On Wednesday, reporters waiting to write about President Trump’s much-ballyhooed tax reform speech in Missouri received a fact sheet from the White House informing them that, “Fortune 500 corporations are holding more than $2.6 trillion in profits offshore to avoid $767 billion in Federal taxes, according to the Institute on Taxation and Economic Policy.”
Trump-GOP Tax Law
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blog August 31, 2017 Trump (Sort of) Used Our Data on Corporate Tax Avoidance, But He Missed the Point
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blog August 30, 2017 Sorting Through the Fallacies in Trump’s Missouri Tax Speech
President Donald Trump spoke in Springfield, Missouri today about the need for a tax reform that provides “more jobs and higher wages for America” and “tax relief for middle-class families.” But the proposals the Trump administration has released so far would cut taxes for companies moving investment offshore and would provide most tax cuts to the richest one percent of taxpayers.
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blog August 22, 2017 Inaccuracies Pile Up During Speaker Ryan’s Town Hall Meeting
On Monday, House Speaker Paul Ryan participated in a live-broadcast town hall meeting in his district in Wisconsin where he discussed tax reform, among other issues. One could credit Ryan for holding such a meeting, but sadly, anyone wishing to learn about the rationale for Ryan’s ideas on taxes would have been disappointed.
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blog August 17, 2017 Context Is Everything
Today, the economic climate is starkly different, but it seems GOP leaders are relying on messaging and luck to push through the biggest tax package since 1986. The White House, Republican leaders and anti-tax advocates all have been toeing the same erroneous line: their plans to cut individual and corporate taxes will benefit middle class families and grow the economy. This is, of course, baloney.
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August 17, 2017 In North Carolina 42.4 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the North Carolina population (0.5 percent) earns more than $1 million annually. But this elite group would receive 42.4 percent of the tax cuts that go to North Carolina residents under the tax proposals from the Trump administration. A much larger group, 50.8 percent of the state, earns less than $45,000, but would receive just 5.9 percent of the tax cuts.
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August 17, 2017 In North Dakota 44.5 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the North Dakota population (0.5 percent) earns more than $1 million annually. But this elite group would receive 44.5 percent of the tax cuts that go to North Dakota residents under the tax proposals from the Trump administration. A much larger group, 42.2 percent of the state, earns less than $45,000, but would receive just 3.9 percent of the tax cuts.
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August 17, 2017 In Nebraska 38.4 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Nebraska population (0.5 percent) earns more than $1 million annually. But this elite group would receive 38.4 percent of the tax cuts that go to Nebraska residents under the tax proposals from the Trump administration. A much larger group, 41.8 percent of the state, earns less than $45,000, but would receive just 5.0 percent of the tax cuts.
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August 17, 2017 In Nevada 51.7 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Nevada population (0.3 percent) earns more than $1 million annually. But this elite group would receive 51.7 percent of the tax cuts that go to Nevada residents under the tax proposals from the Trump administration. A much larger group, 47.5 percent of the state, earns less than $45,000, but would receive just 5.4 percent of the tax cuts.
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August 17, 2017 In New Hampshire 33.5 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the New Hampshire population (0.3 percent) earns more than $1 million annually. But this elite group would receive 33.5 percent of the tax cuts that go to New Hampshire residents under the tax proposals from the Trump administration. A much larger group, 35.1 percent of the state, earns less than $45,000, but would receive just 5.1 percent of the tax cuts.
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August 17, 2017 In New Mexico 35.3 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the New Mexico population (0.3 percent) earns more than $1 million annually. But this elite group would receive 35.3 percent of the tax cuts that go to New Mexico residents under the tax proposals from the Trump administration. A much larger group, 47.5 percent of the state, earns less than $45,000, but would receive just 5.8 percent of the tax cuts.
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August 17, 2017 In Michigan 38.6 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Michigan population (0.2 percent) earns more than $1 million annually. But this elite group would receive 38.6 percent of the tax cuts that go to Michigan residents under the tax proposals from the Trump administration. A much larger group, 43.3 percent of the state, earns less than $45,000, but would receive just 4.2 percent of the tax cuts.
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August 17, 2017 In Minnesota 46.6 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Minnesota population (0.7 percent) earns more than $1 million annually. But this elite group would receive 46.6 percent of the tax cuts that go to Minnesota residents under the tax proposals from the Trump administration. A much larger group, 36.9 percent of the state, earns less than $45,000, but would receive just 5.0 percent of the tax cuts.
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August 17, 2017 In Mississippi 37.1 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Mississippi population (0.2 percent) earns more than $1 million annually. But this elite group would receive 37.1 percent of the tax cuts that go to Mississippi residents under the tax proposals from the Trump administration. A much larger group, 55.7 percent of the state, earns less than $45,000, but would receive just 6.3 percent of the tax cuts.
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August 17, 2017 In Alaska 31.6 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
Click here for a pdf of this page A tiny fraction of the Alaska population (0.4 percent) earns more than $1 million annually. But this elite group would receive 31.6… -
August 17, 2017 In Missouri 45.0 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Missouri population (0.5 percent) earns more than $1 million annually. But this elite group would receive 45.0 percent of the tax cuts that go to Missouri residents under the tax proposals from the Trump administration. A much larger group, 48.6 percent of the state, earns less than $45,000, but would receive just 5.7 percent of the tax cuts.
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August 17, 2017 In Tennessee 40.7 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Tennessee population (0.5 percent) earns more than $1 million annually. But this elite group would receive 40.7 percent of the tax cuts that go to Tennessee residents under the tax proposals from the Trump administration. A much larger group, 48.0 percent of the state, earns less than $45,000, but would receive just 4.5 percent of the tax cuts.
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August 17, 2017 In Montana 44.5 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Montana population (0.4 percent) earns more than $1 million annually. But this elite group would receive 44.5 percent of the tax cuts that go to Montana residents under the tax proposals from the Trump administration. A much larger group, 48.5 percent of the state, earns less than $45,000, but would receive just 4.1 percent of the tax cuts.
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August 17, 2017 In Texas 51.6 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Texas population (0.3 percent) earns more than $1 million annually. But this elite group would receive 51.6 percent of the tax cuts that go to Texas residents under the tax proposals from the Trump administration. A much larger group, 46.2 percent of the state, earns less than $45,000, but would receive just 3.7 percent of the tax cuts.
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August 17, 2017 In Alabama 41.5 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Alabama population (0.4 percent) earns more than $1 million annually. But this elite group would receive 41.5 percent of the tax cuts that go to Alabama residents under the tax proposals from the Trump administration. A much larger group, 48.4 percent of the state, earns less than $45,000, but would receive just 4.3 percent of the tax cuts.
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August 17, 2017 In Kansas 47.1 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Kansas population (0.5 percent) earns more than $1 million annually. But this elite group would receive 47.1 percent of the tax cuts that go to Kansas residents under the tax proposals from the Trump administration. A much larger group, 41.9 percent of the state, earns less than $45,000, but would receive just 4.0 percent of the tax cuts.
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August 17, 2017 In Utah 41.9 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Utah population (0.3 percent) earns more than $1 million annually. But this elite group would receive 41.9 percent of the tax cuts that go to Utah residents under the tax proposals from the Trump administration. A much larger group, 41.0 percent of the state, earns less than $45,000, but would receive just 5.3 percent of the tax cuts.
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August 17, 2017 In Virginia 48.0 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Virginia population (0.6 percent) earns more than $1 million annually. But this elite group would receive 48.0 percent of the tax cuts that go to Virginia residents under the tax proposals from the Trump administration. A much larger group, 43.5 percent of the state, earns less than $45,000, but would receive just 5.1 percent of the tax cuts.
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August 17, 2017 In Iowa 36.9 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Iowa population (0.4 percent) earns more than $1 million annually. But this elite group would receive 36.9 percent of the tax cuts that go to Iowa residents under the tax proposals from the Trump administration. A much larger group, 43.0 percent of the state, earns less than $45,000, but would receive just 7.0 percent of the tax cuts.
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report August 17, 2017 Nearly Half of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million Annually
A tiny fraction of the U.S. population (one-half of one percent) earns more than $1 million annually. But in 2018 this elite group would receive 48.8 percent of the tax cuts proposed by the Trump administration. A much larger group, 44.6 percent of Americans, earn less than $45,000, but would receive just 4.4 percent of the tax cuts.
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August 17, 2017 In Indiana 39.8 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
A tiny fraction of the Indiana population (0.4 percent) earns more than $1 million annually. But this elite group would receive 39.8 percent of the tax cuts that go to Indiana residents under the tax proposals from the Trump administration. A much larger group, 43.8 percent of the state, earns less than $45,000, but would receive just 5.6 percent of the tax cuts.