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Yet another Dem Deep State lie debunked.

Spamature

President
DEM>>>>Domestic Enemy Machine

IRS data proves Trump tax cuts benefited middle, working-class Americans most.


Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.



The Party should be banned, and its leaders exiled !
They were supposed to be repealing and replacing Obamacare. Instead, after 8yrs of lying about the ACA their solution was to just say F*ck it and pass a tax cut.

Now here you guys are trying to parse the fact that a set amount of money was to cut from the federal income tax burden, folded into the debt at interest and nothing of what was promised from the GOP over the last 8 yrs came to fruition.
 

EatTheRich

President
Can't read, once again, the top post was not about deficits, it was about who benefited from the tax cuts. on that score your so called calculations are meaningless

Sorry but I'll go with IRS professionals as opposed to someone who didn't even understand what the subject was.

Here it is.....


Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans' tax reform law, with the biggest beneficiaries being working and middle-income filers,
not the top 1 percent, as so many Democrats have argued.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent. (For more detailed data, see my table published here.)

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What's more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

T
he fact is, Republicans' 2017 tax reform law did exactly what was promised: It lowered taxes for all income groups, provided the greatest benefits for middle-income households, and spurred economic growth that helped reduce poverty and improve prosperity.
It’s not the IRS saying that. It is a right-wing opinion writer analyzing the data using a ridiculous metric for “who benefits most.”
 

Dawg

President
Supporting Member
You are truely a special kind of stupid when you don't even see how tax cuts effect the deficit. Par for the course.
So the leftist Congress tax cuts of 2021 will effect the deficit the same?

Start with SALT-----------go
 

Dawg

President
Supporting Member
Did I say anything at all about the "leftist Congress tax cuts of 2021"? No. Not a word.
Did I post you did and it's understandable why you Dodged the question, you know your leftist are cutting taxes for the wealthy
 

condorkristy

Mostly Liberal
DEM>>>>Domestic Enemy Machine

IRS data proves Trump tax cuts benefited middle, working-class Americans most.


Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

Income data published by the IRS clearly show that on average all income brackets benefited substantially from the Republicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.



The Party should be banned, and its leaders exiled !
So the guy you're quoting in an OP ED cites himself as a source to prop up his opinion piece.

Sorry but I'll go with IRS professionals as opposed to someone who didn't even understand what the subject was.
Who is the IRS professional you're referring to? The guy you're quoting is a self-published author with an MA degree.
 

Boca

Governor
It’s not the IRS saying that. It is a right-wing opinion writer analyzing the data using a ridiculous metric for “who benefits most.”
Income data "published by the IRS" clearly show that on "average" income brackets benefited substantially from the Rep"ublicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.

An average is a firm data point not a metric so what non ridiculous metric would you have chosen?
 

Boca

Governor
So the guy you're quoting in an OP ED cites himself as a source to prop up his opinion piece.



Who is the IRS professional you're referring to? The guy you're quoting is a self-published author with an MA degree.
IRS professionals provided the data which I assume is correct. The guy translated it for dummies who couldn't.
 

Boca

Governor
You are truely a special kind of stupid when you don't even see how tax cuts effect the deficit. Par for the course.
It's been fun triggering you but seeing that you've now reverted to the deficit side issue and avoided the Deep State establishment proven lie my work is done.
 

Dawg

President
Supporting Member
No @Dawg - I just won't play your thread derailment game.
So post on the topic instead of me or go to bed, pull the covers over your head and cry yourself to sleep.

It's IRS data and leftist are evidently saying the IRS lied, under Biden that's probably true.
 

EatTheRich

President
Income data "published by the IRS" clearly show that on "average" income brackets benefited substantially from the Rep"ublicans' tax reform law, with the biggest beneficiaries being working and middle-income filers, not the top 1 percent, as so many Democrats have argued.

An average is a firm data point not a metric so what non ridiculous metric would you have chosen?
Total savings, of course. Not percentage saved.
 

PNWest

America's BEST American: Impartial and Bipartisan
So post on the topic instead of me or go to bed, pull the covers over your head and cry yourself to sleep.

It's IRS data and leftist are evidently saying the IRS lied, under Biden that's probably true.
No @Dawg - I just won't play your thread derailment game.

So sorry you are incapable of understanding simple math.
 

condorkristy

Mostly Liberal
IRS professionals provided the data which I assume is correct. The guy translated it for dummies who couldn't.
Yeah...such as yourself.

If he quoted an IRS professional that would be one thing. But apparently, none of this self-published "books" could do that since, you know....he didn't quote them.
 
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