Quote:
Originally Posted by Toyman at Jewel Lake
And? Trump gets a cut from 39.6% to 37% in his marginal tax rate. 2.6/39.6=a 6.5% cut in his total taxes (and this is highly simplified, looking only at the top, marginal rate). I get a bit over 20% of a reduction in mine. Many other people go from paying a tax to receiving more money than they put in (by definition, over a 100% reduction). Seems like this law is a give to the poor and middle class, while passing on a little to the top in terms of percentage.
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you do realize all the tax cuts for the rich are permanent, while the ones for the working or middle class are temporary and decline annually?
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