lunes, 15 de abril de 2019

Democrats, As Usual, Were Wrong on Trump’s Tax Cuts

West Wing Reads

Democrats, As Usual, Were Wrong on Trump’s Tax Cuts

For Tax Day, “let’s look back at the predictions that were made when President Donald Trump signed the Tax Cuts and Jobs Act around Christmas 2017,” Rep. Kevin Brady (R-TX) writes in Fox News.

“Then-House Minority Leader Nancy Pelosi infamously predicted ‘Armageddon’ for America.” Liberal economist-turned-columnist Paul Krugman guaranteed a “global recession, with no end in sight.” They were dead wrong, of course, but that hasn’t stopped the false claims from spreading—even today.

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“As Americans file their taxes this April, they might be in for a surprise: Most Americans got a tax cut last year,” Adam Michel writes in The Daily Signal. “Americans don’t just benefit from the lower taxes. They benefit a second time from higher wages generated by a faster-growing economy. Lower taxes for businesses and individuals help fuel more investment and innovation, which means more jobs and higher wages.”
“Americans just finished filing their taxes for 2018. And this is the first year that the benefits of the Tax Cuts and Jobs Act (TCJA) have been improving the lives of our citizens. In fact, we are pleased to report that we have experienced a year of more jobs, bigger paychecks, increased business investment and lower tax liability,” Secretary of the Treasury Steven Mnuchin writes.
“Predicting what history will decide was significant is always dicey. But in the context of our fractured nation and the nonstop Washington tumult since 2016, events in the last three weeks have been nothing short of remarkable,” Michael Goodwin writes in the New York Post. “Against an enormous army of antagonists, political and cultural, academic and judicial, Donald Trump is enjoying some of the best days of his presidency.”
In The Hill, family business owner Rebecca Boenigk writes that until recently, the tax code was holding her business back. “For a small manufacturer like us, it was clear it was broken for decades. American job creators were due for a complete overhaul . . . After years of falling behind, Washington got serious about strengthening the American economy and enacted a tax plan in 2017 that levels the playing field for American businesses by encouraging investments and job creation in the U.S.”
“Last month's stellar jobs report, which includes 196,000 new jobs and a 3.8% unemployment rate, cemented the longest streak of consecutive American job growth. This is thanks to pro-growth tax cuts and a bold regulatory agenda championed by President Donald Trump and Senate Republicans,” Senators Todd Young (R-IN) & Mike Braun (R-IN) write in The Journal Gazette.

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