The numbers are in: Trump's tax plan is a bonanza for the rich, not the middle class

[CousinIT]

Multi-millionaires get more than $700,000 back. The poorest fifth gets $60.

The tax reform “framework” proposed by the Trump administration and Republican leaders in Congress would give the largest benefits to the top 1 and top 0.1 percent of households, according to a new analysis by the nonpartisan Tax Policy Center. The poor and middle class would get comparatively little. And the whole thing would leave a $2.4 trillion hole in federal revenue in the first decade.



The richest 1 percent — households making at least $732,800 — would get an average tax cut of $129,030, the analysis finds. For the typical one-percenter (who earns much more than $732,800), that means 8.5 percent more income after taxes. The richest 0.1 percent, earning at least $3.4 million a year, would get $722,510 back on average, for a 10.2 percent average boost in after-tax income.

By contrast, the middle class (households earning $48,600 to $86,100 a year) would get $660 back, a 1.2 percent income boost. The poorest fifth of Americans, earning $25,000 or less, would only get $60, a 0.5 percent increase.

https://www.vox.com/policy-and-politics/2017/9/29/16384274/big-six-tax-reform-congress-trump-tax-policy-center

[no_hypocrisy]

1. How many votes will be needed in the Senate to pass it?

50 because it will be incorporated into the next Budget or 60 to overcome a filibuster?

[Voltaire2]

3. I thought it had to be revenue neutral to go through fast track.

But the rules are absurdly vague. My guess is that somehow this will be filibuster proof. If so, there will be zero Republicans against this, so it will pass.

[Xipe Totec]

2. A boon for the privileged crass nt

[Scurrilous]

4. K&R