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Thread: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

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    538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Senate Republicans’ effort to pass tax reform is at a crucial juncture. As some senators waffle on whether to support the bill, they may want to spare a glance toward public opinion: Poll after poll shows that more voters than not are opposed to their efforts. In fact, the GOP bill is one of the least popular tax plans since Ronald Reagan’s day.

    About a third of voters currently support the Republican tax reform package, according to an average of five surveys released1 this month. In a Quinnipiac University survey, just 25 percent of voters approved of the plan. Surveys from ABC News/Washington Post, CNN, Morning Consult and YouGov put approval of the plan slightly higher, but all are still at 36 percent or lower. Meanwhile, an average of the five polls puts opposition at 46 percent.
    Heavens. I can't understand why most polled would dislike a bill that lowers taxes on the rich, raises middle class taxes and adds to the debt, without significant economic growth.
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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by MTAtech View Post
    The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes


    Heavens. I can't understand why most polled would dislike a bill that lowers taxes on the rich, raises middle class taxes and adds to the debt, without significant economic growth.
    The GOP is self destructing: Give donors everything we can and eject.
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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Well while the OP I believe seriously distorts what the tax bill is and will do, I remember how unpopular the Reagan tax reform was as the Democrats were characterizing that in the same way back then. It had about 15% public approval. But, once it was ushered in, we enjoyed the longest period of sustained growth in a peacetime economy that this nation had ever seen.

    I am pretty sure the GOP in Congress know what they are doing and anticipate much the same kind of results. It always takes a few months for any tax reform to kick in with whatever affect it will have on the economy so we will see.
    "I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it." --Benjamin Franklin 1776

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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by MTAtech View Post
    The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes


    Heavens. I can't understand why most polled would dislike a bill that lowers taxes on the rich, raises middle class taxes and adds to the debt, without significant economic growth.
    When one is not properly informed it is hard for one to support it.
    The final bill hasn't even been submitted yet they are still working on it and their are changes coming to the bill.

    When the bill is lied about and the media can't be honest yea people are not going to like it.

    So far it appears the top rate will fall from 39.5 to 37.
    Mortgage deduction up to 750k.
    People will get to write off income and property taxes but it is capped at 10k I do believe.
    You can deduct medical expenses.


    The ATM is in place but for 500k ind. 1m for couples.

    Still waiting on the important details such as tax bracket standard deductions and the child tax credits.


    Corporate rate will be 21% instead of 20%.

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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by MTAtech View Post
    The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes


    Heavens. I can't understand why most polled would dislike a bill that lowers taxes on the rich, raises middle class taxes and adds to the debt, without significant economic growth.
    It is painfully obvious that the GOP and those they look to for inspiration are woefully out of touch with the nation and most of its people. Believing in tax cuts is at the very top of the list of basic conservative beliefs and they are determined to deliver tax cuts of the rich and corporations no matter what. And the sick reality that they actually believe this will save their sorry political asses shows how the right wing lives in a alternate reality of their own creation.
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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by AlbqOwl View Post
    Well while the OP I believe seriously distorts what the tax bill is and will do, I remember how unpopular the Reagan tax reform was as the Democrats were characterizing that in the same way back then. It had about 15% public approval. But, once it was ushered in, we enjoyed the longest period of sustained growth in a peacetime economy that this nation had ever seen.

    I am pretty sure the GOP in Congress know what they are doing and anticipate much the same kind of results. It always takes a few months for any tax reform to kick in with whatever affect it will have on the economy so we will see.
    They kicked and howled over the Reagan tax reforms but the end result is that everyone was better off.
    Median income rose 4K dollars. People from lower quintiles jumped two or three.

    Amazing what happens when more people have more money in their pockets. Not to mention the government brought in more money because of it.

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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by AlbqOwl View Post
    I am pretty sure the GOP in Congress know what they are doing
    Seriously?
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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Does anyone besides me remember when Paul Ryan promised to be the adult in the room, would work to make sure that nothing bad happened to us?

    At this point I cant see how he would be better than Pence as Trumps replacement.

    This guy has completely failed America.

    BOO
    The American Left never had the right to try to control minds or conversations.... that is abuse....and it has to be over.
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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by AlbqOwl View Post
    Well while the OP I believe seriously distorts what the tax bill is and will do, I remember how unpopular the Reagan tax reform was as the Democrats were characterizing that in the same way back then. It had about 15% public approval. But, once it was ushered in, we enjoyed the longest period of sustained growth in a peacetime economy that this nation had ever seen.

    I am pretty sure the GOP in Congress know what they are doing and anticipate much the same kind of results. It always takes a few months for any tax reform to kick in with whatever affect it will have on the economy so we will see.
    The Reagan numbers yield an average annual growth of 3.5% and results in a recession. Year/GDP Growth/Notes

    1981 2.6% Reagan tax cut
    1982 -1.9%
    1983 4.6% Tax hike
    1984 7.3% Increased defense spending (Star Wars)
    1985 4.2%
    1986 3.5% Tax cut
    1987 3.5%
    1988 4.2%
    1989 3.7%

    1990 1.9% Recession
    1991 -0.1% Recession

    The current GOP proposed tax cuts require economic growth of [4-5%/10 years] to pay for itself (revenue neutral).

    That's simply not going to happen. unemployment is already low, corporations are already sitting on trillions, the US has a negative population curve, Trump is disrupting established US trade pacts


    • Remember this on November 6th ... Republicans will always elevate corporations above of the best interests of their human constituents •

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    Re: 538: The GOP Tax Cuts Are Even More Unpopular Than Past Tax Hikes

    Quote Originally Posted by AlbqOwl View Post
    I am pretty sure the GOP in Congress know what they are doing and anticipate much the same kind of results. It always takes a few months for any tax reform to kick in with whatever affect it will have on the economy so we will see.
    What planet are you on? Anyone can deficit spend to get a boost to the economy. BY definition that's a stimulus...
    They are claiming it won't raise the deficit though, is the issue. The have been telling us they ran the numbers and they look good, despite everyone else saying the numbers are terrible. We finally pushed and were told:

    Mnuchin has repeatedly pledged that more than 100 career staff members were "working around the clock on running scenarios" to show how the costs of the $1.5 trillion GOP proposal would be covered by economic growth. He even noted in September that an in-house analysis showed the bill would reduce the deficit by $1 trillion rather than increase it.
    When asked for it, he didn't actually have one. He's now under investigation for appearing to have lied about this.

    You know he was already under investigation for taking private jets right? Remember the one he took his wife on to watch the eclipse?

    With you as their supporter, I can assure you, they know what they are doing and it's pillaging for their own gain, with you cheering them on.

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