I’m not a big Mitt fan but if there was ever a time for the National GOP and Donald Trump to run a play out of the Mitt Romney playbook it’s this week.
The DESTROY US ALL caucus is already screaming about how this tax bill means we’re all going to die (which was true, no matter the result) and I’ve already noted that there is a provision for people to donate money to reduce the public debt.
But that’s not the same as paying a legal tax rate so I think the GOP and Trump should give the left a chance to really put their money where their mouths are by doing what Mitt Romney did in Massachusetts concerning taxes back in 2000.
When he reduced out tax rate from 5.85% to 5% the law allowed companies and individuals to pay the old tax rate and every year a few tax payers choose to do so. As the state puts it:
Taxpayers have the option to pay a higher tax rate on certain types of income. Taxpayers may pay 5.85% as opposed to 5.1% on the following types of income:
Form 1 or 1-NR/PY income after exemptions:
Form 1, Line 19 or
1-NR/PY, Line 23.
Schedule B interest and dividend income:
Form 1, Line 20 or
1-NR/PY, Line 24.
Schedule D net long-term capital gains: –
Schedule D, Line 20.
Since so many liberals are so upset over this tax bill I’d give them a similar out.
I would introduce a bill in the house allowing the old 35% tax rate to apply any corporation that wishes to pay it. Such a bill should fly though the house and the senate and would likely arrive on President Trump’s desk in time to sign with the 1st tax bill.
Such a law would be a great chance for Microsoft or Ben and Jerry’s or Amazon or any California and/or Hollywood corporation in terms of virtue signaling. With the check of a single box on their corporate tax returns they can make sure everyone knows just how much they really love america as opposed to those nasty conservatives. It’s virtue signaling at the absolute highest level possible.
And If I’m Donald Trump I’d make sure every single one of those corporations get a chance to do so every year or be called out every year if they don’t.
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