A just-released CNBC poll finds that less than one in three people have noticed President Donald Trump’s highly-touted tax cuts in their paychecks. The news puts into question the depth of the cuts Trump claimed, and the idea that Congressional Republicans will be able to hold onto their seats as a result of the extra money in voters’ pockets.
“Just 32 percent of the public reports having more take home pay because of the tax cuts, including only 48 percent of Trump supporters and 35 percent of the middle class,” CNBC reports. “More than half say they see no change in their paychecks and 16 percent are unsure. It could be that more time is needed for people to notice the change. It could also be that the tax cut provided too small a break to be meaningful to many Americans.”
And while notable Republican lawmakers like Speaker Paul Ryan mocked Democratic Minority Leader Nancy Pelosi for calling the tax cuts “crumbs,” he might be surprised to learn that among those who did notice the extra slice in their paychecks, few say it’s more than what his Democratic predecessor described.
Of the 32 percent who noticed, “only 38 percent say the extra pay helps their financial situation ‘a great deal’ or ‘a fair amount,’ while 40 percent say it helps some or just a little, and 22 percent say ‘it does not help much at all.'”
While Republicans rarely if ever mention it, the tax cuts for individual tax payers are temporary, but the massive tax cuts for corporations are permanent.
Image by Gage Skidmore via Flickr and a CC license