The reality of the tax cuts that Donald Trump, in concert with the GOP at large, had framed as being intended to help salt-of-the-earth working Americans, appears to have set in.
Approximately three months after the passage of the GOP’s tax-cut law, new surveys suggest that many people don’t think they are getting bigger paychecks, which could cut into support for Republicans in this fall’s midterm elections. A CNBC/ALL-AMERICA poll shows that a mere 32 percent of those polled reported having more “take-home” pay.
Of the 32 percent who said they believe they are taking home more money: 38 percent say the extra pay they receive helps them a “great deal” or a “fair amount” while 40 percent said the pay helps either “some” or “just a little.”
Back in mid-February, a Politico–Morning Consult poll found that 37 percent of employed voters noticed more take-home pay, while 53 percent hadn’t.
The Treasury Department and IRS released new guidance that adjusted the amounts that companies set aside from their employees’ paychecks for federal taxes, and employers were instructed to adopt the new tables by February.
Could it be that American opinion will sway if in fact American workers notice marginally more pay? It just might. But there is a bigger picture here. In addition to working class perception of whether they’re “better off,” you can bet the Democrats will latch onto the major savings of the most elite class of Americans.
Then there is the dicey issue of Trump’s systemic defunding of the Affordable Care Act. Bringing home $20 extra a week becomes a false economy if one also lost health insurance this year.