The 2017 tax cuts benefited about 66% of all Americans by reducing the money they're required to pay to the Federal government.
But a new survey from Bloomberg shows only about 20% of taxpayers actually believe their taxes have gone down.
The tax cuts also increased the deficit, making it difficult for President Trump to use them as a talking point to promote his campaign in 2020.
Democrats convinced tax payers that only wealthy people benefited from these tax cuts. But that's just not true. Most of the people seeing an increase in their tax home pay are middle class people from red states.
Dan Eberhart, a major Republican donor said: “The Democrats really outmaneuvered the Republicans by convincing the American people that the main thrust of the tax reform package was to cut taxes for the wealthy. Republicans failed to fully explain the success to voters.”
He has a point - if tax payers don't know they're benefiting, and if the defecit went up, how do we convince people the tax cuts were good?
Similarly, if people don't know they benefited from tax cuts, how do we stop Democrats from raising taxes again?
As Senator Rand Paul pointed out after the 2017 bill passed, tax cuts only solve half the problem. The other side of the Federal government's reckless grip on our economy involves never-ending spending by lawmakers.
The tax cuts were sold as a catalyst for economic growth and reduction of the deficit. Senate Majority Leader Mitch McConnell assured the public in December 2017 that the measure would contain the deficit and also be a "revenue producer". Larry Kudlow said last week at the tax cut package has "already paid for itself " - a statement that does not gel with government data.
Instead, the United States' budget shortfall grew by 17% to $779 billion in 2018, which the CBO has attributed partly to the tax law. Along with additional spending that has been signed into law, the CBO projects this deficit will surpass $1 trillion by 2020.
However, when the law passed, Mitch McConnell said: "If we can’t sell this to the American people, we ought to go into another line of work."
Remember, folks, taxation is theft. You may not like Trump, and that's your prerogative, but wouldn't you rather support a political party lets you keep your money rather than one who shames you for having a retirement account?
WASHINGTON, DC - APRIL 15: The Internal Revenue Service (IRS) building stands on April 15, 2019 in Washington, DC. April 15 is the deadline in the United States for residents to file their income tax returns. (Photo by Zach Gibson/Getty Images)