Wednesday, April 18, 2018 10:51:38 PM
Paul Ryan is having a sad! Lots of embedded links.
The Republican "Tax Cut" Scam Is Crashing And Burning With American Voters.
No wonder he's not running for re-election.
It looks like the Republicans’ “signature achievement” of gutting taxes for corporations and the nation’s ultrawealthy “elite,” forced down Americans’ throats over the last Christmas holiday, has crashed and burned, at least with those Americans whose votes Republicans are counting on to keep them in office.
Americans have now been collecting post-tax-cut paychecks for more than two months — and they still don’t like Donald Trump’s signature legislative achievement. In fact, as Republicans fan out across the country Tuesday for “Tax Day” rallies celebrating their law, the vast majority of voters still refuse to accept that their taxes have even gone down.
As reported by Eric Levitz for New York Magazine, the tax giveaway to the rich passed by House and Senate Republicans last year was the least popular “tax cut" in history. It’s even less popular, on balance, than the tax hikes under George H. W. Bush and Bill Clinton.
It wasn’t supposed to turn out this way. In the feverish minds of Republican Congressmen, Americans were supposed to salivate like Pavlovian dogs and roll over to bask in the enormous tax cuts they’d been promised. They were also supposed to magically forget all the harrowing warnings about “exploding the deficit” that Republicans used over and over to justify their attempts to cut programs like Social Security and Medicare.
It seemed like such a fine idea at the time. Now it’s a brilliant mistake:
Initially, Republicans took solace in the thought that their bill’s unpopularity was merely the product of Democratic duplicity. After all, as of late last year, only about one-third of voters said that they expected the legislation to lower their taxes — even though the bill is expected to reduce the tax burdens of roughly 80 percent of U.S. households. Surely, Americans would love the Trump tax cuts once they got to know them.
But they didn’t. And they don’t. The chump change some have managed to pocket from these cuts turned out to be negligible in light of soaring health care costs and the fact that real wages haven’t budged:
The most recent poll on the legislation is particularly grim: This month, NBC News and The Wall Street Journal found that the tax cuts have grown more unpopular since taking effect, with just 27 percent of Americans calling the legislation a “good idea,” and 36 percent deeming it a “bad one.” What’s more, just 39 percent of the public expects the tax cuts to have a “positive impact” by strengthening the economy and growing jobs — while 53 percent foresee a negative impact from “higher deficits and disproportionate benefits for the wealthy and big corporations.”
So with about six and one-half months remaining before the election, despite a Koch Brothers-funded propaganda ad campaign, and despite the GOP having run 17,800 TV spots so far this year touting their tax cuts, Americans remain singularly hostile to this handout to the nation’s wealthiest. In the interim, the real beneficiaries of the Republicans’ efforts have come sharply into focus:
As most Americans report that they have seen little to no paycheck boost thanks to the Trump-GOP tax cuts, the very biggest Wall Street banks are reporting quite the opposite: record profits.
Thanks to the Republican law's drastic reduction of the corporate tax rate from 35 percent to 21 percent, the combined earnings of Goldman Sachs, JP Morgan Chase, Citigroup, and Wells Fargo "increased by more than $2.5 billion" in just the first three months of 2018, the Wall Street Journal found in an analysis of bank earnings reports on Tuesday.
Unfortunately for the Republicans, Wall Street Banks still can’t vote.
As Americans realize they have been scammed, as deficits start ballooning to the $1.85 Trillion projected by the CBO over the next decade, and as calls to gut Social Security and Medicare and other necessary social programs start to get louder and more shrill from the same Republicans who passed these massive cuts, there is going to be to hell to pay:
There was no popular outcry for “middle-class tax cuts” in 2017 — let alone, for giant corporate cuts financed by reductions in health-care subsidies. The GOP assumed that voters would come around to its view on “starving the beast,” once they got their share of Uncle Sam’s rations. They assumed wrong.
Come November, the Republican Party will have nothing to run on except for Donald Trump.
And good luck with that.
https://www.dailykos.com/stories/2018/4/18/1757927/-The-Republican-Tax-Cut-Scam-Is-Crashing-And-Burning-With-American-Voters
The Republican "Tax Cut" Scam Is Crashing And Burning With American Voters.
No wonder he's not running for re-election.
It looks like the Republicans’ “signature achievement” of gutting taxes for corporations and the nation’s ultrawealthy “elite,” forced down Americans’ throats over the last Christmas holiday, has crashed and burned, at least with those Americans whose votes Republicans are counting on to keep them in office.
Americans have now been collecting post-tax-cut paychecks for more than two months — and they still don’t like Donald Trump’s signature legislative achievement. In fact, as Republicans fan out across the country Tuesday for “Tax Day” rallies celebrating their law, the vast majority of voters still refuse to accept that their taxes have even gone down.
As reported by Eric Levitz for New York Magazine, the tax giveaway to the rich passed by House and Senate Republicans last year was the least popular “tax cut" in history. It’s even less popular, on balance, than the tax hikes under George H. W. Bush and Bill Clinton.
It wasn’t supposed to turn out this way. In the feverish minds of Republican Congressmen, Americans were supposed to salivate like Pavlovian dogs and roll over to bask in the enormous tax cuts they’d been promised. They were also supposed to magically forget all the harrowing warnings about “exploding the deficit” that Republicans used over and over to justify their attempts to cut programs like Social Security and Medicare.
It seemed like such a fine idea at the time. Now it’s a brilliant mistake:
Initially, Republicans took solace in the thought that their bill’s unpopularity was merely the product of Democratic duplicity. After all, as of late last year, only about one-third of voters said that they expected the legislation to lower their taxes — even though the bill is expected to reduce the tax burdens of roughly 80 percent of U.S. households. Surely, Americans would love the Trump tax cuts once they got to know them.
But they didn’t. And they don’t. The chump change some have managed to pocket from these cuts turned out to be negligible in light of soaring health care costs and the fact that real wages haven’t budged:
The most recent poll on the legislation is particularly grim: This month, NBC News and The Wall Street Journal found that the tax cuts have grown more unpopular since taking effect, with just 27 percent of Americans calling the legislation a “good idea,” and 36 percent deeming it a “bad one.” What’s more, just 39 percent of the public expects the tax cuts to have a “positive impact” by strengthening the economy and growing jobs — while 53 percent foresee a negative impact from “higher deficits and disproportionate benefits for the wealthy and big corporations.”
So with about six and one-half months remaining before the election, despite a Koch Brothers-funded propaganda ad campaign, and despite the GOP having run 17,800 TV spots so far this year touting their tax cuts, Americans remain singularly hostile to this handout to the nation’s wealthiest. In the interim, the real beneficiaries of the Republicans’ efforts have come sharply into focus:
As most Americans report that they have seen little to no paycheck boost thanks to the Trump-GOP tax cuts, the very biggest Wall Street banks are reporting quite the opposite: record profits.
Thanks to the Republican law's drastic reduction of the corporate tax rate from 35 percent to 21 percent, the combined earnings of Goldman Sachs, JP Morgan Chase, Citigroup, and Wells Fargo "increased by more than $2.5 billion" in just the first three months of 2018, the Wall Street Journal found in an analysis of bank earnings reports on Tuesday.
Unfortunately for the Republicans, Wall Street Banks still can’t vote.
As Americans realize they have been scammed, as deficits start ballooning to the $1.85 Trillion projected by the CBO over the next decade, and as calls to gut Social Security and Medicare and other necessary social programs start to get louder and more shrill from the same Republicans who passed these massive cuts, there is going to be to hell to pay:
There was no popular outcry for “middle-class tax cuts” in 2017 — let alone, for giant corporate cuts financed by reductions in health-care subsidies. The GOP assumed that voters would come around to its view on “starving the beast,” once they got their share of Uncle Sam’s rations. They assumed wrong.
Come November, the Republican Party will have nothing to run on except for Donald Trump.
And good luck with that.
https://www.dailykos.com/stories/2018/4/18/1757927/-The-Republican-Tax-Cut-Scam-Is-Crashing-And-Burning-With-American-Voters
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
