Mikeoxenormous
Diamond Member
Trump tax cuts would give the poor $40 each, ultrarich $940,000
Since the poor doesn't pay into the federal income tax, for them to get 0.3 still gives them a pay raise. The rich who pay over 50% of the federal tax burden and over millions of dollars a year, to get some of that money back, will not only enable the economic engine to rev up, but also give the Feds more in tax revenue, because the rich spend more, while the poor doesn't. At one time I was a $40 tax guy, but since then I will be one of those that get a break from paying outrageous taxes, so others can sit on their liberal asses, and continue to vote for the very people stealing my money.Including the tax hikes, the overall plan would give the average family earning under $25,000 per year a $40 tax cut, or a 0.3 percent boost in after-tax income. The top 0.1 percent, earning above $3.4 million a year, would get an average tax cut of $937,700, or a 13.3 percent boost in after-tax income.