Doc7505
Diamond Member
- Feb 16, 2016
- 15,711
- 27,669
- 2,430
Fact Check: About Those Viral 'Trump vs. Biden' Economic Charts...
Fact Check: About Those Viral 'Trump vs. Biden' Economic Charts... by Guy Benson (townhall.com)
11 Mar 2021 ~~ By Guy Benson
Lefties and journalists -- often one in the same, of course -- have been sharing charts on social media purporting to illustrate how much better Joe Biden's first major legislative achievement ('American Rescue Plan') will be for average Americans than Donald Trump's opening foray ('Tax Cuts and Jobs Act'). Because they appear to confirm typical partisan stereotypes designed to reflect poorly on Republicans, these have rocketed around the internet:
~Snip~
First off, we are comparing apples to oranges here. The Trump/GOP tax cut reduced Americans' tax burdens and simplified the tax code overall. It did not represent the government mailing one-off (taxpayer-funded) checks to people; it implemented a new policy to allow American families and businesses to keep more of the money they earn every year (reminder: the economy grew and government tax receipts increased after these tax cuts). Second, there are reasons why the data points above look the way they do. The so-called "COVID relief" bill will send direct one-time payments to Americans earning under a certain income threshold, excluding wealthier Americans. The tax reforms and cuts necessarily impacted higher earners because they were -- and still are -- paying disproportionately high percentages of all federal taxes:
Let's pause here for a moment. It's important to recall that after the 2017 tax cuts -- opposed by every Congressional Democrat -- were implemented, alongside the Trump administration's reduction of regulatory red tape, the US economy absolutely boomed. Top Democrats attacked the tax reform as an "armageddon" that would hurt (or even kill!) working and middle class people. That was all a lie. Incomes increased significantly, with workers benefiting disproportionally. A global pandemic from China temporarily shattered that prosperity, but the economy was rocking. Both 'Trump vs. Biden' graphs above actually prove what Republicans argued all along, contradicting Democratic misinformation: The tax cuts and reforms did benefit Americans in every income bracket, on average. An analysis from a left-leaning think tank confirmed that in the first full year with the Trump/GOP tax law in effect, the overwhelming majority of taxpayers enjoyed a reduction:
An outrageous percentage of the supposedly urgent emergency spending doesn't even begin to go out the door until next year, when the pandemic will very likely be in the rearview mirror. Most of the money for schools doesn't get spent until 2023 and beyond. This was a $2 trillion 'never let a crisis go to waste' moment for the Democrats, and they're taking full advantage. They're able to do so because of the GOP's meltdown in Georgia. I'll leave you with even 'moderate' Democrats already turning their attention to their next multi-trillion-dollar project:
Eventual tax hikes for everyone are becoming more and more likely.
Comment:
This discourse is grim enough to make working adults weep. "They're able to do so because of the GOP's meltdown in Georgia".
This throw-away line is salt in the wound. There is a GOP meme that once we get our act together, we will roar back in the 2022 elections. This is ostrich, head-in-the-sand delusion. After the screams of protest for the fraud evident in the Presidential election, we really think that the same thing didn't happen in the Senate election? Really?
With the evidence of the national and state election fraud, coupled with the blatant strong arm tactics coming in H.R.1, how does the GOP think it still exists as a political party?
Progressive Marxist/DSA Democrat Leftists are not going to be up staged because it's been proven that the "Trump Tax Cuts" put more money in the People's pocket, energized the economy, reduced unemployment, scrubbed unnecessary regulations and the economy grew. Under Trump there were jobs everywhere. Employers couldn't fill jobs fast enough. But here's the kicker, Trump never raised taxes. He reduced the Corporate Tax rate companies came back to the United States. What he couldn't get done was repealing and replacing Obama Care. The "Deep State" didn't want to do it. What Trump really did was he showed that a business man can run the worlds largest company successfully. This is what the PM/DSA Democrats hated most. Trump actually out smarted the D.C. politicians. Trump did a lot more while fighting PM/DSA democrats and "Never" Trumper republicans especially Mitch McConnell. Trump was the only president that stood up to China and got China to trade fairly. But that's not going to last to long with Chyna Joey Xi. I don't look at graphs because graphs can be "Cooked" to make it appear that democrats are doing better when there not. I look at what Trump accomplished. He took on the "Deep State" and beat them at their own game, he had very little help from the Republicans.
Fact Check: About Those Viral 'Trump vs. Biden' Economic Charts... by Guy Benson (townhall.com)
11 Mar 2021 ~~ By Guy Benson
Lefties and journalists -- often one in the same, of course -- have been sharing charts on social media purporting to illustrate how much better Joe Biden's first major legislative achievement ('American Rescue Plan') will be for average Americans than Donald Trump's opening foray ('Tax Cuts and Jobs Act'). Because they appear to confirm typical partisan stereotypes designed to reflect poorly on Republicans, these have rocketed around the internet:
~Snip~
First off, we are comparing apples to oranges here. The Trump/GOP tax cut reduced Americans' tax burdens and simplified the tax code overall. It did not represent the government mailing one-off (taxpayer-funded) checks to people; it implemented a new policy to allow American families and businesses to keep more of the money they earn every year (reminder: the economy grew and government tax receipts increased after these tax cuts). Second, there are reasons why the data points above look the way they do. The so-called "COVID relief" bill will send direct one-time payments to Americans earning under a certain income threshold, excluding wealthier Americans. The tax reforms and cuts necessarily impacted higher earners because they were -- and still are -- paying disproportionately high percentages of all federal taxes:
Let's pause here for a moment. It's important to recall that after the 2017 tax cuts -- opposed by every Congressional Democrat -- were implemented, alongside the Trump administration's reduction of regulatory red tape, the US economy absolutely boomed. Top Democrats attacked the tax reform as an "armageddon" that would hurt (or even kill!) working and middle class people. That was all a lie. Incomes increased significantly, with workers benefiting disproportionally. A global pandemic from China temporarily shattered that prosperity, but the economy was rocking. Both 'Trump vs. Biden' graphs above actually prove what Republicans argued all along, contradicting Democratic misinformation: The tax cuts and reforms did benefit Americans in every income bracket, on average. An analysis from a left-leaning think tank confirmed that in the first full year with the Trump/GOP tax law in effect, the overwhelming majority of taxpayers enjoyed a reduction:
Looking exclusively at the individual federal income tax changes in the law, TPC found that almost exactly two-thirds of Americans received a tax cut, averaging nearly $2,200 -- including 82 percent of middle-income earners, who averaged a tax cut of $1,050. When all provisions of the law are examined, 80.4 percent of earners received a tax cut, including 91.3 percent of the middle class. Just 4.8 percent of the population saw their taxes go up, a disproportionate number of whom are higher-income earners who itemize deductions and live in high-tax states and jurisdictions. Broadly speaking, 80 percent saw a cut, 15 percent saw no change, and less than five percent saw an increase. This is the data.
~Snip~An outrageous percentage of the supposedly urgent emergency spending doesn't even begin to go out the door until next year, when the pandemic will very likely be in the rearview mirror. Most of the money for schools doesn't get spent until 2023 and beyond. This was a $2 trillion 'never let a crisis go to waste' moment for the Democrats, and they're taking full advantage. They're able to do so because of the GOP's meltdown in Georgia. I'll leave you with even 'moderate' Democrats already turning their attention to their next multi-trillion-dollar project:
Eventual tax hikes for everyone are becoming more and more likely.
Comment:
This discourse is grim enough to make working adults weep. "They're able to do so because of the GOP's meltdown in Georgia".
This throw-away line is salt in the wound. There is a GOP meme that once we get our act together, we will roar back in the 2022 elections. This is ostrich, head-in-the-sand delusion. After the screams of protest for the fraud evident in the Presidential election, we really think that the same thing didn't happen in the Senate election? Really?
With the evidence of the national and state election fraud, coupled with the blatant strong arm tactics coming in H.R.1, how does the GOP think it still exists as a political party?
Progressive Marxist/DSA Democrat Leftists are not going to be up staged because it's been proven that the "Trump Tax Cuts" put more money in the People's pocket, energized the economy, reduced unemployment, scrubbed unnecessary regulations and the economy grew. Under Trump there were jobs everywhere. Employers couldn't fill jobs fast enough. But here's the kicker, Trump never raised taxes. He reduced the Corporate Tax rate companies came back to the United States. What he couldn't get done was repealing and replacing Obama Care. The "Deep State" didn't want to do it. What Trump really did was he showed that a business man can run the worlds largest company successfully. This is what the PM/DSA Democrats hated most. Trump actually out smarted the D.C. politicians. Trump did a lot more while fighting PM/DSA democrats and "Never" Trumper republicans especially Mitch McConnell. Trump was the only president that stood up to China and got China to trade fairly. But that's not going to last to long with Chyna Joey Xi. I don't look at graphs because graphs can be "Cooked" to make it appear that democrats are doing better when there not. I look at what Trump accomplished. He took on the "Deep State" and beat them at their own game, he had very little help from the Republicans.
