Corporate America began spreading the wealth to their employees even before an historic tax cut reached President Donald Trump’s pen. The first to play Santa was AT&T which plans to cough up $1,000 bonuses to an estimated $200,000 employees. Following in their footsteps was Boeing which tweeted they intend to give out “$300M in employee-related and charitable investments.” Not to be outdone – Comcast announced $1,000 bonuses to 100,000 of its employees along with the Sinclair Broadcast Group which plans to put $1,000 bonuses under the tree for their 9K employees.
Then America’s big banks joined the party: Fifth Third Bankcorp promised a $15 minimum wage and Wells Fargo the same, along with $400M contributions to charity. Finally, Bank of America announced $1,000 bonuses to 145,000 of its employees.
Left Says Bah, Humbug
Over on the left, there was a loud and clear “Bah, humbug” from the Democrats. This is not surprising as not a single, solitary Democrat voted in favor of the Tax Reform legislation that is sure to jump-start the American economy. Even in the face of the obvious, Sen. Chuck Schumer (D-NY) claimed the new law would not produce higher wages. Try explaining that to the folks at Fifth Third and Wells Fargo, Mr. Schumer. On second thought don’t because they will likely not be able to keep a straight face while listening to your inane diatribe.
The new law includes lowering the individual tax rates, doubling the tax credit for children, removing the unpopular “punishment clause” of the so-called Affordable Care Act and a variety of small business and corporate stimulus provisions. The point of all this is to create jobs and fire up the U.S. economic engine.
So, what does the elite leftist media have to say about all this? Here are a few headlines to put in your stocking:
New York Times: In signing Sweeping Tax Bill, Trump questions Whether He is Getting Enough Credit
Huffington Post: Ivanka Trump Goofs Up on Tax Law In Her Televised Boast
Cosmopolitan: 4 Reasons You Should Be Disgusted by the GOP’s Immoral Tax Plan
Vox: 7 ways rich people can game the Republican tax plan, explained by a tax expert
It seems the left cannot be happy with anything the President says or does – even if their own people are beneficiaries. These doomsday preppers sound an awful lot like a modern-day Scrooge, “If I could work my will, every idiot who goes about with ‘Merry Christmas’ on his lips should be boiled with his own pudding and buried with a stake of holly through his heart, averred Scrooge in Charles Dickens classic “A Christmas Carol.”
Polls show that despite palpable benefits of the tax plan this new legislation is wildly unpopular. The NBC News/ Wall Street Journal graph below shows 41% of Americans think the tax bill is a bad idea:
How can this be, a rational person may ask? Could it perhaps be the result of the constant negative pounding from the leftist media? Could it be the Scrooge-like comments from the likes of Schumer & Company?
Sooner or later the truth will become evident as the tax reform bill begins to turn the American economy around much like the Titanic – only the iceberg is avoided. It’s been said that “You can fool all the people part of the time, or you can fool some people all the time, but you cannot fool all people all the time.” Although the provenance of this quote is hotly debated (Lincoln, Wheeler or Boetcker) the sentiment surely applies here.
It is worth noting that it is never wise to consider the American people the fool as this assumption can — as often as not — come back to bite you. And when it does, Mr. Schumer and his minions will finally have a legitimate reason to don their stovepipe hats for another theatrical performance as Mr. Scrooge.