By Post Editorial Board December 20, 2017 | 2:34am
It won’t be official until the House does its re-vote on Wednesday, but Senate passage of the tax-cut bill was the last real hurdle: Taxes are about to come down for all Americans except a few top earners in high-tax states.
And the business tax cuts should get the US economy roaring again. The Obama doldrums are really, truly over.
Hysterics from Democrats and most of the media have the public doubting it’s a win for the average Joe. But moderates will come around when they see their first paycheck of the new year, get a new job or a raise or see other benefits of the coming boom.
The United States is about to see a massive influx of capital: Billions upon billions that companies had stashed overseas, plus increased global investment now that America has stopped being anti-business. Growth already expanding thanks to President Trump’s deregulatory polices should accelerate.
Credit Trump for standing firm in the face of all the doubters, and GOP leaders in Congress for steering through the minefield amid blistering media artillery fire.
"The demographic most opposed to President Trump is not a racial minority, but a cultural elite." Daniel Greenberg
"Failure to adequately denounce Islamic extremism, not only denies the existence of an absolute moral wrong but inherently diminishes our chances of defeating it." Tulsi Gabbard
"It’s a movement comprised of Americans from all races, religions, backgrounds and beliefs, who want and expect our government to serve the people, and serve the people it will." Donald Trump's Victory Speech 11/9/16
INSIDE EVERY LIBERAL IS A TOTALITARIAN SCREAMING TO GET OUT -- Frontpage mag
"There's clearly no question that the benefits of this tax break are going to go primarily to the top 4 percent [of earners]," said Matt Gardner, a senior fellow at the institute. "Middle income families will be at best an after-thought."
"The demographic most opposed to President Trump is not a racial minority, but a cultural elite." Daniel Greenberg
"Failure to adequately denounce Islamic extremism, not only denies the existence of an absolute moral wrong but inherently diminishes our chances of defeating it." Tulsi Gabbard
"It’s a movement comprised of Americans from all races, religions, backgrounds and beliefs, who want and expect our government to serve the people, and serve the people it will." Donald Trump's Victory Speech 11/9/16
INSIDE EVERY LIBERAL IS A TOTALITARIAN SCREAMING TO GET OUT -- Frontpage mag
And yet one other perspective: Citing tax reform's consequences, House Minority Leader Nancy Pelosi (D-Calif.) called Republicans' final version of reform “the worst bill in the history of the United States Congress.” No hyperbole there folks.
As for "Matt Gardner, a senior fellow at the institute.", the institute refers to the Institute on Taxation and Economic Policy, a left leaning think tank. Moreover, if the largest tax breaks go to the rich, that makes sense since they pay most of the income taxes, plus the middle class will benefit, just not to the extent the very rich, very taxpaying will.
Moreover, if the largest tax breaks go to the rich, that makes sense since they pay most of the income taxes, plus the middle class will benefit, just not to the extent the very rich, very taxpaying will.
Numbers can be so misleading as we all know. For example, two citizens get a tax break of 1%. For the one who earns $250,000 that's a $2,500 break. For the citizen who earns $50,000 that's only a $500 break.
There's really no "equal" way to affect the tax rate when the amount various citizens earn is so different.
"The demographic most opposed to President Trump is not a racial minority, but a cultural elite." Daniel Greenberg
"Failure to adequately denounce Islamic extremism, not only denies the existence of an absolute moral wrong but inherently diminishes our chances of defeating it." Tulsi Gabbard
"It’s a movement comprised of Americans from all races, religions, backgrounds and beliefs, who want and expect our government to serve the people, and serve the people it will." Donald Trump's Victory Speech 11/9/16
INSIDE EVERY LIBERAL IS A TOTALITARIAN SCREAMING TO GET OUT -- Frontpage mag