U.S.A. Douglas Myser
With nearly nine months of his Presidency over, its time for President Trump to make good on his call to make America First with tax code reform. One of the biggest obstacles to the incredible economic engine of the world, know as the United States economy, has been real tax reform. Not just for the 1%, but for the real drivers of economic growth, small business owners. To do that, President Trump will have to compromise.
If a lesson exist from the first nine months of a tumultuous start to his Presidency, President Trump should have learned by now that compromise is a given, if you are to govern, and to lead. Our country doesn’t need another failed legislative attempt, we need something to say “That going to help us in the future.” Small business owners are the real drivers of the economy, and they should be the main beneficiaries of this tax code reform attempt.
If tax relief is needed, then the pie should be distributed with some sort of semblance of fairness, otherwise it will bring about the divided government, full of insults, and political cajoling. Tax reform isn’t easy, but the benefits to our economy can’t be ignored. If true tax code reform is what you want, be fair about it and don’t make it so lopsided that it has no chance to pass. Compromise.
The tax code should be a permanent fixture also. We should not have temporary tax cuts, that expire and cause us to re-visit the issue over, and cause tax preparers to go back and relearn the new code, just a few years down the line. Longer term planning is much easier to business owners, and those making investments, if the tax code reform is made permanent.
It would be nice to give a tax break sufficient to jump start the economy, without bloating the deficit, but tax reform usually causes one or the other. In this case, it seems alot of people are tired with subpar growth, and think significant tax reform is worth the risk of larger deficits, if it brings higher growth rates.