Watch: CBS News Finds Three Families Who Will Be Getting Serious Relief Thanks To Trump's Tax Cuts

Townhall.com ^ | December 24, 2017 | Matt Vespa

[Kaslin]

Well, Democratic spin surely has the middle class skeptical of the Republican tax bill. On Friday, President Trump signed the most extensive tax reform in 30 years. It was framed as a giveaway to the wealthy and something akin to the Four Horsemen of the Apocalypse by congressional Democrats. Not a single Democrat voted for the bill. In reality, it’s a middle class tax cut. Eighty percent of Americans for at least the next eight years will be paying less. The analysis says it. And now CBS News spoke to three families from Providence, Rhode Island, Fresno, California, and Cary, North Carolina to see how they would fare under Trump’s plan. Jeffrey Levin, a certified CPA at Blueprint Wealth, analyzed all three families’ tax returns and found that all three, each from different backgrounds and income levels, would be receiving serious relief.

Marcie George is a single mom, renter, and works as an administrative assistant. She lives paycheck-to-paycheck and thought the tax bill wouldn’t benefit her. Levine said because of the doubling of the child tax credit, she would be saving $1,300. George makes a little under $40,000 a year.

In Providence, Rhode Island, homeowners Amber and Jason Edwards earn a combined income of more than $150,000 a year. They’re not financially struggling, but worried they would pay more in taxes under Trump’s plan. Both are college educators and have no kids. They’re working to pay down their college loans. Levine said they would pay tax on $12,000 more in income, but due to the lower rates—they save around $650.

Then we go to deep-blue California, where Melissa and Layne Lev live in Fresno with their three children. They’re homeowners and started a small business together, recently opening a cycling studio. Melissa also works as a pharmaceutical sales representative. The couple’s combined income was $300,000. Levine said their itemized deductions will be lower, but no longer will be subject to the alternative minimum tax. And the child tax credits allow the Lev family to save $13,000.

“Well, that’s good,” said Melissa. “I like the sound of that,” added Layne.

All three families from different income brackets seem to have bought into the Democratic spin about tax cuts. All three received relief. From the single working class mother to the married upper-class business owning family—everyone is getting a cut. Not only that, but as soon as this tax bill was primed for passage, scores of companies announced that they were going to invest more in their employees, hand out bonuses, boost wages, and increase philanthropic donations. Economic growth this quarter is at a solid four percent. The Dow Jones made its greatest annual gain ever this year with a 5,000-point surge. Consumer confidence is at a 17-year high. Unemployment is at its lowest point in nearly twenty years. The economy is booming under Trump, who gets zero credit. The dust will have to settle, but there will be extensive relief to Americans with this tax reform, a lot of it going to America’s middle class, who the Democrats abandoned by voting against this legislation. They threw their lot betting against America, against the American worker, and private businesses in order to screw over the president.

Democrats are bad for business and the American family. That could be the emerging narrative when families start seeing the savings in their taxes, which will be quite a political pickle for the Left.

MSNBC Covers The Multitude Of Businesses Giving Bonuses And Boosting Wages After Tax Reform

ake Rep. Jacky Rosen (D-NV) for example, she will have to explain why she voted against a tax bill that helped create 11,000 jobs in her state (via Bloomberg):

For New York developer Steven Witkoff, the tax overhaul signed today by President Donald Trump will have an immediate effect: he’s plowing ahead with his plan to develop the stalled Fontainebleau resort in Las Vegas.

[…]

As soon as it became clear to Witkoff that the bill had a good chance of clearing both houses of Congress, he began seeking financing for as much as 60 percent of the estimated $3 billion in development costs, he said. He plans a resort with 4,000 rooms, a casino and a restaurant on the property, purchased for $600 million in August, more than seven years after billionaire Carl Icahn acquired it out of bankruptcy. The project will create 6,000 hotel jobs and 5,000 construction jobs, Witkoff said.

You can really see the misinformation campaign at work here — two of these families had been led to believe their taxes would go up. Not true. https://t.co/cetW2syT0A— Logan Dobson (@LoganDobson) December 22, 2017

[moviefan8]

Yes it is bad because is not a 25% reduction.

I am being sarcastic.

[moviefan8]

Any reduction in taxes should be good.

[MadMax, the Grinning Reaper]

I’d like to see some realistic families and how the new tax bill effects them.

A single woman and $40,000, a working family with $150,00 income and another couple with $300,000, are not totally representative of working Americans, and I see nothing about Social Security included as income.

Let’s find a family of 4 in the No. Virginia area that makes between $40-60,000.

A family of 4 making less than $40,000 in Cleveland or Chicago; a family of 4 making around $40 - 50,000 in New Orleans; the same for Houston, Texas, Phoenix, Az, Denver, Colorado, Seattle, Washington, Detroit, Mich.

Screw the Northeast. They aren’t worth helping. They created their own hell. Now let them live in it.

You can play with the income ranges, but I want to start at the lower income earnings levels for a family of 4 (artificially but also somewhat realistically at $40,000 thru $60,000).

I would have them both as home owners (with mortgage) and renters. Some would have car payments, others student loans. Some might be receiving government assistance re food/school lunches, medical care etc.

Then you would have the single parent family of 2 (parent and child), then 2 kids, 3 kids, etc. This is more like a significant part of the American working population, esp. in the inner cities, farming areas, etc.

I have no idea how much I will get in a tax return or have to pay (my income has not gone up in years, I work only 3/4 time due to budgeting issues, have only my social security, and a small dividends income from a family inheritance.

Any tax relieve would be nice but I’m not complaining about paying my federal taxes, or even my state taxes. It is the damned, ever mounting local property taxes (house/car) that is killing me. The Democrats raise the assessment rates in order to claim that they are not raising the tax rates (but they openly did both this year).

That is where political action is needed by conservatives and moderate, sane Democrats. We need to stop paying so much in taxes for illegals in our school system, jails, on public assistance.

It is time that our own local residents get some tax relief. We also support our local charities for our fellow neighbors and strangers. After that,then we can help take care of other non-citizens. But financial sanity in the county budget is the first step where I live.

So, thanks Mr. President for trying to help hardworking, legal and loyal Americans, FIRST.

Then, as the economy picks up, we can help others, as we always have.

[Twink]

I stopped reading your screed at “Screw the Northeast. They aren’t worth helping. They created their own hell. Now let them live in it.” So, screw you too and whatever area you live in and whatever issues you and your family are dealing with at this time. FU. Nice, isn’t it?

[Eleutheria5]

They’re going to get disappeared!

[MadMax, the Grinning Reaper]

Hey Twink. I remember when Connecticut was a safe, beautiful state to visit (I had relatives in Bridgeport and Trumbull). The last time we were in Bridgeport, many years ago, it looked like a run-down 2nd rate city.

A work colleague of mine used to work for the Navy in key naval facilities and contractor-support companies, and he says that both Connecticut and Rhode Island have gone to hell (unless you are very rich) in the key cities, and have lost major economic manufacturing plants and related companies.

Just look at the insane politicians both states (as well as much of Massachusetts and most of Vermont, NJ and a good part of New York have elected in the past 20 years. Even a once staunch conservative state like New Hampshire has the rich liberal spoil-over crowds now and they are wrecking the politics.

I used to write for the Manchester Union Leader and knew its editor Bill Loeb. Back then, the state was in good financial shape, the politicians were at least sane, and the red tinge of Marxism was no-where to be found.

Vermont is a beautiful state but it was taken over in the early 1970’s in a well laid out plan by John Froines, Lee Webb, Dave Dellinger and later Marxist clowns like Bernie Sanders). You can find some good articles about this in the NY Times in the 1970’s.

Only Maine escaped the large Marxist/socialist influx but it too has had a lot of problems.

I live in Virginia, a state that is being systematically ruined by the liberals/Democrats due to their stupidity, reckless spending, and catering to illegals instead of the working legal residents.

We have two blithering idiots as Senators, Kaine and Warner. The only place they should be is in an insane asylum. I’ve been around politics/Congress, and journalism since the late 60’s and believe me, I’ve never seen the Democrats/liberals/progressives (communists in training), attempt to destroy our culture, our history, our political system, our courts and our schools in the way they have in the past 8 years.

They took their game-plans right out of Lenin/Stalin and Alinsky, and have been very successful at their deconstructing America. Much of New England is a symptom of their success.

[SkyPilot]

Show me your tax statements.

Ah yes, every argument from your side came down to this. Share financial information with me on the forum.

Would you say something like that to me if we had just met and were talking face-to-face? Then why would you ask such a thing here?

And yes ResponseAbility - if the only solution from your side to people who struggling to pay for college, save for retirement, pay their mortgage, pay their medical bills, and all the rest is "Well, then MOVE!" - yes that is a life destroying solution you folks are screaming at people.

Who the heck are you to tell people to do that?

And shame on the GOPe, who thinks the best way to get back at Democrat governments is burn the rest of us.

Merry Christmas.

[SkyPilot]

You know how many middle class families should have had their taxes raised so that Google, Facebook, and Apple could get billions in tax cuts?

Zero, that's how many.

Forward!

Merry Christmas.

[SkyPilot]

I stopped reading your screed at “Screw the Northeast. They aren’t worth helping. They created their own hell. Now let them live in it.” So, screw you too and whatever area you live in and whatever issues you and your family are dealing with at this time. FU. Nice, isn’t it?

Yup - and these are the folks who claim to be "conservative."

Merry Christmas Twink.