The Cost of the New Tax Bill

Reducing taxes, rebates, deductions, and write-offs all mean one thing and one thing only: increases to the Budget deficit.

Ever hear of “trickle-down economics?” That is the term given the bill used in the 80’s by President Reagan and Congress to implement massive tax cuts for Americans. The claims by the Reagan Administration were identical to claims we hear from the Trump Administration: tax cuts will mean more consumer spending which interprets into more revenue for companies, which interprets into corporate expansion, which interprets into employee and infrastructure investment, which interprets into more government revenue, etc. Democrats categorically deny the truth in that. And they cry that ANY tax relief for Americans must come from increased federal government borrowing — or deficit increase.

That was the story in the Obama years. And they really worried about the deficit increase, too, right?Hmmmmm…… The deficit doubled in 8 years on their watch. And it started two months after Obama’s inauguration: infrastructure shovel-ready jobs and $800 Billion of American taxpayer money to seed it all. Those shovel-ready jobs, energy company startup loans and loan guarantees, and loans and guarantees to bunches of other companies and individuals handpicked for their “eligibility” by the Obama Administration results? All the money is gone…scant results….$10 Billion of new debt. And these are the folks who want to tell us about government financing. I think not.

Enter Donald Trump.

Crying on the Left

(Watch this video: 2 minutes)

https://youtu.be/avsgWSq3BwQ

House Minority Leader Nancy Pelosi throwing cold water in the faces of  2 million Americans — a number growing daily — who over 100 U.S. companies so far have announced giving immediate bonuses to because of the new tax law. According to Pelosi: “Crumbs.” She makes no mention that a huge number of these companies in addition to the bonuses are giving pay raises to their rank and file employees — many raising their minimum wage starting point for new adds to $15/per hour.

So what’s the beef? These Americans are thrilled to receive not only such a bonus, but in many cases a pay raise that they will begin seeing in their first February 2018 paycheck — just weeks away. That’s not a good thing? Not according to Pelosi — it’s just “crumbs.”

Let’s face it: in Pelosi’s world, a $1000 bonus and an extra $2,000 a year of “walking around” money is insignificant. But there are very few average Americans — you know those “Middle Class” Americans who Democrats claim they are in Congress specifically to guard against the wicked Conservatives — who feel such bonuses, pay raises, and tax reductions are insignificant.

Here’s the Rub

The real reason those on the Left are so angry about what is happening just two weeks into the life of the new tax law is that all those dollars taxpayers are about to see in pay raises, bonuses and tax decreases is money that was “theirs” last year! Of course that money was never really theirs. But they think it was…and they act like it is.

There are two really big conundrums they are about to face and explain to the American people:

  1. Taxpayers in 2018 — ALL of 2018 — will have more money to keep when they cash their paychecks. And this begins in a couple of weeks while Pelosi and Company are still hoping for the Armageddon she predicted. (The only Armageddon she might see is the war on the Left in November);
  2. The other is when voters awaken to the realization that NOT A SINGLE DEMOCRAT IN THE HOUSE OR SENATE VOTED FOR THE TAX CUTS. How can any politician spin that fact — even as good at spinning are Democrat leaders in the House and Senate — into being good for Americans? Democrats did not give them bonuses, pay raises, or tax cuts. Donald Trump and the G.O.P. did. That’s a hard pill for Democrats to swallow.

Summary

Here’s the irony of all this: while the Left has painted corporations and the wealthy as the evildoers who make too much money on the backs of their employees. In addition to the conundrums listed above, they are facing this reality: although they screamed for companies to take responsibility for making too much money, (they point to Wall Street) these companies passing out bonuses and pay raises are NOT taking it from their corporate profits. THEY ARE KEEPING IT TO GIVE TO EMPLOYEES INSTEAD OF SENDING IT TO WASHINGTON D.C. AS TAXES!

Remember when President Obama famously chided company owners saying this: (paraphrased) “You cannot say you’ve built that company or created your income. You didn’t do it. You had to have roads and streets and infrastructure to do it. You didn’t do it. Everybody else built your company.”

That’s the difference between Liberalism and Conservatism.

For me: I’ll take Free Market Capitalism from Conservative ideals over Socialism from Liberals like Obama, Reid, Pelosi, Schumer and Company anytime.

And as the shades go up and the Light of Truth shines, I’m pretty sure the majority of Americans will see and understand which guys are really wearing the white hats.

 


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