Ever since the Tax Cuts and Jobs Act went into effect, the results have been very positive for most Americans, except for the wealthier people living in high tax states like New York, New Jersey, and California, and the elected Democrats in Washington.
Fresh US employment data shows gains in February over 300,000 new jobs, which caused the US stock market to push back into record territory. Not sure about the truth to the rumor that an unexpected surge of anti-depressants orders were placed by House and Senate Democrats and their followers.
All this winning has caused such gloom that a certain news organization has stopped tracking job gains. Of course, that same news organization has endured its own job cuts because not a single one of its shows are in the top 20 Cable News rankings and they missed their financial targets in 2017. Obviously, Jeff Zucker is tired of winning.
So the new “message” is that all this winning is only benefiting investors. If you’re one of those “unlucky and oppressed” middle class workers who has a 401K or other retirement fund with a significant portfolio of stock, chances are your ROI over the last year and a half is in the double digits, something that was not seen during the Obama years.
For someone who is most assuredly middle class, like many of my neighbors, friends, family and colleagues, the tax cuts will result in pocketing thousands of dollars per year that doesn’t go to the government over the next ten years. Unless Congress votes to make them permanent, something Bernie Sanders agrees, even though it goes against his socialist principles.
The interesting twist is that Democrats have been shrieking these extra funds are nothing but mere crumbs, almost as if workers aren’t getting ENOUGH of a tax cut. In other words, Americans would enjoy their tax relief MORE if there was a BIGGER cut.
Hey, I’m all for the Democrats cutting taxes to put more money in my pocket. You would think that message would turn the country blue after their abysmal failure to generate a booming economy. Except, that’s not their message.
Their message is that companies are not giving workers enough of the CORPORATE tax savings, and instead, making their shareholders richer. Many companies have announced buyback plans to shore up their stock prices, which will keep their investors happy.
To remedy this social injustice, Democrats are trying to get legislation passed to force companies to give their workers a bigger cut of the corporate tax break. In California, Democrats want some of that tax savings back from small business. In other words, if you own a small business, the Democrats want to collect their “fair share.”
Even with the buybacks, a large number of businesses are making much needed investments. This increase in business spending, lacking since the Obama administration, is already causing an increase in hiring companies that supply goods and services.
While workers may not see the kind of paycheck increases that Democrats believe should happen, these investments themselves will produce what most people want anyway: More jobs.
Sure, everyone wants more money in their paychecks. Many corporations had foregone giving workers pay raises and bonuses in order to keep profit margins from sinking during the Obama years. In many cases, companies hoarded money for protection against tax uncertainty caused by the Democrats tax and spend policies that Grizzly Mama said would happen.
When the Act was signed into law, the effects were immediate: Workers received pay raises and bonuses. The tax cuts would see workers get more money immediately. Those workers with increases in salary would see even bigger paychecks. Companies holding onto money began spending significant amounts of their cash horde. Business investment which is a significant driver of the economy, is starting to create more good paying jobs.
I can see why the Democrats are not happy. And now their only chance to show the American worker they care is go bold and go big.
So what are they doing? Deficit doubling Democrats want to sell you on a $1 trillion dollar infrastructure plan that will be paid for by…
.. rolling back some of those tax cuts you just got.
Let me see if I understand this: Democrats want to raise your taxes, and those of your company that just gave you a bonus and are looking to increase your wages, to fund a trillion dollar infrastructure plan that will give much better economic results than Trump and Republican “crumbs”.
It’s like deja-vu all over again. How many shovel ready jobs were created the last time they did this? I would bet not anywhere near the number of resumes in Romney’s binders of women.
Surely, a tried and true economic plan from Barack Obama, the Greatest Democrat President EVAH, will cause the working class voters to just run back in droves. This is obviously a “winning” message.