This interview from this morning with Governor Andrew Cuomo arguing for more redistribution instead of tax reform is quite remarkable. And pay attention to Cuomo’s argument that the blue states were not part of the negotiations. That was their choice. No Democrat, including Chuck Schumer of Cuomo’s New York, wanted to be anywhere near anything like tax reform. For being an NPR interview, there was considerable pushback from the host, and for good reason: Cuomo’s answers were beyond egregious. Here are the show notes, and you can listen here:
Also this morning, NPR has a show called 1A that devoted the entire show to tax reform and what it means for each of us.
Republican Congressman Jim Renacci of Ohio is quite good. Later there is a panel which is 2 to 1, with Alex Brill of AEI as the only sane voice.
John Tamny was on The John Batchelor Show. Listen to it here:
Today’s opinion pages of the Wall Street Journal are worth the price of admission. See Larry Lindsey talk tax reform and see John Tamny talk about debt and the economic future in Puerto Rico.
Expect 3.2% growth, mostly taking the form of higher real wages. It happened in the 1960s.
Wiping out creditors would simply enable more dysfunction.
John Tamny today:
The problem is that policy types from the left and right don’t necessarily see it that way. Washington Post editorial board member Catherine Rampell sees it as unfortunate and irresponsible that President Trump “is hellbent on passing a massive tax cut for the rich.” And while Trump perhaps doesn’t know why such a tax reduction would be great, Rampell should. Rampell as mentioned works for the Washington Post, and because she does is likely more aware than most of the modern difficulties experienced by the newspaper industry. The Post was saved by billionaire Jeff Bezos, Carlos Slim saved the New York Times, and one can only hope that one or a few experimental billionaires will direct their untaxed wealth toward the Los Angeles Times. If Rampell hasn’t picked up a copy of the latter recently, she would likely find doing so illuminating for a read of what was once the world’s most profitable newspaper revealing what the Post might have become absent Bezos.