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Do you think that the Trump Tax plan will help the middle class?

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I have no idea



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1. Rick T CEOExpressSelect Member
     (11/27/2017 1:53:55 PM)
     Message ID #294300

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Senate GOP tax bill hurts the poor more than originally thought, CBO finds

"The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nationís poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office."

Democrats have repeatedly slammed the bill as a giveaway to the rich at the expense of the poor. In addition to lowering taxes for businesses and many individuals, the Senate bill also makes a major change to health insurance that the CBO projects would have a harsh impact on lower-income families.

By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, most people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to the CBOís calculations. (In the CBO table below, negative signs mean people in those income brackets pay less in taxes)."

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