Still don’t believe me about the wealthy?
The Washington Post on Republican U.S. House Speaker Paul Ryan’s new budget proposal:
The House Republicans’ proposal for tax relief could force the government to borrow trillions of dollars to continue operating and might even weaken the economy, according to a new analysis from the nonpartisan Tax Policy Center.
By 2025, when the reductions would be fully implemented, 99.6 percent of the tax cuts would benefit the wealthiest 1 percent of Americans, according to the analysis. This group would enjoy the greatest relief as a share of their income (increasing their incomes after taxes by 10.6 percent on average) and in terms of dollars (an average annual savings of $240,000 for each household).
Poor and working-class households would gain more modest benefits. The poorest 20 percent of Americans would see an average increase of 0.5 percent in their incomes, or about $120 a year. Households in the upper middle class, those in the 60th percentile through the 95th percentile, would pay more in taxes on average.
Funny how targeted it is in ensuring a certain segment of the population benefits. Indeed, “middle class” people would pay more in taxes. If you’re one of the white working class Trump supporters (hopefully not a voter), you may want to keep Ryan’s budget in mind.
See? The wealthy are keeping their grip on the wheel of state.