By The Federalist. Trying to project lessons from a midterm election for the next general election is risky business for many reasons. Yet no one may be more interested in trying to tease lessons out of 2018 than the Democrats seeking the presidency in 2020. For them, the results must range somewhere between confounding and disappointing.
Like any party out of the White House, today’s Democrats are groping for an identity. In particular, they are searching for the type of candidate who can beat the Republican––presumably President Trump––in a national contest.
The prospective candidates appear to be trying to fit themselves into various templates to please certain factions of their base, or fit certain theories about how to win in the Electoral College. A number of Democrats running statewide campaigns in 2018 tested these various approaches, but the results are hardly encouraging.
One Democratic faction is interested in a campaign involving identity politics––or, to put it less pejoratively, representational politics. They are shopping for the next Barack Obama, a candidate who inspires minorities and younger voters to flock to the polls. . .
Presidential wannabes like senators Kamala Harris and Cory Booker (or former Massachusetts governor Deval Patrick) probably watched gubernatorial candidates like Florida’s Andrew Gillum and Georgia’s Stacey Abrams with great interest. Gillum and Abrams both ran on solidly progressive platforms, and neither was afraid to make race and racism issues in their campaigns. (Read more from “The 2018 Midterm Results Leave Democrats Without a Roadmap for 2020” HERE)
What the midterm election results mean for your taxes
By Market Watch. The 2018 midterm elections are over, and we will have a divided government through at least 2020. Here are the possible federal income tax implications for individual taxpayers:
With the Democrats now in control of the House and the Republicans still in control of the Senate, we have the classic recipe for tax gridlock. That’s because any tax legislation must originate in the House and then pass both the House and the Senate before being signed by the president. The Democrats want to roll back most or all of the taxpayer-friendly changes included in the 2017 Tax Reform and Jobs Act (TCJA), but there is no way the Republicans will allow that to happen.
The main idea of so-called Tax Reform 2.0 was to make permanent the TCJA’s temporary federal income tax rate cuts for individual taxpayers, the doubled child-tax credit, and the deduction for up to 20% of qualified business income (QBI) from pass-through entities (sole proprietorships, partnerships, LLCs, and S corporations). These pro-taxpayer changes are scheduled to expire at the end of 2025. (Read more from “Triple Murder Suspect Is an Illegal Immigrant Released Despite Detainer Request” HERE)