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Tax cut’s big beneficiaries in our area’s 10th congressional district were six-figure income earners, not the middle class!

“How did Olympia do under Trump tax cuts? You can calculate it for yourself”

“President Donald Trump has said it’s time to consider another tax cut — as evidence mounts that wealthier taxpayers in the Olympia area and around the nation benefited a lot more than others from his first one.”

“The new cut, the president said, would be “mostly devoted to middle income (taxpayers) who have really been big beneficiaries of the (last tax cut) that we did which was the largest in the history of our country.”

“But data on the impact of the tax cuts, enacted two years ago, shows in great detail what other studes (sic) have found: Those with big six-figure incomes were bigger beneficiaries.””

“Results from the the Olympia area’s 10th congressional district find people with adjusted gross incomes of $25,000 to $50,000 got a cut of $801, or 2.2%. The break was also 2.2% for those making $75,000 to $200,000.

“But the percentage jumped to 5.2% for people with adjusted gross incomes of more than $200,000.”

You can calculate it for yourself here,” by David Lightman, The Olympian. Read more

Posted by Steve on December 2, 2019 at 12:01 am | Permalink

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