Did you see the Democrats out there crying that the sky was falling? Yes led by Kamala Harris. “The average tax refund is down about $170 compared to last year. Let’s call the President’s tax cut what it is: a middle-class tax hike to line the pockets of already wealthy corporations and the 1%”. And Donald Trump Jr. was back at her. “Of course refunds are down. People are paying less in taxes and the code is simplified. A refund means you overpaid and got money back. When you pay less the refund will be less. Do you really not understand that”? Still looking for Kamala’s response.
It’s really very simple. People did not pay as much in taxes. If your tax burden is lower, why wouldn’t your return be smaller? Why is that so hard for some to figure out? To see if you truly didn’t benefit, add the weekly or bi weekly savings you got because of the tax cut. That added to your return will tell the true story.
How are Americans looking at the early returns?
It remains to be seen whether the tax season confusion shifts public opinion. Recent polling on the law from late January and early February, by CNN and the Economist/YouGov respectively, places approval for the law a bit above disapproval or about the same as dispproval. “That’s basically Trump approval right there,” said Liam Donovan, a former staffer for the National Republican Senatorial Committee and tax policy principal at the law and lobbying firm Bracewell, referring to the Economist/YouGov poll showing the tax law at a 41 percent approval rating among registered voters.
In closing, it’s obvious that your tax return will be smaller if you’re paying less. Senator Harris said she would provide a middle class tax cut. I say show me the money. What say you?
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I have been writing on and off the past 46 years. First piece I ever wrote was my high school underground newspaper. A father of two twenty somethings. Happily married and presently living in Ohio.