Commentary

By now, regular readers of Kramerontheright are familiar with my selection of a “Fool of the Month,” not just on April 1, but on the first day of every month.

When I saw the Washington Examiner headline – “It’s Official: Trump’s tax cuts paid for themselves” – I was reminded of the Democrats who got hysterical over the cuts, and I thought ‘who better to recognize as my February 1, “Fool(s) of the Month” in memory of their hysterics in 2017?’

There was Nancy Pelosi, referring to it as “Armageddon” and the “worst bill in the history of the United States Congress” and Chuck Schumer’s remark that it was a “cynical one-two gut punch to the middle class.”

Comments by the leftist media were over the top, too. The Washington Post saw it as a sequel to the Great Depression with unemployment at 25 per cent, and journalist Kurt Eichenwald tweeted “America died tonight.”

President Biden frequently campaigned with the pledge to let Trump’s Tax Cuts and Jobs Act of 2017 expire, but Senators Manchin and Sinema aren’t on board.

In the five years since the tax cuts took effect, the Act raised revenues.  The latest report of the Congressional Budget Office calculated that the federal government collected $4.9 trillion in revenue last year, up nearly $1,5 trillion since 2017, the year before the tax cuts became law.

Up 40 percent in five years, despite the two-year hit on the economy from the Covid-19 lockdowns.

Congress must push to permanently extend the Trump tax reforms, set to expire over the next few years, all while controlling runaway spending. Biden, however, wants to increase taxes.

Meanwhile, nearly half of all the states now have plans to cut rates on income, and flat-rate tax reforms have gained interest in 13 states, the latest being Wisconsin.

May God continue to bless the United States of America.