Quote:
Originally Posted by The_Waco_Kid
and you make this false claim over and over ...
IRS data proves Trump tax cuts benefited middle, working-class Americans most
|
Nope. Ya stepped on yer dick here, fell for a puff piece, got this totally wrong.
My claim is not false. You quote a news article that misrepresents "income percentage data" to obfuscate who is benefitting the most from the increased debt load. You also are not considering the whole package.
Just expanding the "pass through" deduction and increasing the threshold for the estate tax will account for about $1 Trillion, almost a third of the increase in debt. The top 1 percent make 70 percent of "pass through" income.
According to an analysis by the University of Chicago (and funded by the U.S. Treasury!), the richest 0.1 percent of taxpayers will see their incomes rise from this by more than $120,000 annually, on average.
The increase in threshold for estate taxes is equally skewed. It doubles to $30 Million for couples. Only about 0.1 percent of estates benefit from that. An additional $15 Million of their estate now goes UNTAXED. I doubt that this benefits anyone that is on this Board.
There is also a lower top marginal tax rate. Households in the Top 1 percent will see an after-tax increase in tax savings of about $45K.
Your "claim" just rests on the fact that there are a shit-load more poor people than rich people. And that their incomes are lower, so they get a bigger "percentage" of savings relative to their income.
So yeah, they get more overall, as a group. But the people really benefitting are the super rich. To the tune of $1 Trillion dollars. Distributed to a tiny segment of the population.
And you get to help pay for it!
Now...we haven't even
BEGUN to address the inequities in who is hurt most by Medicaid cuts, etc. We will all be paying for that too, not just the people who lose coverage.
The GOP is
lying to you about who benefits the most from this.
Just like they are lying about how much this is all going to cost.
But again....y'all fall for this over and over and over and over....
.