April 19, 2016

The Commercial Appeal: Mississippi tax cut deal: $415 million in cuts over 12 years

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“Like most other proposed income tax cuts, benefits would flow most to high-earning households. Projections from the liberal-leaning Institute on Taxation and Economic Policy show the lowest-earning 20 percent of taxpayers, making $16,000 or less, would save an average of $14 a year. Those earning in the top 95 percent to 99 percent of households, with incomes from $156,000 to $324,000, would collect an average of $271 a year. That’s in part because high-income households are more likely to have two earners.”

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