Poll Shows That Majority Of Americans Say They Are Not Benefiting From Tax Cuts
Poll: Most voters say they haven't seen pay boost from tax law
https://www.politico.com/story/2018/04/25/poll-tax-law-503982
More than half of registered voters say they haven’t noticed an increase in their paychecks as a result of the new tax law, and support for the law overall remains tepid, according to a new POLITICO/Morning Consult poll.
The April 19-23 survey suggests that Republicans’ message about the benefits of the tax cuts, which they are counting on to buoy their election fortunes in November, hasn’t broken through. At the same time, those who said they have seen a pay increase were more likely to support Republicans in Congress who voted for the tax overhaul than Democrats who opposed it.
The poll results were heavily colored by partisanship, with Republicans overwhelmingly supporting the law and Democrats opposing it. A plurality of independent voters supported it.
Even whether someone noticed a pay bump appeared influenced by politics, with twice as many Republicans saying they had seen one as Democrats.
Overall, 55 percent of those surveyed said they had not noticed an increase in their paychecks in “the past several weeks.” Twenty-two percent said they had, and the rest didn’t know or had no opinion.
The number saying they have seen no increase is up slightly from a POLITICO/Morning Consult poll in February, when 51 percent reported that, compared to 25 percent who said they had noticed a bump.
General support for the tax law remained statistically where it was in February, with 44 percent now in favor, 39 percent opposed and 17 percent undecided or having no opinion. A whopping 80 percent of Republicans support the law, while only 17 percent of Democrats do.
Support among independents ticked up, to 41 percent from 38 percent in February.
Republicans could reap rewards in November from those who do see a rise in their paychecks. Sixty-five percent of those reporting an increase said it made them more likely to support Republicans in Congress, including 63 percent of independents and 35 percent of Democrats.
Other recent polls, by Gallup and The Wall Street Journal/NBC, showed more voters oppose the law than support it. But Republicans say that will turn around as more Americans see benefits.
House Ways and Means Chairman Kevin Brady (R-Texas) said Tuesday that generic polling doesn’t reflect how most people view the law.
“When you ask people, ‘Should you be able to keep more of what you’ve worked so hard to earn, you want to see the standard deduction doubled, do you want to get more help raising your kids, you want to see those paychecks rise,’ the answer invariably is ‘Yes,’” he told Fox Business Network’s Maria Bartiromo. “I think just the general comment, you sometimes get a different answer.”
Republicans also plan to put another tax plan to a vote this year, including making permanent individual tax cuts that are set to expire at the end of 2025.
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"there’s no evidence whatsoever that the money’s been massively poured back into the American worker.’"
Marco Rubio just undercut the Republicans’ main argument for corporate tax cuts
The corporate tax cuts that Congress passed last year are not helping workers, Sen. Marco Rubio said, refuting a key Republican talking point.
‘There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers. In fact they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.’
In an interview with the Economist published Monday, the Florida Republican admitted what Democrats, analysts and nonpartisan experts had claimed from the beginning — that the bulk of the 2017 tax overhaul would benefit the wealthy.
“We couldn’t have said it any better ourselves,” said Matt House, spokesman for Sen. Chuck Schumer, the New York Democrat who is the Senate minority leader.
Last fall, Rubio had been publicly wary of reducing the corporate tax rate from 35% to 21% but ended up voting for the bill after it included an expansion of the child tax credit.
“As he said when the tax law passed, cutting the corporate tax rate will make America a more competitive place to do business, but he tried to balance that with an even larger child tax credit for working Americans,” Rubio’s spokeswoman said in a statement Monday.
The White House had claimed at the time that the tax cuts would spur companies to create more jobs and that American workers would benefit from burgeoning corporate coffers, with incomes getting a $4,000 boost, the Trump administration predicted, on average.
As early as October, Jared Bernstein, who had served as chief economist to Vice President Joe Biden, dismissed those forecasts as “trickle-down fairy dust.”
A recent Wall Street Journal/NBC News poll found most Americans believe the tax overhaul was a bad idea, and a Politico/Morning Consult poll last week found most voters had not seen an increase in their paychecks as a result of the tax bill.
Rubio went on to tell the Economist that more flexible benefits and job training need to be available to workers. “If we basically say everyone is on their own and the market’s going to take care of it, we will rip the country apart, because millions of good, hard-working people lack the means to adapt,” he said.
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Anyone who actually thinks for themselves and understands how businesses operate , knew that was going to happen. Businesses are not going to create jobs where demand does not meet the need, no one is holding back jobs because of taxes.
It is not only the creation of jobs that is the issue. Also raises and bonuses.
I heard on the radio this morning that corporations are not investing the tax cuts back into the employees because they say the tax cuts are not permanent. If the tax cuts were permanent they would have some other excuse.
Can you give some examples of companies not doing this?
This has been obvious from the start.
How exactly would it affect the "wealthy"? Could you give us some details and facts and figures?
They will notice it next April when they file their taxes.
Shhhh. The left has conducted another poll. It is the only thing they have left. Please stop polluting that poll with facts that it doesn't take into account.
True, proof of tax implications will be evident next year. Concerned the anticipated consumer spending is not being realized in addition to lackluster corporate investments. 2018 GDP numbers will ultimately tell the tale...GOP will either hang their hat or head.
Good news I’d say.
Business Investment Increases by 39 Percent in Q1 2018
When a sham "tax cut" gets passed for corporations and wealthy donors you mean someone actually believed all the lies that Republicans told to get this passed?
Republicans lie? What a shock.
Thanks for link...trying to find supporting data is challenging.
My statement regarding corporate investment based on tax cuts was gleaned from
All I know is that Republican lawmakers were adamant in insisting on the tax scam passing because their mega donors had told them that they would not see one more penny in political contributions from them if the scam wasn't passed. Down came the corporate tax rate, pass through deductions were another scam that helped businesses, modifications in the inheritance tax helped the wealthiest among us.
The scam worked.....the rich got richer......the upper middle class got peanuts.......and the rest of the country were given a pile of crap that they were told would turn to gold. Meanwhile, increased medical insurance costs wiped out any cuts plus cost more.
Now the republicans are going to try to sell snow to eskimos and insist that this scam is working for the people it is punishing. They're probably going to offer Brooklyn Bridges for sale or property in the Gobi desert with "beach and sand" views to get more money out of the poor.
The moral of this story is.......how do you know a republican who has cozied up to Trump is lying? As soon as he gets his mouth out of Trump's backside, Trump BS pours out of it.
I’m very happy with the tax cuts and know that nobody voted for Republicans to raise their taxes. This is a big reason they were elected in the first place. The only disappointment for me is the continued runaway spending. After seeing the success of sequestration act hopefully another much larger sequestration will be passed in the near future.