Trump Tax Cuts - Results Are In

[Bryce]

Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

What else is new? Democrats lie.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent.

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What's more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

In fact, every income bracket with filers earning $200,000 or more increased its tax burden in 2018 compared to 2017, and every income bracket with a top limit lower than $200,000 paid a smaller proportion of the total personal tax revenue collected.

https://www.heartland.org/publications- ... come-taxes

[Matt]

Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

What else is new? Democrats lie.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent.

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What's more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

In fact, every income bracket with filers earning $200,000 or more increased its tax burden in 2018 compared to 2017, and every income bracket with a top limit lower than $200,000 paid a smaller proportion of the total personal tax revenue collected.

https://www.heartland.org/publications- ... come-taxes

They want to undo the SALT limits which hurt high earners in high-tax states.

[Bryce]

Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

What else is new? Democrats lie.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent.

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What's more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

In fact, every income bracket with filers earning $200,000 or more increased its tax burden in 2018 compared to 2017, and every income bracket with a top limit lower than $200,000 paid a smaller proportion of the total personal tax revenue collected.

https://www.heartland.org/publications- ... come-taxes

They want to undo the SALT limits which hurt high earners in high-tax states.

Guess which party the people that still live in those states consistently vote for?

[Matt]

Congressional Democrats have argued that one of the best ways to pay for the legislation is to raise taxes on wealthy households, which, according to many on the left, have benefited disproportionately and unfairly from the 2017 tax reform law passed by Republicans and signed by former President Trump. The latest data, however, proves that this claim is pure mythology.

What else is new? Democrats lie.

A careful analysis of the IRS tax data, one that includes the effects of tax credits and other reforms to the tax code, shows that filers with an adjusted gross income (AGI) of $15,000 to $50,000 enjoyed an average tax cut of 16 percent to 26 percent in 2018, the first year Republicans' Tax Cuts and Jobs Act went into effect and the most recent year for which data is available.

Filers who earned $50,000 to $100,000 received a tax break of about 15 percent to 17 percent, and those earning $100,000 to $500,000 in adjusted gross income saw their personal income taxes cut by around 11 percent to 13 percent.

By comparison, no income group with an AGI of at least $500,000 received an average tax cut exceeding 9 percent, and the average tax cut for brackets starting at $1 million was less than 6 percent.

That means most middle-income and working-class earners enjoyed a tax cut that was at least double the size of tax cuts received by households earning $1 million or more.

What's more, IRS data shows earners in higher income brackets contributed a bigger slice of the total income tax revenue pie following the passage of the tax reform law than they had in the previous year.

In fact, every income bracket with filers earning $200,000 or more increased its tax burden in 2018 compared to 2017, and every income bracket with a top limit lower than $200,000 paid a smaller proportion of the total personal tax revenue collected.

https://www.heartland.org/publications- ... come-taxes

They want to undo the SALT limits which hurt high earners in high-tax states.

Guess which party the people that still live in those states consistently vote for?

Democrats support states rights when it comes to taxes.

[MotorCityRadioFreak]

We had a 90% corporate tax rate under Eisenhower. Does any GOP stooge want to tell us what it is today?

[Bryce]

We had a 90% corporate tax rate under Eisenhower. Does any GOP stooge want to tell us what it is today?

Please give me a list of the corporations that actually paid even 80% on earnings under Eisenhower.

You cant. Because The top marginal rate for corporations never went over 52.9% during the Eisenhower years.

[MotorCityRadioFreak]

https://www.politifact.com/factchecks/2 ... senhower-/

[Bryce]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

[MotorCityRadioFreak]

Let's be honest, the only rebate I got from Trump was $1.00 on my electric bill and $0.91 on my gas bill. $1.91, that was it. Meanwhile, some of these big corps paid little to no taxes!

[Rate This]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

And we remember that communist time in our history quite well and are hell bent on not going back to the terror inflicted upon us then by a tyrannical government. Avowed Marxist-socialist-communist-battlefield salesman and military industrial complex soothsayer Dwight D. Eisenhower is fortunately scrubbed from our history books as he should have been. An evil evil man indeed.

[MotorCityRadioFreak]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

And we remember that communist time in our history quite well and are hell bent on not going back to the terror inflicted upon us then by a tyrannical government. Avowed Marxist-socialist-communist-battlefield salesman and military industrial complex soothsayer Dwight D. Eisenhower is fortunately scrubbed from our history books as he should have been. An evil evil man indeed.

I agree, fuck all those freeways.

[Bryce]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

And we remember that communist time in our history quite well and are hell bent on not going back to the terror inflicted upon us then by a tyrannical government. Avowed Marxist-socialist-communist-battlefield salesman and military industrial complex soothsayer Dwight D. Eisenhower is fortunately scrubbed from our history books as he should have been. An evil evil man indeed.

Wonder what the viability of the bussing industry without the freeway system would be?

And, what does your rant have to do with the Trump Tax Cuts and the misinformation being stated by MCRF?

[Rate This]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

And we remember that communist time in our history quite well and are hell bent on not going back to the terror inflicted upon us then by a tyrannical government. Avowed Marxist-socialist-communist-battlefield salesman and military industrial complex soothsayer Dwight D. Eisenhower is fortunately scrubbed from our history books as he should have been. An evil evil man indeed.

Wonder what the viability of the bussing industry without the freeway system would be?

And, what does your rant have to do with the Trump Tax Cuts and the misinformation being stated by MCRF?

I’m showing you how easy and ridiculous it is to string communist-socialist-marxist into a sentence. It isn’t true when Republicans do it and it was no more true when I said it above.

Without the freeway system far fewer people had cars. Buses were used much more frequently back then. In fact that was THE way to get places. We’d either have a hell of a lot of small planes flying everywhere or the intercity bus system wouldn’t have deteriorated like it has. A combination of terrible management, crippling deregulation (I can explain) and personal car ownership as well as the proliferation of low cost airlines have hurt the industry.

[MotorCityRadioFreak]

https://www.politifact.com/factchecks/2 ... senhower-/

You said "corporations." That was the top marginal tax rate on individuals. None of those individuals paid anywhere near 90%. There were loopholes and deductions galore for the folks earning over 200,000.00 (which would be about 2 million a year in today's dollars) per year back then.

Don't get sucked in by the lies and innuendo sold by the left. Again, The top marginal rate for corporations never went over 52.9% during his administration.

And we remember that communist time in our history quite well and are hell bent on not going back to the terror inflicted upon us then by a tyrannical government. Avowed Marxist-socialist-communist-battlefield salesman and military industrial complex soothsayer Dwight D. Eisenhower is fortunately scrubbed from our history books as he should have been. An evil evil man indeed.

Wonder what the viability of the bussing industry without the freeway system would be?

And, what does your rant have to do with the Trump Tax Cuts and the misinformation being stated by MCRF?

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

[Bryce]

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?