☕ Adonis Hoffman writes about Jack Kemp, supply-spiders, and tax reform in this piece for The Hill:
The Economic Recovery and Tax Act of 1981 was the successful scion of Senator Bill Roth and Representative Jack Kemp. Kemp – Roth, as it became known, was the centerpiece of tax reform during the Reagan years, and served as a model for how the United States could deliver tax relief to both the business sector and the American people at the same time. It fostered an era of impressive economic growth and prosperity that many pine for today.
But that was long ago in a faraway galaxy. Today’s tax reform mandate, while no less compelling, is far more complicated.
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Of course, Jack Kemp’s brand of statesmanship has been long since absent in the Capitol. He was one of the modern-day leaders who connected the principles of conservatism with caring for the little guy. Nowhere was that more manifest than tax policy, where Kemp went the extra mile to make sure the needs of small businesses were attended. It was a welcomed view among harder-line Reagan Republicans and supply-siders who, up to then, showed little concern for small and minority firms. It should be a welcome view for the businessman-in-chief, as well.
To be sure, the current tax reform debate is a work in process. Before it is over, there will be many fits, starts, twists and turns that will lead – we hope – to a comprehensive, bipartisan tax proposal. We do not know what form that will take, nor who will emerge as the tax reform leader.
Whatever happens along the way, one thing is for sure: if America is to be great again, tax reform must provide a special measure of relief for small and minority business. The future of the nation depends on it.
☕ Hilarious tweet by Dr. John Rutledge. Taxes ALWAYS matter.