By Jon Dougherty
Only a Leftist could hate the idea of citizens paying fewer taxes, which is why the tax reform law POTUS Donald Trump and Republicans passed in December 2017 as one of the president’s earliest signature accomplishments is routinely bashed and misrepresented in the “mainstream” media — which is replete with Leftists.
A story on Sunday byÂ CBS News is typical. Under the headline, “Tax refunds so far this year are down by $6 billion from 2018” leaves readers with the specific implication that the Trump tax cuts were fraudulent and not the money saver they were said to be.
The network noted:
Individual tax refunds this year have been only slightly smaller than last year, but those shortfalls are adding up. At the end of last month, the amount of money the government refunded was $6 billion below this time last year, according toÂ IRS figures.
As of March 29, the Treasury had issued 71.8 million refunds. This time a year ago it had issued 73.4 million. So while the average refund, at $2,873, is only $20 less than it was last year, about 1.6 million fewer people are getting refunds, the IRS said.
Then came the tie-in with the ‘negative impact’ on the economy as a whole, or so we are led to believe:
That shrinking pot of money is showing up in surprising ways, including throughÂ. Many families use refunds as a forced saving mechanism, as their IRS refund is often [the] largest single check they receive all year. In the weeks after receiving a refund, families tend to splurge on large purchases such as furniture or appliances; credit-card payments and travel, a JPMorgan Chase study found.
But then, buried several paragraphs into the story wasÂ this revelation:
Lower refunds don’t mean Americans paid more taxesâ€”quite the opposite. Most workers paid less in taxes last year and saw higher take-home pay week in and week out. But for many Americans, a slightly higher paycheck doesn’t quite have the same visibility as a single $3,000 check in March or April.
The Trump administration and Republicans promised that most Americans would pay less in taxes — not receive bigger refunds — and that is precisely what’s happening.
“I think people are busy, maybe they get direct deposit, they’re not paying attention and they feel like they have so much in taxes coming out anyway … they don’t necessarily notice a difference in the net pay. Especially if it’s spread out over 26 pay periods,” Steven Zelin, a CPA based in New York, told CBS News.
No wonder Americans’ faith and trust in the mainstream media continues to wane.
- Follow Jon Dougherty on Twitter at @JonDougherty10