Friday, December 22, 2017

Why Don’t Most Americans Realize They’re Getting Tax Cuts for Christmas?

By The Atlantic, Dec. 20, 2017

Have you ever come up with what you think is the perfect Christmas gift—a well-chosen, carefully considered present—only for the recipient to react not just with indifference, but with outright hostility? Donald Trump, Mitch McConnell, and Paul Ryan can sympathize.

Most Americans will save money under the tax bill that the Senate passed Tuesday night and the House passed Wednesday. The size of that benefit varies, but 80 percent of households will see some benefit in 2018. (The cuts shrink over time, eventually reduced to nothing for most people in 2027.) It’s not just that a plurality of respondents in a new NBC News/Wall Street Journal poll say the cuts are a bad idea (41-24, with 35 percent unsure or holding no opinion), or might have bad long-term effects. It’s that only 17 percent actually believe they’ll get a break. That result is in line with other polls that have shown similar skepticism about receiving any benefit.

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