Morning Must-Read: James Pethokoukis: The GOP Needs to Rethink Its Approach to Tax Cuts
...of cutting the tax burden and increasing take-home pay of American parents by expanding the child tax credit.... So the Republican Party — tagged as the 'party of the rich'--should head into 2016 with a plan to cut taxes on the rich and raise them on working class Americans? Hmm. (And by the way, there doesn’t seem to be any evidence that turning people into non-income taxpayers nudges them into greater support for expanding government.) Anyway, what should the GOP pitch to the middle-class be, according to Moore? This: cutting the top income tax rate would boost GDP growth, which in turn would broadly boost middle-class incomes.... When incomes for the top 1% have risen by 200% over the past three decades vs. for 40% for the middle class, it’s not surprising that Americans wonder about the wisdom of cutting top tax rates...