CAL THOMAS COMMENTARY AUGUST 24, 2022
HERE’S A UNIQUE IDEA. VIRGINIA HAS A TAX SURPLUS OF $3.2 BILLION AND REPUBLICAN GOVERNOR GLENN YOUNGKIN WANTS TO GIVE TAXPAYERS A REFUND WHILE REFORMING VIRGINIA’S TAX CODE. HE ALSO WANTS TO CUT TAXES EVEN FURTHER. IMAGINE POLITICIANS GIVING MONEY BACK TO PEOPLE WHO EARNED IT!
THE GOVERNOR, WHO I AM SCHEDULED TO INTERVIEW TOMORROW IN RICHMOND, SAID DESPITE THE BRIGHT ECONOMIC PROSPECTS IN THE STATE, VIRGINIA HAS YET TO RECOVER 119,000 OF THE JOBS LOST IN THE EARLY STAGES OF THE PANDEMIC. YOUNGKIN CONDEMNED FEDERAL POLICIES HE SAID HAVE “CREATED” THE CURRENT INFLATIONARY ENVIRONMENT.
ONE DOESN’T HAVE TO HAVE A DEGREE IN ECONOMICS TO UNDERSTAND THIS: LOW TAXES MEAN MORE MONEY IN THE POCKETS OF INDIVIDUALS AND FAMILIES, HELPING THEM TO MAKE DECISIONS THEY BELIEVE ARE IN THEIR BEST INTERESTS. IT ALSO TRANSFERS MORE POWER FROM GOVERNMENT TO INDIVIDUALS. THAT’S CALLED LIBERTY.
THIS IS NOTHING NEW. CUTTING TAXES, WHILE ALSO REDUCING SPENDING, HAS ALWAYS RESULTED IN STRONG ECONOMIES. IT DID WHEN PRESIDENT KENNEDY CUT TAXES AND IT DID EVENTUALLY AFTER RONALD REAGAN CUT TAXES, THOUGH HE LATER IN HIS ADMINISTRATION AGREED TO SOME TAX INCREASES.
GOOD FOR VIRGINIA AND ITS REPUBLICAN GOVERNOR, WHO I THINK HAS A BRIGHT FUTURE. I’M CAL THOMAS.
