[whell]

Originally Posted by Chicks

The Great Republican Tax Cut Backfire

https://www.yahoo.com/news/great-rep...130919145.html

In a sublime case of poetic justice, the so-called Tax Cut and Jobs Act is backfiring on the Republicans big time. Most voters are unimpressed, and Republicans themselves are ceasing to emphasize it in their campaign material.

In the March 13 special election for the Pennsylvania’s 18th Congressional District, where Democrat Conor Lamb narrowly beat Republican Rick Saccone, Republicans actually pulled ads that bragged about the tax act, because their polls showed that it was more of a target than an achievement.

Republican strategists who wanted President Donald Trump to emphasize the tax cut this spring were initially annoyed that he was talking about trade, immigration and Korea instead. Now they realize that Trump may be onto something.

Even better, Democrats are sensing that the tax issue can be turned against the Republicans in the 2018 and 2020 elections. This outcome is the result of Republican overreach, opportunism, and sheer greed.

Previous Republican tax cuts, under Ronald Reagan, and George W. Bush, were also tilted to the top, but made sure to include some real benefits for regular people. But this bill was so heavily skewed to the wealthy that most people won’t see any benefits at all in their paychecks.

Oh, right. Folks aren't seeing the effects at all. Here's where your op-ed meets my op-ed. I'm sure you'll hate it, though, and simply dismiss it without reading it, since one of the authors is none other than Art Laffer.

https://www.wsj.com/articles/so-long...ork-1524611900

Since 2007 Texas and Florida (with no income tax) have gained 1.4 million and 850,000 residents, respectively, from other states. California and New York have jointly lost more than 2.2 million residents. Our analysis of IRS data on tax returns shows that in the past three years alone, Texas and Florida have gained a net $50 billion in income and purchasing power from other states, while California and New York have surrendered a net $23 billion.

Now that the SALT subsidy is gone, how bad will it get for high-tax blue states? Very bad. We estimate, based on the historical relationship between tax rates and migration patterns, that both California and New York will lose on net about 800,000 residents over the next three years—roughly twice the number that left from 2014-16. Our calculations suggest that Connecticut, New Jersey and Minnesota combined will hemorrhage another roughly 500,000 people in the same period.

Just a note, I did read your Mother Jones sourced rant disguised as an op-ed. It was good for a laugh, seeing the same talking points recycled yet again.