The media and President Biden have consistently misrepresented President Trump’s signature tax reform legislation. During the 2020 campaign, candidates Biden and Harris both promised to undo all of the Trump tax cuts on “day one.” Fortunately for the economy and the country, Congress has not allowed the full Biden tax hike agenda to become law. The Biden tax plan, if implemented, would destroy millions of jobs while wiping out small businesses and family farms across the country that are already struggling to stay afloat. As Biden and some Democrats in Congress attempt to bury Americans with tax increases across the board, new data from the IRS has exposed their outright lies about the Trump tax cuts.
Who remembers Nancy Pelosi saying the 2017 tax cuts would amount to “Armageddon”? Or the media consistently claiming that Trump and his family would be the only ones who benefited? New statistics prove what many already knew: the Democrats’ fainting couches and pearl-clutching over tax cuts was pure theater and not founded on any legitimate concerns. New data show that the tax cuts worked for everyday Americans. This the Hill editorial makes that clear by exploring the real numbers that we now have: “credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans’ Tax Cuts and Jobs Act went into effect and the most recent year for which data is available. Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent. By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent.” This sounds precisely like what President Trump and Republicans in Congress had in mind when they pushed hard to overcome Democratic obstruction and media harassment in order to pass common-sense tax reform.
The Trump tax cuts certainly were not perfect. A compromise was needed along the way to get any tax reform passed through the Senate in 2017. The numbers do show the tax cuts were helpful across all income groups and certainly have turned out to be a far cry from Speaker Pelosi’s imagined “Armageddon.” It turns out that all of the countless headlines about the irresponsibility of cutting taxes and the countless Democratic floor speeches were completely wrong. This too often is par for the course for an entrenched corporate media with a clear agenda. The new numbers confirming tax cuts happened across the board make it harder to perpetrate those lies. Cutting taxes for all Americans led to one of the largest economic booms in history during 2019, and the media did even worse covering (or not covering) that overwhelmingly positive economic news.
So when the left tries to claim that Trump only cared about the rich, remind them of the real numbers. According to Justin Haskins from the Heartland Institute, “The fact is, Republicans’ 2017 tax reform law did exactly what was promised: It lowered taxes for all income groups, provided the greatest benefits for middle-income households, and spurred economic growth that helped reduce poverty and improve prosperity.” Don’t expect that to stop Democrats in Congress and the administration from continuing to claim that the 2017 tax cuts only helped the rich. They will do so ironically while they push for trillions in tax hikes that they claim will only hurt the rich. We have heard that one before.
Bob Carlstrom is President of AMAC Action
Of course the Trump tax cuts and regulatory reform worked. That was empirically evident from all the federal and state government data, as well as every private sector data source that has tracked the results since mid 2018 through early 2020. When the economy was artificially shutdown to try and combat the Covid-19 on Dr. Fauci’s and Dr. Birx’s recommendation to President Trump. Those economic reforms were the only reason we didn’t slide into a full blown depression, because the country was so economically strong beforehand and had the means to recover so quickly after the the Democrat run states finally allowed their economies to re-open and join the rest of the country.
That Pelosi, other Democrats and MSM continue to lie about the effectiveness of the Trump tax cuts and regulatory reforms is no different than how they lie daily about everything else in order to promote their massive tax and spend agenda. No one relies or seriously believes anything Nancy Pelosi or any other Democrat states. Most informed people take the noise coming out Nancy’s mouth and that of other Democrats as nothing more than the worthless lies of a career politicians. Politicians only concerned about their own financial well-being and personal power.
He did then NOT Now alas
DUH!
The real reason the Democrats want to repeal the Trump tax cuts is that they refuse to believe that anything Trump did actually worked. They are so afraid that he might return in 2024 they feel compelled to overlook any success he had, no matter what the facts and common sense clearly indicate. It makes it impossible to negotiate with them on anything substantive.
Of course they helped people! Anyone with IQ over 20 would tell you that. That leaves pelosi out and other socialist members.
Why don’t the Republicans talk about this over and over until people understand. If they can not sell their conservative ideas they will be lost in the mid term. Social media and rich facebook, goggle, twitter money will pour billions to defeat the Republican party. Don’t stand still and watch them gobble America
Of course they did. The RNC should put out television spots pointing out each of the president’s policies and actions that benefited each of us. People will then be able to compare them to what we have shoved down our throats now. OUR PARTY HAS ISSUES TO VOTE FOR, people must realize this!
Everything President Trump did helped the American middle class Legal Citizens!
Conversely, EVERYTHING the joebama and marxist democrats have done is BAD for America and the Citizens!!
Don’t hear much from whoever supposedly voted for these LOSERS!
I’d hide my head in shame also!
Don’t believe you. Get real.
PT Barnum said, “There’s a sucker born every minute”.
Sounds like you are the internet scammer.
President Trump was one of the best presidents I’ve seen so far in my lifetime and that’s saying something considering I’m 76 years old. TRUMP 2024 MAGA
Something else about President Trump, I believe a lot of people hate President Trump because he is brash but the reason for that is because he’s a business man and not a politician! He says what he thinks and some of the things he says may offend some people but a lot of things he says are facetious. I have a son who is very facetious and if you don’t know anyone like that you’re not going to understand what them!
The Democrats always lie. They are like their father, the devil, who is the father of lies, and a murderer from the beginning. When they lie, we know we are doing right.