Search This Blog

Defying the Odds

Defying the Odds
New book about the 2016 election.

Sunday, December 24, 2017

"You all just got a lot richer."

 In Defying the Odds, we discuss the tax issue in the 2016 campaign.  

Kathryn Watson at CBS:
President Trump kicked off his holiday weekend at Mar-a-Lago Friday night at a dinner where he told friends, "You all just got a lot richer," referencing the sweeping tax overhaul he signed into law hours earlier. Mr. Trump directed those comments to friends dining nearby at the exclusive club — including to two friends at a table near the president's who described the remark to CBS News — as he began his final days of his first year in office in what has become known as the "Winter White House."
 S.V. Date at Huffington Post:
President Donald Trump’s falsehood-rich style appears to have come back to bite him as he brags about his only major legislative accomplishment.

Having passed tax cuts that provide modest help to most Americans, Trump and GOP leaders are finding that most Americans just don’t believe it.

A CNN poll earlier this month found that only 21 percent of respondents believed they would be better off under the tax plan, while 37 percent believed they would be worse off. Another 36 percent thought they would not be affected much either way.

In reality – at least until the individual tax cuts expire at the end of 2025 – the vast majority of families will benefit from the cuts, although not necessarily that much for the typical middle-income family. While the overall benefits skew toward the wealthy because of the dramatic 40-percent reduction in the corporate income tax rate, some 80 percent of taxpayers will see a tax reduction next year, according to the non-partisan Tax Policy Center, while 5 percent will get a tax increase and the remainder will see little difference.

That disconnect is not surprising to Neil Newhouse, a prominent Republican pollster. “The data you’re seeing is measuring voter reaction to the Trump-GOP tax plan, and neither of those brands is scoring particularly well right now,” Newhouse said. “Voters are responding less to what’s actually in the tax plan and more to who’s taking credit for it.”