What WOULD increase the real incomes of the American middle class and working class?

[UltraChad]

If you say

Yea you keep trying to ascribe some shit you make up....... that's you're only move at this point other than just walking away from this thread.

 

[Politruk]

Yea you keep trying to ascribe some shit you make up......

Did you or did you not post:

Did, even under Trump.

 

[UltraChad]

Did you or did you not post:

I did.....now stop running around with the goalpost.

 

[Politruk]

I did.....now stop running around with the goalpost.

It's right where you left it. You said real incomes went up under Trump. Prove it.

 

[UltraChad]

It's right where you left it. You said real incomes went up under Trump. Prove it.

Tax cuts.

 

[Politruk]

Tax cuts.

The thread is about middle-class and working-class incomes. Trump's tax cut didn't help them.

 

[UltraChad]

The thread is about middle-class and working-class incomes. Trump's tax cut didn't help them.

It absolutely did, anyone who made over 10k got to keep more of their money.

 

[Politruk]

It absolutely did, anyone who made over 10k got to keep more of their money.

The NYT got it right.

Increases income and wealth inequality​

[edit]

Overall, the combined effect of the change in net federal revenue and spending is to decrease deficits (primarily stemming from reductions in spending) allocated to lower-income tax filing units and to increase deficits (primarily stemming from reductions in taxes) allocated to higher-income tax filing units.

Congressional Budget Office[114]
The New York Times editorial board explained the tax bill as both consequence and cause of income and wealth inequality: "Most Americans know that the Republican tax bill will widen economic inequality by lavishing breaks on corporations and the wealthy while taking benefits away from the poor and the middle class. What many may not realize is that growing inequality helped create the bill in the first place. As a smaller and smaller group of people cornered an ever-larger share of the nation's wealth, so too did they gain an ever-larger share of political power. They became, in effect, kingmakers; the tax bill is a natural consequence of their long effort to bend American politics to serve their interests." The corporate tax rate was 48% in the 1970s and is 21% under the Act. The top individual rate was 70% in the 1970s and is 37% under the Act. Despite these large cuts, incomes for the working class have stagnated and workers now pay a larger share of the pre-tax income in payroll taxes.[187]

The share of income going to the top 1% has doubled, from 10% to 20%, since the pre-1980 period, while the share of wealth owned by the top 1% has risen from around 25% to 42%.[188][189] Despite President Trump promising to address those left behind, the House and Senate bills would increase economic inequality:

• Sizable corporate tax cuts would flow mostly to wealthy executives and shareholders;
• In 2019, a person in the bottom 10% would average a $50 tax cut, while a person in the top 1% gets a $34,000 tax cut;
• Up to 13 million persons losing health insurance or subsidies are overwhelmingly in the bottom 30% of the income distribution;
• The top 1% receives approximately 70% of the pass-through income, which will be subject to much lower taxes;
• Rolling back the estate tax, which only impacted the top 0.2% of estates in 2016, is a $150 billion benefit [Note: $83 billion in final bill] to the ultra-rich over ten years.[190]
• The top 1% of households by wealth own 40% of stocks; the bottom 80% just 7%, even when including indirect ownership through mutual funds.[191]
• According to a Gallup survey, 52% of Americans owned some stock in 2016, down from 65% in 2007.[192]

In 2027, if the tax cuts are paid for by spending cuts borne evenly by all families, after-tax income would be 3.0% higher for the top 0.1%, 1.5% higher for the top 10%, −0.6% for the middle 40% (30th to 70th percentile) and −2.0% for the bottom 50%.[193]

 

[UltraChad]

The NYT got it right.

• In 2019, a person in the bottom 10% would average a $50 tax cut, while a person in the top 1% gets a $34,000 tax cut;

And there it is, the stone cold bottom line.


And that was so fucking amazing it made Trump more popular than any fucking pile of shit your team could offer.

So much so 49 out of 50 states lurched right, most distinctly in blue bastions of CA and NY.

 

[YDB95]

And there it is, the stone cold bottom line.

Why yes it is. Even you cannot seriously believe the two are in any way comparable.

And that was so fucking amazing it made Trump more popular than any fucking pile of shit your team could offer.

Except that it didn't. His approval rating never topped 50%, remember?

So much so 49 out of 50 states lurched right, most distinctly in blue bastions of CA and NY.

In 2020? No.

 

[UltraChad]

Why yes it is. Even you cannot seriously believe the two are in any way comparable.

?? Why not?

Except that it didn't. His approval rating never topped 50%, remember?

His approval rating according to leftist doesn't matter.

In 2020? No.

No in 2024.....the election your side got ripped in.

 

[Politruk]

His approval rating according to leftist doesn't matter.

Trump's approval rating among the whole public ever got above 50%.

 

[UltraChad]

Trump's approval rating among the whole public ever got above 50%.

So what?

 

[Politruk]

So what?

So that matters.