Democrats – including, most infamously, Nancy Pelosi – have downplayed the effect the Republican/Trump tax cuts will have on workers and the American middle class, insisting that the whole thing amounts to one big giveaway to the rich and powerful. The rest of the country, according to Pelosi, gets nothing but the “crumbs” leftover.
But according to a new analysis from Americans for Tax Reform, families and employees around the country are quite enjoying their collection of crumbs. The tax cuts opened up a new world of employee benefits at many of the largest corporations in the country in addition to what it did for individuals and families come tax time. While emphasizing the across-board benefits for American workers, the ATR report also outlined some of the specific ways in which companies are helping their employees succeed as a result of the tax cuts.
“Lowe’s will be expanding its benefits package for full-time workers to include maternity leave for 10 weeks, paid parental leave for two weeks, adoption assistance of up to $5,000, and faster eligibility for health benefits,” the report noted. “McDonald’s Corporation announced it will allocate $150 million over five years to its global Archways to Opportunity education program. This investment will provide almost 400,000 U.S. restaurant employees with accessibility to the program as the company will also lower eligibility requirements from nine months to 90 days of employment and drop weekly shift minimums from 20 hours to 15 hours.”
The report also highlighted new benefits at Iron Horse Energy, Rolls-Royce, and many other American businesses who now have a corporate tax rate that makes sense rather than one designed to punish success.
Of course, that’s only part of this story. The other part, well, we began to see what these tax cuts mean for the economy as a whole with Friday’s GDP report. The second quarter of the year saw the U.S. hit a 4.1% growth rate for the first time in years, and a good bit of that number can be credited to the tax cuts. Business investment grew at a rate of 7.3% for the quarter, simply because the new corporate tax rate makes it profitable for companies to invest in U.S.-centric plans.
So Democrats can feel free to run against these numbers in the fall if they wish; they’re certain to have the mainstream media behind them, assuring all of us that while the economy looks great now, it’s sure to tank eventually. Unfortunately, Americans tend to believe their own eyes over the word of slimy politicians who want to take us back to the days of the recession and Obama’s handcuffed, anemic recovery.
The shackles are off. Every day, this nation’s voters look wiser and wiser for choosing a successful businessman to run the country.