As I get more details I will post more. Note that they are assuming the Trump Tax Cuts which give most breaks to those with incomes over $413K/year and raises those at the bottom.
And realize that the Trump/GOP plan will also do away with the Earned Income Tax Credit which essentially eliminated income taxes (not payroll taxes) from the lower 47% of
working people (which is about $37K/year according to the ). That means all people with less than $37K in income per year move from 0% tax to 12% tax. That is a real killer for those in those terrible straights. Incredible cruelty especially since there is no movement towards more jobs (Obama’s record better than Trunmp’s so far)
and no consideration of a min wage hike (except in progressive cities).
Since the Middle Class (30-70%) makes between $23K and $59K/ year (using the above calculator), only those middle class between $37K and $59K will get a tax break and that only of 3% or $1444K/year (on average). Meanwhile the top income earners (>$488K/year) get a tax cut of 6.6% or at least $32,208/year.
All this is first order (I have not taken into account the changes in deductions/exemptions). But the story is the same - increased taxes to the lower income class, very little middle class tax cut, and big cuts to the high class.
This should not be tolerated. Know the FACTS.