New IRS data proves Trump tax cuts benefitted middle, working class Americans most

[jomar]

Maybe you can link to it.

It's a ProPublica article from August 2021, titled: Secret IRS Files Reveal How Much The Ultrawealthy Gained By Shaping Trump's "Big Beautiful Tax Cut".

I cant believe anyone who actually follows politics hasn't already read it.

It completely destroys BabyBooBoo's bullshit narrative.

*Informed nod*

Thankee

 

[JohnnySavage]

Funny how the Pubs claim to be the fiscal conservatives, yet they always run up more debt when they hold the WH, while Dem administrations reduce it.

The debt hasn't been reduced since the early 50s

 

[jomar]

From the article:

Proponents touted it as boosting “small business” and “Main Street,” and it’s true that many small businesses got a modest tax break. But a recent study by Treasury economists found that the top 1% of Americans by income have reaped nearly 60% of the billions in tax savings created by the provision. And most of that amount went to the top 0.1%. That’s because even though there are many small pass-through businesses, most of the pass-through profits in the country flow to the wealthy owners of a limited group of large companies.

 

[BabyBoomer50s]

.
Look at BabyBooBoo moving goal posts.

The claim was that the traitor in chief's tax cuts for the rich benefitted the middle and working classes the "MOST".

Womp Womp Womp.....

Another epic fail by an ignorant Deplorable.

JFC

SAD!!!

Middle income working class tax payers saw the greatest benefits as a percentage of their taxes cut. You are struggling to understand that.

 

[GothTalk]

From the article:

Proponents touted it as boosting “small business” and “Main Street,” and it’s true that many small businesses got a modest tax break. But a recent study by Treasury economists found that the top 1% of Americans by income have reaped nearly 60% of the billions in tax savings created by the provision. And most of that amount went to the top 0.1%. That’s because even though there are many small pass-through businesses, most of the pass-through profits in the country flow to the wealthy owners of a limited group of large companies.

But... BUTT!!!! THE 1%!!!!!

 

[BabyBoomer50s]

The debt hasn't been reduced since the early 50s

They would rather not address the facts presented in the article. Instead, they want to change the subject and talk about deficits. Pretty clear they’re unaware of the trillions in new spending that’s been legislated over the past two years, or the CBO estimated deficit impact in the reconciliation bill they currently want passed.

 

[GothTalk]

Middle income working class tax payers saw the greatest benefits as a percentage of their taxes cut. You are struggling to understand that.

They're all going to ignore the metric, it doesn't fit their "BUT THE 1%!!!!" narrative so they're going to just prtend that matric doesn't exist..... until it's convenient for them to use it again of course.

 

[jomar]

Middle income working class tax payers saw the greatest benefits as a percentage of their taxes cut. ...

That's great. As has been said, let's keep it permanent like it is for companies.

But... BUTT!!!! THE 1%!!!!!

*shrugs*

Different angle, yes. But that's what the study found.

 

[GothTalk]

That's great. As has been said, let's keep it permanent like it is for companies.



*shrugs*

Different angle, yes. But that's what the study found.

A TDS angle to ignore reality that Trump was economically better to the working/middle class than any POTUS in living memory and keep screaming "ORANGE MAN BAD!!!" ....no wonder he upset (D)'eez so badly.

I'm shocked it didn't come with a 'See this is WHITE SUPREMACY!!!" spin on it.

 

[BabyBoomer50s]

That's great. As has been said, let's keep it permanent like it is for companies.
.

I agree.

 

[pecksniff]

A TDS angle to ignore reality that Trump was economically better to the working/middle class . . .

Obama's doing, and you won't find any economist who says different.

 

[Sean Renaud]

The debt hasn't been reduced since the early 50s

This is true but misleading. Until Reagan cut taxes the debt in relationship to the GDP had been falling steadily and was again starting to trend down under Clinton. If I make more money and my debt remains steady it become less and less of a burden every time I move up the scale.

Hell for a minute under Bush economists were trying to figure out what we, a debt based economy, would do if we eliminated the national debt. Nobody actually knows what would happen.

So I very specifically did not call you a liar, nor did I say you intentionally misrepresentd the facts. I do not believe either of these things to be true. You are not Vetteman or BoBo, Ck, Goth where I should assume you are full of shit and work backwards from there.

 

[JohnnySavage]

This is true but misleading. Until Reagan cut taxes the debt in relationship to the GDP had been falling steadily and was again starting to trend down under Clinton. If I make more money and my debt remains steady it become less and less of a burden every time I move up the scale.

Hell for a minute under Bush economists were trying to figure out what we, a debt based economy, would do if we eliminated the national debt. Nobody actually knows what would happen.

So I very specifically did not call you a liar, nor did I say you intentionally misrepresentd the facts. I do not believe either of these things to be true. You are not Vetteman or BoBo, Ck, Goth where I should assume you are full of shit and work backwards from there.

Maybe you should read the post i responded to. Once you've done that, I'll accept your apology.

 

[jomar]

A TDS angle to ignore reality that Trump was economically better to the working/middle class than any POTUS in living memory and keep screaming "ORANGE MAN BAD!!!" ....no wonder he upset (D)'eez so badly.

I'm shocked it didn't come with a 'See this is WHITE SUPREMACY!!!" spin on it.

You do go on!

You got a hammer and everything’s a nail!

 

[phrodeau]

You do go on!

You got a hammer and everything’s a nail!

He’s got a sickle, too.

 

[WillJ8787]

Almost 8 trillion in new debt.

/thread.

Yep and.my taxes(Federal) went up many thousands under Trump.

 

[GothTalk]

Obama's doing, and you won't find any economist who says different.

Not at all, I don't care what RAW/Salon "economist" say.

You do go on!

You got a hammer and everything’s a nail!

I'm right though!!

He’s got a sickle, too.

Nah, I have advanced machinery because I don't live in a socialist shit hole.

Yep and.my taxes(Federal) went up many thousands under Trump.

Good, bout time you started paying SOME of your fair share.

 

[Lazaran]

.
Anyone who reads the ProPublica article can judge for themselves who benefited the "MOST" from the traitor in chief's and the republican's tax cuts for the rich.

The fact that the national debt skyrocketed by 8 trillion in four years is just a cup of piss to go with the shit cake that the American middle and working class were served when the traitor in chief's and republican's tax cuts for the rich was signed into law.

Directly relating to this ^, Paul Krugman wrote an informative article in the Times titled: "Krugman Wonks Out: Why Trump's Signature Policy Was Such A Flop".

This ^ should also be required reading.

*Informed nod*

 

[pecksniff]

.
Anyone who reads the ProPublica article can judge for themselves who benefited the "MOST" from the traitor in chief's and the republican's tax cuts for the rich.

The fact that the national debt skyrocketed by 8 trillion in four years is just a cup of piss to go with the shit cake that the American middle and working class were served when the traitor in chief's and republican's tax cuts for the rich was signed into law.

Directly relating to this ^, Paul Krugman wrote an informative article in the Times titled: "Krugman Wonks Out: Why Trump's Signature Policy Was Such A Flop".

This ^ should also be required reading.

*Informed nod*

The Times -- is it paywalled?

 

[contrifan32]

.
Anyone who reads the ProPublica article can judge for themselves who benefited the "MOST" from the traitor in chief's and the republican's tax cuts for the rich.

The fact that the national debt skyrocketed by 8 trillion in four years is just a cup of piss to go with the shit cake that the American middle and working class were served when the traitor in chief's and republican's tax cuts for the rich was signed into law.

Directly relating to this ^, Paul Krugman wrote an informative article in the Times titled: "Krugman Wonks Out: Why Trump's Signature Policy Was Such A Flop".

This ^ should also be required reading.

*Informed nod*

Krugman... really? Points and laughs out load.

 

[Lazaran]

^
Points and laughs out "load".

*chuckles*

 

[Lazaran]

The Times -- is it paywalled?

Just google the title I provided.

I was able to read it.

 

[pecksniff]

Krugman... really? Points and laughs out load.

Krugman is a Nobel laureate. He and Reich between them pretty much fill up the entire field of "American economists who publish popular books and articles and have any slightest shred of credibility."

 

[jomar]

…

I'm right though!!

…

Thinking you’re right and being right are two different things.

 

[BabyBoomer50s]

Yep and.my taxes(Federal) went up many tho shppngshrry@comcast.net usands under Trump.

The liberal Brookings Institute’s Tax Policy Center analyzed this. About 65% of taxpayers nationwide got a tax cut. There are always corner cases wrt to tax laws, and you must be in that 6% category that paid more, presumably because you live in a high tax state. Affluent coastal libs are still upset over the SALT cap even though most got tax cuts despite the cap.