Mohacsy's Safe Portfolio Member Forum

[santafe2]

More on the Trump tax cuts from the tax policy center - hint..it's bad news:

According to a December 2017 analysis released by the Tax Policy Center (TPC), the law was expected to raise the after-tax income of 80.4% of households in 2018, but that cut was not distributed evenly or progressively. The analysis revealed that the tax break would hit 93.7% of taxpayers in the highest-earning quintile, and only 53.9% of those in the lowest quintile.

Even so, on average, every quintile was expected to receive a tax break.

That is no longer expected to be true once individual tax cuts expire after 2025. At that point, the TPC estimates that the majority of taxpayers—53.4%—will face a tax increase: 69.7% of those in the middle quintile (40th to 60th percentile) will pay more, compared to just 8% of the highest-earning 0.1%.