Taking their cues from Nancy Pelosi and CNN, leftist Democrats are in denial. I had the opportunity this week to tell a friend of mine, who is a devout leftist, the results of the Trump tax plan on my employees' take-home pay. His response was both shocking and yet, not unexpected.
Faced with the hard truth backed up by undeniable facts, his only response was, "It didn't happen... You're lying". After repeating this mantra several more times to cover up my recitation of the evidence he did the equivalence of putting his fingers in his ears and repeating, "Na, na, na, na!" to drown out having to hear the hard truth. In other words, if he didn't hear it on CNN, it can't be true.
On our payroll, where everyone is a taxpayer (everyone has federal withholding on their paychecks before and after the tax reductions), the average savings on gross wages was 3.5%. The range is between 2.1% and 4.3%. A single guy making $60,000 saw an annual savings of $1,740, or 2.9%. That's not crumbs.
This is the savings on Gross Wages. I prefer to look at the percent increase of take-home pay since this is after-tax savings as opposed to a bonus, which has additional taxes taken out. The percent savings on net wages for the employee above was 4.0%. The average savings company-wide on net payroll is 5.0%!
This is the money that will fuel the 5.4% first quarter GDP growth just reported by CNBC.
If my leftist friend, CNN and their crumby leader Nancy Pelosi ever pull their fingers out of their various orifices long enough, they might soon have to accept the truth that Trump and the Republicans got this one right and by living in denial, they are up the river without a paddle.