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Trump Tax Plan Gives 47% Of Cuts To Richest 1%, New Analysis Finds
According to the nonpartisan Urban-Brookings Tax Policy Center, Trump’s latest proposals would cut taxes by $6.2 trillion over the next decade, with 47% of all cuts in 2017 going to the top 1%.
The tax cuts that Trump is now proposing are smaller than the $9.5 trillion in cuts he floated last year, but are also more tilted in favor of the wealthy.
Under Trump’s new plan, every income group would still get tax cuts, but upper income households would receive the most relief, not only in dollars, but as a percentage of income.
Trump Tax Plan Gives 47% Of Cuts To Richest 1%, New Analysis Finds
According to the nonpartisan Urban-Brookings Tax Policy Center, Trump’s latest proposals would cut taxes by $6.2 trillion over the next decade, with 47% of all cuts in 2017 going to the top 1%.
The tax cuts that Trump is now proposing are smaller than the $9.5 trillion in cuts he floated last year, but are also more tilted in favor of the wealthy.
Under Trump’s new plan, every income group would still get tax cuts, but upper income households would receive the most relief, not only in dollars, but as a percentage of income.
Trump Tax Plan Gives 47% Of Cuts To Richest 1%, New Analysis Finds