RUSH: As you may know, the Drive-By Media has, since the day Trump tax cuts were passed, been reporting story after story after story, and the stories of course have been on CNN and MSNBC, the Washington Post, New York Times everywhere, that the Trump tax cut was not a tax cut. That Trump’s tax cut is costing you money, that nobody’s gonna get a refund, that nobody’s refunds are gonna be any bigger, the refunds are gonna be smaller, and it’s all been lies, folks, it has all been fake news!
People are getting refunds this year that they weren’t expecting. The child tax credit exemption has been doubled 2,000 to 1,000. There are people getting tax refunds they had no idea they were gonna be getting until this tax cut kicked in. But there’s the media lying through their teeth trying to condition people that the tax cut was only for the uber-wealthy and in fact you were gonna end up paying more.
So now we have in the New York Times a story from yesterday, headline: “Face It: You (Probably) Got a Tax Cut — Studies consistently find that the 2017 law cut taxes for most Americans. Most of them don’t buy it.”
Now, what could cause most of them to not buy it? It would be people like you, New York Times. This is the power of fake news to propagandize. Let me give a couple pull quotes. “Ever since President Trump signed the Republican-sponsored tax bill in December 2017, independent analyses have consistently found that a large majority of Americans would owe less because of the law. Preliminary data based on tax filings has shown the same.
“Yet as the first tax filing season under the new law wraps up on Monday, taxpayers are skeptical. A survey conducted in early April for The New York Times by the online research platform SurveyMonkey found that just 40 percent of Americans believed they had received a tax cut under the law. Just 20 percent were certain they had done so. That’s consistent with previous polls finding that most Americans felt they hadn’t gotten a tax cut, and that a large minority thought their taxes had risen.”
Well, this is only because this is how the media has been reporting fake news. And I am not exaggerating. The media has been lying to people about the Trump tax cuts. They have been telling people their taxes were going up or that they would not be getting a refund or that their taxes were not cut. It has been a staple, it has been an attack because these people know something.
They know how important the economy is as a factor in elections. They know it so they have been trying to tell people the economy isn’t as good as it is and it’s gonna get worse while it’s gonna get better. And they’ve been lying to people about the tax cut. They can’t afford for people to think tax cuts are good! Because liberalism is gonna raise taxes like you’ve never seen! They want you conditioned to think that’s the only time you should be happy is when your taxes are going up. That when Republicans announce tax cuts or even pass them, you end up paying more. It’s a giant scam, the media says.
But they had to run the story “Face It: You (Probably) Got a Tax Cut” because now refunds are starting to arrive. And people who thought that they weren’t getting a tax cut because they’d read it in the media or people who thought that their taxes were going up because they read it in the media are getting refunds larger than they thought they were gonna get. And so they’ve got no choice here, but face it, you probably got a tax cut, even if you don’t buy it. Journalistic malpractice 101.
RUSH: Midland, Texas. Reed, hi. Great to have you on the EIB Network. Hello.
CALLER: Hi sir, from Midland, Texas. I just wanted to share a note I got from my CPA today that showed an overpayment of $18,929 from last year, so that’s what the overhaul all of the —
RUSH: Wait a minute —
CALLER: — tax system —
RUSH: Meaning you’re getting a refund of 18K?
CALLER: I overpaid $18,000 from my quarterly taxes last year.
RUSH: Oh. So you’re gonna get some refund. Not that much, but you’re gonna get a portion of it back?
CALLER: Yeah, but the overpayment is the — yeah, it’s the return —
RUSH: Are you gonna take the refund, are you gonna apply that to next year’s payment or next year’s quarterly estimated payment?
CALLER: Well, see, I still owe 16 grand from the year before, from the previous administration’s taxes.
RUSH: Oh, so you’re facing basically a wash here because of the Trump tax reform.
RUSH: You’re having what you owed essentially zeroed out?
CALLER: Yes, sir. And it’s huge for my small business. I think I’m gonna be able to hire a full-time employee finally.
RUSH: Take the load off of you a little bit?
CALLER: Yes, sir, definitely.
RUSH: Well, a lot of people I am told are discovering this. But folks, I have to repeat this. Ever since tax reform was passed in late 2017 the media has gone to great lengths with fake news to tell everybody that the Trump tax cut was phony, that you aren’t gonna see any indication your taxes have been cut. In fact, you may see that you’re paying more. And that was a reference to people in the blue states who don’t get to deduct more than $10,000 of their federal taxes on the state and local return.
But there’s no way that a tax cut of this size can be hidden once it’s time to actually file, and now people’s refunds — I know a Millennial couple who waited ’til the last minute to prepare, they believed, they bought it, they believed they weren’t gonna get any kind of a benefit at all, that it might even be that they were paying more. Their refund’s $3,800 bucks, they have twins, and because the child exemption or whatever it is has been doubled from a thousand to $2,000, they’re getting a huge refund, it’s a total shock, they had no idea.
And they believed the media, they believed Apple News or whatever it is they read, whatever they watch, whatever they stream. And this is happening to people all over the country. I appreciate the call out there, Reed.