Saturday, September 30, 2017

SURPRISE! TAX POLICY CENTER SAYS MIDDLE CLASS WILL PAY MORE TAX NOT LESS, AND THE 1% WIN BIGLY

So that's Israel, the deep state/shadow government, and now the 1% sorted.

The top 1 percent would be the biggest winners under Republicans' plans to rewrite the tax code, according to a new analysis, while some moderate-income people would face tax increases.

Though the administration says the wealthy would not see their taxes go down under the proposal, the Tax Policy Center said Friday that they would actually reap the biggest cuts — about half of all the tax benefits in the GOP plan. In 2018, the wealthiest 1 percent would take home a $129,000 tax cut, the group found, boosting their after-tax incomes by 8.5 percent.

Most other people would see their taxes decline as well, albeit not by nearly so much. Those in the center of the income spectrum would see a $660 tax cut, the group said, which translates into a 1.2 percent increase in after-tax income.

By 2027, about 30 percent of those earning between $50,000 and $150,000 and 60 percent of those taking home between $150,000 and $300,000, would pay more under the Republican plan.

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