Under the G.O.P. Tax Plan, Who Would Win and Lose?

Under the G.O.P. Tax Plan, Who Would Win and Lose?

Under the G.O.P. Tax Plan, Who Would Win and Lose?br Who Would See Tax Cuts From the Senate Plan Next Year …br … And How Much They Would Savebr $30,000-$50,000: $638br $50,000-$75,000: $1,035br $75,000-$100,000: $1,439br $100,00-$200,000: $2,356br $200,000-$500,000: $5,090br Many households would pay less in taxes, but some would pay more, including about 13 millionbr middle-class families, according to estimates by the Joint Committee on Taxation.br Most American businesses are organized not as corporationsbr but as “pass-through” entities like partnerships and proprietorships, where the income is passed along to their owners and then taxed under the individual income tax system.br The House bill reduces the seven current marginal income tax brackets to four: 12, 25, 35 and 39.6 percent.br The idea of tax cuts has always been popular, but if the system doesn’t bring in enough revenue to pay for necessities — soldiers’ salaries, highway constructionbr and disaster relief, among others — then the changes could undercut economic growth and the standard of living.


User: RisingWorld

Views: 16

Uploaded: 2017-11-18

Duration: 02:02

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