Sunday, 18 August, 2019

Trump tax cuts: Many Americans say the tax cut didn't help them

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Russell Knight | 16 April, 2019, 05:22

A smattering of boos rose from the audience at a trucking company in the Minneapolis suburb of Burnsville after Trump said "today is Tax Day that we're celebrating".

President Donald Trump played up the benefits of his tax cuts on Monday's tax filing day in a state where he's aiming to turn a narrow defeat in the 2016 presidential race into a victory in his re-election bid next year.

Trump will appear at Nuss Truck & Equipment "to tout the success of the American economy under his pro-growth policies, including the implementation of the Tax Cuts and Jobs Act", according to a White House statement.

Every president since Richard Nixon has voluntarily release returns, but Trump, while he has said at various times that he would, hasn't.

Minnesota GOP Chair Jennifer Carnahan says the visit shows where the president's focus is.

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"Losing? People who thought that getting a tax cut would mean a bigger tax refund", Romans explained.

Further muddling the picture was the federal deduction for state and local taxes being capped at $10,000, which has mattered in high-tax states such as Minnesota, California and NY, among others. The tax law's backers said that slashing corporate rates would allow businesses to raise wages, increase bonuses and hire more workers. A $1.5 trillion tax cut ranks 12th as a share of the total economy, according to the Committee for a Responsible Federal Budget.

In October, a New York Times investigation found that for years Trump engaged in schemes created to avoid taxes - some of which might have been illegal - as he became wealthy from his father's real estate empire. But so far, the tax cuts haven't delivered a major shot of financial adrenaline to most families.

President Trump has repeatedly refused to hand over his tax returns, saying his legal team has advised him not to, claiming he us under audit, even though audits do not prohibit him from doing so. Walz and Klobuchar, who is running for president in 2020, are both Democrats; Trump is a Republican.

"This has been a very special state and we nearly won it", Trump said.

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