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Liberals Were Very Wrong About Tax Cuts. Again.

Some interesting tidbits, like:

"As Chris Edwards of the Cato Institute has pointed out, the TCJA's largest percentage tax cuts went to the middle class. Even the liberal Tax Policy Center estimated that 65 percent Americans paid less last year (6 percent paid more) due to tax reform. More than 44 percent of Americans pay no federal income tax. (Though corporate taxes are also a tax on consumers, so cuts benefitted nearly everyone.)"

Originally posted by Surtur
Liberals Were Very Wrong About Tax Cuts. Again.

Some interesting tidbits, like:

"As Chris Edwards of the Cato Institute has pointed out, the TCJA's largest percentage tax cuts went to the middle class. Even the liberal Tax Policy Center estimated that 65 percent Americans paid less last year (6 percent paid more) due to tax reform. More than 44 percent of Americans pay no federal income tax. (Though corporate taxes are also a tax on consumers, so cuts benefitted nearly everyone.)"

According to the Tax Policy Center, the third quintile or "middle-class" only received 11% of the benefit in 2018, while the the fifth quintile or "upper-class" received 65% of the benefit.

So clearly, Chris Edwards is lying when he suggests that the largest percentage of the benefit of the Tax Cuts and Jobs Act of 2017 was distributed to the middle-class.

He only works for the "Libertarian" Cato Institute, owned and operated by the Republican billionaire Koch brothers. What incentive would have to misrepresent a tax law that benefits his employers to the people who are subsidizing those benefits through their increased taxes?

Trump's Tax Plan and How It Affects You

Corporate tax rates were cut from 35% to 21%, that was the largest tax break under Trump Tax.

The corp rate/cut remains permanent while the personal tax cuts expire end of 2025.

Originally posted by Robtard
Trump's Tax Plan and How It Affects You

Corporate tax rates were cut from 35% to 21%, that was the largest tax break under Trump Tax.

The corp rate/cut remains permanent while the personal tax cuts expire end of 2025.

Doesn't change the fact that it's wrong to suggest only corporations and the wealthy benefited.

Originally posted by Surtur
Doesn't change the fact that it's wrong to suggest only corporations and the wealthy benefited.

That's another Strawman.

So what's going on?

Did 65% of Americans pay less?

If so, that's a huge difference.

And Surtur's point is not a strawman that the taxes didn't only benefit the rich and corps, it would be the entire topic of this thread.


It's hard to follow what t*t-for-tat you guys are pulling.

There was also the CEO meeting where almost none of them said they would either reinvest in the business or pass on corporation tax cuts to their consumers but simply pocket the money for shareholders.

Originally posted by jaden_2.0
There was also the CEO meeting where almost none of them said they would either reinvest in the business or pass on corporation tax cuts to their consumers but simply pocket the money for shareholders.

Shocking and TBF, no one could have foreseen that happening or something.

Not surprising. Liberals are wrong about everything.

Originally posted by Robtard
Shocking and TBF, no one could have foreseen that happening or something.

lol

Originally posted by Killjoy12
Not surprising. Liberals are wrong about everything.

hehe