The Democrat Party claims to be for the working man, yet when it came time to vote on the One Big Beautiful Bill (OBBB) which cut taxes for the working man, the Democrats in Congress voted against it. Just for the record, the passage of that bill raised federal revenue 3 percent last year. As I have previously reported, “According to the latest “Monthly Treasury Statement,” revenues in FY 2026 came in at just over $5.4 trillion while spending was just under $7.4 trillion, leaving a deficit of $1.992 trillion.” But the Democrats are still complaining that the tax cuts increase the deficit–no, the excess spending grows faster than the increased revenue from the tax cuts.
On Saturday, The Daily Signal posted an article about a tax cut Senator Adam Schiff is actually supporting.
The article reports:
A family in Ohio has worked hard and sacrificed for three generations to keep their small-town grocery store in business, serving a community they live in and love.
A billionaire in California who invests some of his money in the movie industry lives in a beachside mansion in Malibu.
For which of these two entrepreneurs would Sen. Adam Schiff, D-Calif., support a tax cut?
It would be the moviemaker.
When the Tax Cuts and Jobs Act came up in Congress in 2017, The Heritage Foundation published a report summarizing what it would do. “The 2017 Tax Cuts and Jobs Act is the most sweeping update to the U.S. tax code in more than 30 years,” said Heritage’s analysis. “The recently released bill would lower taxes on businesses and individuals and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy.”
“The framework lowers rates for almost every tax bracket,” said the analysis. “The current seven brackets remain, but with new generally higher income thresholds and lower rates.”
Schiff, who then served in the House of Representatives, was outraged by the proposal.
He argued that he was standing up for the little guy and against increasing the federal debt.
“I just voted NO on the Republican tax plan,” Schiff said in a 2017 Facebook post.
The article concludes:
“A study published just this week found that the share of production spending by U.S. studios on movies that are made primarily or partially in the U.S. declined from 74% to 24% over the last quarter century,” said Schiff. “That is a staggering loss in the industry, but this tax credit, which is a base credit of 20%, with additional 5% credits going up to 30% of a tax credit, is layered upon whatever the state of California or other states do. That is powerful enough for the first time to really bring not just TV production back, but film production back, and all the multiplier impacts that has on the economy.”
“We’ve got to get this done,” said Schiff.
So, the opponent of the Trump tax cuts that reduced the tax burden on small family-owned business all across the country now believes that tax cuts—at least for the movie and television industries in Hollywood—can help this nation’s economy.
Did someone offer him a starring role?