According to Bloomberg, Steve Bannon is now advising the Trump Administration to impose a tax hike on the wealthy. The tax increase he is proposing would be leveraged against the wealthiest Americans and used to pay for a whole range of significant tax cuts to working, middle, and lower income wage earners.
It’s a move that would certainly benefit working families and the middle class- the driving engine behind America’s economy, but one that would be considered unusual for fiscal conservatives. Wealth redistribution is generally looked down upon by Republicans, however, ideas bolstering working people to grow the middle class is a classic conservative method to promoting widespread prosperity.
But it is being hailed as a strategically sound move from a political perspective because it would undercut the Democratic Party as the party that cares about the 90-something-percent. It would also deprive Democrats of one of their favorite talking points in which they insinuate that the only thing Republicans care about is lining the pockets of their wealthiest donors.
This line has already begun to be reversed with the previous election wherein Hillary Clinton was the one who spent many multiple millions of dollars- much of which came from exorbitantly rich contributors. Should the Trump administration go ahead with Bannon’s tax plan, it would devastate one of the left’s traditional claims to fame- fighting for the little guy. This would make the GOP the party of the working man, and leave the left with nothing to cleave to but globalism, war, and PC authoritarianism- three things that are no longer looked upon favorably by the majority of Americans.
But Donald Trump has already long supported lowering the business tax down to 15% from the current 30% in his bid to free up the engines of productivity in this country. This is precisely the sort of policy that the left would decry as anti-social. However, what they seem to be unwilling to understand is the fact that Trump’s new business tax would relieve the burden on small and middle sized companies. At the same time, large corporations with armies of lawyers would have fewer tax write-offs which- at present- are sufficient to allow them to eliminate their tax burden completely. In essence, Trump’s 30% to 15% business tax, frees up companies of modest means while imposing an actual tax on massive business organizations.
Those massive corporations would benefit, however, by being able to dismiss the legions of tax attorneys they now employ. This would be a huge relief for those organizations, a relief that would not harm the middle and working classes. It’s evidence that President Trump’s considerable business acumen really does have a place in the White House. It’s also a plan that would seem to be aligned with Bannon’s idea, a counter-intuitive move which would actually be good for the majority of Americans.
But what may be most interesting about all of this is, while Trump, Bannon, and other serious-minded conservatives are coming up with inventive policy plans that would actually elevate hard working people out of positions of destitution and deprivation, the Democrats are still talking about Russian collusion conspiracy theories. While the Trump administration is working to break down barriers to prosperity for deserving men and women and their families Democrats are plying willing psychologists to try to find some sign of mental illness in Donald Trump in order to get him impeached.
This is difficult to understand because you have to first accept that they are laboring under a number of glaring misconceptions in order to think the way they do. For one thing, if Trump is removed from office, Pence takes over. And, being a man of principle, Mike Pence has pledged to run the White House the way Trump would have done in the event that he has to take his place. What’s more, they seem to think that an impeachment necessarily means removal from office. They seem to believe this despite the fact that Bill Clinton’s impeachment is evidence to the contrary.
But then, we would do well to remember that the left does not seem to speak of what it believes it speaks of what is convenient to believe.
In the meantime, should Trump’s and Bannon’s tax plans go through and become law it would likely trigger wage increases and drops in prices while freeing up huge amounts of capital for business people to grow their enterprises with. None of these seem things to excite Democrats, who seem more interested in crying wolf than earning their keep.
~ American Liberty Report