2 Years After Trump’s Tax Reform, Middle-class Incomes Aren’t Keeping Up
America’s richest families will boost income at twice the rate of the middle class, partly due to the Trump administration’s Tax Cuts & Jobs Act.
A Congressional Budget Office study found that middle class families are getting little benefit from the tax cuts passed in 2017. Incomes of the top 1% grew twice as fast as middle class incomes and tax rates declined most for the top taxpayers.
Income inequality, already at 50-year highs, increased further. State tax structures are changing in Massachusetts and Illinois.
Comments are closed.