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Donald Trump's new tax plan gives the top 1 percent an average cut of at least $122,400, while the middle class could get a break of less than $500, according to a new analysis. |
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Posted on 09/19/2016 12:08:44 PM PDT by E. Pluribus Unum
Donald Trump's new tax plan gives the top 1 percent an average cut of at least $122,400, while the middle class could get a break of less than $500, according to a new analysis.
The independent Tax Foundation said Monday that the Republican presidential candidate's plan, announced last week, would cut taxes for every income group. Yet the biggest reductions would go to the biggest earners.
According to the plan, the top 1 percent of taxpayers would see a 10.2 percent to 16 percent boost in their after-tax incomes from the plan, assuming a steady economy. The middle class, or those in the 40 percent to 60 percent quintile, would only see a 1.3 percent increase.
Using $1.2 million as the average income for the top 1 percent, members of this group would get an average tax cut between $122,400 and $192,000, according to the Tax Foundation. The middle-quintile taxpayers, who earn an average $38,000, would get a $494 break.
The next talking point against Trump.
I bet you that Hitlery’s probably would be no different in the long run.
I believe that all these tax plans have been gone over before and Trump’s was the most beneficial to NORMAL wage earners.
Does it deliver hundreds of billions of dollars directly to the government of Iran?
How is this a negative?
"Donald Trump's new tax plan gives the top 1 percent an average cut of at least $122,400, while the middle class could get a break of less than $500, according to a new analysis."
because my dad will get an keep an extra 122K you don't want your 500?
Get off your lazy arse make a billion or two and pay in millions a year and be a man.
And the people who pay absolutely nothing will not be helped as much, right?
Calling Captain Obvious...
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Donald Trump's new tax plan gives the top 1 percent an average cut of at least $122,400, while the middle class could get a break of less than $500, according to a new analysis. |
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By this logic, we should confiscate all income from anyone in the top 33% and hand it out to the bottom 66%. That will really get the economy going.
I’m not in that 1% but I like the plan.
Freeing up capital juices the economy and we desperately need economic growth. Economic growth raises revenues paid to the govt, ameliorating loss of revenue from tax rate cuts.
Remember, they aren’t tax cuts, they are tax rate cuts. There is a large difference.
Every tax reduction “helps” the people who pay the most tax dollars in terms of dollar amounts saved!!! This is common sense, but it’s all relative. What is the point here? “Helps” is subjective.
“The independent Tax Foundation said Monday that the Republican presidential candidate’s plan, announced last week, would cut taxes for every income group. Yet the biggest reductions would go to the biggest earners.”
Well Yeah! Robert, you’re a “Mensa!” The Era of the Robin Hood Government, is about to end!
“The independent Tax Foundation said Monday that the Republican presidential candidate’s plan, announced last week, would cut taxes for every income group. Yet the biggest reductions would go to the biggest earners.”
Well Yeah! Robert, you’re a “Mensa!” The Era of the Robin Hood Government, is about to end!
He who pays most, saves most. Why is that wrong?
You mean the 1% will have extra money to spend on stuff here and everyone else gets a tax cut too so that they can spend it here? Oh the horror. Simply Deplorable!
She asks me why I want Trump.
I keep it as simple as possible. I start with a generality: Any candidate that wants to let me keep more of the money I earn, gets my vote.
And then I explain, as she needs it: Right now, the Feds take $400 of every $1000 you earn.
With DJT, the Feds would only take $250 (give or take). and then I add more zeros.
I don't know that she's yet convinced, but that's ok. She's not registered to vote, and I certainly don't push it.
If my wife was left of center I would lose my mind.
“The middle-quintile taxpayers, who earn an average $38,000, would get a $494 break.”
Since those making 38k don’t pay taxes to start with, This is hitting their tax refund which they don’t deserve.
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