Senator John Thune at Americans for Prosperity SD luncheon on tax reform

South Dakota’s senior United States’ Senator and Top 3 Republican Senator John Thune was hosted today by South Dakota’s chapter of Americans for Prosperity for a discussion on the Senate’s version of Tax Reform.

Senator Thune addressed a packed room of nearly 200 people including several legislators from across Eastern South Dakota about the Senate’s version of the tax reform plan, which he noted as reducing the average family’s tax burden by an estimated $2200 yearly…

As well as providing fuel for our nation’s economic engine…

In terms of the why the package addresses the individual mandate of health care, Thune noted that as part of the package, doing away with the Obamacare tax mandate frees up additional funds for tax relief, which they were able to direct into middle income families.

Senator Thune also took questions from the audience, and noted at the Luncheon that one of his signature issues he’s been fighting for over the course of the years he’s been in the public eye is a balanced budget requirement. In fact, Thune noted that as many states have, our nation should have included the requirement for a balanced budget in the US Constitution.

All in all, a great event from the South Dakota Chapter of Americans for Prosperity. Thanks!

25 Replies to “Senator John Thune at Americans for Prosperity SD luncheon on tax reform”

  1. Anonymous

    Sun setting a tax break for those making $20 – $30k after eight years is deplorable!! Those Americans will be paying 25% more federal taxes; the same rate Europeans pay. But Europeans taxes include universal healthcare, college tuition, retirement pension, paid vacation, child care and family leave. All Americans will get is a trillion dollar cut to MEDICAID and a multi billion dollar cut to Medicare. Boo AFP!!

    Reply
    1. KM

      Don’t forget European’s tax dollars also pay for the mass migration of unskilled workers. Last I checked, Germany was attempting to find new ways to tax citizens because someone has to pay for the migrant crisis; a petrol tax I think it was.

      Tsk, tsk, it’s misleading when you leave out facts. Some might even call that lying.

      Reply
  2. Dave R

    Tax cut bill is a major improvement. Our growth rate is unacceptably low. We need to get government off people’s backs so they can provide.

    Reply
    1. Anonymous

      Then why end the tax cut after eight years for us (the spenders, who really create jobs.) and extend it forever for the already rich? Because Trump’s only in it for himself!!

      Reply
          1. Anon

            Because you cant add to the deficit after the ten year window when you go through reconciliation (as noted above) and the middle/upper middle class pay the majority of income taxes. So ten years down the road they can re-approve the tax cuts (Like they did with the Bush tax cuts).

            Reply
    2. Anonymous

      It will not be an improvement for me as a self-employed person; I will be paying more, and I am not wealthy. It seems a lot more money going to those who don’t pay taxes in the first place and it is going to be on my back.

      I’m surprised this is the best the Republicans can do; it makes me wonder why I even bother to vote.

      Reply
      1. Anon

        Well I just don’t get it then, Anonymous at 12:32. If you are not wealthy then you are not filing itemized returns. Only rich people get any benefit from itemizing, only rich people deduct mortgage interest and local and state taxes. It comes out betwen 30-40% of households bother to file itemized returns, and the wealthier you are, the more likely you are to file that way. Poor people take the standard deduction. Everybody who takes the standard deduction will get a tax cut.

        Reply
    1. Anonymous

      Leave it to Jaa Dee to cite a source that everyone but wacky liberals knows is full of lies in its supposed analysis of reports by conservative. Predictable and laughable!

      Reply
      1. Anonymous

        Leave it to Jaa Dee to cite a source that everyone but wacky liberals knows is full of lies in its supposed analysis of reports by conservative groups. Predictable and laughable!

        Reply
  3. Jaa Dee

    FP serves as the Kochs’ “grassroots” operation, also known as astroturf. AFP spends millions on TV ads in election cycles. In the 2012 election cycle, it was a key component of the Kochs’ $400 million political network, receiving large portions of its money from Koch-linked dark money groups like Freedom Partners, American Encore, and Donors Trust. AFP’s budget, which comes from the Koch family foundations and other unknown sources, surged from $7 million in 2007 to $40 million in 2010 to $115 million in 2012. According to the Center for Public Integrity, Americans for Prosperity “spent a staggering $122 million (in 2012) as it unsuccessfully attempted to defeat President Barack Obama and congressional Democrats,” including $83 million on “communications, ads, and media.”

    Reply
  4. Emoluments Clause

    “Obamacare tax mandate frees up additional funds for tax relief..”

    Well, in theory you can end all kinds of federal programs to “free up additional funds for tax relief.” But why would you want to do that to ObamaCare, when you fellow South Dakota Senate colleague, Senator Rounds, has been working with Democrats to shore up the ObamaCare insurance network, which is highly dependent upon the mandate and a corresponding subsidize to make it work?

    “…reducing the average family’s tax burden by an estimated $2200 yearly…”

    Oh really? According to a Time calculator on the Senate version, a South Dakota household would have to make $ 165,000 a year to realize a $ 2200 tax reduction with the Senate bill. I also question if households at $ 165,000 per year are living pay check to pay check as you suggest many are doing in South Dakota, in order, to further justify your current support for the Senate tax bill….

    In fact, the pay check to pay check households most likely make $ 40,000 or less per year, and are likely to only get a tax relief of $ 400 or less per year; which might help out one of those two week periods between checks….

    http://time.com/5030046/how-would-the-senate-tax-bill-affect-you-find-out-with-this-simple-calculator/

    Reply
  5. Troy Jones

    EC,

    Most of your analysis is correct. The tax reform package has little impact among the various brackets- slight cuts where the largest percentage of tax reduction is in the lower breakers (but not significant).

    The thrust of the tax reform is to modernize the tax code to reflect the shift to a more knowledge-technology economy and stimulate greater growth (and better jobs) by making US manufacturing more competitive in the world.

    Ironically, the Dem mantra of just say no is saying yes to economic stagnation which hurts the poor and adds to income inequality. I am wholly convinced Dems/liberals are in three camps.

    1). Those who prefer their privilege of being boss over the interests of the poor or

    2). Those who hate the poor

    3). Those being manipulated by #1 and #2.

    There is no nuance left.

    Reply
    1. Emoluments Clause

      But the current corporate tax rate, after current loopholes, make us very competitive with the rest of the world. So if lower tax rates, without the loopholes, is going to cause the creation of better jobs in the US, then shouldn’t that already be happening?

      Reply
  6. The Sage

    I don’t even want to hear Sen. Thune’s lip service to a balanced budget. This tax plan is the opposite of a balanced budget – increasing the national debt by $1.5 trillion above what it would be without this tax plan.

    Removing the Obamacare individual mandate is irresponsible without a replacement for Obamacare. Removing the mandate creates uncertainty in the insurance marketplace, and combined with President Trump’s attempt to not pay subsidies will result in individual insurance premiums skyrocketing.

    The Republican Party has become the party of fiscal irresponsibility.

    Reply
  7. Troy Jones

    EC,

    1) The loopholes are distortive and only benefit some companies.
    2) They are costly to administer and document qualification
    3) They incentivize debt vs. equity as interest is deductible and dividends are taxable.
    4) They penalize income (39% tax rate) vs. capital gains (20% rate) which distorts the capital expenditure decision making to a shorter-term mentality.
    5) The net effect of the loopholes don’t equal the benefit of the lower rate.

    Reply
    1. Emoluments Clause

      Troy,

      I have a feeling you and I could debate this into eternity, but I still have leaves to rack. So let me just ponder this, it is obvious that in incremental stages the GOP is trying to get rid of the income tax by excuse, but if they ever succeed at that, then how will we then manipulate or stipulate the economy in the absence of an income tax? That is if there is truly a relationship between taxes and economic development….

      Happy Thanksgiving Troy, and everyone else as well, you too KM 😉

      Reply
  8. Troy Jones

    EC,

    Happy Thanksgiving. I presume your question was rhetorical as I don’t consider the hypothetical to be realistic today or in the next decade and looking that far out is just idle speculation.

    Regarding your comment about a link between taxes and jobs, there are few (if any) economists (even liberal ones who aren’t socialist/communists) who don’t assert there are levels where taxation impedes the economy, growth, and jobs. And even the socialists/communists join all other economists that taxation can be used to stimulate or impede certain types of economic activity.

    So if you believe there is no relationship, you are on an island with no economists.

    Happy Thanksgiving to you too. We all have much to be grateful for. This is a great country with great people.

    Reply

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