If you listen to the mainstream media and Democrats, you would come away believing that the recently passed tax reform bill will only benefit the wealthy and not the average American, or at least that’s what they want you to believe. Consequently, many Americans are skeptical about the bill and how it will impact them.
Wednesday morning, Speaker of the House Paul Ryan appeared on CBS This Morning, one of the more liberal and Democratic biased morning news shows, and explained what the new tax bill does and why Republicans did what they did and why they believe this will be the best thing for all of America.
Ryan opened up by saying:
“This is going to help people get more jobs at better wages and simplify the tax code.”
Then, he was asked:
“I think people want to understand still what’s in this tax code and if you look at it, the majority of it does go essentially to corporations for a tax cut, so why are you convinced that they are going to use that to increase wages and hire more people.”
“Well first of all, go to FairAndSimple.gop if you want to actually see the details and specifics for yourself, but, I would beg to differ. The average family of four in America earning the median income is going to get a $2,059 tax cut and when more than half of Americans are telling us that they’re living paycheck to paycheck, that’s real relief. When you double the per child tax credit, when double the standard deduction and you lower tax rates across the board for every income group, that’s real relief for families, for individuals. So, that’s really helpful and that’s really something that I think is needed in these difficult economic times where people are literally living paycheck to paycheck.”
“On the business side, when you tax your businesses at such higher rates than our foreign competitors are taxing theirs, we’re losing in that global competition. More importantly, US businesses are moving abroad and becoming foreign businesses because of our tax laws. So, we’re stepping in front of that, we’re modernizing our tax system and we’re getting from what is arguably the worst tax system in the world to one of the best tax systems in the world, and that going to give us faster economic growth, it’s going to bring dollars back into our economy from overseas and that will give us better wages, more jobs. That’s why we’re doing this.”
When asked about polls showing that most people view this bill as far more generous to corporations than it is to individual taxpayers, and if they are wrong, Ryan replied:
“Yeah, they are and I think that what it is, is that you’ve had this big debate on TV where Republicans and Democrats are arguing with each other, pundits in the media are saying this and that. When you actually break down the components of this bill, it polls extremely well, but more importantly, when it gets in place, when people see their paychecks getting bigger in February because withholding tables have adjusted to reflect their tax cuts, when businesses are keeping more of what they earn, when they can write off their expensing and investments in their businesses and hire more people, that’s going to change its popularity, I am convinced, so, there is just tons of confusion out there as to what this does or doesn’t do. A lot of people think it’s going to raise their taxes; when every income group on average gets a tax cut, so, the proof is in the pudding, and I think the results will speak for themselves.”
Even though Democrats like Senate Majority Leader Chuck Schumer and America’s only admitted socialist Senator, Bernie Sanders, continue to paint a gloom and doom picture of the tax bill, what they are telling the American people is nothing more than a bunch of partisan Democratic pile of manure!