https://oceanstatecurrent.com/wp-content/uploads/2014/08/mike-stenhouse-avatar.jpg 100 810 Mike Stenhouse https://oceanstatecurrent.com/wp-content/uploads/2021/10/logo_white_300x56.png Mike Stenhouse2017-11-06 06:08:112021-11-08 12:13:26Federal Tax Reform: Ocean Staters, Families, and Businesses To Benefit
Federal Tax Reform: Ocean Staters, Families, and Businesses To Benefit
President Trump’s tax reform plan, released this week, is a winner! Our state’s partisan political class will no doubt trot out their standard, mindless, and divisive class warfare mantras, but having attended two national seminars to learn details of the President’s tax reform plan, I can assure the people of Rhode Island that this sweeping reform plan is indeed designed to mostly benefit the middle-class. It is disappointing that our state’s political leaders would choose to deny Rhode Islanders the chance to keep and make more money just because they are hung-up on an anti-jobs, tax-the-rich platform.
With every Ocean Stater to receive a tax cut – about $1200 for middle-income families and more for those with higher earnings – and with businesses to be similarly less burdened so that they can grow and produce more and better paying jobs … Rhode Islander and their families should benefit in two ways. First, by keeping more of their current paychecks in their own pockets. Second, via future increased wages and better job opportunities as the tax cuts stimulate economic growth.
We have regularly maintained that if more Rhode Islanders are to have more opportunities to work in better-paying jobs, then more and better businesses must be free to grow when more disposable personal and corporate income becomes available to re-invest in business enterprises.
This free-market approach to economic development benefits far more people and creates far more growth than our state’s existing crony-socialism approach.
For too long, there has only been one way of doing things in Rhode Island. We have seen the results in our state’s failed rankings. There are better solutions than the insider system. If only lawmakers were to realize that there are proven free market answers, we could restore prosperity to the Ocean State. It does not have to be this way. I encourage you to speak out and loudly against the way things are in our state.