Las Vegas Sun

March 29, 2024

Letter to the editor:

Overhaul will spur economy

So Democrats are outraged by the new tax bill. They need to take a basic course in economics.

Small-business employees are the majority of the workforce. The tax reductions they will be receiving will allow small-business operators to increase wages and expand business. This has been repeatedly expressed by small-business owners.

As to reducing the corporate tax rate, this will also be a big break for the middle class. It will reduce the cost of goods and services.

Democrats need to understand what goes into the cost of goods and how capitalism works. By reducing the corporate tax, the cost of manufacturing and the many cost elements that go into the final selling price of a product are reduced. These savings are passed on to the consumer if the manufacturer wants to stay competitive.

As to the cost of $1.4 trillion dollars, this is a factious number. What is not being taken into consideration is the increased revenue to the government created by the expansion of the economy. If Democrats would take a history lesson, they would learn that tax cuts work. John F. Kennedy proved it, and so did Ronald Reagan. The Democrats also fail to acknowledge the $10 trillion increase in our national debt by the former administration, with nothing to show for it.

Democrats need to become more proactive instead of the knee-jerk reaction to all proposed legislation. The middle class is not as dumb as they would like to think.