“68% say they paid the same taxes or more”

Shocker … or just fuzzy math?
For the record, I’m for tax cuts since the Feds waste so much of OUR money … but, as I’ve posted previously, I would have done them differently than DJT did.

And, I predicted that most American’s wouldn’t recognize the benefits of the tax cuts because (1) they don’t understand basic economics (e.g. the corporate cuts boosted the economy) … and hopelessly confuse ‘taxes paid’ with ‘refunds received’.

Still, I’m surprised when I see shock-intending headlines like this one.


Let’s dig a little deeper into that claim…


The Hill summarizes the findings:

About two-thirds of Americans, 68%, say they paid the same  or more in taxes for 2018 than the previous year, while less than a quarter said they paid less, according to a new Hill-HarrisX survey.


Let’s look at the math.

Roughly half of Americans didn’t pay any income taxes prior to the Trump tax cuts … and didn’t pay any income taxes after the cuts.

So, let’s focus on the other half.

The Hill says that roughly 25% say they paid less.

That 25% has to come out of the half who paid taxes before.

In other words, half of tax payers say that they paid less in taxes …

What about the other half of taxpayers?

The survey found that “the more money individuals made, the more they tended to believe they paid in federal taxes”.

About 20% of tax payers thought that they paid more in taxes; about 30% thought they paid the same.

Putting it all together:

About 80% of tax payers think that their taxes either stayed the same or went down.

Way different than the broadly reported headlines, right?


Follow on Twitter @KenHoma

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