Nancy Pelosi is running out of hysterical pejoratives to hurl at the now-passed GOP tax reform bill, which will cut taxes for 80 percent of Americans. She's already called it "armageddon," and the "end of the world," adding "Frankenstein" to the list just today. Oh, and poor little "Tiny Tim!" These are patent absurdities. The bill is a mostly-good mixed bag that will make US companies more competitive and allow the overwhelming majority of taxpayers to keep more of the money they earn. But the unglued demagoguery -- including the nutty shouting that tax reform will kill thousands of people -- is already being contradicted by reality. Despite attestations from a large majority of manufacturing CEO's that they'll expand their businesses as a result of tax reform, liberals confidently predicted that the legislation would do nothing to help workers or raise wages. How's that going? Behold, Armageddon:
Comcast says it's giving $1k bonuses to more than 100k employees, citing tax bill and FCC's net neutrality decision: pic.twitter.com/bKiJ2kXkZS— Jonathan Tamari (@JonathanTamari) December 20, 2017
Congratulations, err, NBC employees, who work for Comcast. More abject human suffering:
JUST IN: Fifth Third Bancorp announces plan "to raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees" following passage of tax bill. https://t.co/GmM8bT0zjh— CNBC (@CNBC) December 20, 2017
Will the horrors never cease?
Who could have predicted this??????— AshLee Strong (@AshLeeStrong) December 20, 2017
"AT&T is giving $1,000 bonuses to 200,000 employees after tax bill" https://t.co/M8ckGSg9Eo
JUST IN: Wells Fargo hikes its hourly pay rate to $15 & will aim for $400M in philanthropic donations next year due to the newly-passed GOP tax bill. https://t.co/GmM8bT0zjh— CNBC (@CNBC) December 20, 2017
You'd think the economically-illiterate "Fight for 15" minimum wage agitators would be pleased by that last development. (Spoiler: They're not). Democrats have shifted from angrily insisting that businesses wouldn't invest in expansion or pass down tax savings to employees to pooh-poohing real world evidence that their predictions were wrong. These are just "PR stunts!" It's "only" $1,000 per employee! It takes a special type of aloof elitism to sneer at $1,000 bonuses or tax savings for average American families. These are truly out-of-touch and self-defeating criticisms, and this made me laugh:
Evolution of the tax bill meltdown:— Jason Howerton (@jason_howerton) December 21, 2017
"If this passes, you're going to die."
"Ok, you won't die but the billionaires are gonna take all your money."
"Fine, they're giving you bonuses, but it's only for PR."
Incidentally, for people decrying the corporate tax cuts in the bill, let's recall that America's statutory and effective corporate rates are so inefficient and internationally uncompetitive that even President Obama wanted to lower them substantially. Democrats were allegedly on board with that idea until "resisting" required them to change their position. This chart helps illustrate how the GOP reform package would bring the US rate squarely into the competitive mix of the world's developed economies:
There was a clear negative outlier on that chart, and it was the United States of America. Not anymore. I'll leave you with the New York federal exchange board's projection of close to four percent fourth quarter GDP growth, and Goldman Sachs' estimate of nearly three percent unemployment. The apocalypse is going pretty well. Also, if the shrillest opponents of the tax bill are honest with themselves, how many of them will voluntarily overpay their taxes to allow federal bureaucrats to spend their money, rather than spending, saving or donating it as they see fit?
If you're ?? about tax cuts you're about to get, do you...— Guy Benson (@guypbenson) December 20, 2017
(a) begrudgingly accept newly untaxed $ & spend/save it as needed?
(b) donate $ to charities & causes close to your heart?
(c) voluntarily overpay the treasury & let federal govt spend it?
Who picks door #3? Anyone?