Posted on 12/13/2017 12:25:07 PM PST by Kaslin
A new national survey conducted by Marist College's polling operation shows that a 52 percent majority of US voters believe the Republican tax reform proposal will negatively impact their personal financial situation. Less than one-in-three respondents think they'll benefit. This overwhelmingly inaccurate perception represents the fruit of Democrats' media-aided labor over recent weeks, as they've flooded the national debate with factually false assertions and ludicrous hysteria. The truth, as we've relayed on numerous occasions, is that nonpartisan analyses of the plan have concluded that on average, every income group will receive a tax cut -- including, if not especially, the middle class. I have not shied away from conceding potential negative outcomes for certain taxpayers, nor have I dismissed deficit-related concerns; the fact remains, however, that the exceedingly lopsided majority of taxpayers will see their tax burdens lowered and after-tax incomes rise under the Republican bill. The green dots below represent middle class households currently taking the standard deduction that will see a tax reduction (the red dots are the very rare exceptions):
NYT editors, today: GOP tax reform doesn't help the middle class.
NYT news analysis, yesterday: Virtually every single middle-income taxpayer who takes the standard deduction (70%! of filers) will get a tax cut, as will a substantial majority of those who itemize. pic.twitter.com/PuOhZcXzLY— Guy Benson (@guypbenson) November 29, 2017
Roughly 70 percent of filers already take the standard deduction (a number expected to expand), which is set to approximately double under the legislation. Virtually every single one of these people would emerge as net winners. And according to a New York Times analysis, a substantial majority of middle income filers who itemize (rather than taking the standard deduction) would also see their tax bill decrease. As we explained yesterday, most of the scare-mongering talking points employed by Democrats to achieve the polling results mentioned above -- if not entirely made up -- are rooted in cherry-picked information and misrepresentation. Only a small sliver of taxpayers (in the ballpark of ten percent) might expect to see their tax bill rise due to tax reform, and those are disproportionately wealthier itemizers who live in high-tax blue states. Here's the political question Republicans need to ask themselves: Will real facts and empirical reality regain the high ground once Americans actually, you know, file their post-reform taxes? If so, the vast majority of taxpayers will realize that Democrats were lying to them. Conservative policy wonk and activist Phil Kerpen is urging people to calculate their own tax scenario using this online tool:
A political strategy completely at odds with reality seems unlikely to end well. Are you going to believe Dems/media or your lying paycheck? https://t.co/2L1M1U05OH— Phil Kerpen (@kerpen) December 12, 2017
The nonpartisan Tax Foundation also ran the numbers on how a wide array of American families would fare under reform, concluding that every household they profiled came out ahead:
Nonpartisan Tax Foundation analysis of Senate tax bill: "Our results indicate a reduction in tax liability for every scenario we modeled, with some of the largest cuts accruing to moderate-income families with children." Lower taxes & higher post-tax income across the board... pic.twitter.com/SPoRFBAYfF— Guy Benson (@guypbenson) November 28, 2017
The follow-up question for Republicans is, even if a massive supermajority of Americans do experience tax relief, will the media and Democrats try to drown out those stories by showcasing individual negative cases? The GOP should count on it, and develop an aggressive messaging strategy to highlight the countless winners under reform, constantly beating the drum about how Democrats' (literally) apocalyptic predictions were embarrassingly wrong. Unlike Obamacare, which spat out significantly more losers than winners after everyone was promised utopia, many, many more taxpayers will benefit from the Republican plan than will feel a setback -- to say nothing of independent projections of faster economic growth and the creation of nearly one million new full-time jobs. Meanwhile, here's a late-breaking detail about the compromise framework that has reportedly been reached ahead of the now-ongoing conference committee's work:
GOP final tax bill details, per two sources briefed:
* 21% corporate rate
* 37% top individual rate
* 20% pass-through deduction
* $750k for mortgage interest— Ylan Q. Mui (@ylanmui) December 12, 2017
The highest tax bracket will receive a small rate cut after all (the House bill didn't include a rate cut at the top), and the corporate tax cut was scaled back by one percentage point. Is the revenue attached to that slight uptick in the proposed corporate rate being put to the best use, policy-wise or politically? Ramesh Ponnuru says no, and I'm inclined to agree (as is Marco Rubio, incidentally):
So that 20% corporate tax rate turned out not be the non-negotiable line in the sand we were told it was. https://t.co/L43jjkyNsl— Ramesh Ponnuru (@RameshPonnuru) December 12, 2017
I'll leave you with a strong editorial in favor of reform, which posits that once tax reform is implemented and Americans see the results, liberal myths "will be demolished by reality." Also, read this report about economic bullishness among American manufacturers in anticipation of pro-growth reform. Quote: "63 percent of [manufacturing] CEOs said business tax reform would encourage capital spending and more than half said they would expand their businesses."
#ObamacareKeepYourDoctorSaveMoneyScam 😱
#DNCKillsBabies 😥
#WhereAreHillarysEmails? 🤔
Hmmm....this could be fun. Sending sign suggestions to Lyin.
#FakePolls
Be careful and pay attention to who conducts the surveys. Questions can be asked in such a way to skew the results any way they want.
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“We don’t have a final bill”
But that’s not stoping you from defending it
So you admit the new tax bill will raise taxes for a number of people. It’s just that you’re ok with that.
Making excuses for higher taxes used to be a Democrat thing. Now the GOP has joined in
The GOP doesn’t have a good message because it doesn’t have a good tax bill. When Republicans raise taxes on millions of people - as they’re doing - they’ve abandoned their principles and lost any chance for a credible message
Trump and the Republicans are doing a crap job of selling this bill to the American People. Plus a good number of folks will see their taxes go up.
This very well coukd be a suicide mission for Trump and the Republicans.
Oh, right. That’s why Donald Trump took one look at the possibility of running for president and decided not to. /heavy sarcasm off/
“Senator Shelby” = Dingy Ditch bot.
Sick.
$4,800 annual State Income tax
$4,800 annual Property tax
Right there, the first line is your biggest problem................
$19,200 mortgage interest alone based on a $140K salary? You're screwed bro. I'd love to see the house you bought for that rate and money.
But it all comes back to your state and its taxes doesn't it? That's your problem, you choose to live there..........
You didn't build that...
It's funny in the odd, lame, absurd senses.
Where do YOU live and are you still employed or retired?
This kind of weasel wording matches what the definition of is is. This is not the way normal people communicate. It immediately raises red flags that we're being conned.
I have not studied the tax bills, which are still in conference and who knows what they will eventually be.
The GOP and conservatives ... factions ... have done a terrible job of developing, packaging and selling this tax cut. The blame is on the GOP. The Dems just took advantage of the bumbling GOP.
Time to live in an offshore boat...
From what I understand, the current tax reform bill eliminates the personal exemption of $4050 per individual. For a family of four, they raise the standard deduction from $12,000 to $24,000 and then take $16,200 of it back by eliminating the personal exemption so your taxable income INCREASES by $4200. Large families are hit even harder. A family of 6 would have their taxable income increased by $12,300. This is unacceptable as it amounts to a tax increase to millions of middle income citizens. Contact your senators and representatives and demand they put it back in!
Budget Boffin PRyno and Dingy Ditch need to be keel-hauled for equivocation.
All I can say is that being retired (and only doing direct work for myself and the fam), I no longer have to be taxed for my time spent doing same.
It’s a great relief to no longer have the governments putting me in their tax slave chains for ~ 40% of my working hours.
Not that that they don’t still get a great amount of revenue from saved/accumulated/stored previous work.
Every day is FREE now.
Free at Last!, Free at Last!, Good Lord Almighty, Free at Last!
A $400k home is easily affordable on $140k.
“I can testify, with certainty, my taxes will go up substantially.
I’ve used all the tools people here have posted. And I’ve run my own numbers.
My taxes go up.
Anyone who says they won’t is either, at best disingenuous, or at worst, a liar.”
And I can testify that you must be a truly special person. Seeing that the final bill has not been voted on and WE do not know for a certainty what’s in it...you are indeed very special.
Please tell us the numbers for the next Power Ball....
Same here only I have no income other than my SS and my small pension.
With that being said, I still have a close friend doing my end of year taxes rather than rely on Turbo Tax since he's trustworthy and I'd rather pay him rather than invest in the Turbo tax program or do it on line.......
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