Top 1% benefiting most from tax cuts

Top 1% benefiting most from tax cuts

A Congressional Budget Office study found that middle class families are getting little benefit from the tax cuts passed in 2017. Incomes of the top 1% grew twice as fast as middle class incomes and tax rates declined most for the top taxpayers. Income inequality, already at 50-year highs, increased further. State tax structures are changing in Massachusetts and Illinois.

Josh
Josh
Politicians are Hacks
Politicians are Hacks 3 months

Fake news, this is the most successful the nation has been in decades. Lowest unemployment in decades, highest stocks in decades, greatest economical progress in years. People are wealthier and happier.

Scott in FLorida
Scott in FLorida 3 months

Where ever they got their numbers I do not buy it. Here in FL EVERONE and their GRANDMOTHER went full HAM on the christmas lights this year. Because they had extra money. People came to florida to visit family because they had extra money. IT was a HUGE difference from years past all the old people threw up lights like mad to welcome family it was stunning compared to years past.

Casey Ziniti
Casey Ziniti 3 months

Wages have been stagnant forever and now is no better people have jobs but they pay crap, people are not getting things to even out at a cost on health care and other needs and prices keep rising and wages go no where the trump tax cuts got average Americans nothing but a pittance only people making six figures got some payoff and the higher up the better

anthony
anthony 3 months

No Shit! Everybody knew this was a scam the day it was announced. This was part of Pinocchio's plan to cut tax revenue to Medicare/Medicaid and Social Security which the extreme right want to eventually defund. That is their wet dream. And most of these weasel executives used the tax cut savings to buyback their own stock which they put back into their own stock portfolios so they wouldn't have to declare it as a bonus or executive compensation. And unless you're in a labor union where you have bargaining rights and a chance at making a decent wage, the disparity of worker pay to executive pay is the highest it's ever been thanks to Pinocchio and all the misfits who rammed this pile of shit through Congress.

America
America 3 months

Seems like the news articles don't match the subject at hand. The only story posting about the headline is a left bias source. Looks like, dare I say, fake news.

jollyroger822
jollyroger822 3 months

I prefer Florida with no state tax

Critical Clown
Critical Clown 3 months

The top earners benefiting the most by having their incomes increase the most isn’t a surprise because a 1% tax rate cut on $10 million is much greater than a 5% tax rate cut on $100 thousand; $100,000>>$5000. To say “tax rates declined the most for top earners” is stupid because the rates were laid out in the bill and they clearly got the smallest tax rate cut.

DysfunctionalOrphan
DysfunctionalOrphan 3 months

they just need to pull themselves up by their bootstraps. theyre probably spending too much time with their family

Fin
Fin 3 months

Clueless... Gullible... N blinded by a trickle of silver

nick
nick 3 months

I’m not surprised at all. The tax cuts benefited who they were meant to benefit.

Lumpy
Lumpy 3 months

No $hit Sherlock, they paid more taxes, so they get the most benefit from tax cuts. In other news, the sky is blue.

AW1990
AW1990 3 months

from a Californian perspective, my state taxes rose proportionally to my decrease in federal taxes. I wonder if they factored that in...

Indo
Indo 3 months

Whats New about that. It has always been so. Anywhere n everywhere.

Minor_Complex
Minor_Complex 3 months

It's not far right to want to defund those programs you mentioned, people should keep their tax money and charity starts at home. If these weasel executives are making so much money on stocks why don't you buy some yourself? It's a great investment overall. You don't have to belong to a union to have bargaining rights. If you can't sell your time for a decent wage that sounds like a confidence problem rather than something for the government to step in.

J. C.
J. C. 3 months

low income blue collar workers are outpacing their high income white collar colleagues in wage gains. this is #fakenews

Rocky
Rocky 3 months

Absolutely untrue. The largest wage growth in America is in the lower wage industries. It's not even close. It has exploded since the tax cuts while ALL of wage classes have stayed the same or rose very slightly. I wish I could post images in my response on here. https://twitter.com/RamboWilliams5/status/1211856410662887426?s=19

Fin
Fin 3 months

Gee really...

Adam Marceau
Adam Marceau 3 months

new headline people who actually pay taxes keep more of their money in tax cut...

RJ of Cthulhu
RJ of Cthulhu 3 months

I personally have been effected when my company raised the company minimum wage, and I am making a much more reasonable amount thanks to the economy. Guess who I will be voting for.

Hannibal
Hannibal 3 months

Well considering the top 10% pay the vast majority of income taxes (two-thirds) it's a mathematical certainty that almost any tax cut would affect them the most. You can't give a tax break to people that don't pay.

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