Remember when Trump made up a 10% middle class tax cut? He hasn’t said anything about it since the election. It was just another scam to dupe his base.
So far, it has helped the rich and hasn’t produced an investment boom
Who’s really benefiting from @realDonaldTrump tax cuts? Money committed by U.S. companies to stock #buybacks this year enough to give $5,600 to every U.S. payroll employee. #inequality #economicinequality #insidertrade #insidertrading #equities #stocks
— TrimTabs Research (@TrimTabsIR) October 23, 2018
Analysis: The Trump tax cuts were supposed to set off an investment boom. They aren’t so far. https://t.co/9nPYf7WUGo
— Washington Post (@washingtonpost) October 28, 2018
Looks like corporate tax cut (retroactive to sep/2017) produced a pop in structures investment in q4 & q1 that has now faded. Data is noisy, too early to know if it raised trend investment or just pulled forward future capex. All figures exclude mining, oil & gas. pic.twitter.com/yGRqGa2dAs
— Greg Ip (@greg_ip) October 26, 2018
Hey yall – the middle class already got a 10% tax cuts in the 2017 tax bill.
How about we find a way to pay for it now? I noticed the rich seem to be doing pretty well after the tax bill … we could start there. pic.twitter.com/aQFjmj0cbU
— Marc Goldwein (@MarcGoldwein) October 22, 2018
— Paul Krugman (@paulkrugman) October 22, 2018
"One number that stuck out: $204.7 billion. That’s how much corporations paid in taxes in fiscal year 2018. It’s striking because the figure is more than $90 billion less than the $297 billion corporations paid in taxes the previous fiscal year." https://t.co/IMa0jBEQTf
— Democratic Coalition (@TheDemCoalition) October 19, 2018
For those trying to claim that a tiny rise in overall revenue over the past year vindicates the tax cut, a comparison with the Obama years pic.twitter.com/81kWWxw2Ex
— Paul Krugman (@paulkrugman) October 18, 2018
— Paul Krugman (@paulkrugman) October 17, 2018
and there’s this:
Think what could be done with $180 billion
"The first is tax evasion by individuals, which is illegal.
The second is tax avoidance by huge multinational corporations, which — as long as the lawyers are doing their jobs — is perfectly legal" https://t.co/Y5C5bYlDJz by @Schwarz
— Charlotte Greensit (@cgreensit) October 26, 2018
He’s just making this crap up.
White House officials spent the day trying to decode what Trump meant because no one knew of any policy proposal related to his grand promise of upcoming tax cuts for the middle class https://t.co/uLgXoiPkO3
— POLITICO (@politico) October 22, 2018
Trump’s lies are so insidious because they are believed. There are likely millions of voters who wrongly believe a wall is being built. How many duped supporters are making awful financial decisions based on Trump lying about a middle class tax cut that literally doesn’t exist?
— Brian Klaas (@brianklaas) October 22, 2018
-There is no new legislative tax cut circulating on the Hill, 10% or otherwise.
-Sr GOPers in both chambers have no idea what POTUS is talking about.
-No time/will to pass anything in lame duck either.
-Don't even get me started on it being referred to as a "resolution"
— Phil Mattingly (@Phil_Mattingly) October 22, 2018
Asked about President Trump’s recent comments about a new tax cut proposal, Speaker Paul Ryan’s office is referring questions back to the White House
— Ashley Killough (@KilloughCNN) October 22, 2018
“He knows he’s lying. Everybody in Congress knows he’s lying. The reporters know he’s lying. So why is he doing it?” – @JoeNBC notes that Congress is not in session as @realDonaldTrump promises tax cut for the middle class ahead of the midterm elections.
— Democratic Coalition (@TheDemCoalition) October 22, 2018
Trump is loving this new line about a 'major middle class tax cut' ahead of November elections — even tho no one I have spoken to in WH, Hill, or among tax geeks knows what he is talking about…
— Nancy Cook (@nancook) October 22, 2018
Trump and Treasury Secretary Steven Mnuchin have been promising more tax cuts to get voters out for the midterms With Congress out of session, and given how last year's #TaxScam benefited billionaires and big businesses, it's a myth. #TellEveryVoter https://t.co/LvRx4wl961
— Swing Left (@swingleft) October 22, 2018
Yesterday Trump said he is "studying deeply" a "major tax cut for middle income people." When asked for a time frame for that, Trump predicted "sometime around the 1st of November, maybe a little before that."
One issue … Congress is not in session until after Election Day. pic.twitter.com/mIHLimOdBD
— Kasie DC (@KasieDC) October 21, 2018
Trump's advisers want Congress to "hold a symbolic vote promising a tax cut in the future."
— Heather Long (@byHeatherLong) October 23, 2018
Brady says he's working with Trump on new tax cut – POLITICO https://t.co/zTG8up1WrH
— Maggie Haberman (@maggieNYT) October 23, 2018
The public understands it primarily helps the wealthy. Republicans have not used it as much as planned on the campaign because they know it won’t help them.
Brutal numbers for the tax bill.
— Jesse Lee (@JesseCharlesLee) October 22, 2018
The "strategy" can be found in the polls.
Obamacare – 51%
2017 tax cut – 40%
Democrats – 50%
Republicans – 39%
Trump – 41%
Trump immigration – 39%
Trump foreign policy – 37%
Trump race relations – 33%
(Fox News poll, Aug 19-21)
— Terry Morse (@terrymorse) October 22, 2018
ICYMI: Internal RNC poll recently warned candidates that "most voters believe that the GOP wants to cut back on (Social Security and Medicare) in order to provide tax breaks for corporations and the wealthy." Urged them to counter it.https://t.co/puxEloOUvS
— Sahil Kapur (@sahilkapur) October 17, 2018
A recent Fox News poll found that 36% of likely voters said they've seen more money in their paycheck "as a result of the 2017 tax reform law," while 59% said they haven't.https://t.co/7CpXQ2XwMx
— Sahil Kapur (@sahilkapur) October 22, 2018
New poll from @DemocracyFund helps explain why Trump & Rs are sadly desperate for a do-over on taxes:
"Almost two-thirds of the general public, and one-third of those who voted for Donald Trump, believe that the middle class … will be worse off or the same under the tax cuts." https://t.co/PTFGERO7aW
— Seth Hanlon 🌊 vote.org (@SethHanlon) October 22, 2018
This is why Republicans have not been using it to get votes in the election – the public knows it helped their rich donors and not regular people.\