Thread by @usacsmret

It's one of the most underreported stories in the media. @realDonaldTrump's tax cuts are helping the middle class. @StephenMoore and @TaxReformExpert set the record straight. dailysign.al/2WJoxzA via @Virginia_Allen5 @DailySignal

That’s one of the fallacies of the left. They keep saying this was just a big tax cut for corporations. We did make our corporate tax system more competitive globally, and that’s been a big benefit. But the biggest tax cut actually went to the small- and medium-sized business.

We’ve actually reduced income inequality because we’ve created a very tight labor force and, low-income workers now have an opportunity to ask for higher wages.
The biggest wage gains, have been to the people at the lower-income rungs of the economic scale.

We have 7 million unfilled jobs today in America, 7 million. That’s more than the entire state of Indiana, in terms of population. It is a direct consequence of the tax cuts and the deregulation.

The Obama people were adversarial, they regarded business as the enemy. Remember it was Barack Obama who said, “You didn’t build that.” And that this kind of contempt that I think the previous administration had for business.

Donald Trump is unapologetically pro-business and I like that because you can’t have jobs without businesses.

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Ninety percent of Americans are actually better off because of what we did with changing the deductions. … The irony of this issue, by the way, is the people who actually do get hit hard by getting rid of the state and local tax deduction are the people in the top 1% of income.

Democrats don’t like that we took away the SALT, the state and local tax deductions, right? We capped it at $10,000. And they hit on that all the time. You got the irony here....Liberals are actually trying to bring back a tax shelter for the millionaires and billionaires.

Research and data are pretty unequivocal on this, that the states with low taxes, especially the nine states that have no income tax—like your home state of Florida, like Texas, like Tennessee, New Hampshire, Washington state—they are just clobbering the states with high taxes.

I talk a lot about the four states of the Apocalypse and those are New York, Connecticut, and New Jersey, and Illinois. They’re a financial disaster. And by the way, they have the highest taxes and yet they have the biggest fiscal holes.

So I think what the states teach us is that you can’t tax your way to prosperity. And that sound tax reform with low taxes and broad baits is the way to prosperity.

And you could add California to that category as well, New York, California, Illinois, this year alone has added 84 taxes to their state tax system. Taxing soda, taxing additional on golf courses, outdoor dining

Every day, these states are doing a new tax because they’re 2, 3, 4 billion behind in collections already for this year. Because everyone’s mass exodus, why would you pay those taxes? …

I hail from the Chicago area and it’s a total disaster. Everywhere I go, whether I go to Florida or Texas or Utah or Arizona, all I see are those Illinois license plates of people who have left.

They want to raise their highest income tax rate to 8% to 9%. They don’t understand basic math. The 8% or 9% of zero is zero. You’re just going to get all these rich people … to move out, there’s not going to be any income at all from those people

The best way to raise wages is not through government minimum wages. Target just raised their wage rate to what, $11, $12 an hour? Walgreens raised their wage rates. FedEx is offering bonuses for people. You see this, Costco, all of these major companies are raising their wages.

You ask them, “Why are you raising their wages?” And what Target said is, “We have to raise our wages because if we want to retain and recruit workers, it’s a competitive environment out there.”

When you’ve got 7 million unfilled jobs, that gives workers an opportunity to bargain up their wages. And so that’s the positive aspect of this but when you raise the mandatory, government imposed minimum wage, that hurts …

By the way, why should Mississippi have the same wage rate as California? That’s just crazy. You’ll put all the people in Mississippi out of work and of course, maybe that’s what California and New York want.

I would love to see Trump, and this is something Larry Kudlow, the chief economist for Trump, has mentioned, is for Trump to continue to pursue this idea of: We’ll go to zero on our tariffs if these other countries go to zero on theirs because we actually have the lowest tariffs.

Wouldn’t that be something? Because then … Donald Trump would give us more free trade because every country would have an incentive to lower their tariffs.

If Trump can get this trade deal done with China, and everything Trump is asking for is very reasonable with respect to China, you think the economy is strong now, wait until he gets a trade deal drawn with China.

Larry Summers, who was the chief economist for both Barack Obama and Clinton, will be pulling his hair out because he was the one who said after eight years of Obama, the economy can’t grow more than 2%.