Trump tax cut

Trump needs tax cut 2.0

Stephen Moore, Washington Times

Mr. Trump and the Republicans need a new tax cut plan — just as a rock n roll band who’s album has just gone platinum needs a new album out next year. The fact that Democrats are so open about their lust for higher taxes, makes the case for a Republican tax cut, even stronger. What would a new tax plan look like? I’m a big fan of the Steve Forbes’ 18 percent post card flat tax. That’s probably too big and bold for now. Mr. Trump has said he wants any new tax cut to be aimed at the middle class. Let the liberals spend the next 11 months trying to explain why higher taxes and lower take home pay is better for families than lower taxes and MORE take home pay.  That should be fascinating to watch.

Thanks for the tax cut. It's time for a second act

Editors, Washington Examiner

First, further raise the standard deduction, to moot itemized deductions for all but the very wealthiest Americans. Second, lower the amount of mortgage interest that is deductible and bar deductions on mortgages for second homes. At this point, the number of people itemizing will be even smaller than it is today, and the difference between their itemized deductions and the standard deduction will be smaller. That will make the third and final step easier: Totally abolish the deductions for mortgage interest and state and local taxes. If Democrats believe what they say they believe — that the wealthy game the tax code too much, and the tax code should be more progressive — they’ll go along with this next step of tax reform.