Tax update

Millionaires will save $17 billion because of a provision in the tax cuts.

This column shows that voters understand the tax cuts won’t help most of them:

“Just 27 percent of Americans believe the GOP tax overhaul was a good idea, according to a recent NBC News/Wall Street Journal poll. Even among Republican voters, the tax cuts are not exactly thunderously popular: A little more than half (56 percent) say they were a good idea. ”

The tax cut is not doing what Republicans claimed it would according to this column.

The author says “…the tax cut haven’t as yet juiced up the economy; the pass-through gimmick was a huge sop to the rich; and the cuts ballooned the debt.”

The law actually gives companies incentives to move factories and offices out of the US.

 

 

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