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.
Informed by Data.
Driven by the SPIRIT and JESUS’s Example.
Promoting the Kingdom of GOD on Earth.