Only 18% of Americans surveyed said they paid fewer taxes under president Donald Trump’s tax cuts. In fact, a majority said their 2018 tax bill was about the same or higher compared to 2017.
While the tax cuts may have spurred some economic growth, everyday working Americans said they have not been helped by the new law. Thirty-two percent said their federal taxes were higher under the Trump tax law, while fourteen percent said they were not sure whether they paid more or less, according to a report by The Hill.
Trump’s tax law delivered $1.5 trillion in cuts to businesses and individuals but the poll highlights that most Americans don’t believe they benefited under the changes. The survey’s finding that 18 percent of voters believe their taxes went down is similar to a March poll from NBC News and The Wall Street Journal which found that only 17 percent of adults contacted believed their federal liability had declined in 2018.
These experiences could impact Trump’s reelection chances. While it’s likely Americans had less coming out of their checks, therefore got a smaller refund, many cannot visualize that in the face of rising costs of goods and services coupled with stagnant wages. According to estimates compiled by the Tax Policy Center, the law will cut individual taxes for two-thirds of households, 65 percent, while raising individual income taxes for only 6 percent of households.
“I think it’s really interesting that Republicans were less supportive of this bill than you might have expected. They certainly were less supportive when it was going through Congress and when it was signed. And I think even today, you’re still seeing that this was kind of a nothing burger for the Republican party,” Vanessa Williamson, a senior fellow at the Tax Policy Center, told “What America’s Thinking” host Jamal Simmons.
Another reason why many taxpayers likely didn’t experience a tax break was that roughly 90% only got a reduction in their tax burden by 2%. “The reality is for most people, the tax bill doesn’t make much of a difference. Some people will have seen quite a small tax cut but it will have been folded into their paychecks so it’s no surprise that people aren’t completely clear on what happened,” Williamson, added.
While slicing the corporate tax rate was great for creating more jobs, Americans would have preferred to see a lot more than 2% put back in the paychecks. If Trump can pass a sizeable tax decrease for working Americans, he will all but seal his fate as a two-term president.
Well it is Republicans fault. They had the presidency and both houses of congress. They should have gone to a flat tax, national sales tax, or the fair tax.
They did not want to because they cannot have a simple tax system. That would allow Americans to know when there taxes were being raised.
They are all in it together. The tax system will never truly have change because of debt, politicians wanting reelection, and politicians power over us by using the tax system.
As for my taxes it felt like I gained money in my paycheck but had to give it back at the end of the year.
Who in the hell designs a system that penalizes hard work. The harder you work the more money you make. But then the more you make the more you take. If nothing else overtime or a second job should be tax free. If you really wanted an economy to take off then do that. But truth is they don’t want that. They don’t want us having power. Well so be it. It will all crash eventually..
They just don’t want it to crash on there watch.
Mike, I also like the “Flat Tax” idea. Related to folks perception of paying less Federal Income Tax – remember that half the country pays NO FEDERAL INCOME TAX. Add to that that many Demonrats will not acknowledge any gain due to this President. On top of that most folks don’t pay close attention to taxes in general. I do pay attention and moved to another state that doesn’t tax my pension (I pay NO state income tax) but I’m not leaving my country.
I don’t owe anything to a mint, nor to the 51% of voters.
There there, now.
I am getting pissed off about the “no health insurance” tax. That was supposed to be gone in 2017. Then 2018, then I still just paid it.
When in the hell is it going to be gone?
I believe the penalty is only imposed for 2017 & 2018. It supposedly expired on Jan. 1, 2019.
In short, people are upset because they didn’t loan the government enough during the year interest-free, didn’t really take note of the slightly increased amount they brought home on a weekly/monthly… whatever basis and then did not get the tax refund as they’ve grown used to like some sort of demented savings account bearing no interest yielding a return of money that was their’s in the first place… like I said. All a matter of believing falsely in the government to do what we each should be doing for ourselves. The entire scam of mandatory withholding is flat wrong to begin with. In the end, only corporations who figure their own taxes and pay according to the due dates – and only then – experienced any real sense of tax savings. The rest of America? Just went a little less without their money for the year and got less back because of it.
That is exactly right. Their refund is smaller because they didn’t get as much withheld and the idiots are pissed. This stupidity is where the Dims get their power.
It’s not just withholdings. It’s the fact that there is a 10k limit on SALT ( state and local taxes). Also the married couple standard deduction went to 24k so more people don’t itemize. People with a lot of kids got screwed. People without pass thru businesses are actually paying almost the same if not more taxes. I like the plan. I’m 12k ahead overall. Without the pass thru I would be -7K. In short if you don’t have pass thru income you are screwed. Senator Corker got bought off this way. He owns a lot of income property. Corker the deficit hawk suddenly was ok with blowing up the deficit. And yes, the deficit is something working people will have to deal with one way or another.
This year was the biggest tax increase in the history of my 40 years of paying taxes
they made it impossible for 50 million people mainly middle class families by raising std deduction and eliminating your exemptions
They destroyed people that could itemize or those with above average homes
Tax Deductions gone examples are your sacred home loan interest your home equity loan interest your state taxes your charitable deductions your home office. It goes on and on and on
My exemptions and itemized amount averaged 38,000 off my AGI for 28 years. New law screwed me to just 24000 in deductions. So i paid tax at a higher rate in an additional $1400.
Use to get 3000 to 4000 back after filing, now i pay in 1700.
And my gone for good refunds was spent in my local economy boosting local commerce. Cities and retailers will be getting hit huge due to no tax returns for the first time in decades Huge layoffs too, due to no one having spare cash this spring to spend like they’re used to
Dark days are ahead.Open your eyes sheeple.
The wealthy made out like bandits once again
Those with million dollar homes can still itemize their deductions. Including the president and most of the people in the Senate
imagine that
It’s time to take the torches to DC and start all over
Restore the social contract to WASP’s?
I paid $350 less this year than in 2017 on basically the same income. I triple checked my numbers, because it was a significant drop. I guess I’m one of the land rich, cash poor.
Once one concedes the notion that government is entitled to any portion your income, it is then just a matter of how much of your own money they will allow you to keep. So, are we supposed to feel that even a small tax break is somehow a bad thing? Hell, give it all back! It’s ours, anyway, not theirs, but here they have the us squabbling among ourselves when what we should be doing is looking for our pitchforks, tar and feathers.
Most Americans Say They HAVE NOT Experienced Any Changes Under Trump.
Status quo prevails as the entire North American continent is tuned into a swap.
Under Trump I have received two COLAS They where a pittance. However under 8 years of Obummer we did not receive any COLAS.
That’s because there wasn’t a lot of inflation. And there were colas. Not a fan, it Obama didn’t have a thing to do with their. Talk to the fed. The fed did the twist and the fed pumped money into the system.
Paid less, made more than last year. MAGA!
I paid about $50 more in taxes but my agi was $10000 more
Clearly the other 82% can’t count
Most Americans have no clue if they paid more or less tax, or even how to figure that out. What they know is if their refund was larger or smaller this year.
Take your Federal tax paid for last year and this year and divide it by the adjusted gross income for that year, that will give you a decimal that will be a rough tax rate.
Example:
$5000 paid in Federal tax divided by $50,000 adjusted gross income = .10 (10% tax rate). Now this year $4000 paid in tax divided by $50,000 = .08 (8% tax rate). That will give you an idea if your taxes went up or down, you refund will not.
Now that does not include your Social Security tax, your Medicare tax, or your state or local taxes. Keep that in mind when politicians talk about a 10% flat tax rate, that would only be for Federal, and for a lot of people that will be a tax INCREASE!
If only we could go to the 75% tax the demcrats want, then there would be no reason for anyone to be unhappy.
Sure, we could go to a 100% tax rate and then their would be no reason to file taxes! We could all wait for our electronic credits on our prepaid Visa card and EBT card. The government could take care of us from cradle to grave and all it would take is our incentive to work, our pride, our privacy, any money we might ever earn, inherit or even find on the sidewalk. (sarc)
78k – $120/month more take home – $200 less payout on return. Ppl are stupid. They think getting less payout at return is more tax. Stoopid!