Published: Fri, April 19, 2019
Money | By Ethel Goodwin

Trump Visits Truck Dealer in Minnesota to Tout Tax Cuts

Trump Visits Truck Dealer in Minnesota to Tout Tax Cuts

"In conjunction with Tax Day, the Job Creators Network (JCN) commissioned polling in order to find out what real tax professionals think about the impacts of the Tax Cuts and Jobs Act (TCJA)-chiefly how it's affected their small business clients", the group said.

"Take a look at the numbers", Kudlow said Monday at the White House. It's a policy achievement that won't resonate with everyone in Minnesota, where the loss of the state tax deduction hurt some taxpayers.

More evidence of this "came from a report by tax preparer H&R Block on Thursday" that said, "Americans are undergoing a "confusing tax experience" this season" because tax liability fell 24.9 percent for taxpayers but refunds were "roughly flat at just 1.4 percent".

The late filing penalty can be ten times higher than the late-payment penalty. "Tax day. And we are getting historic tax relief, that's the good part".

"Winning? Well, most USA taxpayers", she said.

"Doesn't bother me, not at all", said Don Tomann of Buffalo, who owns a manufacturing plant and went to show his support. How I would have benefited from that when I most needed it!

Nuss (right) tells Trump how excited his employees were when they learned of the president's planned visit.

"I think Nuss Trucking and Equipment is a flawless example of a company that has a great stake in the economy, not only in Minnesota, but also our country, and they have seen positive steps forward because of the tax cuts", said Jennifer Carnahan, chairperson of the Republican Party of Minnesota.

The Tax Policy Center estimates that about 65 percent of households got a tax break on their 2018 incomes - but taxpayers aren't seeing it that way. A Reuters/Ipsos poll in March found that 21% thought their taxes were lowered.

The $1.5 trillion, 10-year package of tax cuts Trump signed into law in 2017 helped accelerate economic growth in 2018 to a rate of 3 percent, based on the administration's preferred measure of comparing the fourth quarter of 2018 to the same period in 2017.

The tax cuts didn't provide Republicans the boost they had hoped for in the November midterm elections when the Democrats took control of the House.

Further muddling the picture is that the federal deduction for state and local taxes was capped at $10,000, which matters in high-tax states such as Minnesota, California and NY, among others.

This #TaxDay2019 remember even if you paid just a dollar in income tax in 2019, you paid MORE in taxes than Amazon who made a record profit of $11 BILLION this year. He said those benefits will become more apparent over the next few years.

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