I can tell you where this will go. The working-class...I would put this as the folks who generally make $35k or less across the nation are the ones to benefit from this tax change.
But when you do this math...states like NY, California, and urbanized areas like Seattle, Atlanta and Miami....won’t see any relief. When you do the numbers in three years...those regions or states will see more money going into the national pot, and less coming back to their city, region, or state.
If you go and review this big fight going on in Spain with Catalonia...this is mostly about a productive part of the nation which contributes roughly 20-to-25 percent of the national budget but they have only around 11-percent of the population. They don’t see the revenue coming back to themselves in a fair way. This is triggering separation issues. In a way, Trump is planting this long-term issue of unfair taxation (up and down the lines) and unfairness in redistribution of taxable revenue.
If there was some big ‘cut’ going on and a quarter of the government’s spending was gone...people might see things different. So far, spending cuts have been somewhat marginal.
But, Trump is correct in helping the working-class Americans...more than the urban dwellers or the wealthy...they were the ones who voted for him.
I want everyone to get a tax cut.
I have no envy of folks who make a lot more money than I do.
If the plan is to free up money so that our economy will expand, then free up money across the board.
Giving tax cuts to one group and raising tsxes on others, nullifies the announced goal.
All it does is shift who is paying taxes. There will be no benefit to the economy.