Sam Stein: Very Strong Likelihood over Time the Popularity of the Tax Cut Bill Will Grow

‘I do think there’s a very strong likelihood that over time the popularity of this thing will grow as people see more money in their paychecks or take home pay’

EXCERPT:

GEIST: "Sam, it’s criticized obviously the tax plan as being, you know, leaning toward corporate interest and toward rich people. But it is true that some middle class people will see more money in their bank account and they may get more popular over time as that happens."
STEIN: "Yeah. I don't think -- I mean, criticize is probably the wrong way, because factually, it is --"
GEIST: "Right, right."
STEIN: "-- toward corporations and the wealthy. There is middle class elements to it as well. And I do think there’s a very strong likelihood that over time the popularity of this thing will grow as people see more money in their paychecks or take home pay. And certainly if AT&T comes out and does all these things — I will note AT&T also announced that it's firing 1,000 workers too. So there’s a double edged sword here. My question though is, it feels -- and I don’t -- I don't know this stuff like you do, but it just -- it feels so artificial in a way, right? Like a lot of the Dow’s gains were based, it seems, on expectations that tax reform would pass. And now that it’s passed, I guess because there’s going to be greater corporate earnings, there might be more gains in the Dow. But at some point there has to be something fundamental and structural this is based on. And I’m having trouble wrapping my head around what that is."

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