Vox: The Republican tax law is becoming less popular, not more

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Vox: The Republican tax law is becoming less popular, not more

It’s been six months since the GOP passed their tax scam, and in that time, the bill has only gotten less popular—as it becomes clearer every day that it was just a giveaway to the wealthiest 1%, corporations, and Wall Street.

As of this week, a new poll shows that just 34% of Americans approve of the bill, compared to 40% who said they approved of it in April.

Get more numbers below, and take a moment to show your support for Sherrod, who fights like hell every day for hardworking Americans.

Vox: The Republican tax law is becoming less popular, not more

Emily Stewart – June 22, 2018

Key points:

  • It’s been six months since President Donald Trump signed into law the Republican tax cuts. During that time, the measure appears to have become less popular.

  • According to a Monmouth University poll released this week, just 34% of Americans said they approve of the Republican tax reform package, compared to 41% who disapprove. That’s down from April, when 40% of Americans said they approved of the law and 44% did not.

  • The law is designed to benefit corporations and the richest Americans most. It reduced the corporate tax rate from 35% to 21%, and the top 1% of individual earners are expected to receive about 80% of the legislation’s gains.

  • While ordinary Americans may not be feeling the law in their lives, corporate America and Wall Street certainly are: Corporate stock buybacks are booming this year, thanks in part to the tax cuts. Companies such as Apple, Cisco, Pepsi, Wells Fargo, and Harley-Davidson have announced major stock repurchase plans this year.

  • And that’s not always translating into a positive impact on their workers: Wells Fargo has been laying off workers, for example, and Harley-Davidson is closing its Kansas City plant.

Read more here.