Sunday, September 29, 2024

Tax Cut Country

The people like tax cuts:
The survey, conducted by Public Opinion Strategies on behalf of Stand Together, shows that 76% of voters, an overwhelming majority, say now is a bad time to increase taxes, and only 5% say it is a good time. The other 18% said it was neither a good time nor a bad time. The Tax Foundation has estimated that if the TCJA expires next year, a single parent with one child making $30,000 per year will pay more than $1,000 more in taxes annually. A family of four making $75,000 is estimated to face a tax increase of more than $1,500. Former President Donald Trump signed the TCJA, often called the Trump tax cuts, into law in 2017, and it is set to expire at the end of 2025. During the debate between the Republican nominee and Kamala Harris, the vice president claimed they were "tax cuts for billionaires." To date, Harris has not answered the question if she would let them expire. The survey of 1,000 likely voters was conducted nationally Sept. 5-9 and has a margin of error of plus or minus 3.53 percentage points in 95 out of 100 cases. This sentiment on tax increases was broad and bipartisan, with 89% of Republicans, 74% of independents, and 65% of Democrats all saying that now is a bad time to raise taxes.
Unfortunately it's not shared by the powers that be...

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