Ahead of congressional votes on Republican tax legislation on Tuesday, the NBC and ABC morning shows both predicted political doom for the GOP with passage of the bill. The network broadcasts painted the plan as one that would benefit the wealthy and veer into “dangerous political territory.”
“But the Republican bill also has major political risks,” warned correspondent Kasie Hunt on NBC’s Today show. She particularly lamented: “It repeals the ObamaCare mandate, requiring people to buy health insurance, which the Congressional Budget Office projects could cause premiums to spike.”
Hunt eagerly touted how “Republicans could already be paying a political price, with a new poll showing nearly half of Americans disapprove of the tax plan.” That’s no surprise since the liberal media have spent months trashing the proposal.
She then turned to the bill’s left-wing opponents for comment:
UNIDENTIFIED MAN [PROTESTER]: Vote no on this bill.
HUNT: On Capitol Hill, last-minute protests outside congressional offices and from Democrats.
SEN. CHUCK SCHUMER [SENATE MINORITY LEADER, D-NY]: The bill, in short, is a cynical one-two gut punch to the middle class.
Following Hunt’s report, co-host Hoda Kotb teed up MSNBC anchor and business analyst Stephanie Ruhle to further blast the legislation: “Everyone says the big winner in this whole thing, you put corporations up on top.” Ruhle ranted:
Without a doubt. I mean, this is a bet on trickle-down economics. So the Republicans are betting if you give corporations a break, they will then hire more people, give them higher wages, build factories. But that’s a big bet. So by lowering corporations’ tax rates, they’re currently in the high 30s, and now down to 21%, that’s a huge break. You know who else is gonna benefit from that? Wall Street. Wall Street is getting a break because all along we heard, carried interest, which is another kind of hookup....I would just say, [who] really gets hooked up, and he doesn’t like to say it, is President Trump and his family. And that’s because they’re in the real estate business....it’s a big win for them.
After claiming only wealthy winners in the tax plan, co-host Savannah Guthrie pointed out: “Well, let’s talk about the losers. Because I mean, look, individuals are – every tax bracket is getting a tax cut. So you put individuals on your losers.” Ruhle tried to justify that assertion: “Well, they are. Listen, individuals are getting a cut, that’s a positive. But it’s a temporary cut....So individual cuts expire in 2025. So come 2026, we hope that gets renewed, but it might not.” So the possibility of tax cuts expiring in a decade makes taxpayers “losers”?
Kotb fretted: “A lot matters what state you live in. You could be making a certain income and live in one state and a certain income and live in another, and one gets hammered.” Ruhle turned to her fellow wealthy media personalities and declared: “And you two ladies are getting hammered, as is my mom in New Jersey. So high-tax states, high-income states, high earners like New York, New Jersey, California, you’re out of luck.” The bill does not eliminate such deductions, it simply places a $10,000 cap on them. Also, perhaps Democrats in those states should actually consider cutting taxes.
On ABC’s Good Morning America, correspondent Mary Bruce skeptically wondered: “Republicans poised for that first major victory, but will it be a win for the American people?” She added: “Republicans and the President insist this bill is aimed at the middle class, but a new analysis shows that the long-term benefits will actually go to the rich.”
Touting that “new analysis,” Bruce proclaimed: “After the first decade, the report finds the wealthiest Americans would receive a tax cut, while 70% of middle income Americans would see their taxes go up.” Like Ruhle, Bruce automatically assumed that the middle class tax cuts would not be extended by Congress.
After fill-in co-host Paula Faris asked “how confident” Republicans were that the bill would pass, Bruce bemoaned liberal efforts to stop the legislation being unsuccessful: “Well, Paula, there have been protesters up here on the Hill trying to convince Republicans not to do this, but to no avail.”
In a panel discussion following Bruce’s report, fellow correspondent Cecilia Vega assured co-host George Stephanopoulos that Republicans were entering “dangerous political territory here,” with “a lot of polls out there that show that a number of Americans, more than half of Americans, disagree with this plan....And two-thirds of them say that it will benefit the rich over the middle class.”
Again, all Democratic talking points that have been constantly parroted by the press for months.
Turning to Daily Beast editor-in-chief John Avlon, Stephanopoulos reveled in the poll numbers: “This is a tax cut. Yet it’s in some ways more unpopular than tax increases have been in the past.” Avlon agreed: “ It – look, that’s unusual, right? I mean, everyone loves a tax cut. Tax hikes are hard to get through. The math here is upside down.”
He observed: “The problem is this has been sold as a middle class tax bill and a simplification. It is a big political win for Republicans and the President, but it doesn’t deliver on those two promises.” Stephanopoulos chimed in: “And that’s what Democrats are hoping for come November in the midterm elections.”
As Republicans are on the verge of a major legislative victory, the supposed “journalists” at NBC and ABC were already trying to distort the congressional accomplishment as a defeat for the GOP that would help Democrats.
The Heritage Foundation provided a detailed analysis dispelling many of the media myths about the Republican tax plan.
Here are excerpts of the December 19 coverage on both networks:
Today
7:08 AM ET(...)
KASIE HUNT: What does the $1.5 trillion plan mean for your taxes? Most Americans will receive a tax cut, with lower individual rates for each income level and a doubled standard deduction. For families, a bigger child tax credit. The corporate rate slashed from 35 to 21%.
But the Republican bill also has major political risks. It repeals the ObamaCare mandate, requiring people to buy health insurance, which the Congressional Budget Office projects could cause premiums to spike. And the bill caps the amount of state, local, and property taxes you can deduct at $10,000. That could hit residents of high-tax states hard.
And Republicans could already be paying a political price, with a new poll showing nearly half of Americans disapprove of the tax plan.
UNIDENTIFIED MAN [PROTESTER]: Vote no on this bill.
HUNT: On Capitol Hill, last-minute protests outside congressional offices and from Democrats.
SEN. CHUCK SCHUMER [SENATE MINORITY LEADER, D-NY]: The bill, in short, is a cynical one-two gut punch to the middle class.
(...)
7:10 AM ET
HODA KOTB: Everyone says the big winner in this whole thing, you put corporations up on top.
STEPHANIE RUHLE: Without a doubt. I mean, this is a bet on trickle-down economics. So the Republicans are betting if you give corporations a break, they will then hire more people, give them higher wages, build factories. But that’s a big bet. So by lowering corporations’ tax rates, they’re currently in the high 30s, and now down to 21%, that’s a huge break. You know who else is gonna benefit from that? Wall Street. Wall Street is getting a break because all along we heard, carried interest, which is another kind of hookup. President Trump said all along the trail –
SAVANNA GUTHRIE: He’s gonna get rid of that loophole that pads the pockets of hedge fund managers.
RUHLE: Exactly, where they don’t have to pay the same capital gains tax that you do. Well, that is still going to be in there.
And then a third, I would say, tax preparers. This thing was supposed to simplify everything. Well, those tax preparers, those tax accountants, are still going to be working overtime because this isn’t tax reform, it’s a tax cut. If it was tax reform, you would be closing those loopholes and simplifying it. Without simplifying it, those loopholes still exist. And when they do, that will always benefit the rich. Because the rich guy in the company can afford to have someone scratch this, change that, and hook them up to pay less. So if you have to do your own taxes, it’s harder.
And then the third [sic], I would just say, really gets hooked up, and he doesn’t like to say it, is President Trump and his family. And that’s because they’re in the real estate business. If you’re in the commercial real estate business, you get to consider that pass-through business a partnership. And so, you pay only 29% in taxes. So it is somewhat disingenuous for the President to say, “This is a huge tax cut for the middle class, not gonna help me.” The business that he and his son-in-law, Jared Kushner, and 13 Republican senators are all in, which is real estate, it’s a big win for them.
GUTHRIE: Well, let’s talk about the losers. Because I mean, look, individuals are – every tax bracket is getting a tax cut. So you put individuals on your losers.
RUHLE: Well, they are. Listen, individuals are getting a cut, that’s a positive. But it’s a temporary cut. Because remember, if you’re gonna increase the deficit, which we are, by at least $1.5 trillion, you’ve got to pay for that somewhere. So individual cuts expire in 2025. So come 2026, we hope that gets renewed, but it might not.
HOTB: A lot matters what state you live in. You could be making a certain income and live in one state and a certain income and live in another, and one gets hammered.
RUHLE: And you two ladies are getting hammered, as is my mom in New Jersey. So high-tax states, high-income states, high earners like New York, New Jersey, California, you’re out of luck. Because your property tax, you cannot deduct it. Your state and local income tax is capped. That's a negative, but that’s meant to subsidize some of the lower-earning states.
GUTHRIE: Alright, Stephanie, it’s complicated. Glad to have you break it down, thank you.
RUHLE: You’ve got to hope trickle-down works. It’s a hope.
(...)
Good Morning America
7:08 AM ET(...)
MARY BRUCE: Republicans poised for that first major victory, but will it be a win for the American people? Republicans and the President insist this bill is aimed at the middle class, but a new analysis shows that the long-term benefits will actually go to the rich. After the first decade, the report finds the wealthiest Americans would receive a tax cut, while 70% of middle income Americans would see their taxes go up. And the President and his family could stand to benefit personally from tax cuts for the wealthy, down from more than 39 to 37%, and a provision of this bill that’s aimed at benefiting certain owners of businesses like commercial real estate firms.
PAULA FARIS: Okay, so, Mary, we’ve been hearing that the Republicans have the vote, even without Senator John McCain, who is recovering from cancer treatment. But how confident should they be right now?
BRUCE: Well, Paula, there have been protesters up here on the Hill trying to convince Republicans not to do this, but to no avail. Right now they do have the votes in the Senate. Right now there’s not a single Republican no vote. There are a handful of moderate Republicans in the House who oppose this, but that is not enough to block this bill. This tax bill appears to be headed for the President’s desk, Paula.
(...)
7:11 AM ET
GEORGE STEPHANOPOULOS: Cecilia Vega, let’s talk about taxes. No question this is the biggest legislative victory yet for the President. Good way for him to end the year.
CECILIA VEGA: Yeah, certainly, and they are poised for a big celebration when this actually happens. He’s actually tweeting about it this morning, George. Take a look, he just put this out on Twitter. He says the bill’s impact to the economy is not “totally understood and appreciated.” Quote, “Biggest tax cuts and reform ever passed. Enjoy, and create many beautiful JOBS!” Spoken like President Trump there. But fact checkers agree this isn’t actually the biggest tax cut ever passed.
He is poised for a big celebration, but this is dangerous political territory here. There are a lot of polls out there that show that a number of Americans, more than half of Americans, disagree with this plan, George. And two-thirds of them say that it will benefit the rich over the middle class.
STEPHANOPOULOS: Yeah, let’s bring that to John Avlon right there. This is a tax cut.
JOHN AVLON: Right.
STEPHANOPOULOS: Yet it’s in some ways more unpopular than tax increases have been in the past. Will that matter a year from now?
AVLON: It – look, that’s unusual, right? I mean, everyone loves a tax cut. Tax hikes are hard to get through. The math here is upside down. The problem is this has been sold as a middle class tax bill and a simplification. It is a big political win for Republicans and the President, but it doesn’t deliver on those two promises.
STEPHANOPOULOS: And that’s what Democrats are hoping for come November in the midterm elections.
(...)
