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McConnell’s ‘Middle Class’ Tax Cut Gives 10 Times More To Mega-Rich Than To Middle Class Families
Wonk Room —
... A new analysis from the Tax Policy Center finds that this tax change would lower taxes by less than $400 for average middle-class Americans, give a $4,000 tax break to those making over $2.8 million a year, and do nothing for households making less than $40,000. ...
McConnell’s Middle Class
Matthew Yglesias —
On Sunday, Mitch McConnell’s proposed cutting the 25 percent income tax rate to 15 percent, which he described as a move to help the middle class. As usual with conservative tax proposals, this is true as long as you see “the middle class” as primarily composed of extremely wealthy people. Ben Furnas points to new analysis from the Tax Policy Center:
As economic stimulus, meanwhile, anything that — like McConnell’s proposal — would do nothing at all for folks earning less than $40,000 is a ...
