There is not one, but two holidays this month that celebrate a resurrection. Of course, we all know that Easter Sunday and the accompanying Good Friday remind us of the resurrection of our Savior. However, as we scout out the best places to hide the eggs, let’s not forget about next Monday, which celebrates a resurrection of a very different sort. Tax Day isn’t just the day to get your taxes filed this year. It is also a great reason to celebrate how our president has brought the American economy to new heights with the essential Tax Cuts and Jobs Act. After having these cuts for the entire fiscal year of 2018, the benefits are both tangible and multitudinous. Of course, the benefits extend far beyond lower taxes for American families. Businesses are booming in America like never before as a direct result of these cuts.
One of the biggest hallmarks of the Tax Cuts and Jobs Act is the slashing of the corporate tax rate from 39% to 21%. This kind of drastic action was long overdue. For years, American businesses were strapped with the highest tax rate in the world. It does not take too much to figure out why so many of these businesses were going over to nations like China, who have a rate of 25%. Now, American companies can be truly competitive on the world market.
These principles can easily be backed up by the facts. The numbers since the enactment of the Tax Cuts and Jobs Act prove that low taxes work. Unemployment has fallen to a 49-year low. Women, Hispanics, and African-Americans in particular all have historic low unemployment rates, which means more independence and more of the American dream for minority families. Wages and GDP have both gone up by more than 3 percent in the last year too.
In every measurable way, the Tax Cuts and Jobs Act has been a huge success. President Trump proved that we do not need artificial government intervention like sky high minimum wage laws to make life better for the American family. Low taxes brings organic and authentic economic prosperity to all.