Good morning, friends, and welcome to Wednesday!
Progressives are on the warpath. They’re employing one of their oldest strategies to push back against Speaker Ryan and House Republicans’ blueprint for tax reform, which would grow the economy, jobs, and workers’ paychecks. The progressives’ strategy? Class warfare.
The liberal Tax Policy Center recently released a decidedly ideological evaluation of Speaker Ryan and House Republicans’ blueprint for tax reform. Cable news personalities on the Left are digging in and using their bullhorns to smear the plan as a giveaway to the so-called “one percent.”
The fact is our outdated tax code is anti-growth, anti-family, and chocked full of favors for special interests. Knowing that, it’s unfortunate that liberals would rather kick the can down the road than tackle tax reform.
As Speaker Ryan recently lamented at The Economic Club of New York, “The fear I have is the progressives who kind of control the Democratic party don’t think anything close to what looks like tax reform is a good thing.”
We need a new tax code.
Speaker Ryan and House Republicans’ blueprint for reform is promising. The nonpartisan Tax Foundation found their plan would:
- Increase GDP by 9.1 percent in the long term,
- Grow wages by 7.7 percent, and
- Create 1.7 million new, full-time jobs.
Recognizing the need for reform and the benefits that will come from it, the Conservative Reform Network joined other conservative, free-market groups in praising the blueprint.
Let’s hope that, instead of engaging in their predictable antics of class warfare, liberals will get serious about reforming our tax code.