Weekly Pulse: 72 Percent of Americans Think Cutting Taxes, Spending and Regs are Best for the Economy

Memo to Republicans: 36 percent don’t know you cut taxes

September 20, 2018

Washington, DC (September 20, 2018) – Nearly three-quarters of Americans think cutting taxes, spending and regulations is the best general approach for boosting the economy, while only 27 percent think the best way is to start new programs, increase spending, or impose more regulations on businesses, according to the Job Creators Network/ScottRasmussen.com Weekly Pulse, released today.

“The data suggests that Republicans have a pretty substantial advantage when it comes economic policy. At the moment, that isn’t reflected in the political polls,” said pollster Scott Rasmussen. “That suggests that many Americans are not focused on the economy, or that many simply don’t associate those policies with the Republican majority.”

Other data bolsters that point. On a true/false question asking whether Congress cut taxes for most Americans, only 64 percent say yes. More than a third of Americans say that’s false. Sixty-percent (60) of Americans underestimate how much the average family of four saves under the Tax Cuts and Jobs Act (based on figures provided by the House Ways and Means Committee). According to Ways and Means, the typical family of four saves almost $1,200 per year, or close to $12,000 over a decade. Forty-two percent (42) of Americans estimate the savings below $500, the Weekly Pulse found.

“There could be a lot of factors involved here,” said Job Creators Network Foundation President Elaine Parker. “Many, if not most, Americans have direct deposit, so they are not seeing their paychecks every week, or every two weeks. Half of all workers are hourly paid, and their schedules vary from week to week. The law has been in place for less than a year, and that could be another factor. Whatever the case, it’s clear that Republicans need to do a better job of educating their constituents on the benefits of the tax cuts.”

According to the survey, 50 percent of Americans rate the economy as excellent or good. That’s a slight drop from last week. Only 12 percent say the economy is poor. Thirty-eight percent of Americans see the economy getting better, while 24 percent say it’s getting worse.

“There’s not much fluctuation from last week in how Americans view the economy. They have a generally positive feeling that things are good right now,” said Rasmussen.

Below are the toplines. Crosstabs are available here.

1) How would you rate the U.S. economy today?
12% Excellent
38%  Good
34%  Fair
12%  Poor
4%  Not Sure

2) Is the economy getting better or worse?
38% Better
24%  Worse
33%  About the Same
5%  Not Sure

3) Okay, how would you rate you own personal finances these days?
11%  Excellent
37%  Good
33%  Fair
15%  Poor
4%  Not Sure

4) Are your personal finances getting better or worse?
29%  Better
16%  Worse
51%  About the Same
4%  Not Sure

5) Are companies in your area more likely to be hiring new workers or laying off existing workers?
45%  Hiring New Workers
16%  Laying Off Existing Workers
39%  Not Sure

6) Congress passed a law last year that cut taxes for most Americans – please indicate if you think the following statements are true or false:
64%  True
36%  False

7) The tax cuts for individual Americans passed by Congress last year are only temporary – please indicate if you think the following statements are true or false:
61%  True
39%  False

8) The top tax rate paid by small business owners is higher than the tax rate paid by large corporations – Please indicate if you think the following states are true or false?67%  True
33%  False

9) Because of the tax cut passed by Congress last year, how much did the average American family of four save in taxes this year?
23%  Less than $100
13%  $100 – $299
8%  $300 – $499
16%  $500 – $999
16%  $1,000 – $1,499
9%  $1,500 – $1,999
8%  $2,000 – $2,499
6%   $2,500 or more

10)  Which of the following government policies is the best for the economy?
25%  Cutting taxes
35%  Cutting government spending
12%  Reducing regulations on businesses
16%  Creating new government programs to meet specific needs
4%  Increasing government spending and deficits
7%  Creating new regulations on businesses

Click here to view this week’s entire Weekly Pulse. For more information about the Job Creators Network Foundation, please visit www.jcnf.org. For more information about ScottRasmussen.com, please visit www.scottrasmussen.com.