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Former Vice President Mike Pence argued in an opinion piece for Fox News on Monday, tax day, that if President Joe Biden’s sock-it-to-American-job-creators tax plan were put in place, it would be a boon to China. He’s right. “Under the Trump-Pence administration, we proved that low taxes are the key to creating prosperity for Americans of every background and income group,” Pence wrote. The passage of the Tax Cuts and Jobs Act in December 2017 was the key. “Within months, our economy took off like a rocket,” Pence recounted. “America gained more than 7 million new jobs, unemployment plummeted to the lowest rate in 50 years, and more than 10 million people were lifted off of welfare — the largest reduction in poverty in modern history.” As the old adage goes: “The best anti-poverty program is a job.” “Cutting taxes on American employers was a central part of our efforts to bring jobs and factories back home to the United States — and it worked,” Pence explained. One of the central components of the Trump tax cuts was cutting the corporate tax rate from 35 percent — the highest in the industrialized world — to 21 percent, more toward the middle.

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