House Minority Leader Nancy Pelosi’s comments related to tax savings have changed dramatically over the past seven years: She previously lavished praise on former President Barack Obama’s $40 payroll tax cut, but now dismisses the $1,000 bonuses doled out by corporate America as a result of the recently signed GOP tax overhaul.
The wealthy California lawmaker called legislation extending a $40 payroll tax cut in 2011 a “victory for all Americans” and attributed the accomplishment to “Obama’s leadership.”
“160 million Americans will continue to receive their payroll tax cut — nearly $40 per paycheck in the pockets of the average family. I salute the work of the unified House Democratic caucus on behalf of the American people,” Pelosi said of the tax cut in a 2011 statement.
These comments stand in stark contrast to Pelosi’s dismissal of Walmart’s $1,000 bonuses announced Thursday, that were facilitated by the company’s tax savings. When asked about evidence of the tax bill’s immediate positive impact, Pelosi called the seniority based bonuses of up to $1,000 “crumbs.”
“A number of bonuses — one of the bonuses was in a union contract and then they added a little more money to that,” Pelosi said Thursday in response to a question from The Daily Caller’s Kerry Picket. “That same firm just told the employees they were going to be laying off 1,500 people and if they wanted to save their jobs, they could work 32 hours. In terms of the bonus that corporate America receives versus the crumbs they are giving to workers to put the schmooze on is so pathetic.”
“And I would hope with their big advantage of bringing home at a very low rate that they would invest in infrastructure but our experience has been they will seek dividends and buy-backs,” Pelosi added. “It is insignificant.”
More than two million American workers have received bonuses — some ranging as high as $3,000 — thanks to the Republican tax bill, according to a list from Americans for Tax Reform.
Pelosi is not alone in belittling Americans’ new found tax savings. Prominent Democrats have returned to a common refrain as the effects of the sweeping tax reform begin to take shape, casting wage increases, expanded bonuses and benefits as meaningless handouts from corporations.
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