Wednesday, October 24, 2018

No, liberals… The Tax Cuts and Jobs Act of 2017 was NOT a tax cut for the richest Americans

The Trump Tax Cut was a great big F-YOU to the richest of the rich people in the bluest of the blue liberal states. These are the Hollywood, Silicon Valley, Wall Street and Madison Avenue elites that go out of their way to denigrate you. They call you a deplorable, bitter clinging Bible thumper. They mocked candidate Trump and they despise PRESIDENT Trump.

The sweeping tax cut law was Trump’s way of saying “elections have consequences.” The consequences are that you have more money in your pocket. If you take nothing else away from this post, do take this, and share it.

If you are a Democrat and you repeat the party talking point that the Tax Cuts and Jobs Act of 2017 (aka, the Trump Tax Cut) only benefits the rich, then you are either lying, or you have been lied to and you are repeating the lie out of blind party loyalty.

I wrote about this in April, shortly after the bill became law and after all of the details of the provisions were unpacked.

In that post, I wrote:

It’s a net tax increase for the wealthiest people in the bluest of states, who have ridden the state and local tax deduction to billions in tax breaks.

While everyone living in states that impose an income tax have enjoyed this deduction--myself included--people living in states like California, Illinois, New Jersey and New York have had it much better. Those states impose truly burdensome taxes on their citizens and their only respite has been that those taxes are deductible at the federal level.

Not anymore.

I’ve gotten some pushback from left-leaning folks on social media and in internet forums, and in day-to-day discussions with friends, colleagues and acquaintances. These misguided souls either don’t believe that a Republican Congress and Republican President would pass a tax cut that doesn’t disproportionately favor the rich, or they know the truth and don’t want anyone else to know what they know.

Those that do know what’s really in the bill are filing lawsuits to stop the tax cuts from serving one of their key purposes—stopping liberal blue states from balancing their bloated budgets on the backs of the average American family. California, Connecticut, Illinois, New Jersey, New York, et al are among the highest tax states in the country. They have been making you pay for their liberal utopias.

Their lawsuits have a laughable basis—that their residents aren’t given equal protection under the law. This basis ignores the fact that their residents were previously granted special status vis-a-vis other states’ residents with low or zero state income taxes. That’s complicated stuff for liberals, but it won’t be too complicated for a conservative Supreme Court.

Are you still unsure? Are you still under the foolish impression that Trump’s Tax Cut soaks the poor and pays the rich?

Would you believe the New York Times? The left’s favorite “paper of record” has an online calculator that you can use to prove it to yourself.

I’ll give you a few examples. A married couple with a combined income of less than $75,000 with two children and living in Alabama will get a $1,420 tax cut. That same couple with an income of $75,000 to $100,000 living in Virginia gets a $1,290 tax cut. They make more money but live in a high tax state, so they don’t get as much, even though they make more.

The same couple with a $750,000+ income living in California? They get a $2,700 increase.

I’m not making this up, sports fans. These are real numbers pulled from a liberal media bastion’s own calculator.

If you see some knucklehead posting “tax cut for the rich!” crap, share this article with them. It will either get them to STFU or change the subject.


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