The top tenth of 1 percent, whose average income is $5.3 million, would save an average of $82,415. Those in the top group would see their tax bill cut 4.8 percent, while Americans at the center of the income distribution — the middle fifth of taxpayers, who will earn an average of $36,000 this year — could expect a 0.4 percent reduction in their tax bill, or about $20.
Those who make less than $75,000 — which includes about 75 percent of all taxpayers — would save, at most, $110 each. Those making more than $1 million would save, on average, almost $42,000.
And our children and our grand children and our great grand children get stuck with the bill.
Tags
Tax Policy
2 comments:
Time to make Federal reserves FEDERAL.
Most people don't realize the Federal Reserve is a private entity and not part of the government.
Also, in reference to our kids getting stuck with the debt: I showed them. I never had kids! No cannon fodder or tax serfs from me.
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