This is an opinion piece.
I love some of the ideas coming out from Trump N.o tax on over time encourages people to work over time – to add productivity to our economy. No tax on social security is totally appropriate given you already paid income taxes on those dollars! (Taxing social security is a double tax.) And no tax on tips is brilliant. Not only is it good politics, but it’s also good economics. (Although it may not be good for the ever expanding and larger government and IRS agents, but too bad for them.)
As Reagan demonstrated, good economic policy can be combined with foreign policy to prevent wars and destroy tyrants. Example – Reagan ended Carter’s policy of subsidizing the Soviet Union with cheap grain sales. Boosting our Cold War enemy by shoring them up with cheap food was an insane idea. Reagan instead brought pressure to bear on the Soviets by forcing them to over spend on war goods, which bankrupted them.
In order to do that, Reagan had to rebuild our military and in particular the Navy after Carter starved the military of ships, planes and weapons needed to defend us. But in order for Reagan to be able to do this, he needed a strong economy to generate massive tax revenue without over taxing Americans.
He achieved that by super charging the economy with low tax rates, reduced regulation, lower oil prices, allowing lumbering the in the forests and so much more. The economy took off and tax revenue started flowing in (after a brief dip as it does take time for the effects of a new tax policy to take shape).
Trump could do the same thing. Rather than threaten China over Taiwan to try to prevent Zi’s upcoming invasion, Trump should put pressure on the Chinese economy by imposing high tariffs on their cheap crap, err, I mean, their products. The Chinese economy cannot survive without the U.S. market. Collapse their economy and there will be so much pressure put on Zi that his politburo will throw him out, either that or the Chinese people will over throw him. Voila, no more threat of an invasion of Taiwan.
Likewise, I love Trump’s idea of a reduced corporate tax on corporations that manufacturer their products in the U.S. That would have to be real manufacturing here, not phony assembling of parts made over seas. (Instead of handing out billions in taxpayers dollars to the chip industry, all Biden had to do was lower the taxes on chips made here to create the incentive and then add in the bonus that the U.S. government would only buy chips Made in America. Likewise, a tax credit provided to companies that buy only U.S. made chips would also do the trick.)
You want to solve the doctor shortage in rural America? Simple. No tax on doctor’s incomes for every year they practice and live in a rural town, up to 10 years, and add in no income or corporate tax on clinics and hospitals built in rural America, including no sales tax on the construction materials. Throw in the bonus of reducing the student debt each year on doctors who practice in small towns. It’s simple.
But what about the ‘tax loss’ to the government, say the liberals. Let me clue you lefties in. IT’S NOT ABOUT THE GOVERNMENT. It’s about the people! The only way to reduce the size of government in scope, regulation, etc. is to cut off the heroin, i.e. cut off the supply of taxpayer money to the government. Money is the oxygen of government. Give the government more money and the bigger it gets. Same with universities.
Certainly more and more money to public schools has NOT led to better outcomes; in fact, there is absolutely no disputing that more money to public schools has led to worse outcomes, lower test scores, and a lack of educating our children.
One thing is for sure, more scrutiny is needed into government funds being used for illegal aliens in the form of hotels, food, transportation, debit cards, etc. Congress authorized expenditures which are distributed by Biden-Harris’s FEMA, but Americans are right to question these priorities.
The problem with the current flood insurance program is that it’s only sold to property owners that are in flood zones, so it’s adverse-selection; selection of high risk properties that will have high claims while properties at little risk don’t buy the insurance and don’t pay into the system. And it’s only flood insurance, where there are many different kinds of natural disasters.
What the federal government should do is replace the flood insurance program with a national natural disaster insurance program. In other words, the insurance would cover all types of natural disasters; hurricanes, flood, tornado damage, wild fires, etc.
And every home owner and apartment building would be required to buy the insurance so everyone is paying in, but it would be done through the private sector with the federal government covering the bigger costs.
Example – The private sector insurance companies would cover the first part of the risk (using higher deductibles like $5,000) up to $100,000, while the federal government would cover, say, claims from $100,000 up to $5 million. With everyone paying in, the risks of paying out on natural disaster claims would be covered by the large number of customers.
The insurance companies would pay part of the premiums into the national insurance fund (just like the FDIC for banks) to cover the higher risk and the federal government would only step in when there is a shortfall.
Wisconsin Right Now is a news organization focused on covering the news from a conservative point of view, in particular on politics and policy issues through analysis and opinions, and is protected by the first amendment of the United States constitution. WRN does not make endorsements of candidates or direct readers to vote for or against any candidate or issue. On October 18 and November 23, 2023 Donald Trump tweeted out on Trump’s Truth Social account T. Wall’s October 6th column on Trump’s property valuations. T. Wall has appeared on Fox News, Jesse Waters Show on Fox, Newsmax, CBS, NBC, Spectrum News 1, USA Today, X.com, YouTube, and numerous Madison and Milwaukee news programs and local newspapers (Wisconsin State Journal, Capital Times, Middleton Review, Middleton Times Tribune, and Milwaukee Journal Sentinel and a dozen other Wisconsin papers) and previously wrote a column for InBusiness magazine and the Middleton Times Tribune for five years each. T. Wall holds a degree from the UW in economics and an M.S. in real estate analysis and valuation and his full time career is as a real estate developer. Disclaimer: The opinions of the writer are not necessarily those of this publication or the left!
