Los Angeles Times: Trump’s Payroll Tax Cut Demand Is Absurd

Specifically, according to the Institute on Taxation and Economic Policy, a nonprofit think tank that tracks how taxes and tax breaks are distributed along the income spectrum, 65% of the benefit would go to the top 20% of earners — those making $118,700 or more a year. Fully 25% of the benefit would go to the top 1%. That group collects income of $643,700 or more, with an average income of $2 million.

The poorest 20%, with income below $24,200, would receive only 2% of the benefit. The next poorest 20% would receive 6% of the benefit. Read more