In its last year, the bill raises taxes on more than 53 percent of Americans.
By Dylan Matthews / Dec 18, 2017, 4:01pm EST
By 2027, more than half of all Americans — 53 percent — would pay more in taxes under the tax bill agreed to by House and Senate Republicans, a new analysis by the Tax Policy Center finds. That year, 82.8 percent of the bill’s benefit would go to the top 1 percent, up from 62.1 under the Senate bill.
And even in the first years of the bill's implementation, when it’s an across-the-board tax cut, the benefits of the law would be heavily concentrated among the upper-middle and upper-class Americans, with nearly two-thirds of the benefit going to the richest fifth of Americans in 2018.
The controversial, last-minute tax provision that personally benefits Donald Trump, explained
Republicans keep saying their tax bill helps job creators. This kickback to real estate investors does the opposite.
By Tara Golshan / Dec 18, 2017, 5:20pm EST
Controversy has grown over a last-minute addition to Republicans’ tax bill that gives real estate owners like President Donald Trump — and perhaps Sen. Bob Corker (R-TN), who suddenly came around to supporting the bill on Friday — a major tax break.
The provision essentially extends a new tax break for “pass-through” businesses, like partnerships and LLCs, to real estate investors — personally benefiting some lawmakers and exacerbating the already favorable rates for the wealthy in the bill.
The new provision that has caught everyone’s eye as a handout to people like Trump essentially reintroduces a tax break for wealthy investors who aren’t creating jobs — a kickback that would primarily benefit real estate investors.
...Trump will personally gain from this tax bill.
Top Republicans are already talking about cutting Medicare and Social Security next
The idea of cutting popular programs in an election year has vulnerable Republicans asking, why not infrastructure?
By Tara Golshan / Dec 18, 2017, 1:20pm EST
(This is another ass-wipe that deserves a pie in the face!)
Click on any headline to read the article.
Okay, I need to take a deep breath; I get very upset about this country's social inequities and when I post this stuff I'm sure I'm preaching to the choir, mostly. (There's always one twitter-ass-lover who clicks the "crap" button. It's his right to do so.)
WHEN ARE THE DUMB-ASSES THAT VOTED FOR THIS BUNCH OF GREEDY, SELFISH BASTARDS GOING TO WAKE UP AND SMELL THE COFFEE AND SEE WHAT THEY'VE DONE TO THE COUNTRY AND THEMSELVES?
I don't know that his supporters ever will wake up... Well, maybe when they discover they're paying higher taxes and have no medical coverage of any kind.
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