The problem with politics today is that the truth is often hidden with half-truths.
Mr. Beaudette’s letter “Supply-side economics works” (Nov. 16) is a perfect example. He is correct that the federal tax revenues did increase dramatically during President Ronald Reagan’s years in office, and also during the term of President George H.W. Bush.
What he fails to mention is that national debt rose even faster during this period. Looking at the ratio of federal debt to the nation’s gross income, or gross domestic product (GDP), we see that it fell from 125 percent at the end of World War II to 30 percent by 1980. It rose during Reagan’s term, with the tax cuts, from 30 percent to 50 percent. Continue reading “Shifting wealth to the super rich”
The following article by Sean Miner was posted on the Eden Prairie Sun-Sailor website November 23, 2017:
Retirees protest Rep. Paulsen’s support of tax overhaul legislation
More than 0 men and women, most of them retirees, gathered outside Third District Rep. Erik Paulsen’s office in Eden Prairie Nov. 16 to protest Paulsen’s support of the tax overhaul bill that passed the U.S. House of Representatives later that same day.
The demonstrators, organized by the Minneapolis Regional Retiree Council, AFL-CIO, delivered a letter voicing their displeasure to the letter. Continue reading “‘We Are Angry’”
The following article was written by DFL State Chair Ken Martin:
Yesterday, the GOP-controlled House of Representatives approved their regressive tax plan. This harmful attempt to change our tax code comes at a heavy price for working families across Minnesota.
This misguided measure is reverse Robin Hood. It takes money from working Minnesotans to give to the wealthy. While huge corporations and the 1% would see a massive windfall thanks to this bill, more than one-fourth of Minnesotans would see their taxes rise. By eliminating critical deductions that help taxpayers afford college, offset medical expenses, and buy a new home, this bill would pull the rug out from under Minnesota families.
Congressman Erik Paulsen has been urging us to support the Republican tax plan because it is simpler. He even promised we can spend more time with our families instead of having to do our taxes. However, simpler isn’t always better. Life is complex, and sometimes our tax returns reflect that complexity.
In eliminating complexity, this proposed law eliminates some important deductions. Congressman Paulsen called these “loopholes.” I call them important financial strategies to help us some of us while we are in economic hard times. Continue reading “Letter: A simple tax plan isn’t always better”
The following article by Susan Du was posted on the CityPages website November 17, 2017:
The U.S. House passed the Republican tax bill Thursday afternoon along party lines, though 13 Republicans broke ranks to vote against the proposal.
All three Minnesota Republicans in Congress voted for the tax bill.
The bill contains big tax cuts for corporations and millionaires, which it pays for by eliminating deductions for student loans, medical expenses, and on state and local sales and income taxes.
The Congressional Budget Office estimates the bill would raise deficits by $1.5 trillion over the next 10 years, which Congress will have to pay for. One way to find extra money: cutting the cost of supporting America’s most vulnerable. If the GOP tax bill passes both chambers, the Office of Management and Budget would be required to seize $136 billion from mandatory spending programs like Medicare, which could be slashed by $25 billion in 2018. Continue reading “As Rep. Erik Paulsen votes for tax bill, his staffer stonewalls concerned seniors”
The new tax rates proposed by the Republican House will increase what a typical Eden Prairie homeowner pays in income taxes. Rep. Erik Paulsen is pitching this deficit-busting plan by saying it’s good for everyone. It’s not.
Fortunately, it’s not too hard to check the facts. The median household income for Eden Prairie is $97,600. The median Eden Prairie home value is $303,000. The typical property tax for this home value is about $4,000.
The following article by Cory Zurowski was posted on the CityPages website November 14, 2017:
The ink on the Republican tax bill blueprint was still wet when Rep. Erik Paulsen (R-Minn.) shared morning coffee with MPR’s Cathy Wurzer.
What’s in the GOP tax plan for you? According to Rep. Paulsen, it’s making filing returns so simple you will “complete it on a postcard.” Credit: Star Tribune/Glen Stubbe
It was late September. GOP leaders had unveiled what could become the most significant tax code overhaul in generations, the centerpiece of which is slashing the corporate rate by around 43 percent.
Paulsen, who represents a district that wraps around the western metro from Chanhassen to Wayzata to Coon Rapids, sits on the House Ways and Means Committee, the body tasked with banging out the bill’s details.
NOTE: Rep. Erik Paulsen serves on the U.S. House Ways and Means Committee.
The following article by Ryan McCrimmon was posted on the Roll Call website November 9, 2017:
Chamber’s version differs markedly from Senate proposal
From left, House Ways and Means Chairman Kevin Brady, ranking member Richard E. Neal and California Rep. Mike Thompson attend a committee markup of House Republican tax bill on Thursday. (Tom Williams/CQ Roll Call)
The House Ways and Means Committee on Thursday approved the Republican tax plan after making key changes such as raising repatriation tax rates on corporate cash held abroad, restoring the adoption child credit and changing the bill’s treatment of “pass-through” businesses.
Committee members voted along party lines, 24-16, to approve the legislation setting up a likely House floor vote next week. The substantive changes Thursday came in a so-called manager’s amendment from Chairman Kevin Brady who unveiled the package less than an hour before the panel took it up, prompting an outcry from Democrats.
After the four-day Ways and Means markup, the legislation will next head to the House Rules Committee — likely early next week — where any final changes could still be made by Republican leaders before the bill goes to the House floor later in the week.Continue reading “House Panel Approves GOP Tax Measure”
The tax bill he and his Republican comrades are pushing through Congress was drafted behind closed doors, with no hearings and no input from Democrats.
Paulsen, Trump and the other Republicans have forgotten that trickle-down economics have not worked in the past and certainly did not work in the 1980s when Reagan foisted them upon the country. Reagan’s own budget director, David Stockman, even authored a book admitting they do not work. Continue reading “Letter: Trickle-down doesn’t work”
