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Old 09-07-2024, 07:05 AM   #39
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Join Date: Jan 2024
Location: Mount Airy, MD
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Re: The Last 4 Years.

Quote:
Originally Posted by sdskinsfan2001 View Post
How is she going to accomplish this plan? And I use the words "her plan" fast and loose.

80% of Americans got a tax cut with the Trump tax cuts. If you don't agree with tax cuts at all, fine, but don't keep pumping the lie that only the rich benefited. A majority of American's got to keep more of their own money with his tax cuts.

https://www.washingtonpost.com/polit...umps-tax-cuts/

Because there are far more people in the middle class, there are fewer dollars to share per taxpayer when the savings from a tax cut are divvied up. The nonpartisan Joint Committee of Taxation estimates that 572,000 taxpayers will file returns with an income category of more than $1 million, compared with more than 27 million in the $50,000 to $75,000 category and almost 70 million in the under-$50,000 category.

If the wealthy end up with more money because they pay more in taxes, that’s not necessarily a fair way to look at tax legislation. The top 1 percent in 2014 earned 20 percent of adjusted gross income and paid nearly 40 percent of federal taxes, according to the Tax Foundation. The Tax Policy Center estimates that in 2018, the top 1 percent would get 20.5 percent of the tax cuts.

Moreover, when both the Joint Tax Committee and the Tax Policy Center looked at the impact of the tax bill, they concluded that in 2018, most people would see an overall reduction in taxes. The Tax Policy Center found that 80.4 percent of all taxpayers would have a tax cut, compared with about 5 percent experiencing a tax increase. In the middle quintile, 91 percent would get a tax cut, averaging about $1,090, with 7.3 percent facing a tax increase averaging about $910.
As the top 1% clearly benefitted far more than a $1,000 tax cut I stand on the positon that the top 1% had a much bigger tax cut than the average worker. Kamala is looking to change that and have the top 1% pay more and the average American pay less.

Last edited by Darrell Green Fan; 09-07-2024 at 08:26 AM.
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