36% Don’t Know That Tax Cut Was Passed Last Year

One of the challenges policy makers face in assessing public opinion stems from the fact that most Americans don’t follow what happens in official Washington all that closely. New data from The Jobs Creators Network/ ScottRasmussen.com Weekly Pulse highlights this reality.

  • Just 64% of adults nationwide know that Congress passed a law last year that cut taxes for most Americans.
  • Only 61% know that the tax cuts for individual Americans are only temporary.
  • Overall, 67% recognize that the top tax rate paid by small business owners is higher than the tax rate paid by large corporations.

On some of these points, Republicans are more knowledgeable than Democrats. On others, it’s the Democrats who have a better understanding. Republicans are more likely to know that taxes were cut for most Americans. Democrats were more likely to know that small business owners are likely to pay a higher top tax rate than large corporations.

Overall, 60% of U.S. adults underestimate the size of the tax cut for individual Americans. An average family of four can expect a tax cut of $1,200 this year. More than a third of all voters (36%) believe the average tax savings will be $300 or less.

Only 16% correctly estimated that the size of the tax cut will be between $1,000 and $1,499.

Twenty-three percent (23%) overestimated the size of the tax cut (see question wording and crosstab results).

Democrats were more likely to underestimate the size of the tax cut than Republicans.

Other data from the survey shows that a plurality of Americans (35%) believe the best thing the government can do for the economy is to cut spending. Cutting taxes is number two on the list, favored by 25%. Additionally, 48% of adults rate their own finances as good or excellent. Fifty percent (50%) say the same about the overall economy.

This national survey of 1,000 Adults was conducted September 17-18, 2018 for ScottRasmussen.com by HarrisX, a leading research company specializing in online surveys (see Methodology) The Margin of Error is +/- 3.1 percentage points with a 95% level of confidence.

These results are consistent with other data showing that voters prefer a free market economy over a government managed economy by a 69% to 31% margin.

See the Job Creators Network release.

All data presented by ScottRasmussen.com is presented to enhance the public dialogue through data-driven analysis that explores the underlying currents of public opinion (read About Us). Receive the latest insights each day by signing up for Scott Rasmussen’s Morning Update

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Posted in Poll Results

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