It’s not just liberals who are misinformed about the GOP-led tax bill, and the mass confusion is leading many working and middle class people to downright panic. The tax-reform bill on Trump’s desk has been so misrepresented in the media that a vast majority of people think they are going to receive a massive tax hike. This could not be further from the truth.
Leftist media pundits and even “objective” anchors and reporters have framed the bill as a tax cut for the rich that is being paid for by the middle class, even though analysis shows that the middle class will reap the biggest income gains.
As the Wall Street Journal’s Richard Rubin tweeted on Tuesday, 80 percent of households will get cuts in 2018, but only 17 percent in a WSJ poll believe they’re getting tax cuts.That gap between perception and reality may be attributed to media hysteria that has described the bill as “plunder,” “tax cuts for the rich,” and a “fantasy.”
After the House passed the bill on Tuesday, the Associated Press published an unbelievably misleading headline, writing that the bill provides “steep tax cuts for businesses, the wealthy.” Of course, the tax bill provides tax cuts for the lower and middle class as well.
According to the Joint Committee on Taxation, the middle class will receive $61 billion in tax cuts in 2019, totaling 23 percent of the overall tax cuts for individuals.
Yet outlets like The Washington Post, Newsweek, Time Money, and The New York Times all described the bill as a “tax hike” on the middle class. (via: Daily Caller)
Whether or not you believe in the “trickle down economics,” this bill promises to do more than give tax cuts to the wealthy. The middle and working class are in for a nice surprise when they file their taxes. Giving more money to these income tax brackets is what will create jobs.
Are you excited about the tax reform bill? What would you have liked to see done differently, if anything?