Tuesday, May 23, 2023 8:10:24 PM
Trump’s tax cuts helped billionaires pay less than the working class for first time
Donald Trump’s tax package the top 0.1% of US households were granted a 2.5% tax cut that pushed their rate below that of the lower 50% of US earners.
Trump’s tax cuts helped billionaires pay less than the working class for first time
They were billed as a “middle-class miracle” but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.
. . .
Taxes on the rich have been falling for decades. In 1960 the 400 richest families paid as much as 56% in taxes, by 1980 the rate had fallen to 40%.
But Trump’s tax cuts – his most significant legislative victory – proved a tipping point.
https://www.theguardian.com/business/2019/oct/09/trump-tax-cuts-helped-billionaires-pay-less
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Donald Trump’s tax package the top 0.1% of US households were granted a 2.5% tax cut that pushed their rate below that of the lower 50% of US earners.
Trump’s tax cuts helped billionaires pay less than the working class for first time
They were billed as a “middle-class miracle” but according to a new book Donald Trump’s $1.5tn tax cuts have helped billionaires pay a lower rate than the working class for the first time in history.
. . .
Taxes on the rich have been falling for decades. In 1960 the 400 richest families paid as much as 56% in taxes, by 1980 the rate had fallen to 40%.
But Trump’s tax cuts – his most significant legislative victory – proved a tipping point.
https://www.theguardian.com/business/2019/oct/09/trump-tax-cuts-helped-billionaires-pay-less
Your link:
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