Tax Reform for Julia | The Heritage Foundation

Tax Reform for Julia | The Heritage Foundation

Julia and her husband, James, are worried about their future. James lost his job and can’t find work. Julia has not received a raise in many years and is unhappy at her job. They are struggling just to make ends meet and provide for their children. Every year, the government takes more of their hard-earned money. Money that they would like to use for things like a vacation ends up going to Uncle Sam. But things could change for Julia and James. Congress is talking about updating the tax code. Recent analysis shows the economy could grow significantly larger because of tax reform. In time, the average American family’s wages could rise by more than 7.5 percent. That would be almost $4,000 extra in the pockets of families earning $50,000 per year. Under an updated tax code, businesses could add 1.7 million new full-time jobs. That means that James could find a job to help support his family. Julia could get a raise and a promotion at work. Not only can they start saving for a vacation … But they can save for their kids’ college fund as well. Julia and James would be able to do things like renovate their home or buy a new car. Imagine this, Julia could turn her hobby into a small business. She could even quit her boring desk job and become happily self-employed. Tax reform means greater financial independence and opportunity for Americans at all income levels. Just think how it could help you.

Comments (3)

  1. Again, total horseshit. The average family will get a tiny tax break while the 1% get an enormous break. Want to really help the middle-class? Get rid of corporate welfare programs for the oil industry and walmart, close tax loopholes and raise the highest tax rate to something like 45% or more. Take the tax burden off of them and then you'll see a difference for lower and middle income families.

  2. Hi! Thank you for this informative pod cast. I agree with the presentation. The power to tax is the power to destroy. Tax reform is necessary to stimulate the economy. It creates incentives for individuals to be creative and bring new products to the economy. The real value of tax reform it raises more federal taxes; more jobs are created. It helps build the infrastructure of our entire nation.

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