Posted on 07/06/2025 2:34:32 PM PDT by E. Pluribus Unum
In politics, good news is rarely treated as news at all. For the past seven years, the Trump tax cuts have been maligned, distorted, and largely ignored, especially when the data didn’t fit the preferred narrative. Yet here we are in 2025, with President Donald Trump making a triumphant return to the campaign trail, promising a “big, beautiful” expansion of his 2017 tax reform. And frankly, he has every reason to double down.
The Tax Cuts and Jobs Act (TCJA) of 2017 wasn’t just a win for corporations and the wealthy; it was a massive boost for working Americans, middle-class families, and small businesses. But you wouldn’t know that from reading most mainstream coverage. Instead, reports parrot the same tired talking points: “It ballooned the deficit,” “It was a handout to billionaires,” “It didn’t help regular people.” The truth, as usual, is more complicated and far more favorable to the American taxpayer than the critics care to admit.
The Middle-Class Myth
One of the most pervasive lies about the TCJA is that it somehow hurt the middle class. In reality, it did the opposite. According to data from the Congressional Budget Office and IRS filings from the years immediately following its passage, middle-income earners saw their effective tax rates drop. The standard deduction was nearly doubled. The child tax credit was expanded. Millions of Americans saw more money in their paychecks because of lower withholding.
In 2018, the first full year after the tax cuts took effect, 80% of Americans received a tax cut. For a family of four earning $75,000, the savings averaged around $2,000. That’s not Wall Street-level money, but it’s a car repair, a month of rent, or two weeks of groceries. For working families, that matters.
The reason this truth got buried? Most of those savings...
(Excerpt) Read more at americanthinker.com ...
The reason this truth got buried?
OJ was set up.
Nonsense! I read the NY Times articles, oh wait....
Tax cuts ALWAYS work.
Even when it means more government debt, they are still better than no tax reduction at all
Keynesians treat all demand as equal, which is foolish. Money channeled to government is always wasted.
There’s also a moral component. Allowing citizens to keep more of their earnings is an absolute good. It can never be wrong.
I know I was certainly happy to see the tax cut and it made a difference in my budget. We are certainly not rich or even “upper middle class”. As a matter of fact, most people would call our income level “poor”. We got used to being poor when we were first married and didn’t keep increasing our spending to meet our income as it rose over the years. $150 per month was a noticeable difference.
Yet you still see people, including the media, repeating the lie that the 2017 tax cuts went only to Trump’s rich buddies.
The IRS SOI for 2018 showed Americans with incomes between $50,000 and $100,000 saw their tax liability drop by twice as much as Americans with income above $1 million:
- Americans with adjusted gross income (AGI) of $50,000 to $74,999 saw a 13.2 percent reduction in average tax liabilities between 2017 and 2018.
- Americans with AGI of between $75,000 and $99,999 saw a 13.6 percent reduction in average federal tax liability between 2017 and 2018.
- Americans with AGI of $1 million or above saw a 5.8 percent reduction in average federal tax liability between 2017 and 2018, less than half the tax cut seen by Americans with AGI between $50,000 and $100,000.
This bill won’t see much added money to budgets unless you work for tips, get overtime or over 64 years of age. The bill just lets us keep what we’re getting.
In 2018, the national debt of the United States was $21.5 Trillion. In the 7 years since, it has risen to well over $35.5 Trillion by the end of 2024 and there’s no end in sight of the continuing $2 Trillion in new debt being added each year.
Cutting taxes and claiming that will reduce the national debt is no different than putting gasoline in your car as fuel.
The only way to pay off the debt is to outgrow it.
Trump is trying to do that.
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