The New York Times editorial board, which claims to be “a group of opinion journalists whose views are informed by expertise, research, debate and certain longstanding values,” appears to have deliberately mislead readers on the effects of President Donald Trump’s tax cuts.
Wednesday’s editorial, titled “There’s No Such Thing as a Free Tax Cut,” completely ignores the fact that tax revenue increased after the tax cuts were passed and blames the tax cuts when it should be blaming government spending.
Entrepreneur and best-selling author Carol Roth took the editorial board to task for its claims, writing on Twitter that the opinion article was “Incredibly misleading.”
“With the tax cuts, ‘revenue’ was up 4% – we collected more taxes w the cuts,” she tweeted. “The problem is increased spending- which is a huge problem that I have written on/talked about extensively- but should not be conflated w receipts.”
In a follow-up tweet, Roth explained that “while our population has grown 15% since 2001, Govt spending has grown 137%.”
The Times’ editorial board predictably leaves out any mention of how much revenue was brought in after the tax cuts, something one would expect to see in an article claiming the tax cuts weren’t helpful. Instead, the Times’ claims it was a “risible fantasy” for Treasury Secretary Steven Mnuchin to claim that the tax cuts would bolster economic growth, when the Times believes the government lost money by lowering taxes.
This is the Leftist premise on tax cuts on the whole: All your money belongs to the government, so anything you are allowed to keep costs the government. Therefore, tax cuts are bad for the government.
The problem, as always, is that the government continues to spend more than it brings in. Despite Republicans’ constant complaining during the Obama administration, the annual federal budget deficit is now over $1 trillion even though until early 2019, the GOP controlled the White House, Senate, and the House of Representatives.
The Times goes on to claim the tax cuts “were designed to provide the largest benefits to wealthy households and big companies.” As with any tax cut, the people who pay the most in taxes (the wealthy and large corporations) are going to get the largest cut. The Times then harps on Trump for predicting economic growth would reach 6% a year. That may not have happened, but the U.S. Real GDP growth rate under Trump has consistently been over 2%, approaching 3% at the end of 2017.
The Times simply fails to provide evidence counter to its claims that tax hikes are better than tax cuts. It even bemoans the alleged exacerbation of “economic inequality” created by the tax cuts, which, again, are going to be higher for people who pay more in taxes.
The Times tries to claim the tax cuts were akin to Keynesian stimulus, even though that kind of stimulus actually costs the government money, while tax cuts allow citizens to keep more of their own money.
The Times may want their readers to believe the tax cuts hurt the economy and the country, but real Americans saw more money in their pockets throughout the year, allowing them to spend more and feel more secure about their own budget.
Author: Ashe Schow
Source: Daily Wire: New York Times Editorial Board Predictably Misleads Readers About Trump Tax Cuts