Re:Market Concentration Is Threatening the US Economy
by SeanAppleby on Wednesday March 13, 2019 @01:38PM
(#19381253)
SALT caps really screw a lot of people though. My effective federal tax rate is higher after the tax "cut" than it would have been under the previous tax laws.
It really depends on where you live. Some blue areas have had effective tax increases for a sizable chunk of the population.
Re:Market Concentration Is Threatening the US Economy
by sykic on Wednesday March 13, 2019 @01:53PM
(#19381436)
I misspoke. The cuts have been mostly but not exclusively for the very rich. For instance, Reagan thought the tax on capital ought to be higher than the tax on labor. Now if a politician suggested this they'd be labeled a socialist by the Republican party.
Let’s be honest, tax cuts may be bad policy, but it is not true that they haven’t been lowered for the average person. Rates are down, standard deduction is up.