The Tax Cuts and Jobs Act finally passed in Congress and has been signed by President Donald Trump on Friday.
The mainstream media is in full meltdown mode as monumental tax relief has finally come to America after a generation of burdensome tax policy.
Let’s review the facts of the tax cut bill the corporate media doesn’t want you to know:
1. The corporate tax rate has been lowered from 35% to 21%, making it competitive with most industrialized nations.
Several companies such as Wells Fargo and AT&T have already announced wage hikes and bonuses for their employees following the bill’s passage.
Our big and very popular Tax Cut and Reform Bill has taken on an unexpected new source of “love” – that is big companies and corporations showering their workers with bonuses. This is a phenomenon that nobody even thought of, and now it is the rage. Merry Christmas!
— Donald J. Trump (@realDonaldTrump) December 22, 2017
2. Every single income bracket will receive tax relief, with the largest cuts going to the middle class according to the Tax Policy Center, contrary to MSM talking points that insist only the very wealthy will benefit.
3. The disastrous Obamacare Mandate will be repealed, meaning Americans will no longer be required by law to purchase Obamacare health insurance beginning in 2019.
Remember, the most hated part of ObamaCare is the Individual Mandate, which is being terminated under our just signed Tax Cut Bill.
— Donald J. Trump (@realDonaldTrump) December 22, 2017
4. Doubling of standard tax deductions, from $6,350 to $12,000 for individuals and $12,000 to $24,000 for married couples, which will also bring much needed tax relief for the middle class.
5. US GDP growth will increase long-term by 1.7% and boost wages by 1.5%, according to the Tax Foundation.
Contrary to the plain facts, the corporate media has been calling the tax cut bill a “tax hike” for the middle class.
The Democrats have echoed the same false narrative, asserting that only the billionaires are celebrating the tax cut bill.
The reality is the globalist establishment is mindlessly against the tax cut bill because Trump is behind it, and a real American economic recovery is likely on the horizon.
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