Government

Why does the press snipe and mislead?

A recent analysis by the CBO has dire predictions for the economy, federal deficit and debt and assumes a maximum 1.9% growth in the economy. We can’t tax or cut our way out of this mess. Others have calculated that a 3% growth rate will virtually solve all the fiscal problem, including Social Security …. so where should our focus be now? 

Even though we were at 3% in the 1990s, most economist see that as a real stretch now… so where should our focus be? Tax reform is one focus, tax reform that stimulates investment, innovation, productivity, jobs. One proposal is coming, but the liberal press can’t resist sniping at it even before it’s on the table. Instead, their headlines seek to mislead as one from the NYTs below. Lowering corporate taxes is not a negative thing, especially given 45% of Americans pay no federal income taxes.

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4 replies »

  1. Only 30% of taxpayers itemize. If the tax reform bill can be passed with the increased standard deduction doubled to $24,000 and the personal exemption left at $4,000 a family of 4 will start paying tax on income above $40,000. This really helps the middle class. I doubt you will hear any of this from the left wing media.

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      • The reason 45% pay no federal income tax is they are only a few thousand dollars above the poverty line. They do pay SS tax, state income tax, property tax, sales tax and many other fees to the government state and federal. 50% of workers make less than $30,000, many a lot less, they are never going to be any big taxpayers, from that group. Many of the 45% are retirees living on SS and some savings. Do you really think you are going to get a whole lot of tax dollars from the lower middle class. Even the politicians realize this, and know it is much better not taxing low income families and maybe they will make just enough to not qualify for any government aid programs. I have been lower middle class my whole life and the only aid I have ever received was energy assistance for a few years. Now that natural gas prices have dropped, I do not even apply for the assistance, leave it for someone who really needs it.

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  2. The quick answer is…to sell newspapers. The facts are that there is not enough information available about the plan to form any kind of opinion one way or another. Until there are more details, including which parts of the plan will be acceptable to congress everything you read or hear about the plan is conjecture based on ideology.

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