Top Democrats: $1,000 Bonuses Are Chump Change
Pelosi and Wasserman Schultz dismiss the clear benefits of Republican tax reform to workers.
The Democrat slogan for 2018 truly is “Defeat peace and prosperity!” As our Louis DeBroux noted Wednesday, “Democrat politicians and Leftmedia talkingheads repeatedly make utter fools of themselves” with their incessant and stubborn dismissal of the gains American workers are seeing because of tax reform. Apple, Walmart, Target, Disney, Starbucks, Verizon, AT&T, Home Depot and Fiat Chrysler are just a few of the 250 (and counting) companies that have increased wages and/or given bonuses to employees. Remember, the lower tax rates that made this possible were passed by Republicans without a single Democrat vote. Now, in a desperate attempt at election spin, the Jackass Party is intent on living up to its mascot.
According to former DNC chief and current Florida Rep. Debbie Wasserman Schultz, these bonuses are chump change. “Frankly, if you look at the bonuses, which I haven’t heard of a corporate bonus more than $1,000 so far — which by the way is taxed, so it’s not $1,000,” Schultz said. “And then you spread $1,000 over the course of a year — to think of about how much that is — of course they get it all at once. But I’m not sure that $1,000 — which is taxed, taxable — goes very far for almost anyone.”
Schultz is only taking cues from Nancy Pelosi, who warned of “Armageddon” before tax reform was passed and dismissed it as “pathetic” “crumbs” afterward. Pelosi too doubled down, saying Thursday that workers are getting a “crumb” while corporate shareholders enjoy a “bonanza.” She explained, “Whatever they’re doing, it’s nice, it’s cute, [but] it’s not commensurate with what advantage they have in the tax bill, and it’s not fair to the American worker.” In fact, she insisted, “This tax cut for corporate America is theft.”
In other words, workers won’t benefit all that much but corporate “fat cats” will. A couple of things. Yes, Ms. Schultz, bonuses are taxable, but at the new, lower (Republican) rate. And “fat cats” like Schultz and Pelosi may not notice $1,000, but the rest of us workers will. Indeed, the pair and their party sang a far different tune when they temporarily cut the payroll tax by … $1,000 a year on average. Furthermore, tax cuts are not, as Democrats imply, a zero-sum game, nor is it in any way “theft” to let people and businesses keep more of their money. And Schultz may not be aware, but some bonuses are $2,000 or $2,500. You know, “crumbs.”
By all means, though, Democrats should keep opposing peace and prosperity.