I bring up tax reform again to remind us all that it’s been 30 years since Congress passed a tax reform plan this big. Thirty years!
That means the package they pass this year could well dictate how much tax we’ll pay for the rest of our working lives. And yet we still have no way of knowing how much we’ll pay.
We have Democrats warning that taxes will go up.
We have Republicans promising taxes will go down.
But there’s no way to know whether your own family wins or loses.
The president’s top economic adviser is promising the cut in corporate tax rates will make everybody a winner.
“We create wage inflation, which means workers get paid more, the workers spend more, and we see the whole trick down through the economy…”
But he used the phrase “trickle down.”
“Trickle” implies the benefits are going to take a while. On Thursday, I begged Congress to send all of us that new tax postcard before they vote on it so each of us can beta test the plan and see what we have to gain or lose – while we wait for the trickle to drip its magic.
And I’m getting worried because on Thursday, during his news conference, Speaker Paul Ryan reached for the postcard which he always carries with him and couldn’t find it.
“Oh, I lost my postcard. Geez. I feel naked without my postcard in my pocket.”
Find that postcard, Mr. Speaker, and let us fill it out before you vote.