Chairman of the Subcommittee on Regulatory Affairs and Federal Management.  Additionally, James serves on the Senate Republican Whip Team for the 114th Congress.

 

Encouraging personal faith, committed families, practical education and the critical need for everyone to invest in … READ THE REST

The Door is About to Shut for Americans


 

I am neither an economist nor a tax specialist; however I can read and watch television. The information I do understand is rather gloomy. It seems to me a little reform to the tax system and how the Federal government manages the creation of money coupled with factors of debt and revenue quite probably would bring a measure of confidence to the American Dollar and the American economy. This is a case that if the status quo remains unchanged then the gloom and doom has a greater probably of occurring than not.

 

Here is some information I received from Tony Newbill that is on the gloom and doom side if the status quo remains.

 

Tony sent a number of links two of which were the same story from different websites. In essence the gloom and doom portrayed by Tony’s links is that the American economy will collapse and if you have assets you had better invest them in a stable foreign market (Where in the world is that?) and/or begin a preparation supplying oneself (with your family and/or a network of people) for the coming scarcity of food and water because the U.S. Dollar will become worthless.

 

Below is the best link.

 

JRH 6/10/11

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