31-01-2025, 08:39
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#953
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 68
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Posts: 43,760
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Re: President Trump 2.0
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Originally Posted by Pierre
Quote:
Originally Posted by ianch99 View Post
Welcome to MAGA America:
Trump's Treasury nominee just said "extending" Trump's tax handouts for billionaires is their TOP priority: "This is the single most important economic issue of the day."
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That’s not what he says, and if you’re reduced to using a one minute TikTok video on Reddit, you’ve lost the point before you’ve made it.
Try harder. |
https://www.reuters.com/world/us/tru...ty-2025-01-16/
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Jan 16 (Reuters) - Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day."
"If we do not renew and extend, then we will be facing an economic calamity," Bessent told the U.S. Senate Finance Committee. "We will see a gigantic middle class tax increase."
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https://donnellonlaw.com/blog/which-...trump-tax-cut/
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Which Tax Bracket Benefited Most from the Trump Tax Cut?
Justin Fox wrote in February 2021 for Bloomberg about recent data he obtained concerning the year 2018 in federal taxes.
This data refers specifically to the Alternative Minimum Tax, and changes that the Trump administration made to the Alternative Minimum Tax. These tax cuts were included in the 2017 Tax Cuts and Jobs Act.
These cuts were advertised as gifts to the middle class. Who gained from these cuts, and by how much?
Two particular tax brackets gained the most from the 2017 Tax Cuts and Jobs Act. The slivers of the population whose adjusted gross income was between $200,000 and $1,000,000 gained the most from their 2018 federal taxes.
Another data set from the I.R.S. splits taxpayers into percentiles. To be specific, it slices U.S. taxpayers into 100 groups. The percentile group that benefited the most? The 98th. In 2018, the 98th percentile referred to households that had an adjusted gross income between $359,000 and $540,000.
According to Jim Tankersley of the New York Times, that 2017 Tax Cuts and Jobs Act will be difficult for the Biden administration to roll back.
That Act was estimated to cost the U.S. government coffers nearly $2 trillion over ten years.
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Last edited by Hugh; 31-01-2025 at 08:44.
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