It is difficult to compare since they talk about tax brackets for "wage" earners and corporations and the wealthy have money that is earned in various fashions, are allowed a boat load of deductions that you and I are not, and are taxed at different rates depending on where the money was earned (wages, profits on investments, profits on …
It is difficult to compare since they talk about tax brackets for "wage" earners and corporations and the wealthy have money that is earned in various fashions, are allowed a boat load of deductions that you and I are not, and are taxed at different rates depending on where the money was earned (wages, profits on investments, profits on business, pass through profits, sales of stock - a whole bungy chord of rules all by themselves). So, the average citizen has like 1 source of income, which is what they all talk about - but rich people frequently do not draw a wage of any kind. So, we are quite often just being filled full of rot when they talk about tax breaks -
Just know that taxes for wage earning poor people and the working and middle class are going to go up to pay for all the ways that they have given the wealthy to get a tax break. Something I read the other day said that the middle income people would get like an $815 tax break and the wealthy would get a $74,000 tax break. The poorest people would have their taxes raised, and the middle class would as well.
Without understanding the 1,000's of pages in the stacks of tomes that make up the tax code, it would be really hard to even compare. Just know that everyone but the wealthiest people amongst us and people making over like 400,000 per year are getting screwed in the budget bill.
Approximately 3.8 million people will benefit greatly and 87 million or more people or 95% of the working population will either get a small tax break or will pay higher taxes.
It is difficult to compare since they talk about tax brackets for "wage" earners and corporations and the wealthy have money that is earned in various fashions, are allowed a boat load of deductions that you and I are not, and are taxed at different rates depending on where the money was earned (wages, profits on investments, profits on business, pass through profits, sales of stock - a whole bungy chord of rules all by themselves). So, the average citizen has like 1 source of income, which is what they all talk about - but rich people frequently do not draw a wage of any kind. So, we are quite often just being filled full of rot when they talk about tax breaks -
Just know that taxes for wage earning poor people and the working and middle class are going to go up to pay for all the ways that they have given the wealthy to get a tax break. Something I read the other day said that the middle income people would get like an $815 tax break and the wealthy would get a $74,000 tax break. The poorest people would have their taxes raised, and the middle class would as well.
Without understanding the 1,000's of pages in the stacks of tomes that make up the tax code, it would be really hard to even compare. Just know that everyone but the wealthiest people amongst us and people making over like 400,000 per year are getting screwed in the budget bill.
Approximately 3.8 million people will benefit greatly and 87 million or more people or 95% of the working population will either get a small tax break or will pay higher taxes.
I looked these numbers up - you can to.
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