Category Archives: Taxes

Boom!

sunbeam August 1, 2019 Comments Off

MAGAnomics continues to shower prosperity on all Americans. The Bureau of Economic Analysis (BEA) released significant wage and salary data on July 30^th. These data demonstrate remarkable numbers. There have been stunning upward revisions for 2017 and 2018.

Employee compensation rose 4.5% in 2017 and 5% in 2018. These numbers demonstrate incredible wage growth during a period of low inflation (1.4%). When the 5% wage growth in 2018 was combined with the tax reform package passed in late 2017, personal disposable income rose an astonishing 6.1% in 2018. And the primary beneficiaries of this growth have been blue-collar workers.

Democratic Giveaways

sunbeam July 30, 2019 Comments Off

This week we will see the second round of what the media call debates among those wanting to be the person nominated for President from the Democratic Party. A very serious question regarding these debates is what insane giveaway programs will we see unveiled this week? The Democrats have no ideology other than Orange Man Bad and bribing voters through giveaway programs. The Democrats cannot compete in the marketplace of ideas.

Each candidate is trying to outdo the other in giving things away. Almost all have signed onto reparations for blacks. Elizabeth Warren has expanded reparations to include Native Americans and gays. Medicare for all is another popular giveaway. Tuition-free college is on a number of plates. All of this means that taxes will go up, way up. AOC’s target rate of 70% would not be enough.

Hell Freezes Over

sunbeam April 24, 2019 Comments Off

Has hell frozen over? On the day before federal tax returns were due to be filed last week, the NYTimes ran a piece that admitted, rather belatedly, that PDJT’s tax reform package of 2017 resulted in lower taxes for the vast majority of Americans.

The reductions were broad-based and hit all levels of the middle class just as PDJT and the Republicans said it would. This is logical since the tax rate for middle-income earners was cut and the standard deduction was increased. Fewer than one in ten households across the entire spectrum of tax filers, rich and poor, actually saw an increase in federal taxes. And less than 2% of lower income filers were in this category.