Poor Karl, His Tax Savings Could Be Erased

Of course Karl Rove is down with Trump’s tax cuts.

“President Trump is justifiably proud of passing tax reform last December, telling audiences ‘because of our tax cuts, you can keep more of your hard-earned money.’ He’s right: American taxpayers will save $75 billion this year and $189 billion next year, according to the Joint Committee on Taxation.”

To which any thinking person should ask, “WHICH American taxpayers will save those estimated billions?” Rove leaves out that the savings are skewed to the New Aristocracy of which he is a charter member.

Proving he’s the exact kind of Establishment Republican the Trumpeters despise almost as much as Democrats, he notes that, given the evolving Trade War, Trump’s tax cuts will be cancelled out by higher prices on imports coupled with some job losses.

“Yet the president’s tariffs on imports could negate much of the tax relief he’s been bragging about. These levies are not paid by foreign countries or companies. They are passed on to American consumers in the form of higher prices for either foreign or U.S.-made goods.

The Trump tariffs are now clawing back tax savings at a rate of roughly $10.6 billion per year. The levies already in place include 25% on steel (imports in 2017 were an estimated $23.4 billion), 30% on solar panels ($8.5 billion), 10% on aluminum ($18 billion) and 20% on washing machines ($1.8 billion). That’s chump change compared with what may be coming.”

The harsher the left’s criticism of all things Trump, the more inclined Trumpeters are to blindly follow him. Eventually, inflation and increased outsourcing of manufacturing jobs will test their knee-jerk, self-sabotaging love. Right?

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