Trump Tax Cuts - Results Are In

[Rate This]

There was zero that I said that was misinformation. Everything was fact checked.

Fact checked by whom? Some left wing looser living in their parents basement?

We had a 90% corporate tax rate under Eisenhower.

Fact:
The corporate tax rate NEVER rose higher than 52.9 percent during the Eisenhower administration. And, on the first $25,000 in earnings (equal to $243,890 in 2021) the rate was at 30%.
Source:
https://www.irs.gov/pub/irs-soi/02corate.pdf
I guess your "basement journalists", you know, the same loosers that spent several years telling us about Russian collusion and also told us that the Hunter laptop was Russian disinformation, weren't able to find actual IRS documents. Maybe they used a fake dossier to fact check your information too?

Top income tax rate was 90% during the Eisenhower Administration. It began to lower under Kennedy and hasn’t looked back. That’s what he means.

[Bryce]

Top income tax rate was 90% during the Eisenhower Administration. It began to lower under Kennedy and hasn’t looked back. That’s what he means.

You two keep ignoring , intentionally I'm sure, the word CORPORATE MCRF used.

Again, the top corporate tax rate was below 53%

As far as the marginal income tax rate goes, back then, during 1951 the top tax bracket was $400,000 (Over $4 Million in 2021 dollars). So anything above $400,000 was taxed at 91%. In other words, if someone made $500,000, that last $100,000 was taxed at 90%, not the entire $500K.

I guess if you guys want to tax any personal income over 4 million dollars per year at 91%, have at it. In 2020 earning $538,926 put you in the top 1% of earners in the US. How many people in the top 1% actually earn $4 million in a year, and how much money is that 91% of earnings over $4 million going to raise? But, tax the rich sounds good to the ignorant masses.

Back to the point of the original post. The facts are in, Trump tax cuts benefited the lower income and middle income earners more that the high income earners, contrary to what the Democrat leaders in the House and Senate kept saying.

[FakeAndyStuart]

Sorry dude, flawed data. The table from heartland.org does not match up with the data from the IRS. For example -

2018 - Average Income Tax Paid for incomes $10,000 - < $15,000 - IRS says that number is $153, which is an increase over 2017 ($120)

Check your numbers yourself.. https://www.irs.gov/statistics/soi-tax- ... oss-income

[Bryce]

Sorry dude, flawed data. The table from heartland.org does not match up with the data from the IRS. For example -

2018 - Average Income Tax Paid for incomes $10,000 - < $15,000 - IRS says that number is $153, which is an increase over 2017 ($120)

Check your numbers yourself.. https://www.irs.gov/statistics/soi-tax- ... oss-income

Umm, from the link you provided...

Table 3.1. Returns with Modified Taxable Income [1]: Adjusted Gross
Income and Tax Items, by Type of Tax Computation, by Size of
Adjusted Gross Income, Tax Year 2018 (Filing Year 2019)

It showed that bracket payed less than the year before.

[Rate This]

Top income tax rate was 90% during the Eisenhower Administration. It began to lower under Kennedy and hasn’t looked back. That’s what he means.

You two keep ignoring , intentionally I'm sure, the word CORPORATE MCRF used.

Again, the top corporate tax rate was below 53%

As far as the marginal income tax rate goes, back then, during 1951 the top tax bracket was $400,000 (Over $4 Million in 2021 dollars). So anything above $400,000 was taxed at 91%. In other words, if someone made $500,000, that last $100,000 was taxed at 90%, not the entire $500K.

I guess if you guys want to tax any personal income over 4 million dollars per year at 91%, have at it. In 2020 earning $538,926 put you in the top 1% of earners in the US. How many people in the top 1% actually earn $4 million in a year, and how much money is that 91% of earnings over $4 million going to raise? But, tax the rich sounds good to the ignorant masses.

Back to the point of the original post. The facts are in, Trump tax cuts benefited the lower income and middle income earners more that the high income earners, contrary to what the Democrat leaders in the House and Senate kept saying.

I attempted to correct him… it looks to me like he had the two confused.

[FakeAndyStuart]

Sorry dude, flawed data. The table from heartland.org does not match up with the data from the IRS. For example -

2018 - Average Income Tax Paid for incomes $10,000 - < $15,000 - IRS says that number is $153, which is an increase over 2017 ($120)

Check your numbers yourself.. https://www.irs.gov/statistics/soi-tax- ... oss-income

Umm, from the link you provided...

Table 3.1. Returns with Modified Taxable Income [1]: Adjusted Gross
Income and Tax Items, by Type of Tax Computation, by Size of
Adjusted Gross Income, Tax Year 2018 (Filing Year 2019)

It showed that bracket payed less than the year before.

Perhaps.. however, the numbers in the chart you linked to do not match up to the numbers in these reports in a very casual look. I wish I had the time to create a new chart. (Perhaps one of you living in Mom's basement people has the free time??)