Leftists are just SURE that Trump’s tax cuts are all about lining the pockets of his corporate cronies. What they don’t want to admit is that under President Obama, real corporate profits rose 11 percent a year but “the pass-through to workers” was only 0.3 percent.
Nancy Pelosi called Trump’s plan to eliminate the SALT deduction “an insidious effort to raise taxes on middle class families … across America.” Investors Business Daily explains that “the benefits of the SALT deduction go almost entirely to upper-income families.”
The chairman of the president’s Council of Economic Advisers, Kevin Hassett, says cutting the corporate tax will deliver growth and higher wages. Unsurprisingly, this ignited the Left. George Will explains why he’s probably right.
Wall Street Journal Editorial: “What do left-of-center economists have against a tax cut that would raise wages for American workers? They’re always telling us that America needs a raise, and that labor isn’t capturing enough of corporate profits, yet along come Republicans promising to raise wages by encouraging more investment in the U.S., and they react with shock and smears.”
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