Heading into the 2018 midterms, the Democratic Party has already decided to campaign on an interesting platform: taking back the money that the tax reform bill pushed through by President Trump and the GOP has put into the pockets of every American.
Democrats in Congress recently released a plan outlining what their agenda would be if they took control of Congress in 2018. Among a number of concerning proposals, one of the most frightening aspects of the Democratic plan is the fact that they intend to completely reverse the tax cuts that the GOP tax plan provided given the first opportunity they have, effectively taking back the gift that Americans everywhere have been given.
In describing this aspect of the plan, Sen. Chuck Schumer described the tax cuts as “unpopular”. Of course, logic alone would dictate that most Americans are not going to find anything that puts more money in their pocket to be “unpopular”, and the poll numbers also bear this out. Once tax reform was passed, President Trump’s approval rating hit an all-time high. To Chuck Schumer and the rest of his delusional comrades, though, taking back the money that so many Americans have been relieved to have available seems like a pretty solid strategy for winning votes in the 2018 midterms.
Under the Democrat’s proposed tax plan, the corporate tax would be raised from the 21% it was cut to up to 25%. Granted, this is still much lower than the 35% corporate tax rate that was in place before tax reform, but it’s still more than enough to stifle the growth that tax reform has enabled and discourage companies from dolling out wage increases and bonuses to their employees.
Other aspects of the Democrats’ proposed tax plan that are sure to be unpopular include raising the tax rate for the highest income tax bracket from 37% to 39%, cutting the “death tax” deduction in half, and reinstating the alternative minimum tax. Democrats have billed the proposals as a way to increase taxes on the wealthy, however, these policies are sure to increase taxes for a large majority of Americans and not just the ultra-wealthy.
Of course, the idea that Democrats could accomplish all this before 2020 at the earliest is purely hypothetical. Even if Democrats were to take control of both chambers of Congress in 2018, any bill they passed would still have to be signed into law by President Trump. While Trump may be unpredictable at times, it’s ludicrous to think that he would sign into law any bill that negates the biggest accomplishment he has had thus far. Even if the Democrats are able to get a new tax bill to President Trump’s desk, it would almost certainly be vetoed the minute it arrived.
Nevertheless, the Democrats’ plan to reach into the wallets of Americans everywhere and snatch away the money that they just recently received is concerning, to say the least, especially considering the fact that this scenario would be much more likely to become a reality if Democrats are able to control both Congress and the White House in 2020.
One silver lining is the fact that Democrats are, at the very least, being open about their plan. By running on the platform of taking away Americans’ money, Democrats are letting voters everywhere know what the consequences will be if they hand control of Congress back to the Democrats in 2018. This policy might be popular for a small base of Democratic voters, but most Americans – Republican and Democratic alike – are likely to think twice before voting for someone who is promising to take their money away if elected.
Even Forbes was able to see that this might not be the most well-thought-out political decision, publishing a piece warning that the Democrats’ war on tax reform could backfire in a big way. Of course, Democrats such as Nancy Pelosi who called the thousands of dollars that middle-class families will receive due to tax reform “crumbs” probably truly do believe that these tax cuts are unpopular. Now, we can only hope that these Democrats are given yet another serious wakeup call when Americans take to the voting booths in 2018.
~ American Liberty Report