That roar you hear in the background? It’s the sound of the renewal of America’s commitment to capitalism. Well, at least for the Republicans in America. Democrats? They’re running around like scared banshees claiming that the world is ending and PEOPLE WILL DIE! In other words, they’re acting like normal.
Meanwhile, President Trump did this:
Good news for employees of AT&T, Comcast, Boeing, Bank of America and other corporations around the country because they will be getting nice Christmas bonuses in addition to paying lower taxes next year.
And guess what? The tax bill that was called ‘evil’ by California Gov. Jerry Brown? Yes, his constituents will also benefit.
In Silicon Valley, much-feared tax bill pays dividends for workers
A married couple with no children who rent a home and make a combined $150,000 would see a $3,900 tax cut, estimated Annette Nellen, who directs the master’s degree in taxation program at San Jose State University.
Low-income workers will see tax cuts too, though the dollar amounts are small.
Bob Emmett, a single, 73-year-old security officer who lives in San Jose, criticized the bill as “designed to help the rich.”
Nellen estimated that Emmett, who rents an apartment, has no children and earns $16 an hour in addition to some social security income, would see a $546 cut in taxes.
No man is a complete failure until he begins disliking men who succeed.
The reaction by the old dude that gets a tax cut is priceless and typical of greedy, envious liberals. Doesn’t pay much to begin with, then cries when he pays even less because people paying boatloads more than him have a bigger dollar amount listed on their tax cut. Ridiculous but par for the course.
For those of us that live in the real world, let’s celebrate while we can.
Peggy Noonan has a nice column about the tax bill:
The fair way to judge the tax bill was never through the mindless, whacked-out rhetoric on both sides—the worst bill in the history of the world, the best thing since Coolidge was a pup—but through the answer to one question: Will this bill make things a little better or a little worse? There is much reason to believe it will make things better. It is imperfect, to say the least. But it is good to cut the corporate rate from an absurd and uncompetitive 35% to a more constructive 21%; it is compassionate to double the child tax credit; it is fair to cut taxes for small businesses, many of which are struggling.
America is waiting and hoping for a boom. By all means encourage the circumstances in which it can take place.
And the bill is going to prove popular. The Democrats bet wrong on this. Almost immediately on passage, Wells Fargo and Fifth Third Bancorp announced a raise in their lowest wage to $15 an hour. AT&T said it would give about 200,000 unionized workers a $1,000 bonus and increase capital spending $1 billion. Comcast said it would give 100,000 employees bonuses and spend more than $50 billion in infrastructure improvement.
You can sit back in your sophisticated way and say, “Hmm, that looks like a curiously orchestrated public relations push.” You can say, “How nice, the malefactors of great wealth are giving their workers a little tip.” You can wonder if they’re spreading cheap good cheer to grease their mergers. But if you are working the line in Smalltown, U.S.A., and just got bumped up to $15, or you’ve been surprised by an unexpected thousand dollars at Christmastime, you will see this not as a tip but as a real and concrete break, thanks to that most unexpected of benefactors, the U.S. government.
Who cares about CEOs’ motives if they’re doing something good?
Emphasis added for the smarmy Houston Chronicle Editorial Board.
What’s more stupid than usual about the screeching from the left, especially those in leadership, is the BS that this is a sop to the rich when everybody that pulls a paycheck will see more money in a couple of weeks. And the very wealthiest living in blue states will see a rise because the limit on writing off state and local taxes will impact them the most.
I like the dynamic that makes them confront the fact they are having to pay for the services they vote for. That and eliminating the HC mandate.
Republicans gave the largest tax cut in history to corporations while they have the largest profits in history and are sitting on the largest cash reserves ever. These cuts could not be paid for so are increasing the federal debt. To reduce the unaffordable tax cut’s fiscal damage Speaker Ryan is calling for hearings to determine how the Social Security and Medicare and other “welfare” programs will be cut. The middle-class tax cuts are temporary while the corporate, Wall Street, and millionaire tax cuts are permanent.
Isn’t that a fairer and more accurate representation of what has happened?
Gary,
Your assertion that this is “tax cuts for corporations” is a joke. Corporations don’t pay taxes today. They have never paid taxes and never will. Their customers pay taxes. When McDonalds pays hundreds of millions in taxes every year, where do you think they get the money to do so? Politicians tax corporations to hide the fact they are actually taxing us, so we don’t get mad and vote them out of office.
Amen Fred!