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Principale » Tax plan in Congress will benefit wealthy

Tax plan in Congress will benefit wealthy

15 Novembre 2017

They would each raise the deficit by around $1.5 trillion over the next decade, and according to an analysis by Congress' Joint Committee on Taxation, the Senate bill would raise taxes for 13.8 million middle-income Americans.

According to Mark Mazur, Tax Policy Center, the bill would amount to a decent tax decline for the majority of the US households.

Why don't they want their taxes cut?

But some of the wealthiest Americans have pleaded with Congress not to go ahead with the tax reforms, claiming the timing was wrong with debt rising and inequality at its highest levels for almost 100 years.

Republican congressmen are hoping to get Trump's tax plan onto his desk to be signed by the end of the year, following a series of humiliating defeats in their bid to repeal and replace Obamacare.

The White House and congressional Republicans contend the bill is geared toward pumping more investment into the USA economy.

Is the problem with American tax system that the wealthy and most profitable corporations pay too much tax, strangling economic development?

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The poll found 32 percent of Americans think the wealthy will benefit most, compared to 14 percent who think all Americans will benefit and 14 percent who think large US corporations will benefit most.

The proposal would also eliminate most individual tax deductions, a move that could result in some taxpayers seeing an increase in their total bill to the government while others see a decrease.

Why that's easy: take away the deductions that middle class people use: So, if your employer gives you something to help you take care of aging parent or daycare for your child, those benefits will now be taxable income (that would offset $6.5 billion of the $200 billion).

Who brought them all together? That would be devastating for all but the wealthiest Americans.

But among Democrats, 46 percent think that wealthy will benefit most, with only 7 percent thinking all Americans will benefit and 17 percent who think corporations will benefit. Between 2010 and 2016, the share of wealth controlled by the top one percent of earners steadily grew, according to Federal Reserve data, reaching a record-high of 38.6 percent in 2016.

The Reuters/Ipsos poll was conducted in early November online in English throughout the United States.

Tax plan in Congress will benefit wealthy