Faster tax cuts could be backfiring on Republicans

[Yo_Mama_Been_Loggin]

When President Trump signed a large package of tax cuts into law in 2017, the Internal Revenue Service moved to make sure the savings showed up quickly in paychecks. Doing so probably lifted consumer spending last year, but it may have hurt Republicans politically, new polling suggests.

Administration officials, it appears, underestimated Americans’ love of tax refunds.

Nearly four in five people say they would rather overpay their federal income taxes and get a refund every spring — effectively making an interest-free loan to the government — than to underpay and owe money come tax season, according to a poll for The New York Times by the online research firm SurveyMonkey.

That preference appears to be influencing how Americans view Mr. Trump’s signature cuts: Among people who have already filed their tax returns, those who said they received a bigger refund this year are far more likely than others to approve of the law.

But many people are reporting that their tax refunds are smaller this tax season, or that they owe money. In addition to being more likely than other Americans to say they oppose the law, those people feel worse about the economy over all. They are also significantly more likely to disapprove of Mr. Trump’s performance in office.

https://www.msn.com/en-us/money/markets/faster-tax-cuts-could-be-backfiring-on-republicans/ar-BBV46Jl?li=BBnbfcN

[PoindexterOglethorpe]

1. "Americans' love of tax refunds" sums it up.

Personally, I'd rather owe some money, but a lot of people cannot save if their lives depended on it, hence over-withholding.

[ProudMNDemocrat]

2. Republicans talk a good con.....

But in reality, those that are not filthy stinking rich, will suffer for it in the long run.

Elect Democrats to reverse this disasters who occupies the White House and Congress.

[Wellstone ruled]

3. We are living in a 1929 time warp.

All of the 1928 legislation passed resembles what the Rethugs passed in 2016. So hang on,the Farm Economy is just about bust,Growing National Debt as a result of unbalance of Income Streams. Tariffs are killing our Industrial Base. Three for three.