3 ms·
This narrative isn't consistent with what the actual tax bill does, which is a massive redistribution of wealth to the very richest Americans. For example, wha
by panic 9y ago
This narrative isn't consistent with what the actual tax bill does, which is a massive redistribution of wealth to the very richest Americans. For example, what part of repealing the estate tax for inheritances above $5.5 million will help this urban middle class?
- deleted 9y ago[deleted]
- vostok 9y ago> For example, what part of repealing the estate tax for inheritances above $5.5 million will help this urban middle class? The narrative is that the tax bill is meant to help the rich and the rural red state poor at the expense of the urban blue state middle class.
- CalChris 9y agoI don't see how the tax plan helps the rural red state poor. It certainly helps the rich and prefers red states (people lose state and local deduction, businesses keep it). However, the rural red state poor already aren't paying much if any taxes. It's more of a red meat issue for them.
- vostok 9y agoI honestly haven't calculated the tax difference for the rural red state poor. Are you sure they won't benefit from the increased standard deduction? If you're sure then I'll trust your calculations over my not-calculations.
- CalChris 9y agoThe lowest quintile will see about $60 of reduction which is non-zero. So the plan can say that it saves them money. However, it is not significant. http://www.taxpolicycenter.org/publications/preliminary-distributional-analysis-tax-cuts-and-jobs-act/full http://www.taxpolicycenter.org/publications/preliminary-dist...
- panic 9y agoOops, I meant to say rural middle class!