President Trump was wise not to focus on targeting flash-in-the-pan fads popular with Democrats, like eliminating the mortgage interest deduction or changing the current capital gains treatment of private equity carried interest. Here's why. Tax hikes like that do little to raise real revenue and hurt American entrepreneurial investment.
Now, it's up to House Ways and Means Committee members, like our own congressman, Rep. Tom Rice, to find the budget cuts to make tax reform a reality instead of clinging to tired and uninspiring approaches like tax increases, which Rice has begun to embrace.
Tax reform is the single vehicle that can get our economy moving by growing jobs here in South Carolina. I hope Rice is listening and will focus on budget cuts, not special interest tax hikes, to make America more competitive again.
Rice’s recent infatuation with raising taxes on investment partnerships is puzzling. I, for one, hope he abandons his current approach and implements something that’s a little more friendly to local retirees. After all, aren’t conservatives supposed to oppose tax increases?
Dennis Salerno, Murrells Inlet