Jay Weber Show transcript 1-18-24 7:10am
I haven’t said this in a while-so I will restate it: people who say there is no difference between the two political parties are lazy, unserious thinkers.
And they are for a lot of reasons-but that opinion is mostly stated out of ignorance: they aren’t really following along. They, themselves, couldn’t defend that opinion in any coherent way.
They’re just being intellectually lazy.
Of course, there are differences between the two parties and their policies: just look at the huge contrast between how Donald Trump ran the country and the economy, dealt with foreign affairs, etc. And how Biden is doing so.
Trump’s economy was the best in 50 years. Maybe even better than Reagan’s at the end of his term-and he gave us all sorts of deregulation -as well as the biggest tax cut since Reagan.
It’s part of what sparked off such a great economy: if you let the American people keep more of their paycheck, they’ll spend it, invest it, use it to hire people, and use it to create a stronger economy. Reagan knew this. JFK knew this. Trump knows this.
And one example that shoots this entire ‘it makes no difference who we vote for’ nonsense out of the water- is that- folks, in 2025 the Trump/Ryan tax cuts on us- as individual filers- expire.
In 2025-whoever wins the white house is going to get to decide whether those tax cuts continue-or whether we, the people, get screwed as higher tax rates are re-implemented.
This is huge.
Whether-or-not republicans can win control and extend the Trump/Ryan tax cuts represents a
Six-trillion-dollar difference to the American people.
How’s that for a difference between the two parties?
If Joe Biden wins again- he, Bernie and Chuck Schumer are going to stand in the way of-any- extension of the Trump/Ryan tax cuts.
You know they are. They’re going to be champing at the bit to reimplement higher tax rates on everyone- as they characterize it as ‘re-taxing’ the rich- and as they collect six trillion dollars more in revenue out of our paychecks and small companies.
That’s a great reason to vote for Trump and Republicans down-ballot.
And that’s just one tax provision that congress and the president will need to decide on: the democrats want another expansion of the child tax credit-to the tune of 1.6-trillion dollars over ten years.
They want to reinstate the salt deductions for their rich friends in New York and California. These are the federal deductions they can get in the blue states for paying much higher state and local taxes-imposed on them by the local democrats who are screwing up their states and cities.
The rich in those screwed up states get a federal deduction that we-the rest of us in the more responsibly taxed states- don’t.
All of this is looming in 2025. And yet, no one’s talking about it. Not even Donald Trump or GOP lawmakers.
They should be messaging it already; do you want your federal income taxes to leap again? No?
Then you got to vote republican so we can extend the Trump/Ryan tax cuts in 2025.
This is a six-trillion-dollar difference between the parties- and it’s another tax-increase-on you and your family- if you don’t vote republican.
It’s already baked into the pie, folks, if the republicans don’t win.
In 2017- as part of that Trump/Ryan tax package-and to make it ‘balance’ they made the corporate tax cuts permanent but put a sunset date of 2025 on the individual rates. They lapse next year.
If the old rates kick in and every American takes a new income tax hit-imagine the blow to the economy. Imagine the inevitable stock market slide that would also come with it- causing more of your retirement savings to evaporate.
This is a big deal...and is the next ‘economic bomb’ that lawmakers built into the economy.
No, this economic hardship that Biden and the democrats have visited upon us since 2021- which was all completely unnecessary- isn’t over-and more looms.
This week, Wall St Journal editors predicted that-we won’t see a recession in 2024. It’ll just feel like one.
Great.
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