NowThis, a news organization that reaches millions of young people each month, misled its viewers in its video, “Disney Heiress Abigail Disney Says The Wealthy Don’t Need Another Tax Break,” a monologue by Abigail Disney of the Disney family fortune, who decried the Republican tax reform package passed last year and signed into law by President Trump.
“This Disney heiress wants to make sure the GOP doesn’t give 1%ers like her another big tax break they don’t need,” the article states.
“It’s the darndest thing isn’t it?” Disney states in the video. “I got a tax break, but you didn’t. Hmm… I’m sure that was an oversight. Lots of rich folks couldn’t figure out what to do with their tax cuts because they’d have already gotten so many and this one was so big. Lots of 1%ers bought superyachts. In fact, superyachtinvestor.com says sales of superyachts are going up, up, up!”
Disney also complains about the corporate buybacks following the tax reform package, but she failed to mention that many of those buybacks benefited the pensions and retirement plans held by millions of everyday Americans. Disney also decries the rise in inflation–something that President Trump has raised concerns about as well, due to the rise in interest rates by the Federal Reserve.
“So anyway, 1%ers are doing better than they have ever been doing and guess what?” Disney said. “You are paying for all of it. Remember when Republicans promised that if you gave 1%ers a tax cut, employers would increase your salary, and hire more people, and the economy would be a boom, and there’d be rainbows and ponies and everything would be awesome? In fact, Republicans have made that promise a bunch of times and I’m beginning to wonder when we’re gonna stop falling for that one. It’s true that the economy is booming, it’s just not booming for you. Republicans promised a $4,000 a year increase in your average pay, but only 4% of you guys got anything close to that.”
NowThis failed to provide any counter voice to mention that wealth that is created through voluntary exchange was never a non-earner’s to begin with — it was money that was earned by business owners, employees, investors and business leaders because of free enterprise
NowThis also failed to provide any analysis showing that with policies enacted under Republican leadership, including tax and regulatory relief, Americans, including women and minorities, are seeing their incomes rise. According to the Bureau of Labor Statistics, annualized, median weekly take-home pay was just $43,368 at Q3 in 2016, compared to $46,436 at Q3 in 2016. This is an increase of $3,068, which is a substantial increase of 7 percent.