American Elephants

The Left Does Not Understand Free Market Capitalism. by The Elephant's Child

I think that Democrats are taught with their very first political lesson that Republicans always give tax cuts to the rich because they don’t care about ordinary people like us. They just care about rich people. Fortunately, David Harsanyi over at the Federalist rounded up lots of Democrat commentary that proves my thesis.

It was Larry Summers, Bill Clinton’s former Treasury Secretary and Barack Obama’s White House economic adviser, who warned that tax reform would lead to over 10,000 dead Americans every year, in December of 2017. Summers, considered a reasonable moderate by today’s political standards, was just one of the many fearmongers.

The same month, after cautioning that passage of tax cuts would portend “Armageddon,” then-House Minority Leader Nancy Pelosi explained that the 2017 Tax Cuts and Jobs Act (TCJA), a reform of corporate tax codes and a wide-ranging relief, was “the worst bill in the history of the United States Congress.”…

None of this is even getting into the MSM’s straight news coverage, which persistently (and falsely) painted the bill as a tax cut for the wealthy. “One-Third of Middle Class Families Could End up Paying More Under the GOP Tax Plan” noted Money magazine. an Associated Press headline read, “House Passes First Rewrite of Nation’s Tax Laws in Three Decades, Providing Steep Tax Cuts for Businesses, the Wealthy.” “Poor Americans Would Lose Billions Under Senate GOP Tax Bill” reported CNN. Yahoo News ran one piece after the next predicting doom.

The unemployment rate fell to 3.6 percent last month, the lowest level of unemployment since 1969. Since Richard Nixon was in his first year as president. The economy added 263,000 new jobs in April. Wages are growing as well. They were up 3.2 percent in April, marking the ninth straight month of 3 percent gains. The White House Council of Economic Advisers noted: “Prior to 2018, nominal average hourly wage gains had not reached 3 percent since April 2009. Two days earlier, the Fed said that “On a 12-month basis, overall inflation and inflation for items other than food and energy have declined and are running below 2 percent.

Growth: The accelerated rate of job growth under Trump is widespread, too. Manufacturing jobs climbed 470,000 since Trump took office. They went up by a meager 18,000 in Obama’s last 28 moths in office. Goods-producing jobs shot up by 1.2 million after Trump took office, compared with a paltry 241,000 gain for Obama. Construction jobs climbed 629,000 under Trump, after a 352,000 gain under Obama, has been accelerating under Trump.

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