This article originally appeared on Fox Business on July 15, 2020.
Three months later than usual and falling in the dead heat of summer, Tax Day is finally here.
In the midst of a global pandemic and the shutdown of our booming economy, the last thing Americans needed to worry about was the April 15th deadline for filing their tax returns.
So, under President Trump’s direction, the Department of Treasury delayed Tax Day from April 15th to July 15th giving families and small business owners more time to pay their federal taxes without interest or penalties.
Every politician understands the importance of tax revenue. Not every politician understands the impact taxes have on economic growth or the importance of the Laffer curve, whereby lower tax rates can boost economic growth resulting in more jobs, higher wages and, ironically, increased tax revenue.
As we file our tax returns, it’s good to keep in mind that we are all paying less to the federal government because President Trump understands both how to grow our economy and maximize the tax revenue required for government to function — without overburdening either American families or small businesses.
It’s also a good time to keep in mind that there may be no starker contrast between Democratic presumptive nominee Joe Biden and President Trump than on tax policy.
To put it plainly—President Trump wants to cut taxes – for everyone. Joe Biden wants to raise them – a lot
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