It’s a bad look when American workers are getting fat bonuses and raises in their paychecks and you’re the leading member of the party that tried desperately to keep that from happening. Which is why, on January 11, when asked by a reporter about all of those nice checks American workers were getting courtesy of the Republican tax reform bill, Minority Leader Nancy Pelosi was only too eager to downplay the situation.
“In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic,” she said. “It’s so pathetic. And I would hope that with their big advantage of bringing money home at a very low rate, that they would invest in infrastructure and things. But our experience has been that they will do dividends. They will do stock buy-backs and things like that. I think it’s insignificant.”
She went back to the well a couple of weeks later at a town hall meeting in Florida, where she compared the tax cuts to a mousetrap with some cheese on it. “And that’s the thing,” she said. “You get this little thing and we get this big bonanza. You get the crumb, we get the banquet.”
Well, isn’t that better than nothing at all? No one’s disputing the fact that corporate fat cats are going to get rich(er) because of the tax breaks. But if they’re going to pass some of that on to the workers, can you really be a grinch about it? Would you rather all of that money go to some overseas factory? Would you rather it all go to the federal government? Oh wait, we forgot who we were talking about for a second.
In any event, Republican lawmaker Todd Rokita of Indiana has come up with the perfect legislative response to Pelosi’s remarks. It’s called the CRUMBS Act – “Creating Relied and Useful Middle-Class Benefits and Savings.” Okay, he had to stretch a bit to get the bill to fit the acronym, but the bill is actually a really interesting thing. It would make most bonuses given out as a result of the tax cuts tax-free, putting even more money in the hands of American workers. This would be a tax break on top of a bonus on top of a tax break. Now we’re talking!
“Americans are receiving thousands of dollars in bonuses and more money in their paychecks thanks to President Trump’s tax reform, but out-of-touch Democratic leaders believe they only amount to crumbs,” Rokita said. “The CRUMBS Act will let Americans keep more of the money they receive as a result of President Trump’s tax reform, and allow them, not the government, to choose how best to spend their bonuses.”
Hopefully Rokita’s bill gets some serious consideration because we like the sound of that. It fits in perfectly with the Republican agenda, sticks it to the Democrats, and is sure to boost the economy that much more.
And hey, if the rich get a little richer in the process, we’re perfectly okay with that.