CNBC wanted to find out just how much Americans are benefiting from the Republican tax scam that President Trump and Republicans in Congress shoved down our throats–and the results are stunning.
According to a CNBC All-America Economic Survey, a majority of Americans are not seeing any major change in their paychecks following Trump’s tax cuts. It seems 52 percent of working adults say they haven’t seen a change, with just 32 percent of the working adults claiming they’re taking home more money.
Via the Hill:
“Of those saying they are taking home more money, 38 percent say the extra pay they receive helps them a ‘great deal’ or a ‘fair amount.’Forty percent say the extra pay helps ‘some’ or ‘just a little, and 22 percent report that the extra pay ‘does not help much at all.’ Treasury Secretary Steven Mnuchin has said that 90 percent of wage earners would see bigger paychecks due to the guidance.”
When Republican exploited Reconciliation rules and hastily passed their $1.5 trillion tax cut in December, barely if any Americans believed they would reap any rewards.
But Republicans work for the billionaire Koch Brothers and they pretty much own the GOP, forcing the rest of America to get poorer and poorer. Whereas the tax cuts for corporations are permanent, the tax cut for individuals is temporary.
For example, the cuts in individual tax rates would end at the end of 2025, as would the proposed tax cuts for “pass-through” entities — businesses that pay taxes through the individual income tax code.
The tax cuts follow the same failed policies and gospel of the past: giving corporations more money means that it will trickle down to the average worker and induce more consumer spending. We all know that this is simply not true and so do Republicans, but that will never stop them from continuously misinforming unsuspecting Americans.
Featured Image Via YouTube Video.