The early odds were on Donald Trump to make taxes a top issue in the midterms. It didn’t happen. Polls just show few people cared about big tax cuts for corporations. It actually became a liability as most members of the GOP decided to cut bait on this issue. Politico reports:
Republicans thought their massive tax overhaul would be the centerpiece of their midterm strategy. But it turns out they were so wrong they’ve been barely mentioning the $1.5 trillion tax cut on the campaign trail.
But Donald Trump just can’t give up. Over the weekend he flat out lied about a new tax cut that would magically be rolled out before election day. Of course, Fox ran the news, no questions asked.
— Fox News (@FoxNews) October 21, 2018
MSNBC’s Stephanie Ruhle tweeted, “CONGRESS IS NOT IN SESSION -@realDonaldTrump IS LYING.
And predictably the story has already changed. Marketwatch now says:
On Monday afternoon, Trump clarified that what was being considered was a legislative proposal — and he acknowledged that it would not be enacted until after the election. He said he was targeting a 10% reduction for middle-class taxpayers.
However real — on a scale of not particularly real to totally imaginary — the new Trump tax-cut idea represents recognition that the big tax overhaul hasn’t paid significant dividends for most Americans.
It’s now clear: Trump’s October Surprise will be a “promised” tax cut for the middle class RIGHT AFTER THE MIDTERMS — IF THE GOP HOLDS ONTO BOTH HOUSES.
Diabolically clever because he’s primed his base to believe whatever he says.
Dems can’t assume Nov 6 will bring victory!
— Laurence Tribe (@tribelaw) October 22, 2018
When we asked readers last week, it was clear that the majority of people who responded didn’t rank taxes as an issue. But some of you clearly would like to see a tax overhaul. Here is what a few readers told us on the topic:
Maggie Patton (Auburn Hills, MI) I would like to see a thorough review of the new tax plan, showing specific, real and authentic examples of how folks are impacted, especially the middle and lower classes. How is the deficit being affected due to this tax change? We’re folks (single and families) who aren’t in the top 5-10% of income earners given a fair shake or sold a bill of goods? What will the financial picture of the US look like in 4 years? 8 years?
Susan Gainoutdinov (La Mirada, CA) A tax plan that is fair for all not just some rich folk that get to write off their private jets.
Benjamin Klaver (Hickory, NC) Very concerned about the tax codes. The rich are getting richer. Corporations are stacking profits on top of profits. The middle class is going away.