04/12/2017

Ted Cruz On Track To Win Re-Election In 2018

Gabriella Hoffman, The Resurgent

New fundraising numbers released by Senator Ted Cruz (R-TX)’s re-election efforts show the Texas senator, running for his second term, is well-positioned to cruise to victory in November 2018. His current war chest amounts to over $5 million, making him well-positioned to withstand a challenge from his party and in the general race.

Here’s more from POLITICO:

The Texas Republican raised about $1.738 million in the first three months of this year across his Senate reelection campaign, his political action committee and the Ted Cruz Victory Committee. He now has $5.2 million across those three committees, and $4.8 million of that is in his Senate reelection account.

Cruz has incumbency advantage, which makes him fairly immune to political loss. Although there are continual whispers that Republicans nationally and in Texas want him gone. (That ain’t going to happen.) His likely Democrat challenger is Congressman Beto O’Rouke (D-TX) of El Paso, a former punk rocker with a few arrests under his belt. Nevertheless, the former 2016 presidential candidate and former Texas solicitor general will likely come away triumphing the November after next.

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The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

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