First test of tax cuts.

[Penelope]

Saccone, meanwhile, has been touting Trump’s signature legislative achievement as a boon for the middle class. “Tax cuts are changing lives,” says one of Saccone’s TV spots. But it remains to be seen whether the four-term state representative can persuade tax-cut skeptics such as Marran and Smith.

(Snip)

Pennsylvania’s 18th district is wealthier than the national average with median household income of $64,000 in 2016. An analysis by the left-leaning Tax Policy Center has concluded that the top fifth of U.S. earners will get a 2.2 percentage point tax cut from the legislation, compared to a 0.4 percentage point reduction among the poorest fifth.

(snip)

In a telephone interview, Saccone, the Republican candidate, said small business owners and voters he has met are pleased with the extra income.

(Snip)

Several western Pennsylvania voters who spoke to Reuters were enthusiastic. Jefferson Hills residents Steven Bronder, 59, and his wife have annual income of around $750,000. Bronder, an insurance agent, figures the couple will save an extra $45,000 a year under the new tax legislation.

“I’m really happy,” Bronder said. “That’s why I voted for Trump.”

Republicans face first test of tax cuts' power to sway voters

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Not everyone is thrilled with the tax cuts, Bronder who makes 750 grand a year, said that is why he voted for Trump, well I'm sure everyone in that tax bracket is. They won't notice the price increases of everything, or the taking away of social programs.

Face it , the tax cuts benefitted the wealthy. Soon people won't even know they got a slight cut in their taxes when they pay more for everything else.

 

[miketx]

Not knowing what she's talking about but saying it well.

 

[Silent Warrior]

I think what she is trying to say in her own inept style is those who pay more taxes are getting bigger tax cuts than those that pay less. Perhaps the proper response is Duh.

 

[Jomama]

Oh Good, deficit spending at the peak of an economic cycle. What could possibly go wrong?

 

[rshermn]

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Not everyone is thrilled with the tax cuts, Bronder who makes 750 grand a year, said that is why he voted for Trump, well I'm sure everyone in that tax bracket is. They won't notice the price increases of everything, or the taking away of social programs. .[/QUOTE].[/QUOTE]

Face it , the tax cuts benefitted the wealthy. Soon people won't even know they got a slight cut in their taxes when they pay more for everything else.


Take a look at economic history for a bit. Big tax cuts tend to have an effect based on who gets the cuts. Middle class and lower tax payers use their tax cuts right away. So their tax cuts tend to be stimulative to the economy. High end tax cuts tend to have very nearly no effect on the economy, cause these cats save their tax cuts. So said the CBO in analyzing the stimulus after the great recession of 2008,
Then there was Reagans tax cut of 1981. All the same sales points as for the current Trump tax cut. But the net was that employment went down in response to cuts in programs to stop the increases in the deficit, leading to the second deepest recession since the great depression, terminating in a 10.2 percent ue rate in late 1982. So, the reagan response was to spend like crazy (trippled the national debt, spent more than all presidents before him combined) with resultant stimulus that brought the economy out of recession.
So, we do not yet know what to expect of the trump experiment. Give it another year, and we should start to see how it worked