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Michael Reagan: Middle Class, Red States Are Tax Cut Winners

(Newsmax TV's "America Talks Live")

By    |   Wednesday, 20 December 2017 03:56 PM

Michael Reagan says he and his family will be financially whacked by the new GOP tax plan approved on Capitol Hill on Wednesday – but he still believes the highly controversial legislation is going to be "very good" for the country.

The conservative political commentator and son of former President Ronald Reagan told Newsmax TV's "America Talks Live" host Miranda Khan, while most of the country will see lower taxes, the residents of four blue states can expect to pay more.

"I think it'll be great for people who live in red states; I think it's going to be good for the middle class and what have you," Reagan said.

"I think those of us who live in California or New York or New Jersey or Oregon in the blue states, we're the only ones who are going to see our taxes, in fact, go up. So many of us aren't happy in the blue, progressive states.

"I'll see my taxes go up. But, again, I think this will be very good for the country. It'll be lousy for the Reagan family and for people who live in the state of California."

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Reagan said he understands the bill is so disliked in California.

"I probably would have voted against it being a California congressman because Californians are going to be hurt by it," he told Khan. "And people who say, 'oh, it's up to California to bring their taxes down,' that is never going to happen.

"We have a two-thirds majority Democrat-controlled assembly and Senate. We have a Democrat governor, we have absolutely not one Republican worth [their] salt running for any position of power in the state of California."

And along with a 12-cent per gallon gas tax that took effect in the Golden State last month, "we're going to be hurt, I am going to be paying much more in taxes than I'm paying now, and many of us in California as in New York," Reagan added.

"But the Republicans don't have to worry about it. The president doesn't have to worry about it, because those states are never going to vote for Donald Trump. They're never going to go Republican. So they don't have to worry about it, because that is only the popular vote.

"He will win the electoral vote again in 2020 based on this, because he doesn't need New York [or] California in order to get over the finish line to win the presidency again. So we will be hurt, we will pay the price for this tax cut that will be very good for red states, very good for many members of the middle class."

Regan said, while his taxes will rise, his annual tax preparation is about become a lot easier.

"I will be one of those people who can fill out my taxes on a postcard because all the write offs I used to have are gone. Yes, I'm paying 37 percent not 39.6 percent, but my write offs are gone," he said.

"So yes, I'll be able to in fact do it on a postcard. Here's what I make, here's what I'm spending, I won't be able to itemize basically any longer."

Is Reagan concerned about the rising deficit?

"The only reason the deficits go up is because Congress spends too much money. When my father cut taxes back in the 1980s, the income coming into the government was absolutely out of control,” Reagan said.

"There was so much money coming in, but the Congress of the United States ended up spending all of that money and more to create deficits. That's why there's deficits, not because of a piece of legislation's passed . . .

"More money will come to Washington through this package, but then it’s up to Washington not to get giddy and spend it like they just got a Christmas gift. It’s up to them to save it and reduce the deficit in the long term."

Reagan is the author of "Lessons My Father Taught Me: The Strength, Integrity, and Faith of Ronald Reagan," written with Jim Denney and published by Humanix Books.

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Former President Ronald Reagan's son Michael Reagan said his taxes are going to go up, along with others in high-tax blue states, but red states and the middle class stand to benefit from the Republican's tax reform passed Wednesday.
middle class, blue states, red states, michael reagan
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2017-56-20
Wednesday, 20 December 2017 03:56 PM
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