Breaking: Tax bill cut taxes

Under an all caps Merry Christmas Glenn Reynolds alerts us to the Senate GOP tweet that embeds an interesting report from CBS News (below). In the spirit of the day, it carries tidings of good cheer.

CBS checked in with three families of varying means to ascertain the effect of the tax bill enacted last week. I was particularly interested in the impressions each of them had. A single mother making $40,000 with one kid observed: “It didn’t seem as they were going along that it would really affect someone like me.” The wife in a couple making $150,00 with no kids thought their taxes were going north. Turning to her husband, she said: “You thought we were going to have a higher tax bill.” The married couple with three kids making $300,000 in California also anticipated their taxes would increase.

So much for impressions. As it turns out, they were false. In each case, the CPA consulted by CBS found that federal income taxes would decrease in 2018. But where might taxpayers in the CBS report have come by their false impressions?

This is interesting.

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