19 May 2024 4:59 pm
The question was specific to Corporate tax cuts and went along nicely with the chart Rog posted about who owns the largest percentage of stocks as a percentage of net worth.Zeets2 » 19 May 2024, 9:28 am » wrote: ↑ Of course they did, the lowest level of taxpayers got the most relief from Trump's tax cuts, and a significant percentage of higher level taxpayers got a tax increase just like I did! My taxes went up by over $10,000 as a result of those cuts, but I'm adult enough to understand that the new policies were much more fair to everyone in every state.
BUT, if you still think otherwise and don't appreciate how the Trump tax cuts helped give us the booming economy we enjoyed under Trump, you will have the option of voting for Biden in November, since he's promised to eliminate those tax cuts if he wins the election.
So I'd confirm your information on precisely who were helped the most before entering the voting booth, keeping in mind that almost HALF of the country pays no federal tax already, so THEY CANNOT POSSIBLY BENEFIT FROM A TAX CUT!
Any amount that THEY will get from any new Biden proposal is called WELFARE and IS NOT a "tax cut"!
Read the reality here:https://budget.house.gov/press-release/ ... g-families
Here are the facts that prove your belief wrong:
If you think Biden's promise to eliminate the Trump tax cuts if he wins, here are just a few of the immediate results:
You should acknowledge and confirm these facts for yourself before you vote in the election, because you know how Biden will lie in his campaign and tell you that the Trump tax cuts ONLY helped the rich! And the left-wing media will swear by those lies, GUARANTEED!!!
I can definitely agree the tax cuts helped a lot of people, the doubling of the standard deduction was a Huge driver, 2% of not much is exactly that, not much. When it comes to the individual brackets, the higher income groups get the break from multiple brackets, not just two. I know the SALT deduction caught a lot of people off guard and ended up raising their taxes that first year. I was watching closely at the time and was making changes to where our money was going to make up the difference for those lost deductions over the cap. I'm guessing a person with your means figured it out shortly after that first year.
Back to the Corporate Tax Cuts. Try not to blow chunks when you see the source
. Take the time to read through, it is book marked to sources used in the article. REPORT APR 30, 2024The Tax Cuts and Jobs Act Failed To Deliver Promised Benefits
Benefits of the business tax changes in Trump’s 2017 tax bill were costly and did not trickle down to workers and families.APR 30, 2024
https://www.americanprogress.org/articl ... %20workers.
I believe it's quite clear where the largest portion of the corporate tax cuts went and it wasn't down steam.