It’s Not Real Money Now, Is It?
Democrats in Congress – all of whom voted “Bah Humbug” on the tax cut bill which President Trump described as a Christmas gift to the American taxpayers – and various of their more strident constituencies have boldly stated that a $1000 – $2000 tax cut wasn’t real money to poor and middle-class American families.
The funny thing is that $1,000 a year, or about $40 a paycheck, was real money back in 2011 when Obama lambasted House Republicans for refusing to extend the payroll tax cut.
Ending the payroll tax cut will cost the typical family making $50,000 a year about $1,000 a year, which is a lot of money for struggling families. President Obama explained today:
Our failure to do this could have effects not just on families but on the economy as a whole. It’s not a game for the average family, who doesn’t have an extra 1,000 bucks to lose. It’s not a game for somebody who’s out there looking for work right now, and might lose his house if unemployment insurance doesn’t come through. It’s not a game for the millions of Americans who will take a hit when the entire economy grows more slowly because these proposals aren’t extended.
That $1,000 a year works out to about $40 a paycheck that families won’t have to spend or save. Although opponents of the payroll tax cut might say $40 isn’t much, we know that’s not the case.
— Barack Obama
What Does $40 Mean to You?
It sure seems that $1000 – $2000 a year was really real money when Obama was President. Back then, it seemed to mean a whole lot to a lot of people in every state in our country. It’s just not real money now when it’s the GOP giving it back to the people, at least not in the minds of the Left and their politicians.