Tax law roundup

recent articles and opinion columns on the Trump tax cut law:

Paul Krugman thinks it’s a “nothingburger”. The article states: “Krugman, who is also a columnist for The New York Times, added that he was always skeptical that the new tax law would trigger the economic benefits touted by some lawmakers. But the results so far, he said, are “worse than the pessimists expected.”   Krugman’s column is here.

Apple will buy back $100 billion in stock.

Investment boom from the tax cut hasn’t happened.

CNNMoney asked readers about the impact of the tax cut on them


Some Republicans are finally understanding the flaws in their tax law

Tom Price, former HHS Secretary, admitted the new tax law would raise the cost of health care for some people.

From this article on Marco Rubio: “There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers,” he says. “In fact they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.”

The six big Wall Street banks saved at least $3.59 billion in taxes last quarter because of the Trump tax cut

from the article linked to in the tweet:

“The nation’s six big Wall Street banks posted record, or near record, profits in the first quarter, and they can thank one person in particular: President Donald Trump.”


More negative reaction to the Republican tax cuts

The latest Gallup poll shows 39% approve of the tax cuts while 48% disapprove.  This Yahoo column cites three reasons:

“People think the tax cuts favor the wealthy over the middle and working class. They’re suspicious that tax cuts for businesses are permanent but tax cuts for individuals are temporary. And they think it’s irresponsible to finance the tax cuts with debt that future workers will have to shoulder.”


Update: “…tax cuts just don’t sell like they used to.”