Research Log #7

Christian Arakawa

6 December 2017

EQ: What are the foundational differences between the primary political parties in America
Three points to prove #1: Each political party differs in their fiscal policies.
#2: Each party focuses on a specific voter base that drives its social issues
#3: The political parties have different stances on the military and diplomatic issues.
Point that this Source/Information Proves: Each political party differs in their fiscal policies.
Excerpts (These should provide insight into the designated Point to Prove):
“A great national debate now begins. It should not be a partisan debate, for the authors of tax reform come from
both parties, and all of us want greater fairness, incentives, and simplicity in taxation,” ~ Ronald Reagan
(quoted by Senate Democrats)
Here's the reality. You know, after Trump and people like Senator Cruz go around saying, oh, it's mostly the
workers and the farmers and the ranchers who are going to pay the estate tax, Steve Mnuchin, who is our
secretary of Treasury, this is what he said, and I quote, "Obviously the estate tax, I will concede,
disproportionately helps rich people." ~ Senator Bernie Sanders (I-VT) (CNN Town hall debate: the fight for
tax reform)
There are some Republicans who say that any time you raise new revenue, you have to have a tax cut to match
it. I am not one of those Republicans. ~ Senator Jeff Flake (R-AZ)

want to reform the tax code so that it's simple, fair, and asks the wealthiest households to pay higher taxes on
incomes over $250,000 - the same rate we had when Bill Clinton was president; the same rate we had when our
economy created nearly 23 million new jobs, the biggest surplus in history, and a lot of millionaires to boot. ~
45th president of the United States, Barack Obama

WHAT PEOPLE REALLY WANT IS FAIRNESS. THEY WANT PEOPLE PAYING THEIR FAIR SHARE
OF TAXES.” ~ 45th president of the United States, Barack Obama
Analysis (How does this source support the Point to Prove?):
Last month, the House of Representatives passed their idea of tax reform. Last week the Senate passed
their own form of tax reform. With this, the Republican party was able to garnish their first major victory this
year (assuming that President Donald Trump signs the bill into law). While the Republicans raved about how
this deal would help single parents, they also said the bill would give every family $2,200 to spend on
"whatever they want". The Democrats on the other hand believe that the tax bill will hurt the poor and middle
class. They also believe that it will cause the national debt to raise by over an estimated $1 trillion in just ten
years (CBO).
When speaking of tax reform, the Democratic party has their own idea of what is best for the people.
During President Obama's term, he cut taxes for every working family. It allowed for every family to save an
average of $3600 a year. This allowed families that were in the poor to move up to the middle class. In the
recently passed senate tax bill (HR1) the CBO states that over a course of 10 years $1.4 trillion. The Democrats
argue that the new tax bill will cut taxes for the wealthy. On average, a person making over 500,000 a year will
pay an average of $36,000 less every year of taxes. The child tax has been raised by $1,000 and working middle
and poor class family will see an average tax rise of about $2,200.
When the tax bill passed, Republican's ranking for the House of Representatives to the President were
"giddy." This was the first major win in one year for the Republican party. The Republican party raved on how
this tax bill puts "America first" and benefits the people and the country. Over four years, business will see a
20% drop in asset purchases. Taxes will drop from 100% to 20% bringing in less revenue for the US
government. This bill also helps the super-rich save an average of $36,000 a year on tax breaks. Another major
deal is that this tax bill lowers the cooperate tax from 35% to 20%. This bill heavily favors American business
(hence "America first") and the people with more money.
Source
Baldwin, Garrett. "Modern Trader's 2017 Economic Roundtable Heavy Lifting on Capitol Hill:
Republicans Turn to Tax Reform. (Cover Story)." Modern Trader, Aug. 2017, pp. 26 39.
EBSCOhost, search.ebscohost.com/login.aspx?
direct=true&db= b9h&AN=125215573&site=ehost-live Accused December 6, 2017