House Republicans released their Tax Cuts and Jobs Act, lowering individual and corporate taxes on Americans. A politician said that cutting the corporate tax rate was necessary for “putting the United States in line with major competitor countries and encouraging greater investment here at home.” Others said: “I’m game to do it because I think it’s really important for American competitiveness.” “It would be a permanent lower rate, not a holiday rate.” “It is long past time for tax reform that would lower the corporate rate.”
Which politicians said this? The first quote was Barack Obama, the second and third were Chuck Schumer and the fourth was Nancy Pelosi. Of course they weren’t talking about the current plan. They said these things in 2016 when they were sure Hillary Clinton would win the White House and Democrats would regain control of the Senate. It was important to lower corporate taxes then because they knew it would stimulate the moribund economy, and they wanted the credit for the rebound.
Nothing has changed in the last year, except that Schumer, Pelosi and other Democrats realize this good policy will now be credited to Trump instead of Clinton.
If the tax cut gets signed into law, the average American household income could increase between $4,000 and $9,000 a year in wages and salary, according to an analysis by the Council of Economic Advisers.
Democrats are using class warfare, pretending that tax cuts hurt the lower and middle classes, even when they know that’s not true.