Bansi Profile picture
12 Jul, 11 tweets, 2 min read
1. The (Not So) Invisible Hand of Tax Cuts

In 2017, Congress reduced the corporate tax rate to 21%, lowering the highest rate in the industrialized world and putting American businesses on a more level playing field with their global competitors.

Let's what ensued in 2018-2019.
2. In the next two years, after the tax cuts went into effect, the U.S. economy boomed, with increased capital investment, more jobs, and more income growth. Workers benefited tremendously, with record-breaking wage increases, lower unemployment rates, and falling poverty levels.
3. Let's review how the 2017 tax cuts benefited working people. In 2018-2019, real wages grew 4.9%, the fastest two-year growth rate in real wages in 20 years. Real median wages increased $4,400 in 2019, the largest one-year increase in U.S. history.
4. Incomes for black (7.9%), Hispanic (7.1%), and Asian Americans (10.6%) saw record increases. Median household income reached $68,703 in 2019, an increase of 6.8% over 2018.
5. The unemployment rate fell to 3.5% by the end of 2019, the lowest level in 50 years. The unemployment rate for black Americans dropped to 5.4%, the lowest level on record. The unemployment rate for Hispanic Americans fell to 3.9%, also the lowest level on record.
6. From 2017 to 2019, 6.6 million people were lifted out of poverty. The poverty rate fell to 10.5% in 2019, the lowest level in U.S. history. Poverty rates for black, Hispanic, and Asian Americans fell to all-time low levels.
7. Nearly 3 million children were lifted out of poverty between 2016 and 2019, reducing the child poverty rate to a 50-year low.
8. Income and wealth inequality also fell. The real wealth of the bottom 50% of households rose three times faster than that of the top 1%. Real wages for the bottom 10% grew nearly twice as fast as the top 10%.
9. The corporate tax rate cut boosted the U.S. economy, delivering strong income, job, and wealth gains to all people at every income level. The tax cuts delivered record increases in median income, record low unemployment rates, and record low poverty levels for all Americans.
10. Biden's corporate tax increases would reverse these historic gains, resulting in slower growth, fewer jobs, and lower wages. Why would Congress want to put these gains at risk? The answer is because the leftists don't understand economics. They revel in envy.

The End
*Let's see what ensued in 2018-2019.

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More from @bansisharma

13 Jul
1. Another Progressive Dark Money Outfit: North Fund
An obscure progressive nonprofit called the North Fund has scaled up operations during the last two years, allowing the group to quietly work in high-profile legislative fights in Washington and state capitals.
2. Do As I Say, Not As I Do
The North Fund's structure make it the latest progressive nonprofit to operate in ways that obscure key financial information from the public, even as it pushes for legislation to limit the role of so-called dark money in politics.
3. Founded in late 2018, the North Fund's budget shot up from $9.3 million in 2019 to nearly $50 million last year. It doled out nearly $18 million to other progressive groups — primarily other nonprofit advocacy groups, but with some going to outright political organizations.
Read 8 tweets
12 Jul
Read the below thread and cry. All this resulted in GOP losing the presidency and the Senate. Why? Because:
a) Dems and MSM always define the terms of the debate.
b) GOP cannot highlight their own successes for shit. They spent all their time futilely talking down mail-in voting.
Watch GOP now stand by and let the Democrats destroy the economy with higher tax rates, while the kooks in the GOP drag the party down the rabbit hole of futile audits seeking vindication for the bruised ego of a fallen idol who was outwitted by Democrats via mail-in voting.
How hard is this for GOP to understand? Always, always focus on what is good for the people of these United States of America, and explain again and again what makes good ideas good. Ideas never explain themselves.
Read 4 tweets
11 Jul
1, Regulating Big Tech

Frankly, this is not as complicated in principle as some make it sound. To the extent an industry is accorded special govt dispensations and protections, more rigorous govt regulations are warranted and applied as a matter of course. For example, banks.
2. Google/YouTube, Facebook/Instagram and Twitter are fundamentally mass communications platforms with special legal protections to enable free flow of information. As such, it's wholly appropriate to mandate by law that they strictly comply with users' First Amendment rights.
3. Truth be told "they're just private companies" is a reductionist and ignorant formulation on the part of those who seem to know little about the nature of govt oversight of private enterprises. Industry-specific regulations are ubiquitous and the norm, not the exception.
Read 6 tweets
10 Jul
The Woman Who Would Be King

That finger-tap on the head makes her argument so persuasive. Can't wait for her to become president. Thank you, Democrats!
Such Intensity of Earnestness Cannot Be Faked

There has to be a brain-eating bacteria or virus on the loose in the Biden White House.
What if the government issues a free photo id with 100 free photocopies upfront for anyone who wants them?
Read 5 tweets
10 Jul
When Even Washington Post Editorial Board Recognizes The Villainy of Teachers Unions

Teachers Unions are truly the enemy of the people.
House Democrats and the Biden Administration are trying to kill a school choice program in DC for poor kids. 92% of the beneficiaries of the program are African American or Hispanic kids.

Obama also tried to kill this program while sending his own daughters to a private school. Image
The modest program (annual federal cost $17.5 million), that Teachers Unions are gunning to kill off, does a lot of good for poor kids in DC. Image
Read 4 tweets
23 Jun
Fund The Police Quick; Biden Cries Uncle!

Biden admits, without explicitly saying it, that the Democratic lunacy about defunding the police has cost many lives and is now biting Democratic politicians in their behinds. 1/2 Image
Funding The Police Is Not Enough

WSJ: Of course what’s needed is not just funding, but also political leadership that opposes lawlessness and does not seek to use the actions of a particular officer as a pretext to attack cops in general and advance ideological agendas. 2/2
Axios: Democrats, in private and public, are warning that rising crime — and the old and new progressive calls to defund the police — represent the single biggest threat to Democrats' electoral chances in 2022.
Read 7 tweets

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