🇺🇸 Doomscroll News

Tag: tax reform

  • The Phoenix Plan: A Blueprint for American Rebirth

    The Phoenix Plan: A Blueprint for American Rebirth

    Prioritize national strength, economic independence, and internal order.

    Core Principles

    • Competent Government: Before voting on any bill, members of Congress must have one week to read it and pass a test to prove they understand it.
    • “Fortress America” Economy: The plan aims for a self-reliant economy. This includes:
      • Taxes: Making current individual tax rates permanent while eliminating special-interest loopholes, the Child Tax Credit, and complex corporate taxes.
      • Trade and Investment: Using tariffs to protect critical industries and offering residency to foreigners who make multi-million dollar investments in the U.S.
      • Ending Corporate Crime: Forcing companies to be specific about how they use investor money. Seized assets from convicted executives and banks will fund their own prosecution and imprisonment.
      • Nationalizing Crypto: Making all private cryptocurrency transactions illegal. The entire crypto system will be seized and reserved as a financial weapon for the military to use only during a declared war.
      • Honest Money: Transitioning away from the Federal Reserve to a system where the U.S. Treasury issues debt-free money directly.
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  • Business Tax Devolutions: A Critical Dissection of Title XI, Subtitle B, Parts 1 & 2

    The recently proposed business tax measures under Title XI, Subtitle B, Parts 1 & 2, are presented as beneficial reforms. However, a closer examination reveals a series of provisions that range from questionably effective to deeply detrimental to American interests and fiscal responsibility.

    Sec. 111001: Extension of Special Depreciation Allowance (Bonus Depreciation) – A Recipe for Misallocation

    This section proposes extending 100% bonus depreciation for property acquired after January 19, 2025, and placed in service before January 1, 2030. This isn’t sound economic policy; it’s a blatant handout, likely to benefit well-connected insiders. Reports of companies already stockpiling assets suggest this will merely accelerate a pre-existing rush to capitalize on a temporary distortion. Such a policy actively encourages a misallocation of resources, incentivizing potentially unnecessary capital expenditure over more sustainable investments or debt reduction. It’s a short-sighted pump for certain sectors that will only exacerbate our national debt, not alleviate it.

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  • Reforming Individual Income Taxes: A Focused Approach (Part I of a BBB Critique)

    The current discourse around individual income taxes is cluttered with temporary fixes, unpopular mandates, and provisions that miss the mark for many Americans. Instead of a sprawling bill, a more focused approach is needed, prioritizing permanent, common-sense changes while jettisoning controversial or ineffective measures. Here’s a look at what such a refined individual income tax bill should, and shouldn’t, include.

    Core Tax Provisions: Stability and Simplicity

    At the heart of a sensible tax reform should be the permanent extension of several key provisions initially from the Tax Cuts and Jobs Act (TCJA). This includes making permanent the modified individual income tax rates, the increased standard deduction, and the termination of personal exemptions. These measures offer a baseline of stability for taxpayers.

    However, the idea of a temporary enhancement to the standard deduction, proposed for taxable years 2025-2028, should be rejected. Such short-term measures are often gimmicks, creating fiscal uncertainty and providing future leverage for increased government spending without addressing the immediate need for significant fiscal discipline now.

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