
What the US Tax Bill Would Look Like for 25,000 Middle-Class Families - uptown
https://www.nytimes.com/interactive/2017/11/28/upshot/what-the-tax-bill-would-look-like-for-25000-middle-class-families.html
======
hiram112
But I thought the Trump tax plan was going screw the _middle class_.

From just a glance at the chart, though:

1\. More are receiving a tax cut than a tax increase.

2\. Those receiving an actual increase are highly concentrated near the $0
amount, which means the increase is minimal.

3\. The tax cuts definitely begin phasing out as income goes up (about $80K),
which is exactly what a true, progressive, middle class tax cut would show.

So if this can get rid of a lot of loopholes and complexity, I'm not seeing
why liberals are throwing such a fit, at least on the portion related to the
middle class. Those parts of the plan that may or may not (we'll see) end up
being massive give-aways to the 1% and wealthier are a whole different topic.

~~~
mrguyorama
1\. The chart represents the impact in 2018; the situation looks considerably
different in 2027, after many provisions of the bill are set to expire.

2\. The Congressional Budget Office estimates that under congressional
budgetary rules, the tax plan would force deep cuts to Medicare spending over
the next decade.

3\. Many households most affected by the loss of the state and local tax
deduction live in coastal states such as New York, California and Connecticut.
Those states have high tax rates; they also tend to vote for Democrats

4\. Executives and other top earners would probably get the biggest boost.)
And people who own stocks or have other business investments would see a
direct benefit from corporate tax cuts

>Those parts of the plan that may or may not (we'll see) end up being massive
give-aways to the 1% and wealthier are a whole different topic.

That's the _whole point_ isn't it?

Basically what it comes down to is this: I'd save $1500 on taxes next year.
Big whoop. Meanwhile, we'd gut medicare, further increase the national debt
while having a president who doesn't seem to understand that you can't just
default on it and be fine, corporations would see huge tax reductions and top
earners would see most of the benefit, and the "little guy" continues to be
fed patronizingly small improvements in their life and society. The entire
point of this bill is to hugely benefit the wealthy by giving the less better
off tiny improvements to make it palatable

