Death and Taxes, Cont.

“I thought you’d be taller.”

This passage in Center for American Progress jumped out at me:

In fact, estimates by the Institute on Taxation and Economic Policy (ITEP) show that the Senate majority tax bill would give foreign investors a windfall of $31 billion in 2019—the first year that the corporate tax rate is slashed to 20 percent under the Senate bill. That same year, the House majority bill would be even more generous to foreign investors, benefiting them by $50.4 billion. Amazingly, ITEP estimates show that the House bill’s combined tax cut for families in the bottom 80 percent of the income distribution in the 30 states won by President Donald Trump is just $39.4 billion. This means that, as shown in Figure 1, foreign investors would receive a benefit from the House tax plan larger than the combined tax cuts to working- and middle-class taxpayers in every state that cast its electoral votes for President Trump. Likewise, the benefit to foreign investors in the Senate tax plan in 2019 is larger than the combined benefit to families in the bottom 80 percent in every Trump state, excluding Florida and Texas.

We won’t even gain as much as foreign plutocrats.

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One Response to Death and Taxes, Cont.

  1. Jim says:

    Yeah, I’m tired of all that winning, for sure.

    Like

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