Believe us, trust us, vote for us: Our tax bill solves everything
(Wink/Wink - Nod/Nod)
Bill passage dinner - come see how the bill
works
(Have a seat enjoy)
Laughable
introduction from this fine article (my spin and emphasis added - call
it: the chickens come home to roost):
When Republicans were promoting this monster of a tax cut last year,
they repeatedly claimed it would help middle-class Americans. Treasury
Secretary Steven “With Arrogant Greedy Wife”
Mnuchin argued the middle class would benefit, while the rich would
receive “very little cuts or, in certain cases, increases.” This was
laughably untrue.
Some of the arguments
verged into this parody wherein Ivanka “Here is my latest
design bracelet” Trump-Kushner (newest West Wing Ad) claimed that the plan
would “create simplification” for Americans.
What a remarkable
statement considering the bill was passed with so little deliberation that it’s
now becoming clear a huge number of “errors and ambiguities” are causing
problems for large and small businesses alike.
A recent poll
released from CNBC’s All America Economic Survey, conducted by Hart
Research Associates and Public Opinion Strategies in mid-March, found that only
a third of the Americans have noticed more money in their paychecks because of
$1.5 trillion Trump tax cuts.
More than half
— 52 percent — say they’ve seen no change at all.
The extra take
home pay is so inconsequential to most people that, of the minority who says
they’ve noticed the extra funds, a little less than 40 percent say it’s
improved their finances “a great deal” or “a fair amount,” with the remainder
saying it the money either helps a small amount or not at all. The tax bill, as we all
know, was a major gift to corporations and the wealthiest of the wealthy, who
received the lion’s share of the $1.5 trillion cuts.
The cuts the
typical American received, on the other hand, are relatively minor. The
nonpartisan Tax Policy Center estimated that the typical middle-income
household would see an after-tax gain of $930 in 2018 as a result of the new
law. Assuming a one-paycheck household, that adds up to a little less
than $18 a week.
Super article conclusion: Republicans also
argued voters would reward them come this November for the extra money in their
paychecks. This data shows that’s an increasingly unlikely possibility.
Perhaps the GOP will take
comfort from the long view: Individual tax cuts are set to expire at the
end of 2025, even as the corporate cuts, which overwhelmingly benefit the
wealthy, continue.
So, maybe ordinary voters
won’t notice that their tax cut disappeared even as those enjoyed by the rich
live on in perpetuity.
Thanks for stopping by.
Enjoy your $20 weekly increase…!!!
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