Numbers don’t lie: Tax cuts work
It’s easy to oppose the recent Republican tax cuts when the mainstream media tells you to do so.
Millions of dollars were poured into advertising to tell viewers that the Tax Cuts and Jobs Act was bad for America. Even one of the nation’s largest newspapers called on Americans to oppose the bill. Before the final vote, the New York Times’ editorial board took to Twitter and urged readers to contact their representatives to express their displeasure with tax cuts. The blatant and unprecedented lobbying attempt obviously didn’t work, and now the Republican package is more popular than ever.
Just last month, the New York Times released a survey showing the majority of Americans now approve of the tax law. Much can explain the Tax Cuts and Jobs Act’s increasing popularity, perhaps nothing more so than (justifiably) favorable media coverage.
News outlets are finally showing that tax cuts have indeed helped millions of Americans — more than four million to be exact. Americans for Tax Reform has compiled a running list of job creators who have distributed bonuses, raised wages, or increased benefit packages due to tax savings from federal tax cuts.
Even two local Maine businesses were mentioned. Camden National Bank said it will distribute $1,000 bonuses to all non-executive, full-time employees in addition to permanent salary raises for employees. IDEXX Laboratories in Westbrook announced the company will enhance its 401(k) plans. The company will now match every dollar an employee contributes up to five percent of the employee’s salary. These are just two examples of the over 400 job creators who have already given back to their employees.
And it’s only been four months since tax cuts became a reality. Imagine their positive impact by the end of 2018.
However, the greatest change in public opinion surely comes from employees who have seen an increase in their take-home pay. Economists estimate that a single filer making $46,000 annually will see their bi-weekly paycheck increase by roughly $40 each cycle. That amounts to roughly $1,000 each year. While Democrats want taxpayers to believe it’s only “crumbs,” I know that an additional $1,000 a year goes a long way for lower- and middle-class Mainers. When you think about it, $1,000 can help finance a down payment on a car or even a much-needed vacation.
Tax cuts will only become more popular, as more Americans reap the benefits. More and more Americans will open their paychecks each month and notice that they get to take home a little more of their hard-earned money. Others will open their work emails and read that they’re getting a raise, bonus, better benefits, or all of the above just because of tax cuts.
I only hope that Mainers will stop believing the negative propaganda surrounding tax cuts and let their tax savings speak for themselves.
Dustin White is a Republican state representative from Washburn.