To the Editor:
Well, it’s finally over; the most comprehensive tax overhaul in at least 28 years, will be signed by the President in a very short time, barring a major catastrophe.
The Democrats will continue to push the “It will only be beneficial to the very rich” tactic, but only until American taxpayers become familiar with the law and realize that the majority will get a tax break.
The Democrats’ other issue, the nation’s debt, will increase only minimally compared to the past eight years of a Democratic administration.
Since the economy is presently fairly strong, (in the last two quarters, the economy has grown at a rate higher than the years 2009-2016). the new law will provide a tremendous boost by providing better business opportunities, more jobs, and most importantly, extra money in taxpayer pockets.
It’s amazing that according to the news, only a small percentage of Americans think they will get a tax break. Obviously, not well informed.
Consider these facts:
Half of Americans make less or around $50,000 a year. Approximately half of them (24.9 percent) make around $25,000.
Sen. Marco Rubio fought for and got a change in the Child Tax Credit from $1,000 to $2,000.
Married couples filing jointly will double their standard deduction from $12,000 to $24,000.
There are more benefits:
Single filers will also see their standard deduction double.
Nevertheless, it’s a law that will benefit many that need those extra dollars and for that I’m happy.
Another thing, seeing the very rich be recipients of some benefits under the new law is not going to make me cry nor go buy a teddy bear for comfort, no matter how hard the press and the Democrats try to denigrate the law by pushing the idea that “only” the very rich will benefit from the tax bill.
The effect of the new law is already being felt by employees at Wells Fargo, AT&T, Comcast, Fifth Third Bancorp and Boeing, to name a few companies. Many more will join.
retired master sergeant