15

Data prove it: The Trump tax cuts soaked the rich(nypost.com)

posted
by
Avatar
PeepinGoodArgs@reddthat.com
in
Avatar
conservative@lemm.ee
26 comments
hidereport

The latest IRS data on who bears the income tax burden demonstrate yet again the benefits of lower tax rates over higher rates.

When President Donald Trump entered office, the richest 1% of tax filers ($675,000 income and above) paid a little more than 40% of the income taxes collected.

The 2017 Trump tax cut reduced the effective highest federal tax rate to 37% from 42%.

But the most recent IRS tax return data (for 2021) confirm that even as these rates were lowered — not to mention the corporate tax rate cut from 35% to 21% — the share of the tax burden shouldered by the 1% rose to almost 46%.

Written by the guy who came up with the Laffer Curve, Arthur Laffer.

Sort:
HotTopControversialNewOld
You are viewing a single thread.
View all comments View context
Avatar
PizzaMan@lemm.ee
8 points

Are you able to offer anything other than dismissive labels?

permalink
report
parent
reply
Avatar
MomoTimeToDie@sh.itjust.works
-9 points

Sure. But why would I bother when I know you’re just going to keep spamming your usual slop regardless?

permalink
report
parent
reply
Avatar
Neuromancer@lemm.eeM
-9 points

Why do you two just go in circles all the time? Why not just Ignore each other?

permalink
report
parent
reply
Avatar
MomoTimeToDie@sh.itjust.works
-9 points

Because just letting disinformation go unchecked is overall bad for the community

permalink
report
parent
reply
Show more comments

Conservative

!conservative@lemm.ee

Create post

A place to discuss pro-conservative stuff

  1. Be excellent to each other. Civility, No Racism, No Bigotry, No Slurs, No calls to violences, No namecalling, All that good stuff, follow lemm.ee’s rules, follow the rules of your instance, etc.

  2. We are a Pro-Conservative forum. Posts must have a clear pro-conservative, or anti left-wing bias. We are interested in promoting conservatism and discussing things that might get ignored elsewhere. All sources are acceptable, however reputable sources with a reputation for factual reporting are preferred.

  3. Dissent is allowed in the comments, but try to be constructive; if you do not agree, then provide a reason which is backed up by references or a reasonable alternative interpretation of the provided facts. That means the left wing is welcome to state their opinions, but please keep it in good faith.

A polite request, not a rule, if you feel the need to report a comment, please don’t reply to it.

Community stats

  • 1.2K

    Monthly active users

  • 1K

    Posts

  • 13K

    Comments

Community moderators