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The Liberal lies about the Trump tax cuts


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All we ever hear out of Pelosi and the Liberal news media is "tax the rich" to make up for the Trump tax cuts for the rich, so I did some analysis to see if the Trump tax cuts only applied to the rich.  The numbers clearly show the Trump tax cuts were for the middle class as well.

Here is what I found from the IRS tax tables for the respective years I used for comparison.   There is a pretty sharp drop-off between the 2017 and 2018 tax years for the Trump tax cuts.

Single and Married Filing Separately Filing Status Tax
Taxable Income 2013 2014 2015 2016 2017 2018 2019 2020
30,000 4,058 4,050 4,043 4,040 4,038 3,413 3,409 3,406
40,000 5,935 5,863 5,800 5,778 5,745 4,745 4,664 4,606
50,000 8,435 8,363 8,300 8,278 8,245 6,945 6,864 6,796
60,000 10,935 10,863 10,800 10,778 10,745 9,145 9,064 8,996
70,000 13,935 13,363 13,300 13,278 13,245 11,785 11,704 11,196
80,000 15,935 15,863 15,800 15,778 15,745 13,545 13,464 13,396
90,000 18,500 18,383 18,300 18,278 18,245 15,896 15,781 15,686
99,000 21,020 20,903 20,798 20,764 20,709 18,056 17,941 17,846

Next...

Married Filing Jointly Filing Status Tax
Taxable Income 2013 2014 2015 2016 2017 2018 2019 2020
30,000 3,611 3,596 3,581 3,576 3,571 3,222 3,215 3,208
40,000 5,111 5,096 5,081 5,076 5,071 4,422 4,415 4,408
50,000 6,611 6,596 6,581 6,576 6,571 5,622 5,615 5,608
60,000 8,111 8,096 8,081 8,076 8,071 6,822 6,815 6,808
70,000 9,611 9,596 9,581 9,576 9,571 8,022 8,015 8,008
80,000 11,864 11,719 11,594 11,549 11,484 9,485 9,323 9,208
90,000 14,364 14,219 14,094 14,049 13,984 11,685 11,523 11,386
99,000 16,614 16,469 16,344 16,299 16,234 13,665 13,503 13,366

Then lastly...

Head of a Household Filing Status Tax
Taxable Income 2013 2014 2015 2016 2017 2018 2019 2020
30,000 3,866 3,856 3,846 3,841 3,836 3,331 3,326 3,321
40,000 5,366 5,356 5,346 5,341 5,336 4,531 4,526 4,521
50,000 7,009 6,919 6,846 6,841 6,836 5,731 5,726 5,721
60,000 9,509 9,419 9,329 9,304 9,259 7,754 7,644 7,554
70,000 12,009 11,919 11,829 11,804 11,759 9,954 9,844 9,754
80,000 14,509 14,419 14,329 14,304 14,259 12,154 12,044 11,954
90,000 17,009 16,919 16,829 16,804 16,759 14,504 14,360 14,244
99,000 19,259 19,169 19,079 19,054 19,009 16,664 16,520 16,404

People are fooling themselves if they think the Biden Administration tax increases are only going to apply to "the rich". Taxes for everyone, not just the rich, are going to be elevated back to that of the Obama Administration or a good bit higher. The tax increases will be for the middle class as well as the rich just like the Trump tax cuts were for everyone. Look at the numbers.  Can your budget take the increases that are most surely coming?

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15 minutes ago, Spur's Addiction said:

Why did you stop at $99,000? Let's see the rates, deductions, and loopholes available to people making $500k plus per year. 

 

You're trying to make a point, but left off half the data.

Tax on incomes above $100K is computed manually per the IRS and, by definition, is not in the tax tables.

I don't have the time or desire to go that deep since I always use the tax tables for myself.

I only needed to include the posted data to support my claim that the middle class taxes are going up as well under the Biden Administration.

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Don't think anyone has said the cuts were only for the rich. I think everyone agrees that the middle class did a get a bone with these tax cuts. 

 

And you haven't posted anything to support the claim that taxes for the middle class will go up under Biden. Except SAC did mention this, which Biden had nothing to do with. 

1 hour ago, SanAntonioCock said:

The Trump tax cuts for the middle class are set to expire soon. Not so with the wealthy.

 

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