April 15th might not be a favorite day of the year for most Americans, but it is the perfect time to reflect on one major victory for the Trump Administration. Today marks the first Tax Day under Trump’s 2017 tax cuts. The Tax Cuts and Jobs Act went into effect on December 22, 2017, but we are just now able to fully see the change as we review our 2018 returns. Let’s take a moment to talk about some of the biggest highlights from Trump’s signature legislative victory.
Predictably, liberals were quick to spread the lie that the cuts were only for the rich. The hard facts of the issue tell a much different story. Nearly every tax bracket was significantly lowered. The top bracket received a 2.6% decrease, but the middle brackets saw a 3 or even 4% decrease. That may not seem like much, but when you combine that with a doubling of the standard deduction, a doubling of the child care tax credit, and a number of other big wins, that amounts to as much as 60% less coming out of a middle class family’s paychecks. This isn’t just some obscure diplomatic win. This is a huge tangible victory for the Trump Administration on behalf of everyday Americans like you and me.
The wins don’t even stop there. The Tax Cuts and Jobs Act was also used to eliminate the individual mandate that made Obamacare so burdensome for so many middle class American families. No longer will American families be taxed just for choosing what to do with their own paychecks. It is not the job of the federal government to use our tax system as a sword to penalize behaviors they do not like. The Trump tax cuts are about more than giving Americans their money back. They are about giving Americans their freedom back.
This Tax Day, take a break from tapping away on your calculator and thank President Trump for giving us the Tax Cuts and Jobs Act. Economic freedom is on the rise in America, and our economy is rising right along with it.