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1. MSM and Democrats Win The Fake Messaging Battle
Well, that is a huge success for the media and the Democrats in atrociously promulgating a fake narrative successfully. I will give you that, because this is an atrocious lie, pure and simple.
Well, that is a huge success for the media and the Democrats in atrociously promulgating a fake narrative successfully. I will give you that, because this is an atrocious lie, pure and simple.
2. I challenge anyone to send me an example of anyone making less than $500,000 having to pay more in federal taxes with the new tax law. You don't have to share any personal information. Just make up a hypothetical taxpayer for illustration purposes. Only the rich will pay more.
3. The fact of the matter is the only people who have to pay more in taxes with the new tax law are the very rich people in high tax states, and even those people will pay no more than 1-2% more. These would be the rich mostly in high tax coastal blue states.
4. It's funny how much the rich in blue states bellyache when their taxes go up by 1-2% while they virtue-signal all year long about how the rich aren't paying 'their fair share.' When they are actually required to pay a little more, their noses get out of joint.
5. Here's how the game of pontificating for higher taxes (on the rich, of course) works. This has always been the case for generations now. Democrats agitate for 'higher tax rates on the rich' to create class warfare to get votes.
6. 'Higher tax rates on the rich' do not translate into 'higher taxes from the rich' historically because they are always accompanied by a whole host of loopholes for the rich which only the people with means can avail of. It's always the middle class that really gets screwed.
7. That's why I always advocate for lowering the 'tax rates' for everyone, but make the rich pay more by eliminating loopholes (i.e. deductions). That's the only way the rich will ever pay more. A simpler tax code works better. And that's exactly what the Trump tax reform did.
8. Just look at the new tax form. It's way simpler than the old one, and everyone who is not making more than half a million gets a tax break. Of course, if your tax withholding throughout 2018 was much lower, your tax refund may be lower too, but that's just math.
9. The media and Democrats know this. So they obfuscate the issue by quickly switching to tax breaks for corporations. It's true corporations got a huge tax break, but that has been something that both parties have been wanting to do for decades (including Obama admin).
10. And the reason is simple. Our corporate tax rate was way too high compared with every other advanced country in the world, which made the U.S. companies less competitive. The new tax rates are now in line with the rest of the world, and that is a good thing.
11. Media and the Democrats know even that, so then they switch to this new game of 'how many corporations paid zero tax.' When they resort to statistical anomalies to create outrage, you know they are indulging in crass deception.
12. The only way corporations pay zero tax is by either having a special situation (corporate tax law is quite complicated) or through loopholes. No corporation in the U.S. pays zero tax consistently because 'their tax rate is too low.' That's just ignorant or deceptive nonsense.
13. And if there are loopholes that need to be eliminated, let us hear about them. Like I said, just as in the case of individuals, I am against loopholes for the corporations too. And the only way corporations will justifiably pay more in taxes is by eliminating loopholes.
14. Ever wonder why media and the Democrats don't agitate for eliminating loopholes? Two reasons:
(a) Democrats, in cahoots with GOP, put them there for their cronies to begin with.
(b) It doesn't create the kind of class warfare which generates votes from the gullible.
The End
(a) Democrats, in cahoots with GOP, put them there for their cronies to begin with.
(b) It doesn't create the kind of class warfare which generates votes from the gullible.
The End
Media is even gloating over the success of their own treacherous coverage to influence taxpayers' opinions negatively through deceptive rhetoric.
You will never guess where this appeared yesterday:
"To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase."
In NYT!
"To a large degree, the gap between perception and reality on the tax cuts appears to flow from a sustained — and misleading — effort by liberal opponents of the law to brand it as a broad middle-class tax increase."
In NYT!
Also, the people who didn't get a tax cut doesn't mean they paid more in taxes. Nope. They paid the same as before.
"The Tax Policy Center estimates that 65 percent of people paid less under the law and that just 6 percent paid more. (The rest saw little change to their taxes.)"
"The Tax Policy Center estimates that 65 percent of people paid less under the law and that just 6 percent paid more. (The rest saw little change to their taxes.)"
I Called It 16 Months Ago
Not to gloat, but I wrote this thread on the eve of Tax Reform bill being passed 16 months ago. Read it and see how much of it panned out exactly as I called it.
Not to gloat, but I wrote this thread on the eve of Tax Reform bill being passed 16 months ago. Read it and see how much of it panned out exactly as I called it.
And I've been saying this for more than a year. Now NYT finally confirms it. Not even the people in coastal high-tax states who are hit by SALT caps are worse off. Very few who are negatively impacted, and they are all relatively high earners, and negative impact is small (1-2%).
Here's The Final Kicker
The high earners in blue high-tax coastal states are definitely suffering from something, but it's not higher taxes. It's envy. You see, they are benefiting less from the tax reform than the rich in low-tax states. And that's why some of them are moping.
The high earners in blue high-tax coastal states are definitely suffering from something, but it's not higher taxes. It's envy. You see, they are benefiting less from the tax reform than the rich in low-tax states. And that's why some of them are moping.
