Tax reform is on the minds of many Republican candidates, and that’s a good thing. Donald Trump revealed a plan, suggesting he may be a serious candidate after all. This announcement came as his poll numbers were slipping, so we may have a hint what voters think about actual policies. Jeb Bush released his plan earlier this month with the distinction of being called “weird”.
The point is that we are talking about taxes and serious tax reform, which is good. No one should expect one plan to suddenly spring forward and cut through the elaborate mess we have. Then again, once the knife is out, you could carve a better tax code out of a banana. But what really is needed? What is “simplification” or “reform”? Let’s start at the beginning.
When Pope Francis came to visit Congress, everyone knew something big was going to happen. Causing Speaker Boehner (R-OH) to have an epiphany and resign was not on anyone’s list.
But, there you have it – a Pope that works strange miracles.
To say that in the aftermath all Hell will break loose depends on whether your definition of Hell is complete inaction (it probably should be). By that standard Congress has been deep in the fire for a long time so we can’t blame Boehner for seeking a cool escape once he was touched by His Holiness. But is there a way out for the rest of us?
Before we can call the economy “good”, we have to be in a situation where good news is taken as unvarnished good news. And that seems to have finally happened.
Janet Yellen outlined in great detail exactly why interest rates not only have to start rising by the end of the year, but why they have to go up to around 2% before the Fed is done. The market responded positively, getting another shot of good news this morning. Has the monkey of cheap money finally been scraped off their backs?
The focus on his Holiness revolves around his challenges to the American right, something that largely misses the point. There will be admonishments to the left as well when he addresses Congress and the people of our nation – and those will likely be reported with a hint of glee in the press as they search for an “objective” sense of “balance”. But that, too, will miss the point.
Francis challenges all of us to step outside of our bizzy lives and see the world as a beautiful place. The message is that it is time to stop and see creation for what it is.
The long election season should, if anything, bring clarity to what we can expect starting in 2017. The next year will give us a lot of information as the campaigns coalesce. The candidates should at least give us the boundaries of what we can expect in terms of policy regardless of who is elected.
There are many things that are well known already, such as the retirement of Baby Boomers and a lot of reasons to believe that this will be a relatively good time economically. Add to that list a lot of reason to believe that taxes will rise. Why? Because the pressure is completely off the Republican Party to hold the line.