Ever since talk of the tax bill began and long before anyone knew what was in it, the media and the Democrats have been doing a tag team against it. Considering how much the well has been poisoned is it any wonder that the bill is overwhelmingly unpopular?
What is truly jaw dropping is the gaul of the press on the Sunday morning news shows to ask Republicans “Why is the tax bill so unpopular and why has the news about the economy failed to move the President’s numbers?” Led by the stock market which has jumped nearly 5,000 points in less than a year, the economy started roaring back shortly after Donald Trump’s election. Consumer confidence is higher than it’s been in a generation. Unemployment has fallen to near four percent.
Meanwhile the media has done it’s best to bury news of the recovery and remained relentless in it’s attacks on the administration, from campaign’s alleged ties to Russia (after nearly a year of multiple investigations evidence has yet to surface) to his alleged consumption of….wait for it…..12 Diet Cokes per day.
Just finished watching ABC News coverage of the tax plan. All I can say is thank God for alternative media. Never in my life have I witnessed such slanted “reporting.” According to ABC the biggest winners in the Republican tax bill are the top 20% who will see a “Whopping” 2% cut from 39% to 37%.
Ponder this for a moment, at the current rate people in this bracket are being asked to turn over nearly forty cents of every dollar earned to the Federal government. Couple this with the fact that the top 20% pay 90% of the taxes collected by Uncle Sam. This doesn’t take into account the additional taxes they are paying to state and local governments.
ABC conveniently left out that 50% of the people in this country pay no Federal income tax at all: Zero, Zilch, Nada.
F.I.C.A, (which everyone pays into to cover Social Security, Medicare etc) is not the same thing and yes the top 20% pay that as well in addition to income tax, and they do so on a progressive sliding scale.
Also left out of their “story” is the doubling of the standard deduction. This means an individual earning $12,000.00 or less will be removed from the tax rolls altogether as will couples earning $24,000.00 or less. Those earning over over these minimums will have no tax consequences until they exceed it. The bottom line: Couples and individuals will be able to keep double over what they’re currently paying into the system.
This does not take into account that those with children will also benefit from the doubling of the “Earned Income Tax Credit.”
As it stands these cuts are scheduled to expire in ten years. However, this does not preclude Congress from making them permanent before that happens.
If my only source of news was the so called “Big Three” (ABC, NBC, CBS) I’d be against the tax bill myself.
ABC news also intentionally failed to mention in it’s evening broadcast that the G.D.P. (Gross Domestic Product) hit nearly 4% for the first time in a decade. The average economic growth under eight years of Obama was an anemic 1.8%.
By lies and omission the media has kept those who rely on them as their sole source of information completely ignorant of the dramatic economic recovery that’s taken place in less than a year.
And that, Mr, Ms. and Mrs. Sunday news talk show host is why those good economic numbers are not translating into higher approval numbers for the President and why the tax bill is “polling” at 30%.
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Categories: Current events
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