Thank you, Sen. Daines, for ignoring liberal worn-out talking points stating tax cuts for small businesses do not create jobs. They do!
As a small business owner, I am already moving forward with plans to hire and train more Americans and make capital investments in our business. Business owners RISK their hard earned money to open a business and that risk necessitates a profit. Lower taxes increase profits, which increase risk appetite, which creates more jobs, which drives up lower and middle-class wages.
Compare GDP during President Reagan to President Carter. The large Reagan tax cut is what fueled the technology research and innovation and subsequent boom in the late 1980s and ’90s.
High taxes do just the opposite. They lower return and stagnate growth. This is what happened recently under President Obama.
Liberals are for wasteful big government. If you think big government makes everyone better off, take a look at Venezuela and see how the move from capitalism to socialism has worked for them.
Liberals say the rich get a larger tax cut. That is true, but they don’t tell you why. In 2016, the top 1 percent of American wage earners paid almost 40 percent of all personal income taxes in the country. Therefore ANY tax cut will benefit them more than a family that doesn’t pay any taxes (45 percent of families pay NO INCOME TAX).
Montana is a tourist destination. Until recently, our family has been Montana tourists. With tax reform likely, we recently purchased a winter home in Whitefish, bought a car, furniture and hired local contractors. This is tax reform money that is directly creating jobs in the valley.
Montana is fortunate to be represented by Sen. Daines. He understands that people in Montana want good-paying jobs, not D.C. handouts.
Jim Farley is a Whitefish resident.