4 Sep 2022 10:58 am
WRONG, DICKHEAD! Trump's tax cuts helped the middle class and working poor far more than the rich, but EVERYONE prospered, as proven by the economic boom that Trump led. You've shown what a gullible moron you are to believe the lies of the liberal media once again:Pastafarian » 04 Sep 2022, 10:24 am » wrote: ↑ You left out over ten years.
Tax cuts have favored the rich, you liar. And soon it will be even worse.
IRS data proves Trump tax cuts benefited middle, working-class Americans most
The Hill 12/4/21
Congressional Dems have argued that the best way to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform passed by Reps and signed by former Pres. Trump. The latest data proves that this claim is pure mythology.
Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.
A careful analysis of the IRS tax data shows that filers with an adjusted gross income of $15K to $50K enjoyed an average tax cut of 16% to 26% in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect.
Filers who earned $50K to $100K received a tax break of about 15% to 17%, and those earning $100K to $500K in adjusted gross income saw their personal income taxes cut by around 11% to 13%.
By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9%, and the average tax cut for brackets starting at $1 million was less than 6%.