New York Magazine: The Richest One Percent of America Gets Half the Trump Tax Cuts

Well, now the House GOP has filled in all the missing details, and the result … would overwhelmingly benefit the rich. An analysis by the Institute on Taxation and Economic Policy, a left-leaning think tank whose calculations are broadly respected, finds that the highest-earning one percent of households would receive nearly half the direct benefit of the tax cuts. Specifically, the richest one percent, who earn 22 percent of all income, and pay 36 percent of all federal taxes, would get 48 percent of the Republican tax cuts. Read more