Did someone say avocado toast? Because the GOP tax cut is great news for avocado-loving Americans. The tax cut is going to bring more avocados into our world, and higher take-home pay to buy them and put them on toast:
Higher take-home pay means more money in wallets and more opportunities to purchase avocado toast. 90 percent of American wage earners now have higher take-home pay thanks to the Tax Cuts and Jobs Act. And at least four million American workers are receiving special tax-cut bonuses.
The world’s largest distributor of avocados is reaping the benefits of tax reform. The most important ingredient of avocado toast is arguably the avocado. And the world’s largest grower, packer, and distributor of Hass avocados, the Oxnard, California-based Mission Produce, is doing great things in the wake of tax reform.
The company is raising wages, giving special tax-cut bonuses, and investing in new facilities and technology. As reported by the Reno Gazette-Journal:
“We are giving all our U.S.-based employees a $1,000 bonus,” President and CEO Steve Barnard said at a recent company meeting. “We applaud President Trump for spearheading the action needed to pass tax reform. The Tax Cuts and Jobs Act of 2017 created a meaningful impact on Mission’s business. We plan to invest the tax savings in new facilities and technology to create opportunities for the company and for our employees. It’s only fair that we share the benefits that tax reform will have on our business with our valued employees.”
Tracy Malmos, the Chief People Officer of Mission Produce adds, “We are expanding production and distribution facilities across the United States and investing more at home than internationally.”
More avocado facilities and more avocado technology can only mean more avocados.
The GOP’s Tax Cuts and Jobs Act allows companies to immediately deduct the cost of new equipment. When a business makes a purchase of, say, a $10,000 piece of avocado-moving equipment, they can immediately deduct the $10,000 expense from their taxable income. This means companies like Mission Produce can more easily invest in the community.
Utility companies across the United States are passing their tax reform savings directly to customers. Business and residential customers are seeing lower utility bills because of these savings. Distribution facilities and ripening centers will have lower utility costs. On the residential level, these savings allow Americans more room in their household budget to purchase, say, bread and avocados.
Not to mention, lower electric bills mean it is cheaper to toast the toast when preparing avocado toast.
The avocado toast good news is under threat, however, by Democrats. “Every Democrat in Congress voted against the tax cuts. Democrats have announced that if they get back in charge, they will push a $1 trillion tax increase. If Democrats raise taxes, we would end up with less avocado toast in America, fewer jobs, and lower take-home pay,” said Grover Norquist, president of Americans for Tax Reform.
See also: National list of tax reform good news