In what could amount to the greatest tax overhaul of this era, President Donald Trump may have just dealt congressional Democrats their final death blow.
Dubbed as the nation’s Christmas gift from Washington, DC, and the White House, the billionaire businessman and former TV reality star will have accomplished what no other president could in decades — put real money into everyday American pockets and grow the economy.
Dubbed the Tax Cut and Jobs Act, the sweeping legislation wipes out the Obama-era health insurance mandate (tax), lowers corporate business tax rates to an internationally competitive level, reduces American federal tax liability percentages and increases the Child Tax Credit.
The legislation stream rolled Democrats in the U.S. House of Representatives 227-203, and left-leaning Senators 51-48. Pres. Trump plans on making this America’s all-time middle-class and business Christmas present.
These are some of the important tax cut details:
- Corporate Taxes drop from 35 to 21 percent
- New personal and joint tax rates run 10 percent to 37 percent with 5 of 7 brackets seeing a reduction
- Wealthy Americans ($500,000 individual or $600,000 joint filers) enjoy only a 2.6 reduction
- No ObamaCare mandate tax
- Child Tax Credit increases to $2,000
- Families can deduct up to $10,000 in local property taxes
Both proponents and critics of the legislation appear to be drawing similar conclusions about its direct impact on the Democratic party.
Why The Dems Are Doomed
Democrat minority leaders Chuck Schumer and Nancy Pelosi pulled out all the stops to decry the Trump-led tax cut initiative. It has been called a tax cut for the wealthiest Americans at the expense of the poor and middle class repeatedly. Those go-to political rants have been worn so thin that even the mainstream media has been unable to sell click-bait with them. But, Schumer and Pelosi are correct. This is the end of the world — for Democrats.
“I listen to Chuck Schumer, and the end of the world is coming with this tax bill,” billionaire GOP businessman and Home Depot co-founder Ken Langone reportedly said. “My guess is (it’s) the end of the world for the Democratic Party because if this tax bill, in my opinion, passes it’s going to unleash economic forces all to the good for a lot of people.”
The home materials and tools mogul went on to explain that he fully he expects his personal taxes to increase. Obviously, he pays the top tier bracket that was only reduced by 2.6 percent.
“Nothing is going to change in my life if I pay more taxes,” he reportedly said.
But the real rub is the way the tax cuts are structured to help national middle-class and poor citizens. Items such as limits on property tax deductions are likely to negatively impact high-priced home areas. Considering that these top-tier property value states include New York, California, Connecticut and others that went Hillary in the last election, Democrats will see their constituents possibly doling out a tad more.
By contrast, states that fall more into the national average for middle-class and lower-class incomes traditionally vote Republican. Residents in states such as Texas, Wyoming, Arkansas, Montana and others are likely to see more money in their paycheck and high tax refunds in April 2019. In other words, Pres. Trump and the GOP have delivered real dollars to their voting base.
That economic dividing line would not appear to cause any real voting shift. However, swing states voters are also likely to reap the direct benefits of the tax breaks.
Swing states such as Florida, Iowa, Michigan, Minnesota, Ohio, Nevada, New Hampshire, North Carolina, Pennsylvania, Virginia, and Wisconsin are unlikely to see a negative result from the GOP tax overhaul. In fact, middle class families will overwhelmingly benefit from lower tax percentages and double down with the increased Child Tax Credit. Talk about a win-win for middle-income families. Most would also see no change to deducting property taxes and these are the folks that will see upwards of $2,000 or more per year. In practical terms, that can be more than a full month of bills.
Losing Identity Politics
Minority voters have begun to hear the call from Pres. Trump, “what have you got to lose.” Inner-city African-Americans have suffered high unemployment, bad schools and excessive crime. Aside getting more dollars in their pockets, the slash in the corporate tax rate is expected to stimulate economic growth. Simply put, Jobs!
With unemployment spiraling down, an economic jumpstart will cause pay rates to increase. They’re already climbing slightly. That means improved economic conditions for the working African-Americans that were left behind by Democrats. Defining voters by race isn’t likely to be a viable platform once the GOP delivers prosperity. The only color future voters may see is green.
This Christmas, Santa Trump plans to deliver cold, hard cash to Conservative and swing states. Liberals, well, the war on coal is over and they can expect a lump in their stocking.
~ Conservative Zone
WOW I hope they are so mad that one of them will go run off of a cliff and the rest will follow like the lemmings that they are.
Just wait and see for yourself come November! The only ones crying the blues are going to be the Democrats in congress, when they are told to pack their bags, that they are no longer needed! Once the 2018 mid-term elections are over, President Trump is going to get everything the people of the United States asked for! I see Obama-care totally gone, I see E-Verification becoming the law of the land, i see California going bankrupt, and the federal government calling for martial law to bring California back in line with the rest of the country! I see the down fall of North Korea, and then the re-unification of that country! With this I see commercial business in that region to totally change towards good for all! I see the end of Iran as a pain in the ass!
I see the libernazis going even more INSANE ! Look how that imbecile former Obama aid Glenn Rhodes called for people to attack republicans. These are your liberal left wing now.
I haven’t heard anything like this in 30 or more years. So far our truly elected President. Donald Trump, has done more in less than a year than most previously have done in their total tenure.
I agree Richard”Clinton Bush and Obama have created one big mess.Trump is right.For years i could sense something was wrong.
For the record, Daniel, Kalifornia has been bankrupt for many years. Kalifornia still owes my former business $30,000 for equipment sold to kalifornia dept of corrections. Liberal piece of shit, run by liberal MORONS.
Wishful thinking since all the polls show a Democratic sweep.
I see a sweep, all right — democrats will be swept out of office. The only poll I have seen to the contrary is that striped pole in front of the barber shop.
The same polls that showed Hillary winning BIG. LOL
Rick,
. . . . And you believe the polls. The same polls that predicted that President Trump was going to lose the election by a landslide. Yeah, right!
America: Love It or Leave It!
GOD Bless and Merry Christmas,
rich!
The same polls that showed a sweeping victory by Hilda-beast? bob
LOL yea Richard501, just like all the polls showed that Hitlary was going to slam dunk the election. Keep dreaming. Funny how all the polls were wrong about EVERYTHING.
The Demonic rats don’t want tax cuts because they think they know better then us how to spend our hard earned money.
Demonic rats only want bigger government and they want to raise our taxes.
The next thing I see coming is the passing off right to work law! This will put an even bigger burden on the Democratic Party, as you know how much money the Democratic Party takes in from unions!
Good idea. Also force the unions to re-certify EVERY year. That would force them to spend money that would otherwise go too the DNC and democratic campaigns. Time to play hardball with these communists !
Boy you sure have got that right. They have spent more in the past 8 years than all the previous administrations but together.
What did they spent it on? Except for a VERY FEW stimulus programs for $300 & $600 to us tax payers. Billions & Billions for nothing. Social Security recipients have not seen a Cost of Living raise in more than 10 years.
They also paid interest on the debt Bush added with 2 wars, a massive tax cut and a major recession.
I got a raise scheduled to start in January
Now if Trump et al will restore Social Security to it’s original concept that would be another great step forward. Democrat administrations over the years destroyed
Social Security as it was intended.
George
A good start would be have OSCUMBAG give BACK the money ( FROM HIS “ORGANIZING FOR ACTION “ORGANIZATION”) he STOLE from the Social Security system to pay for his “healthcare” BOONDOGGLE.
We now have genuine hope and change under a real American President, unlike the communist Barack Hussein Obama, a fake president. the name was a dead giveaway and makes deceived voters look really stupid if they were not communists or fellow travelers.
If it wasn’t for the democrats RAPING the Social Security fund year after year it wouldn’t be in trouble, Remember it was the democrats that took the Social Security fund from a trust and put it into the general fund during Reagan’s time in office.
Your timing is off by a couple years. The move of the Social Security system was done under the peanut farmer, Jimmy Cater. I had not yet retired from the military when that took place. I retired part way thru the Carter administration & the SSA was already under the HHS the day I retired.
The HHS may have been called HUD back then, they keep changing the name of the most wasteful agencies to protect the guilty.
Now this is “HOPE AND CHANGE”! Not that BS Obama was trying to pass!
i have a question for you all to think about. how did the federal government manage before they introduced taxes on the individual in 1913? taxing the individual before that was considered unlawful due to the fact that you are only trading time and effort for money and therefore not actually making a profit. to make a profit you have to have a physical product that people can buy that has markup over and above the cost of manufacture including wages and other costs.
Keep one important fact in mind which explains the Democrats irrational response to this historic tax reform. They are for the most part communists. A friend of mine, an 80 year old “southern lawyer” and lifelong democrat, told me the marxists stole his party decades ago. A democrat today that isn’t a marxist is an exception, a veritable rarity.
So true !
Democrats who have never met a Tax they could live without and live by the LIE that all tax cuts hurt the poor and middle class hate this bill because it does exactly what they say no tax bill can. It will do something Democrats HATE namely help poor and middle class people keep their money. This means Dems cannot take the money to buy votes with the free money LIE. They won’t be able to keep the poor under their thumbs because they will be able to keep more of their hard earned pay. The Rich who love Democrats because they pay less under them will in fact pay more. Dems love their LIE of taxing the rich but they ALWAYS slap their taxes on the middle class and working poor. If they were really going to tax the Rich as they claim then the rich would NEVER support Dems as they do. With prayer and these cuts people will see just how much better off they are without Democrats and not put them into office in 2018 and will even remove many more at that time.
TAX AND SPEND is the only play Democrats have to build the economy, (as if they cared – a poor economy generates more dependents, their base!). For them, a bad economy is good news, while increasing the size of government and their POWER! When Trump’s tax cuts cause the economy to boom, once again, their failed policies are proven wrong.
Obama, their ultimate Lord and Savior’s pitiful last 8 years will be proven, demonstrably to all, to be the “plantation” for the poor and the riches for their masters – elected Democrats!
Trump will crash the economy like every Republican president since Eisenhower has done. The Republican Party are clueless, irresponsible and racist. They are assuring themselves minority status for several generations by electing this worthless, racist rapist Donald Trump. The worst president in American history, unelected like George W. Bush in 2000, he had to conspire and collaborate with Russia, an enemy of the United States, to steal the election. Ronald Reagan must be spinning in his grave, seeing what this pervert and traitor has done…
D rRoy Foster
In actuality the Democrat Party has been losing ground for about 25 years. Bringing in presidents Clinton and Obama added to the “had enough of them”. The timing on God’s Day November 8th 2016 did it, the end of them. 110 years of evil Progressiveness. No clue how to say never to them but now. Courage and fortitude by a real man president Trump.
It is great to see the grimaces on the liberals’ faces still in power positions and the pain they are going through. Let them find real jobs. Now we must fix mental illness from the damage they made over the past 40 years. See “KillingEvil.com” and learn how.
Americans have been suffering emotionally for years with presidents not interested in the people. The opioid deaths is one example, 145 a day. Now money-power-greed is being swept away. Now God is being brought back into our lives.
What is wrong with all you conservatives?This tax cut adds over a trillion dollars to the debt. Aren’t you conservatives supposed to object to adding to the deficit?
Rick501, you know nothing about economics or history – you repeat only the drivel that the mindless talking heads spew out on the so-called “news”. When more jobs are created, more people are added to the tax base, so actually MORE money is brought into the coffers of the government. This has been proven with Pres. Kennedy’s (a Democrat) tax cuts and Pres. Reagan’s, as well as other times taxes have been lowered.
Also, why do you trust the polls? Are these the same polls that showed a Hillary Clinton win?
I remember when Obozzo was president and who did he bail out? All the banks and loan sharks that had to default!!
Did you or anyone else get a piece of that pie? NO!! Obozzo also gave U.S. 10 Trillion$ more debt, for What?? Where did the 10 Trillion go, more jobs, less taxes? Oh, I know, Obummer Care, where everyone except Muslims had to have insurance or pay a fine!
Amen, well said indeed.
I am a former Democrat, due to their behavior I cannot align myself with those maggots again.
The upcoming mid-term elections are critical. All Conservatives must be sure that they go to the polls and not be so confident in success. The Leftists in this country will always attempt to find ways to get their way. Once “We the People” gain real control through our votes we will see a resurgent country where there are jobs and opportunities for anyone willing to put forth effort to succeed.
More money remaining in the private sector raises the standard of living. How? People spend it. That’s how the money flows down from the rich to the poor, once unemployed and now in demand to make the products, provide the services people buy. And when money changes hands, the government gets its cut. By analogy, look at WalMart: Instead of pricing things high (like high taxes) and selling little (like choking the flow of cash), it prices low to make a small profit on each of the millions of products moved. Greater cash flow supports the government since it gets its share every time that dollar changes hands.
Being an 81 year old retired veteran, I don’t expect much, if any, change in my taxes. However, for the benefit of the rest of the citizens of my nation, I’M SO GLAD I VOTED FOR CANDIDATE DONALD TRUMP!!!
These Leftist Demacrats do not beleive in humanity for us,
they beleive in humanity for themselves to hell with the
voter or the people.
TRUMP IS A GENIUS, TRUMP/PENCE 2020,TRUMP/PENCE IS GENIUS, GOD BLESS TRUMP/PENCE AND GOD BLESS AMERICA!
Donald Trump is a liar, a failure and a con man. He always has been – it’s the simple-minded conservative rubes that read a garbage site like this that he has bamboozled into thinking he is some kind of genius and savior. Step back a minute and really read what people like Richard and Leroy Washington posted above. It is sad and delusional. They think Trump, a thrice-divorced sexual deviant who has declared bankruptcy four times, is God or something. Sad. No, I’m afraid the GOP is about to become a minority political party for the next 40/50 years. Enjoy it while you can, simpletons!
Trump is a liar???
What about your beloved witch, the truth never came of her clit licker.
So you vote for someone who you cannot trust her campaign promises… that is about as gullible as a 3-year old… a retarded 3-year old.
Interesting…corporate taxes are/will be perpetuated by this bill/law, while those for individuals will expire!!!
Is this the GOP’s ‘death squad,’ especially for senior widows who happen to live in high cost regions??? (Just like 1986, got to see a tax increase in its year by 1989!!! What tax “cut”????)
Donald Trump is a genius
In less than one year:
Almost two million new jobs
Lowest unemployment in 17 years
4% GDP, up 4 times better than Obama’s pathetic 1%
Record breaking stock market, record high after record highs
Retirements soaring
He has reduced the size of the government and government interference
ISIS is defeated
Now we get to keep more of our money
We are no longer required to pay for the privilege of having no health insurance.
We won’t be strapped with the cluster flop of Obummer care
An avalanche of millions of new jobs is in the making
Wages are already increasing
The Washington corruption is surfacing
Finally a plan to pay down the national debt, with tax breaks… WOW!
President Trump is a genius
President Trump tax cuts trumped the Democrats and dealt them a death blow.
I sign as
A former union leader and a former Democrat, Former Democrat are the keywords
it is really a sad situation when your only hope for a political future rides on the complete collapse of the American economy.