Stephen Moore, a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks, says instead of calling them “Democrats” we should consider a new term: hypocrats.
In an article for Fox Business, Moore says that Democrats have continually attacked President Trump over the payroll tax cuts, which will help boost the take-home pay of 140 million Americans at a time when any way to boost income is vital.
At the Democratic National Convention, presidential nominee Joe Biden claimed the payroll tax cut would endanger the Social Security program.
House Speaker Nancy Pelosi called it a “tax cut for major corporations” and Senate Minority Leader Chuck Schumer said the idea was “unworkable.”
Yet during former President Obama’s first term, when the economy was in full meltdown during The Great Recession, Moore says the same cast of characters were completely in support of a payroll tax cut.
When the payroll tax cut was proposed by Obama, Pelosi said it was “a victory for all Americans, for the security of our middle class, for the health of our seniors, and for economic growth and job creation.”
Apparently, back when he was vice president, Joe Biden had no concern about a payroll tax cut jeopardizing Social Security. In 2011 he said the cut presented “no threat to Social Security.”
Nancy Pelosi brushed off the concern, saying “No, I don't worry about (Social Security solvency). I think the trust fund can handle that.”
Hypocrisy of the Hypocrats
Their hypocrisy is crystal clear: when it’s a Democrat in the White House, payroll tax cuts are great for America. When it’s a Republican in the White House, not so much.
But Moore says it gets even worse. He says President Trump’s payroll tax cut would give 140 million low- and middle-income Americans an estimated $1,000 tax cut through the end of the year. Those who make less than $100,000 per year get 100% of the benefits.
The Democrat’s alternative would reinstate the deduction of state and local taxes from federal income taxes.
Guess who benefits most from this? You guessed it, the top 1%.
Moore says it would help the mega-rich Democratic donors like Bill Gates, George Soros and Michael Bloomberg.
Even The Tax Policy Center, a decidedly liberal group, found that more than 50% of the benefits of Pelosi's $600 billion tax scheme would go to the richest 1%. The average American worker would likely see a benefit of $10.
The hypocrats continually claim that Trump’s tax cuts only benefit the wealthy. So it’s confusing why Pelosi would support what amounts to a tax cut on the wealthy.
Moore says it is “pure parochial, special-interest pleading.”
The biggest winners, Moore says, are tax filers in New York, New Jersey, Connecticut, California, Maryland, Oregon and Massachusetts. All of which are blue states.
“Remember this the next time a liberal says Republicans only care about the rich,” says Moore.
- U.S. Employment Costs Surge
- UAW Strike to End Following Tentative Deal with General Motors
- Prices for Goods and Services Increase Beyond Expectations
- GDP Soars 4.7% Thanks to Rise in Consumer Spending
- New Home Sales in the U.S. Rise Amid Skyrocketing Interest Rates
- Reports: X/Twitter Shrinking Worsens Following Rebranding
- Reports: Amazon Testing Humanoid Robots for Warehouse Operations
- Elon Musk’s X/Twitter Announces Subscription Tiers