Whether you are a Republican or a Democrat, conservative or liberal, you will want to be aware of what I write about below. The “Establishment” Republican leaders are quietly pushing for a huge tax increase that has yet to get much attention in the mainstream media.
This new tax increase is called the “Border Adjustment Tax” (BAT). In essence, the BAT would impose a 20% tariff on all imports to the US. If enacted, it will mean significantly higher prices for imports and anything made in America that includes imported goods.
You probably haven’t heard about this trade-killing tax since its main proponents, House Speaker Paul Ryan and House Ways and Means Committee Chairman Kevin Brady (both Republicans), have done their best to keep this effort quiet.
The good news is that if enough Republicans oppose Ryan, Brady and their backers, this anti-trade tax will not see the light of day. Like I said, whether you are a liberal or conservative, you need to know about this since it could mean a big cost-of-living price increase for all of us.
Sadly, the BAT is not the only bad tax being promoted by Republicans. Another group of Republicans is lobbying President Trump for a new “carbon tax” in exchange for a “significant” rollback in EPA regulations. The GOP promoters of this new tax claim it will help the economy and benefit working-class Americans. A closer look finds it will do neither and is another very bad idea. I’ll fill you in below.