Today on Varney & Co., Andy breaks down the numbers behind a misleading CBS News Poll that says only 35% of Americans approve of the GOP tax plan. However, 41% of the people polled incorrectly thought their taxes were going up, when in fact it’s projected that 8-12% of wealthy Americans will see a tax increase. Also, 69% of those polled thought the bill would benefit rich people – which it doesn’t. A lot of misconception has been driven by the Democrats to make the bill sound like something it’s not, Andy argues. Working and middle class Americans will see more money back in their pockets.
Lastly, the Council of Economic Advisers projected the U.S. economy would have experienced 3.9% GDP growth in the third-quarter of 2017 if it weren’t for a pair of devastating hurricanes, Maria and Harvey, but even that did little to slow the economy. Andy concludes that the passing of the GOP tax bill will help lift GDP to 4% in 2018.
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