Democrats will impose massive tax hikes if they win Congress

If Democrats take control of Congress in November, they will attempt to impose massive tax hikes in 2019.

With the midterms less than two months away, the Left has vowed to undo the Trump tax cuts as soon as they can and are already pushing new, trillion-dollar-a-year tax hikes. For instance, House Minority Leader Nancy Pelosi, D-Calif., has promised to undo the tax reform legislation as soon as possible, even comparing it to Armageddon. Not to be outdone, Senate Minority Leader Chuck Schumer, D-N.Y., referred to the bill as a “stunning deception.”

While this rhetoric may play well with the liberal base, it is far from the truth. In the real world, the tax reform legislation, known as the Tax Cuts and Jobs Act, has been a net positive for taxpayers, with 90 percent of wage earners seeing increased take-home pay. Thanks to the TCJA, a family of four with an annual income of $73,000 will see a tax cut of over $2,000, a 58 percent reduction in federal taxes. This same family of four will see almost $45,000 in higher take-home pay over the next decade, according to the Heritage Foundation.

The tax cuts have grown the economy, and businesses across the country have responded by giving their employees bonuses and pay raises and increasing retirement contributions, child care, and adoption benefits. Job openings are at a record high, while the unemployment rate is at an 18-year low. Quarterly GDP hit 4.1 percent in the second quarter of 2018 and is projected by the Atlanta Fed to remain strong at 3.8 percent in the third quarter. Since Trump took office, the economy is averaging over 3 percent growth — a 50 percent increase compared to economic growth under former President Barack Obama.

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