President Trump: Tax and Spending Reform, A Moment for Serious, Responsible and Bold Change
I find the tax reform plans of the Republican Party confusing. As a financially responsible person and former business executive, I donâ€™t understand a major federal tax overhaul plan that isnâ€™t also tied to comprehensive reform of government expenditures. Total federal debt is now over $20 trillion and growing at an alarming rate, which approaches $70,000 per American. Serious people live within their means and analyze their earnings and savings, together with their expenditures, to include debt payments.
President Trump is coming to Harrisburg tomorrow, Wednesday, October 11 to boost his tax reform plan. I hope he will speak about linking tax reform with an ambitious reform of the role of the federal government.
Yes, major tax reform is necessary and long overdue. Lower taxes will increase growth, but growth alone will not offset all the lost tax revenue. Without spending reform, the annual deficit and total national debt will continue to grow. Most economists agree that our national debt is approaching alarming alarming levels and must be fixed with spending reform. The most alarming growth in expenditures comes from safety net expenditures, which are forecasted to rise to over 70% of our annual spending over the next few years, leaving very little left over for the military and all other essential federal spending.
Why not a more deliberative and ambitious approach that links spending and tax reform? Americans understand a responsible household budget. So letâ€™s put together a comprehensive plan that proposes spending reform directly tied to tax reform. Spending reductions and reform could be introduced with a reasonable transition period to minimize the impact of the change. If such a common-sense proposal were presented, it would make sense to Americans and could build momentum for the hard negotiating and compromises that are always essential to pass momentous legislation.
In essence, Republicans could seize the initiative and be compassionate yet responsible, practical doers. Comprehensive and linked spending and tax reform could truly lead to dramatic growth and would be politically smart.
I believe President Trumpâ€™s election victory was all about Americans demanding big, momentous change and the end to â€œbusiness as usual.â€ Bold liberals like Senator Bernie Sanders and Senator Elizabeth Warren also understand that â€" but their offerings will be a modern version of socialism. It is essential that serious Republicans offer Americans what I believe they really want — true reform consistent with free markets, a compassionate and cost-efficient safety net, and American traditions. If Republicans act decisively and responsibly, I believe we will enhance the quality of life in America and rejuvenate our party.
It is time for a serious debate and a showdown about Americaâ€™s future. Serious Americans are demanding this debate.
I believe Republican members of Congress and congressional aspirants should have the courage to aggressively offer comprehensive and workable agendas and not just slogans.
— A resident of Delaware County, Paul Addis is a retired energy company executive and Republican candidate for U.S. Senate.