Latest / The 47 Morning Update with Ben Ferguson / Democrats Promised Higher Taxes, Trump & Republicans give a Tax Week WIN

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Democrats Promised Higher Taxes, Trump & Republicans give a Tax Week WIN · The 47 Morning Update with Ben Ferguson

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  Speaker 1: We can never forget that every single radical left Democrat
• 0:03
  Speaker 1: in Congress voted Tony the American people these life saving changes.
• 0:07
  Speaker 1: They voted for tax increases. They wanted your taxes to
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  Speaker 1: go up. But I've never seen it before. I'd always
• 0:13
  Speaker 1: was I'd watched politicians for thirty years, forty years. We
• 0:16
  Speaker 1: will lower your taxes, we will lower your taxes. These
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  Speaker 1: are the only people. The Democrats now, the modern day Democrats,
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  Speaker 1: we will raise your taxes. And I just don't think
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  Speaker 1: it's witable. I don't know, maybe I'm.
• 0:27
  Speaker 2: Have a little low vession that you're listening to the
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  Speaker 2: forty seven Morning Update with Ben ferguson.
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  Speaker 1: Good Friday morning. Nice to have you with us on
• 0:34
  Speaker 1: the forty seven Morning Update. It is tax week and
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  Speaker 1: we've got the data. Yeah, you may not want to
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  Speaker 1: celebrate paying taxes in general, but you should be celebrating
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  Speaker 1: the massive tax cuts, meaning more Americans are keeping money
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  Speaker 1: in their pocket this year, with the record refunds, all
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  Speaker 1: of this because the presence leadership. I'll break down the
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  Speaker 1: data for you, but first let me tell you about
• 0:58
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  Speaker 1: Patriot Mobile dot com slash ferguson or nine to seven
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  Speaker 1: com slash Ferguson or nine seven to two Patriots. It's
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  Speaker 1: the forty seven Morning Update, and it starts right now.
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  Speaker 2: Story number one.
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  Speaker 1: Tax Day has come and gone. But what you may
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  Speaker 1: not realize is just how many Americans saved massive amounts
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  Speaker 1: of money because of Donald Trump winning reelection and his leadership. Now,
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  Speaker 1: due to President Trump in the passage of the Working
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  Speaker 1: Family's tax cuts, Americans will see the largest refunds in
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  Speaker 1: history this tax week. The legislation made permanent and reduced
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  Speaker 1: income tax rates that were implemented under the Tax Cuts
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  Speaker 1: and Jobs Act. It also restored and strengthened business tax
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  Speaker 1: cuts as well, and increase refunds through added benefits on
• 3:10
  Speaker 1: top of the already low rates. This is something that
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  Speaker 1: Democrats wanted to see expire, and they did not want
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  Speaker 1: to enhance things like no tax on tips and no
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  Speaker 1: tax on overtime and no tax on Social Security benefits
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  Speaker 1: for example. Now these new and enhanced provisions include no
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  Speaker 1: taxes I mentioned on tips, no tax on overtime, no
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  Speaker 1: tax on social security, no tax on car loans. That
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  Speaker 1: is another big one that's having a huge impact for
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  Speaker 1: working families. Having no tax on those car loans can
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  Speaker 1: be thousands of dollars per family depending on how many
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  Speaker 1: drivers you have. And we also know that we had
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  Speaker 1: the enhanced child tax credit as well and increased in
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  Speaker 1: the standard deduction. Countless Americans are taking these deductions, resulting
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  Speaker 1: in one hundred, if not thousands of dollars per year
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  Speaker 1: in extra tax savings per family. Now here's what we know. Initially,
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  Speaker 1: over fifty three million filers, nearly forty five percent claimed
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  Speaker 1: at least one of President Trump's signature new tax cuts.
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  Speaker 1: The average refund this filing season is now over thirty
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  Speaker 1: four hundred dollars. That is a massive increase of eleven
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  Speaker 1: percent compared to the last filing season, Meaning for the
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  Speaker 1: average American, you have real money back in your pocket.
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  Speaker 1: Because Donald Trump was reelected and the policies he's implemented.
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  Speaker 1: The average tax cut for filers benefiting from one of
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  Speaker 1: President Trump's signature tax cuts is now over eight hundred dollars. Again,
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  Speaker 1: money in your pocket. Here's something else. It's very interesting.
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  Speaker 1: Over six million filers have claimed no tax on tips
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  Speaker 1: and an average deduction of over seven thousand than one
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  Speaker 1: hundred dollars. So if you're a family, that's seventy one
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  Speaker 1: hundred dollars more in your pocket if you were one
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  Speaker 1: of those working on mostly tips. Over twenty five million
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  Speaker 1: filers have claimed no tax on overtime, with an average
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  Speaker 1: reduction per family of over thirty one hundred dollars. That's
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  Speaker 1: real money in hard working americans pockets. Over thirty million
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  Speaker 1: and this may be the biggest one of all. Seniors
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  Speaker 1: have claimed the enhanced deduction for seniors, with an average
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  Speaker 1: reduction savings of over seven thousand, five hundred dollars if
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  Speaker 1: you are a senior on a fixed income. This is
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  Speaker 1: literally a lifeline for more than thirty million seniors, and
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  Speaker 1: an average reduction over seven five hundred dollars is truly incredible.
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  Speaker 1: Over one million filers have also claimed no tax on
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  Speaker 1: car loan interest, and they expect that number to go up,
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  Speaker 1: with an average deduction of over eighteen hundred dollars. Now,
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  Speaker 1: let's just talk about that eighteen hundred dollars real quick.
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  Speaker 1: Imagine if you're a family of four, that's almost eight
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  Speaker 1: thousand dollars and benefits to you. And what are many
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  Speaker 1: Americans doing with that money? Filling up their gas tanks,
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  Speaker 1: buying new tires, and basic maintenance on their vehicles. Over
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  Speaker 1: five million Trump accounts have also been opened for children.
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  Speaker 1: One point two million were eligible for the one thousand
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  Speaker 1: dollars pilot program contribution. That is going to be compounding interest.
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  Speaker 1: And hopefully there'll be parents that add even more money
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  Speaker 1: or businesses that I have even more money to those
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  Speaker 1: Trump accounts. And what does that mean for children? It
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  Speaker 1: means they're getting a real nest egg to start their
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  Speaker 1: future decades down the road. Over thirty four million families
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  Speaker 1: have also claimed the Enhanced Child Tax Credit, which is
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  Speaker 1: permanently doubled and expanded by the Working Families tax cuts
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  Speaker 1: the President Trump led. More than one hundred and five
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  Speaker 1: million filers have claimed the permanent double Standard Deduction, simplifying
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  Speaker 1: tax filings for millions of Americans, and per the CEA analysis,
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  Speaker 1: households received an average tax cut of almost eleven one
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  Speaker 1: hundred dollars relative to if the TCJA were not to expire,
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  Speaker 1: And that's about twenty four hundred dollars relative to if
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  Speaker 1: it were to have expired, meaning another massive savings for Americans. Now.
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  Speaker 1: The lower individual rates as well as the reduced rates
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  Speaker 1: on businesses are also bringing strong investment and enticing workers
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  Speaker 1: to come off the sidelines and into the labor force
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  Speaker 1: as well. As a result of these policies, prime age
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  Speaker 1: males and females in the labor force participation have reached
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  Speaker 1: and this is historic, their highest level in decades. Female
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  Speaker 1: prime age labor force participation reached its highest level ever
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  Speaker 1: in March. Thanks to President Donald Trump's policies, the American
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  Speaker 1: economy is experiencing higher employment and faster GDP growth, setting
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  Speaker 1: the nation on a path to physcal balance and prosperity.
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  Speaker 1: The CEA found in its reports on the tax reforms
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  Speaker 1: last summer that relative to the TCJA expiration at the
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  Speaker 1: end of twenty twenty five, implementation of the bill would
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  Speaker 1: number one, raise the level of GDP by almost five
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  Speaker 1: percent over the next coming four years. That is also incredible. Now,
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  Speaker 1: if you look at what the president has done, not
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  Speaker 1: only is he allowed for job growth. And I'll give
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  Speaker 1: you an example. Factory construction is soared under President Donald Trump,
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  Speaker 1: gains an employment non essential specialty trade construction. Let me
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  Speaker 1: just tell you where they were in the first quarter
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  Speaker 1: of twenty twenty five five at nine thy three hundred.
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  Speaker 1: Where were they in the first quarter of twenty twenty six?
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  Speaker 1: Because of President Trump's leadership and the tax benefits that
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  Speaker 1: number skyrocketed to fifty four thousand, two hundred. The President
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  Speaker 1: putting America first. And here's something else that you might
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  Speaker 1: want to look into as well and celebrate. Non supervisory
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  Speaker 1: construction workers wages rose sharply as well. In twenty twenty five,
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  Speaker 1: the prod and non supervisoral construction jobs well, they were
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  Speaker 1: up two point six percent, and construction was up as
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  Speaker 1: well in general one point three percent. These are incredible
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  Speaker 1: numbers for the President of the United States of America.
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  Speaker 1: All of this is because of the President's leadership. With
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  Speaker 1: the passage of the Working Family's tax cuts, Americans are
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  Speaker 1: now going to see the largest refunds in history this
• 9:56
  Speaker 1: tax week. The legislation making it permanent to read use
• 10:00
  Speaker 1: income tax rates implemented under the Tax Cuts and Jobs Act,
• 10:04
  Speaker 1: restored and strengthen business taxes as well, and tax cuts
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  Speaker 1: that are allowing for businesses to expand as well as
• 10:12
  Speaker 1: increase refunds through added benefits, on top of the already
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  Speaker 1: low rates for small businesses as well. All of these
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  Speaker 1: new enhanced provisions include the no tax on tips, which
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  Speaker 1: American workers are really getting to celebrate. No tax on
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  Speaker 1: overtime and no taxes on Social Security as well as
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  Speaker 1: the no tax on car loans, and on top of that,
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  Speaker 1: the enhanced child tax credit. All of this comes together
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  Speaker 1: with the increase in the center deduction and countless Americans
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  Speaker 1: are taking these deductions, resulting in hundreds, if not thousands
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  Speaker 1: of dollars per year and extra tax savings for hard
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  Speaker 1: working Americans. So this, yes, may be a frustrating week
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  Speaker 1: in general, a lot of people paying a lot of taxes,
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  Speaker 1: but if you look at the data up you should
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  Speaker 1: be beyond thrilled right now and what the President has
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  Speaker 1: done compared to what you would have paid if Democrats
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  Speaker 1: were in office. So let's just imagine the alternative and
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  Speaker 1: what that reality would have looked like if Kamwa Harris
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  Speaker 1: had won. She made it clear that she was going
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  Speaker 1: to roll back portions of the tax cuts and increase
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  Speaker 1: rates on higher earners. Remember this was all about going
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  Speaker 1: after hard working Americans. The ripple effects could have pushed
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  Speaker 1: taxes higher across the board. Historically, when tax rates go
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  Speaker 1: up at the top, it often impacts small businesses and
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  Speaker 1: job creators, and ultimately workers who lose their jobs or
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  Speaker 1: have their hours cut. The tax season. When you look
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  Speaker 1: at what you just did, well, imagine how different it
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  Speaker 1: would have looked for many Americans that were desperate for relief.
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  Speaker 1: We know the cost of living has also gone up,
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  Speaker 1: and if Democrats would have been in office right now
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  Speaker 1: in the White House, they made it clear this tax
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  Speaker 1: season would have been a historically high tax rate for
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  Speaker 1: virtually every very American that made over one hundred thousand
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  Speaker 1: dollars a year. And if you think that the Democrats
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  Speaker 1: were going to give you no tax on tips and
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  Speaker 1: no tax on overtime, you're also wrong. They also weren't
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  Speaker 1: going to give you the tax break on the interest
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  Speaker 1: on car loans, and they were not going to expand
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  Speaker 1: that deduction the basic standard deduction, as the Republicans did.
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  Speaker 1: So I will say one thing real quick. There's never
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  Speaker 1: a fun time in general to pay taxes. But when
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  Speaker 1: you're paying a hell of a lot less than you
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  Speaker 1: would have if the other guys had won, it is
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  Speaker 1: worth celebrating and realizing just how significant the savings are
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  Speaker 1: for countless Americans. And when I say countless, I literally
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  Speaker 1: mean millions of Americans that saw some of the biggest
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  Speaker 1: refunds in their lifetime.
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  Speaker 2: Thank you for listening to the forty seven Morning Update
• 12:49
  Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever
• 12:53
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• 12:56
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• 13:00
  Speaker 2: Asked and We will see you back here tomorrow