What the Left Doesn't Want You to Know About Trump's Tax Cuts

PJ Media ^ | 04/15/2019 | Tyler O' Neil

[SeekAndFind]

This Tax Day, most Americans will end up paying less to the federal government, but many of them are convinced they're actually paying more. Liberals have leveraged their power in the media to pull off an impressive and terrifying misinformation campaign, and even The New York Times had to admit it.

The benefits of the Trump tax cuts have been powerful and broad. A whopping 82 percent of middle-class Americans saw a tax cut last year, with an average savings of more than $1,260. A full 90 percent of workers saw an increase in pay after the IRS adjusted withholding tables to reflect the new law. Last year, wages grew an average of 3.3 percent, the best in a decade. The Republican tax cuts accelerated job growth by nearly 25 percent and opportunity zones led investors to put their money into distressed communities. Finally, the Trump tax cuts doubled the child tax credit, saving working families an estimated $100 billion.

These aren't just Republican talking points. The Tax Policy Center estimated that 82 percent of middle-income Americans will receive a tax cut for an average reduction of individual income taxes of $1,260 in 2018, increasing after-tax incomes by 1.7 percent. Lower-middle-class households saw the largest tax cut as a percentage of their income, The Wall Street Journal reported. The new withholding tables lower the amount of money employers withhold from workers' paychecks, according to USA Today. According to the Treasury Department, 90 percent of Americans saw an increase in their take-home pay. The Bureau Of Labor Statistics reported a 3.3 percent average wage increase.

CNBC reported the wage growth for October and December 2018 was tied for the best since April 2009. The Bureau Of Economic Analysis reported that real GDP grew by 3.1 percent

[SeekAndFind]

Trump, Republicans' Tax Reform Law

|

Polling Data

Poll	Date	Sample	Approve	Disapprove	Spread
RCP Average	1/30 - 4/2	--	36.3	40.8	-4.5
Economist/YouGovEconomist	3/31 - 4/2	1227 RV	37	46	-9
PPP (D)PPP (D)	3/27 - 3/28	846 RV	25	40	-15
FOX NewsFOX News	2/10 - 2/12	1004 RV	34	36	-2
CNNCNN	1/30 - 2/2	RV	49	41	+8

All Trump, Republicans' Tax Reform Law Polling Data

RCP Poll Average

Trump, Republicans' Tax Reform Law

Trump, Republicans' Tax Reform Law

36.3

Approve

40.8

Disapprove +4.5

--

--

--

--

[Buckeye McFrog]

I hope I’m an outlier, but personally all I hear is people griping about taking a hit from the capping of their state and local tax deductability.

[Mariner]

“A whopping 82 percent of middle-class Americans saw a tax cut last year”

And the rest of us paid for it.

[SeekAndFind]

RE: I hope I’m an outlier, but personally all I hear is people griping about taking a hit from the capping of their state and local tax deductability.

The above gripes come from people who live in high tax, high property tax states ( e.g. New York, New Jersey ).

Also, many are complaining about LOWER TAX REFUNDS compared to last year.

[Mariner]

They could be in a Dallas or Raleigh suburb as well.

[Buckeye McFrog]

The above gripes come from people who live in high tax, high property tax states ( e.g. New York, New Jersey ).

I'm hearing this from locals here in Pennsylvania. Of course some of our local school districts have property taxes which are through the stratosphere.

[RWGinger]

No
There is no state income tax in Texas.
If people are complaining about the 10K cap on SALT then they are the rich who the Dems say should be paying more.

[Mouton]

I especially am incensed by those complaining of lower tax refunds because they over look they have paid less tax on the same income this year as last while not considering their withholding level decreased.

In articles with percentages blared, most never mention that a lot of complaining comes from those who pay no tax in the first place because about 50% of the w2 earners are below the threshold after deductions and exemptions. Just more anti Trump propaganda.

[beef]

“LOWER TAX REFUNDS compared to last year.”

Taxes as a % of AGI are lower for lower and middle income people, but withholding is apparently now more in line with the expected tax bill. The legacy media knows that many people regard their tax refunds as some kind of present from the government, and not as the government returning your money. They are using that fact to spin the tax bill negatively.

[griswold3]

Most US taxpayers cannot do math

[Pearls Before Swine]

Myself—I paid roughly 20% more, mostly because of the 10K SALT limitation. But, my unrealized appreciation from investments makes up for it. The US absolutely had to regain tax competitiveness in business. I’m happy with the new tax regime, both economically and patriotically.

Unfortunately, the Democrats look at the now reasonable corporate tax rate as a potential tax dividend/kitty for their statist spending and redistribution plans.

[Mariner]

“If people are complaining about the 10K cap on SALT then they are the rich who the Dems say should be paying more.”

Just what is your definition of rich?

People making between $100k and $175k?

[USCG SimTech]

Made a little more money in 2018 compared to 2017. Yet I paid $2008 less in taxes once all the returned were processed. $2008 take home so we bought a new American car, putting it back into the American economy. The Trump strategy worked on me.

[ExTxMarine]

I live in Fort Worth. I make over $80K a year.

I GOT A TAX CUT!

[RWGinger]

Could be
If Dems get their way people in that range will pay more,
The point is Dems are whining they have to pay more since Trump capped the SALT at 10k.

People who make less than 35K think people making over 100K rich.