IRS data prove Trump tax cuts benefited middle, working-class Americans most

[BigSerg]

https://twitter.com/thehill/status/1467121785850183681?t=hSxRLQJzINF4_ZOFHz1Wgw&...

[Mr. Reactionary]

Well duh they doubled the standard deduction which most people take. Only rich people or people who give 20%+ of their income to charity itemize.

[Absentee Voting Ghost of Ruin]

https://twitter.com/GoshenBLB/status/1467122352219693058

FIFY,. YW!

[GregTheGreat657]

Well this simply proves the Democrats wrong, when they said the average middle-class family would pay $794 more in taxes than they did under the Obama tax plan

[BoiseBoy]

Well this simply proves the Democrats wrong, when they said the average middle-class family would pay $794 more in taxes than they did under the Obama tax plan

Opinions don't prove anything wrong.

[OSR stands with Israel]

https://thehill.com/opinion/finance/584190-irs-data-prove-trump-tax-cuts-benefited-middle-working-class-americans-most

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans’ Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent. (For more detailed data, see my table published here.)

The democrats were always being super super misleading cause they always used the raw dollar amount figure to say this was a tax cut for the rich and not the %

[GregTheGreat657]

Well this simply proves the Democrats wrong, when they said the average middle-class family would pay $794 more in taxes than they did under the Obama tax plan

Opinions don't prove anything wrong.

They were acting like it was true

[certified hummus supporter 🇵🇸🤝🇺🇸🤝🇺🇦]

Interesting, let's see what the data shows when 2025 rolls here.

https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/#personal-taxes

Also LOL

Justin Haskins... is director of the Socialism Research Center at The Heartland Institute and the co-author, with Glenn Beck, of the forthcoming book “The Great Reset: Joe Biden and the Rise of 21st Century Fascism.”

[PSOL]

Bunk study is bunk

[OSR stands with Israel]

Interesting, let's see what the data shows when 2025 rolls here.

https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/#personal-taxes

Also LOL

Justin Haskins (Jhaskins@heartland.org) is director of the Socialism Research Center at The Heartland Institute and the co-author, with Glenn Beck, of the forthcoming book “The Great Reset: Joe Biden and the Rise of 21st Century Fascism.”

Actually look at the excerpt I quoted. It actually gave numbers

[certified hummus supporter 🇵🇸🤝🇺🇸🤝🇺🇦]

Interesting, let's see what the data shows when 2025 rolls here.

https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/#personal-taxes

Also LOL

Justin Haskins (Jhaskins@heartland.org) is director of the Socialism Research Center at The Heartland Institute and the co-author, with Glenn Beck, of the forthcoming book “The Great Reset: Joe Biden and the Rise of 21st Century Fascism.”

Actually look at the excerpt I quoted. It actually gave numbers

I did. Hence why I said the results were interesting.

[OSR stands with Israel]

Well duh they doubled the standard deduction which most people take. Only rich people or people who give 20%+ of their income to charity itemize.

Dont forget the QBI deduction

[Amenhotep Bakari-Sellers]

No it didn't the gal between rich and poor has grown steadily worse why do you think there are Labor Shortages people don't want to work for peanuts

Big SERG probably isn't poor does he even know what's it's like being poor or is he from a middle class family apparently he's from a middle class family


If Trump tax cuts helped why was Biden elected INCOME INEQUALITY

[Benjamin Frank]

https://twitter.com/Cling2Reality/status/1094238949411823622

[Shaula🏳️‍⚧️]

I still think Bannon's plan which raised taxes on the rich was best, but it is true that the tax cuts weren't as bad as democrats made it out to be.

[Kahane's Grave Is A Gender-Neutral Bathroom]

Interesting, let's see what the data shows when 2025 rolls here.

https://www.investopedia.com/taxes/trumps-tax-reform-plan-explained/#personal-taxes

Also LOL

Justin Haskins (Jhaskins@heartland.org) is director of the Socialism Research Center at The Heartland Institute and the co-author, with Glenn Beck, of the forthcoming book “The Great Reset: Joe Biden and the Rise of 21st Century Fascism.”

Actually look at the excerpt I quoted. It actually gave numbers

Yeah, but it still makes me question it.

It's also interesting in that people on welfare pay 0% in taxes while we are here arguing on who benefited the most from the tax cuts (it is rich people, actually. The bill had all sorts of things hidden in that allows easier deductions if you itemize)