The vote tally was 51-48 in the senate and 224 to 201 in the House according to AP News, without a single Democrat voting for it on either side.
While the mainstream media has focused primarily on “the cuts to the wealthy” narrative, this reform bill cuts taxes for citizens in all income brackets, lowers the corporate tax rate, eliminates the estate tax, and defunds the Affordable Care Act. It also finally opens up the Arctic National Wildlife Refuge(ANWR) for oil drilling, a feat that has been considered impossible for 40 years.
This is the largest tax overhaul of its kind in at least a century with the last major one occurring more 30 years ago during the Ronald Reagan administration. While opponents to the bill have argued the Reagan’s tax cuts created a higher deficit, the census bureau tells a different story.
Tax cuts, in general have never been the cause of added public debt. The Regan era tax-cuts, indeed brought more revenue into the IRS and the reason for the increased deficit was solely the result of out-of control congressional spending. In fact, dating back to the 1920s, every tax cut ever implemented in the United States resulted in higher tax revenues.
President Donald Trump’s already booming economy will likely see an enormous boost as a result of this legislative victory. One of the driving factors will be the corporate tax rate which fell from 35%, one of the highest in the world, to 21%. Businesses will have a far greater incentive to invest in the United States which will essentially contribute to an increased job demand and a higher GDP.
According to the mainstream media, this is a major victory for the President, who has suffered defeat legislatively on several issues this year. One of the failures was the repeal of the Affordable Care Act (Obamacare), which the new GOP tax overhaul addressed.
Although the repeal itself was not passed legislatively, the president eliminated some of the funding earlier this year via presidential power. And, the passage of the today’s historic tax cuts strips the counterproductive health care bill of the unpopular mandate that forces citizens to buy health insurance or face a tax penalty. This is a clear victory for the Trump administration over the failed “healthcare” program via defunding.
However, Trump has also been successful on many other fronts over all. In spite of continuous attacks by the deep-state media complex, Trump has been able to boast a roaring economy, the most judges ever appointed to the federal bench by any president, a lowering unemployment rate, the slashing of commerce-choking regulation, and a skyrocketing stock market.
The Trump administration, just this week, took internet control out of the government’s hands and placed it back on the free market. His foreign policy has resulted in greater respect by world powers such as China and the Saudis, the overwhelming of ISIS in Iraq and Syria, the further isolation of North Korea, and the recognition of Jerusalem as Israel’s capital.
The passage of this historic bill has caused many in the deep-state media complex to act irrationally. Just prior to the Senate passage of the bill, Rosie O Donnell sent out a tweet offering to pay GOP senators to vote “NO” on the bill.
Leftist pundits such as economist Larry Summers took to the internet earlier this month with an argument that was picked up by several mainstream media news outlets including the Washington Post, Village Voice, and the Atlantic. The extremist claimed that the GOP tax bill would “kill 10,000 people a year”. However, this is a typical leftist scare tactic.
Twitter lit up with posts charging that people “will die” at the news of the tax bill passing. Conservative media pundit, Ben Shapiro humorously replied, “Not sure how everyone will die because of the tax cuts when they’re already dead because of net neutrality repeal.”
Democrats and media commentators have long said that many Republican ideas will kill people in order to advance a leftist ideology of larger government. However, almost every piece of legislation ever proposed by the Democrat party in the name of “helping people” has done the opposite.
The Department of Education has presided over the demise of child learning, welfare programs designed to fight poverty have caused more poverty, and increasing taxes on the “wealthy” has only resulted in stifling the economy and lowering living standards of citizens in general.
In spite of inflated claims and attacks by the deep-state media complex, the bill has passed and will likely fuel one of the largest economic bursts in the last thirty years. Even without the tax cuts in place, the President’s policies have contributed to the largest increase in GDP in the last nine years since taking office less than a year ago.
The potential for growth with the cuts in place is enormous. The increased national wealth as a result could even shatter economic records dating back to the 1920s. Amidst continuous attacks by all factions of the deep-state media complex, President Donald Trump is indeed delivering on his campaign promise to “Make America Great Again.”
In yesterday’s tax reform victory speech President Trump outlined all of the bill’s accomplishments, touted it as a Christmas present to the “United States” and gave several architects of the bill the opportunity to speak.
But between speakers, President Trump also reminded America that “We can say ‘Merry Christmas’ again. People are saying ‘Merry Christmas’ again and we like the sound of it.”