TRANSCRIPTThe Myth of Robin HoodLeft wing socialists often channel their inner Robin Hood as they demonize the rich and claim to be fighting for equality using their many arrows of self-righteousness. But are many people so caught up in the promise of utopia they miss the glaring holes in the left’s metaphor? Comin’ Up.The story of Robin Hood is a timeless classic. Whether you’re partial to the Disney version, the Kevin Costner version of the countless others on stage and screen, the premise is the same. Noble woodsman risks his life to defend those in need from a greedy tyrant. We are programmed to root for Robin Hood in this story; I mean who roots for the sheriff of Nottingham? Am I right? That’s because the disparity between good and evil in this story is pretty huge. Sure, Robin Hood is himself a thief and he does benefit modestly from stealing from the crown. But his misdeeds are excused because he has a nobler purpose; he shares his stolen bounty with the very poor. In the story, it’s their money, confiscated from these helpless subjects by a mean sheriff at the behest of a greedy prince. The key element here is that it’s their money – their money – and it was stolen from them.That is the sin that outweighs Robin Hood’s thievery because, after all, there has to be more moral virtue in stealing from another thief than there is from stealing from townspeople and peasants.What Robin Hood does is clearly a lesser evil and, more importantly, while his actions might be technically illegal, that is outweighed by the fact that he is morally superior with his deeds. If you take these points and you connect them together, you get the fundamental argument of folks like Alexandria Ocasio Cortez, Bernie Sanders and the rest of the radical left wing. And like patrons gazing in the theater, their supporters follow this same moral framework and thus believe that the outcome is justified and righteous. They are sadly mistaken and many are naïve pawns in a sinister game where the prize is both wealth and to a much larger extent, power. In the political version of this fairy tale, the greedy prince represents the evil one percent. This dark, ominous cabal of individuals who sit together in dark rooms, fanning themselves with fists full of hundred dollar bills , sipping aged whiskey while contemplating ways to make the poor even poorer. The sheriff is played by republicans, slaves to this evil one percent and responsible for implementing the evil poverty schemes that these greedy one percenters dream up to fund their appetite for extreme wealth. Robin Hood, well that part is played by folks like AOC, Sanders and even people like Elizabeth Warren and anyone else that claims to be fighting against income inequality. The rest of you are portrayed by the townspeople, the tired peasants of Sherwood Forrest, struggling to put food on the table, buy the newest iPhone or upgrade to an even bigger flat screen TV. Those are the folks who need a hero, they need a savior, and they need – Robin Hood. Sure, vigilantism is unethical, but hey, it’s not so bad when the vigilante is on your side. So let’s look at one of the biggest claims these modern day Robin Hoods are making – the Trump tax cuts or the Trump Tax cuts for the wealthy as they like to call them. The left is especially creative and enjoys making up words when it helps them make their point, accuracy is a distant afterthought.So we’re told that these tax cuts benefit the wealthy elite and in some ways are actually at the expense of the poor.The trump tax cuts are, in essence, analogous to the Sheriff of Nottingham doing door to door, shaking down citizens for their last few nickels. The tax cuts represent the pilfering of the poor and working class for the sole benefit of the rich… that’s their ploy and many of you actually buy it. I mean, in your defense, it sounds convincing enough. People in the poor and middle class are living beyond their means, they were doing so for many years now and this is certainly not a new trend, but under this president we are told that, if the tax cuts were what he said they were, most of folks from the middle and on down would be a lot better off. After all, isn’t it the government’s job to ensure financial stability for everyone, regardless of their life choices?Okay, well let’s just say for a minute that it is. How do we accomplish this? Well, for starters, let’s take a look at the numbers. The Trump tax plan, like its predecessor, has seven brackets. The brackets vary slightly whether you are comparing total income of an individual or those filing jointly. For the purpose of this explanation, I will use the “married, filing jointly” numbers as they are easier to visualize, in my opinion. The first bracket, bracket number one, is for households earning between zero and $19, 050 dollars.This bracket represents the very poorest Americans. The previous tax rate on this group was 10% but under the Trump tax plan, their rate has been slashed to… wait, it’s still 10%! This must be what Bernie and AOC are talking about. The poorest among us didn’t save a penny. That Trump and his Republican cohorts are ruthless, greedy bastards. Or are they? What Bernie and AOC don’t tell you is that while the tax rate remained unchanged, the standard deduction for joint filers went from $12,700 to a whopping $24,000. That means that someone earning $19000 a year in 2017, the last year of the previous tax rates, had a standard deduction of $12,700 and thus still owed taxes on the remaining $6 or 7 thousand in income. If they have a bunch of kids they could likely deduct more (we will get to that in a minute) but most of those folks opted for the standard deduction rather than itemizing. That means that the very poor still owed a portion of their salary in taxes. But even though the bracket stayed the same and the 10% tax rate stayed the same, with the new standard deduction of $24,000, these folks can deduct more than their entire salary. That means they have ZERO, got that, no tax liability in terms of federal income tax. In short, the Trump tax plan actually let the poorest Americans keep not just more of their money, but ALL of their money. But what about the rest of the brackets, most Americans, thankfully, don’t fall into that bottom bracket. So where to the rest stack up. Well, here goes. Bracket number two, households earning between $19050 and $77400, their tax rate went from 15% down to 12%. This is your average middle income to lower middle income family, folks that aren’t destitute but they are living paycheck to paycheck. They had an overall reduction of 3% in addition to the increased standard deduction as well.Bracket number 3, households earning between $77400 and $165000 per year. This is your middle to upper middle income group. These folks represent a large chunk of America, they are the conscientious ones, the savers, the financially responsible folks who, by and large, try and make good decisions. Those at the higher end of the bracket probably live comfortably but this group overall is hardly what you think of when you hear the terms rich or wealthy. Their rate went from 25% to 22%, a proportional reduction to the previous group of about 3%. Still with me, here is where it gets interesting. Bracket 4, those households earning between $165000 and $315000 saw their tax rate go from 28% down to 24%. That’s a four percent reduction for those of you that struggle with math and the largest reduction of any bracket. Now, some of you might say, those folks are rich, why do they get the biggest tax break. To explain that, let’s talk about pass through taxation. This group includes a big chunk of small business owners. The majority of small businesses are organized as LLCs or s-corps. What that means is that they don’t pay a separate corporate tax; instead the company’s earnings pass through to the owner’s personal income tax returns.Trust me when I tell you that there are a lot of business owners out there who, on paper, land in this bracket but you would never know it to look at them. They are the folks who occasionally struggle to make payroll, who go without for many years while building their business. So if a husband and wife own a business, pay themselves a modest salary of $50k per year and the business turns a net profit of $100k, all of that lands on their personal returns and this is the bracket they fall into. But unless you believe that every business empties their checking account each December 31st directly into the owner’s purse, the reality is that some of that profit is used to pay the taxes owed and the rest is put back into the business on January 1st. The folks in this group are job creators, they are builders, they are building businesses bigger, stronger and every penny they get back is likely to be poured into the business in order to achieve that goal. That is why this group got a larger tax break, mind you it’s only one percent bigger than the last two brackets so it’s not like they won the lotto here. But if your goal is to create jobs and that was Trump’s stated goal, shaving off an extra percent from this group makes sense. Bracket 5 is a household income between $315k and $400k. That’s a lot of money; surely these folks are what most people would call “rich.” If the Bernie talking points are correct, this group probably got a big reduction. Nope, they went from 33% down to a whopping 32%. That’s right; they got a one percent tax cut. Maybe those folks aren’t “one percent” enough to curry favor with Trump and the greedy republicans. Maybe bracket 6, households earning between $400k and $600k, maybe they are the ones Bernie talks about.Nope, not them either, their rate went from between 33% and 35% all the way down to 35%! Not only did the upper por