The left-wing liberal media is destroying any hope of a tax reduction for the American middle class. Headline after headline of the destroy-Trump media spews contrary rhetoric that aims to kill the legislation and put an end to the prolonged American growth cycle we’ve seen under the Trump presidency. The latest negative attention centers around the deduction for state and local taxes. While this is a legitimate concern for high tax states like New York and California, the impact to the rest of America is nil.
According to the IRS, only 30% of tax filers itemize their deductions. The other 70% don’t. Now, once you raise the standard deduction by double, even fewer taxpayers will itemize. So, only the rich. I repeat, only the rich will still need to itemize their deductions. The vast majority of Americans will not have enough itemized deductions (under today’s tax code) to itemize; making the elimination of many itemized deductions a mute point. This point and this point alone counters 90% of all arguments currently being made by the left-wing conspiracy theorists. In fact, by my stubby pencil math, 85% of all Americans will no longer have to itemize their deductions which will make filing taxes much easier. The other 15% may have to itemize, they may have to pay a little more, and they may have to start lobbying their states to stop being so inefficient. But, so what? We’re talking about the millionaires of our country. The people who make a lot of money already. The people who claim that they don’t mind paying a little more in taxes. Just ask Warren Buffet…
So, at the end of the day, everyone needs to understand that this tax cut is good for business. It’s good for America. It will put us on a stabilized path of 3% or better GDP growth. Growth that will ultimately balance our budget and pay down our country’s debt. The kind of growth that will stimulate economic activity, and produce increased demand for labor which will raise your wages. These tax cuts have the potential to create a new and prosperous business climate for years to come. A climate that will not only impact the country’s middle class, but their children and grandchildren across the full spectrum of society.
Don’t forget folks; a massive debt burden that doubled under Democratic oversight during the Obama years, put our country at an incredible disadvantage. The disadvantage is worsened when our companies aren’t on the same playing field as the rest of the industrialized world. America should get behind this tax bill right now. We have to get it done! We have to get it done now!
Don’t get distracted by the negative headlines. Call your Congressmen. Call your Senators. Write them letters and make your voices heard across the country. Otherwise, nothing will change. We’ll sink further into debt. Our country will ultimately go bankrupt. It’s not going to be a pretty day when we declare to the world that we can no longer pay the interest on our debt. We’ll wind up like the socialist country Venezuela if we don’t get this right. So… FIGHT! Call! Advocate for this. We need it. Your nation needs it! Your kids need it! Future generations need it! FIGHT! WIN!