We’ve been having some fun at the expense of Nancy Pelosi and the Democratic Party’s literally apocalyptic hyperbole and rhetorical overreach about the new tax reform law, showcasing examples of businesses — large and small — that are celebrating passage of the landmark legislation by paying out employee bonuses, raising wages, expanding, and making charitable investments. For what it’s worth, here are a few additional examples that have cropped up since our last pre-Christmas post on the matter. As we await more announcements from corporations and small businesses across the country in the new year, I’d like to go back and underscore two significant developments that Matt covered over the holidays — they’re both really important.
First, in a video I flagged as “must watch” on Twitter, CBS News delved into the personal finances of three families across the country to determine how the new tax law will impact them. Each household cut distinct profiles; a low-income single mother in North Carolina, a pair of middle-income married educators in Rhode Island, and married small business owners with three kids in California. One thing that all three families had in common: Anxiety about the GOP plan. None of them were optimistic about how the new system will affect their pocketbooks, with two families explicitly anticipating a tax hike. This reflects widespread public opposition to the bill, driven by aggressive misinformation from the Left. When an accountant ran the actual numbers, however, all three households discovered that their tax burden was going down. Watch the entire thing:
— Senate Republicans (@SenateGOP) December 22, 2017
This really should not be a surprising outcome in the least, given that 80 percent of filers will see tax reductions under the bill — yet this number cruncher’s mathematical verdicts came as happy relief to these taxpayers, who’d succumbed to relentlesspropaganda and media malpractice. But reality did not comport with Democratic talking points. National Review’s David French analyzes the importance of the CBS news segment:
Please watch this. The surprise and relief on these taxpayers’ faces is palpable. I wonder why they’re so surprised that their taxes are going down? https://t.co/23GR6auqWj
— David French (@DavidAFrench) December 22, 2017
This is exactly the dynamic Republicans are hoping for in 2018. Democrats and many members of the media relentlessly claimed the bill would hurt the middle class. They called it a “giveaway” to corporate America and to the very rich. Polls indicated that large numbers of Americans actually thought their taxes would increase. In other words, the public debate served mainly to obscure the truth and conceal the benefits to working families. So what happens when reality intervenes and Americans by the millions see their take-home pay increase? The GOP’s hope is that it will lead to a public reconsideration and a rebound in Republican fortunes at the polls. And that’s certainly possible. There has been an enormous amount of doom-mongering in the media and online, and if Republicans can keep America safe and prosperous in the coming year, and if family fortunes continue to improve, then some of the hysteria may lose its bite. Eventually people tune out Chicken Little.
Read more at Townhall