The Republican plan to change our tax system is bound to adversely affect middle class families and put the country into even more debt, asserts Jason Furman of Vox. As the GOP still hasn’t revealed how they plan to finance their tax cuts, this burden will likely fall on the deficit and future generations. This plan would disproportionally benefit the richest Americans while, on average, making things worse for families in the bottom 90% of income distribution. Republicans have simplistically said that lower taxes are better for the country, with little regard for how they will subsidize them. This plan would be bad for the vast majority of Americans, while racking up needless debt.
The American tax system is in dire need of reform. Republicans are trying to improve it to the benefit of all Americans, writes Stephen Moore of The Washington Times. Our highly inefficient current tax code is 82,000 pages long and so complicated that only tax lawyers can decipher it. Families collectively waste huge sums every year just trying to figure out how much they owe. The GOP wants to loosen it in the right ways that will liberate growth and benefit the economy. Freeing up American businesses will allow them to create more jobs. High corporate taxes are nothing but a weight on the country’s shoulders. The Republicans plan is highly needed.