Helene Olen, reporting for the Washington Post, quotes from a poll by CNBC's All America Economic Survey and by Hart Research Associates and Public Opinion Strategies.
Only a third of Americans have noticed more money in their paychecks from the $1.5 trillion Trump tax cuts. More than half -- 52% -- say they've seen no change at all. And a majority of those who have noticed extra funds say it "either helps a small amount or not at all."
An estimate by the Tax Policy Center figured that the average family would get about $18 per week extra. But of course some of that winds up going for higher medical insurance premiums.
In other words, much ado about not much -- at least for ordinary Americans. Now with wealthy Americans, it's a different story; but the polls didn't quantify their reactions. When you're dealing with the upper, uppers -- the top 1% and less -- statistics don't mean a lot unless you're looking at dollar amounts.
Is anybody who knows anything about finances and tax policy at all surprised? Of course not. This is exactly what was predicted. Trump and Mnuchin and Ryan and all the Republican tax cutters knew what they were doing.
It's part of the scam they've been running for decades. Give the tax cuts to the rich and watch it trickle down.
Except that it never does. I'm just gratified to know that people are beginning to notice it this far ahead of the November midterm elections.
Ralph
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