Barbra Streisand Just Said The Tax Reform Law Is A ‘Scam’ On ‘Blue States,’ Immediately Gets Flattened With The Truth

Actress and film maker Barbra Streisand is apparently no fan of the tax reform legislation President Trump signed into law at the end of last year.

She took to social media to share her thoughts that the “scam of a tax bill” negatively affects Hollywood and would grant the middle class “practically nothing.”

Streisand  tweeted, “I don’t think it’s a coincidence that blue states, athletes, actors, writers, producers, and directors will be punished by this scam of a tax bill, where billionaires get billions, and the middle class gets bupkis (practically nothing) – and an eventual tax increase.”

Per Fox News:

The actress, who is known as a frequent critic of the Trump administration, explained that the new tax plan is a trap that is deliberately meant to harm those who live in blue states, athletes, the middle class and Hollywood.

Streisand also called the members of the Trump administration “erratic and disruptive” in another tweet she shared on Thursday.

Here’s how some people responded to the actress’ tweet:

(Via Forbes, Estimated Net Worth: $390 million)

Needless to say, Streisand’s claim that “the middle class gets bupkis” is far from the truth.

Per Washington Examiner:

Some 40 U.S. companies have responded to President Trump’s tax cut and reform victory in Congress last year by handing out bonuses up to $2,000, increases in 401k matches and spending on charity, a much higher number than previously known.

Some highlights:

  • Aflac – increase 401(k) match from 50% to 100% on the first 4% of compensation plus one-time $500 contribution to every employee’s 401(k); $250 million increase in overall U.S. investment.
  • BB&T – $1,200 bonuses for 27,000 employees; base wage will rise from $12 to $15 per hour; $100 million in charitable donations.
  • Comcast — $1,000 bonuses to 100,000 employees; at least $50 billion investment in infrastructure in next five years.
  • Express Employment Professionals — $2,000 bonuses to more than 200 non-executive employees.
  • Gate City Bank — $1,000 hand-delivered bonus checks to 538 non-management personnel; $500,000 higher charitable giving; $500,000 worth of free home appraisals.
  • Navient – 98% of Navient’s 6,700 employees will receive a $1,000 bonus (approx. 6,566 bonus-eligible employees).
  • Regions Financial Corporation – base wage increase to $15 per hour; $40 million in charitable donations; $100 million in capital expenditures.
  • Southwest Airlines — $1,000 bonuses for all 55,000 employees; $5 million additional charitable donations.
  • U.S. Bancorp – $1,000 bonuses for 60,000 employees; base wage hike to $15 per hour; $150 million charitable contribution.

Per Fox Business:

White House National Economic Council Director Gary Cohn weighed in on corporate America’s response to the tax package telling FOX Business’ Stuart Varney on “Varney & Co.,” “Look at what’s happened since we announced tax reform.  In just two weeks we’ve had well over 100 companies announce year-end bonuses, 401(K) contributions or increased minimum wages for about a million workers in the United States.”

“So, a million workers in the last week of 2017 got a surprise just because of the tax reform package and that is something that we didn’t even expect to see.”

These bonuses are a result of the tax reform law, but the legislation itself offers cuts to most taxpayers.

The House Ways and Means Committee reports, “With this bill, the typical family of four earning the median family income of $73,000 will receive a tax cut of $2,059.”

The report adds:

Lowers individual taxes and sets the rates

at 0%, 10%, 12%, 22%, 24%, 32%, 35%, and 37% so people can keep more of their hard-earned money.

Significantly increases the standard deduction

to protect roughly double the amount of what you earn each year from taxes – from $6,500 and $13,000 under current law to $12,000 and $24,000 for individuals and married couples, respectively.

Continues to allow people to write off the cost of state and local taxes

– up to $10,000. Gives individuals and families the ability to deduct property and income taxes – or sales taxes – to best fit their unique circumstances.

Takes action to support more American families

Expanding the Child Tax Credit from $1,000 to $2,000 for single filers and married couples to help parents with the cost of raising children, and preserving the Child and Dependent Care Tax Credit and the Adoption Tax Credit.

And, per Town Hall:

The Democrats’ central attack against the GOP tax reform billis all too familiar:  It’s a giveaway to corporations and “the rich” that hurts the middle class.  They’ve falsely called the plan a tax increase on the middle class, and demagogued it as a “massive attack” on middle income taxpayers — not to mention the “end of the world.”

Throughout this debate, we’ve shared data-driven analyses from three separate nonpartisan organizations: The Joint Committee on Taxation (JCT), which is an official Congressional scorekeeper, the Tax Foundation (which leans to the right), and the Tax Policy Center or TPC, (which leans to the left).

In spite of the deceptive rhetoric flying around social media and the airwaves, all three outfits agreed that the GOP proposal would, on average, reduce the tax burdens of every income group in America.

Fox Business provides a useful calculator so that taxpayers can compute how much they would save on average – it can be viewed here.

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