More Americans think wealthy, not middle class, will benefit from tax reform - Reuters/Ipsos poll

[webfact]

More Americans think wealthy, not middle class, will benefit from tax reform - Reuters/Ipsos poll

By Ginger Gibson

 

(L-R) Senate Majority Leader Mitch McConnell, Sen. Orrin Hatch, Treasury Secretary Steve Mnuchin and Director of the National Economic Council Gary Cohn introduce the Republican tax reform plan at the U.S. Capitol in Washington, U.S., November 9, 2017. REUTERS/Aaron P. Bernstein

 

WASHINGTON (Reuters) - Americans are more likely to believe the wealthy will benefit most from the tax reform currently being pushed in the U.S. Congress by Republicans who insist their goal is to help the middle class, according to a Reuters/Ipsos opinion poll released on Thursday.

 

The poll found 32 percent of Americans think the wealthy will benefit most, compared to 14 percent who think all Americans will benefit and 14 percent who think large U.S. corporations will benefit most.

 

Congress is working to try to enact the most sweeping overhaul of the tax code since the 1980s that would lower taxes for millions of individual tax payers and slash the rate paid by corporations. The proposal would also eliminate most individual tax deductions, a move that could result in some taxpayers seeing an increase in their total bill to the government while others see a decrease.

 

Despite an insistence by Republicans that their goal is help the middle class, only 8 percent of Americans think that demographic will benefit the most, the poll, which was conducted Nov. 3-8, found.

 

Republicans and Democrats are divided on who they think tax reform would help the most. Among Republicans, 26 percent think all Americans will benefit, followed by 16 percent who think the wealthy will benefit most, the poll found.

 

But among Democrats, 46 percent think that wealthy will benefit most, with only 7 percent thinking all Americans will benefit and 17 percent who think corporations will benefit.

 

And while those polled did not think that the middle class will benefit most, an overwhelming majority thought that they should.

The poll found 79 percent think its more important to cut taxes for the middle class than for corporations, and 76 percent think its more important to cut taxes for the poor than for corporations.

 

However, 76 percent said it was more important to cut taxes for corporations than it was to cut taxes for the wealthy.

 

When it comes to specific changes, the poll found that 46 percent of Americans oppose limiting the mortgage interest deduction, compared to 35 percent who support the change.

 

The strongest opposition came to the Republican proposal to eliminate deductions for medical expenses, with 54 percent saying they are against the change and 32 percent saying they support it.

 

The Reuters/Ipsos poll was conducted in early November online in English throughout the United States. It gathered responses from 1,608 adults and has a credibility interval, a measure of accuracy, of 3 percentage points.

 

-- © Copyright Reuters 2017-11-10

[pattayadon]

Ah, yes, the die-hard Trump supporters..... "Trump's going to lower my taxes"......  555555!  If you believe that, I've got a xxxxxxxxxx...555!

[IAMHERE]

Who is writing this new Tax Laws?  I'm betting it is the rich and others in the upper ten percent of wage earners or wealth accumulators.

 

 

[ilostmypassword]

Just now, IAMHERE said:

Who is writing this new Tax Laws?  I'm betting it is the rich and others in the upper ten percent of wage earners or wealth accumulators.

 

 

First off, it's the Republicans. Second, it's more like the .01%

[IAMHERE]

Just now, ilostmypassword said:

First off, it's the Republicans. Second, it's more like the .01%

Democrats are having their input, I am sure of this. I am OK with giving the .01% credit here.

[ilostmypassword]

Just now, IAMHERE said:

Democrats are having their input, I am sure of this. I am OK with giving the .01% credit here.

You are sure of it? Really? That's why the Republicans have kept their plans a secret until now? That's why democrats are virtually all opposed to it? You've got faith against all the evidence. Your opinion isn't political, it's religious.

[hawker9000]

Californians, with their over-priced homes, huge mortgages, and high taxes, aren't going to love it much; that's for sure.   Hehe    Suck it up blue-staters.

 

 

 

 

[ilostmypassword]

3 minutes ago, hawker9000 said:

Californians, with their over-priced homes, huge mortgages, and high taxes, aren't going to love it much; that's for sure.   Hehe    Suck it up blue-staters.

 

 

 

 

Given your political opinions, i'm not surprised you're a fantasist. I've got some unhappy news for you: the tax bill isn't law yet and the odds of it passing don't look good. The recent election results have terrified Republicans and made its passage more unlikely.

[nycjoe]

I have been calling my congressman daily to repeal the estate tax and the alternative minimum tax. Not.  Big payday for the tangerine orangutan President. 

[lannarebirth]

20 minutes ago, hawker9000 said:

Californians, with their over-priced homes, huge mortgages, and high taxes, aren't going to love it much; that's for sure.   Hehe    Suck it up blue-staters.

 

 

 

 

You wish your property taxes were capped at 1% of value and capped at 2% increase per year. I know I do.

[Thaidream]

The Democrats had no input into the writing of this bill- because if they did it would not resemble a gift to the wealthy.  Trump and his Republican cabal have touted this bill as reform of the tax code and providing economic relief to the middle class. Utter BS. 

 

The tax bill eliminates the State and Local Tax Deduction critical for those who reside in high tax states; in addition- the elimination of the medical deduction places an untold burden on people who have lost their medical insurance because they can't afford the premiums. In addition- the bill eliminates the estate tax which will do nothing for the economy and everything for people like Trump and his wealthy friends. As far as the middle class- some people will see their tax bill decline by about $1000 per year.  Whoopee!  A whole $2,74 to enjoy the purchase of another cup of coffee or a newspaper while the average tax relief for the wealthy will be in the high 5 figures. In addition some people in the middle class and below will actually see a tax increase if this bill passes.

 

Trump and the Republicans believe in the reverse Robin Hood syndrome- they steal from the poor and give to the rich.

[Berkshire]

32 minutes ago, Thaidream said:

The Democrats had no input into the writing of this bill- because if they did it would not resemble a gift to the wealthy.  Trump and his Republican cabal have touted this bill as reform of the tax code and providing economic relief to the middle class. Utter BS. 

 

The tax bill eliminates the State and Local Tax Deduction critical for those who reside in high tax states; in addition- the elimination of the medical deduction places an untold burden on people who have lost their medical insurance because they can't afford the premiums. In addition- the bill eliminates the estate tax which will do nothing for the economy and everything for people like Trump and his wealthy friends. As far as the middle class- some people will see their tax bill decline by about $1000 per year.  Whoopee!  A whole $2,74 to enjoy the purchase of another cup of coffee or a newspaper while the average tax relief for the wealthy will be in the high 5 figures. In addition some people in the middle class and below will actually see a tax increase if this bill passes.

 

Trump and the Republicans believe in the reverse Robin Hood syndrome- they steal from the poor and give to the rich.

Yeap, rich individuals/families will benefit the most...along with corporations.  What I don't get is corporations right now are making record profits and the stock market is at record highs.  So these loonie Republicans want corporations to make even more money?  Unemployment is already low.  If corporations aren't creating higher paying jobs and boosting pay when they're making record profits, how is making them even more profitable going to change anything?  Well, it would certainly boost the benefits package for the top executives....who'll pay less taxes on them.  Whoopee! 

[Rancid]

Well, hardly a phenomenon unique to the US. Any country that reforms the tax code has the legislation prepared by the wealthy that finance the election campaigns, so hardly surprising its designed to make them richer and the rest of us poorer.

 

Feudalism is making a glorious comeback, they just hope we are all too dumbed down and obsessed with celebrities and social media to notice. They are probably right.

[IAMHERE]

5 hours ago, ilostmypassword said:

You are sure of it? Really? That's why the Republicans have kept their plans a secret until now? That's why democrats are virtually all opposed to it? You've got faith against all the evidence. Your opinion isn't political, it's religious.

We will see when the final tax bill is voted on. If all the Democrats vote 'No', then I'll concede that the Democrats get nothing in return. I remember how many Democrats (majority of them) got onboard the Reagan tax cuts boat back in the early 1980s.

[Dumbastheycome]

To  objectors..... The   trump   mentality   need   be  recognized ! 

Of   course  the   wealthy  will  be  at  an advantage!

The  solution  is  simple .

Get  wealthy !

Like  trump.

?

Really?

Maybe.

No?

Ok.

Pay  a  good  dodgy  accountant to  bs  the  IRS.

 

 

 

 

 

555

 

 

 

 

 

 

[gk10002000]

Most Americans, and by most I mean over 50 % have little financial acumen.  Most Americans do not even do their own taxes but have others do them for them.

[Dumbastheycome]

7 minutes ago, gk10002000 said:

Most Americans, and by most I mean over 50 % have little financial acumen.  Most Americans do not even do their own taxes but have others do them for them.

Only   financial  acumen?

[boomerangutang]

This is Reagan's 'Trickle Down Theory' on steroids. The concept is:  if the rich keep getting richer, they're going to naturally raise wages and increase hiring Americans.  Some of that may happen, but 98% of the trickle down will be socked away in off-shore accounts, steamship-sized yachts, private jets, and highest-priced call girls (a yellow 'trickle down' in Moscow perchance?).

 

Forget upper ten percent, try upper 1/10th of 1 %.  

 

It didn't work with Reagan (he started out lowering taxes, but was then compelled to raise them to higher than when he started).   Same with 'Read my Lips' Bush Sr.  He also ran on lowering taxes, but wound up raising them.  Republicans can always be relied upon to :  shaft the lower income in order to make the super rich cushy, while lying constantly (on their yellow-stained mattresses?).

 

BTW, the poll in the OP is misleading.  It dilutes the % of people who are opposed to Trump's give-away to the rich.  (32 think it will benefit wealthy + 17 who think it will benefit corporations).  Both categories are rich, so it should instead read:  49% think it will benefit the wealthy (not just 32%, as stated in the OP).

[boomerangutang]

That photo of the 4 old rich white men (in the OP) who are intent on shafting the USA ......is scary.

 

It inspires as much confidence as a dentist who comes to the chair with a jackhammer.

[Berkshire]

It's pretty darn clear why the Republican Congress wants to do this and it has nothing to do with helping the American middle class.  It's about deep-pocketed donors....

 

[A House Republican is stating the political necessity for Republicans to deliver tax overhaul legislation this year.

New York Rep. Chris Collins said Tuesday, "My donors are basically saying 'get it done or don't ever call me again."]

 

https://www.cnbc.com/2017/11/07/ny-rep-collins-says-donors-told-him-to-get-tax-reform-done-or-dont-ever-call-again.html

 

[Stargeezr]

Hey it is the USA and some one has to pay the Government, the Military, NASA, the ISS, and keep the rich people  happy

Geezer

[selftaopath]

17 hours ago, Thaidream said:

The Democrats had no input into the writing of this bill- because if they did it would not resemble a gift to the wealthy.  Trump and his Republican cabal have touted this bill as reform of the tax code and providing economic relief to the middle class. Utter BS. 

 

The tax bill eliminates the State and Local Tax Deduction critical for those who reside in high tax states; in addition- the elimination of the medical deduction places an untold burden on people who have lost their medical insurance because they can't afford the premiums. In addition- the bill eliminates the estate tax which will do nothing for the economy and everything for people like Trump and his wealthy friends. As far as the middle class- some people will see their tax bill decline by about $1000 per year.  Whoopee!  A whole $2,74 to enjoy the purchase of another cup of coffee or a newspaper while the average tax relief for the wealthy will be in the high 5 figures. In addition some people in the middle class and below will actually see a tax increase if this bill passes.

 

Trump and the Republicans believe in the reverse Robin Hood syndrome- they steal from the poor and give to the rich.

45 and his regime want to payback corporations and wealthy donors so they continue receiving "donations" to their personal re-elections. LOL Is this bribery? lol I think it is.

[selftaopath]

18 hours ago, Berkshire said:

Yeap, rich individuals/families will benefit the most...along with corporations.  What I don't get is corporations right now are making record profits and the stock market is at record highs.  So these loonie Republicans want corporations to make even more money?  Unemployment is already low.  If corporations aren't creating higher paying jobs and boosting pay when they're making record profits, how is making them even more profitable going to change anything?  Well, it would certainly boost the benefits package for the top executives....who'll pay less taxes on them.  Whoopee! 

 

[selftaopath]

12 hours ago, boomerangutang said:

This is Reagan's 'Trickle Down Theory' on steroids. The concept is:  if the rich keep getting richer, they're going to naturally raise wages and increase hiring Americans.  Some of that may happen, but 98% of the trickle down will be socked away in off-shore accounts, steamship-sized yachts, private jets, and highest-priced call girls (a yellow 'trickle down' in Moscow perchance?).

 

Forget upper ten percent, try upper 1/10th of 1 %.  

 

It didn't work with Reagan (he started out lowering taxes, but was then compelled to raise them to higher than when he started).   Same with 'Read my Lips' Bush Sr.  He also ran on lowering taxes, but wound up raising them.  Republicans can always be relied upon to :  shaft the lower income in order to make the super rich cushy, while lying constantly (on their yellow-stained mattresses?).

 

BTW, the poll in the OP is misleading.  It dilutes the % of people who are opposed to Trump's give-away to the rich.  (32 think it will benefit wealthy + 17 who think it will benefit corporations).  Both categories are rich, so it should instead read:  49% think it will benefit the wealthy (not just 32%, as stated in the OP).

 

[connda]

Well, yeahhhh.