Washington Post: Welcome to the New Gilded Age

As the corporate welfare is doled out, the same bill widens the gap between the rich and everybody else. The liberal Institute on Taxation and Economic Policy concluded that the middle fifth of Americans would get a modest tax cut of $460 (1.4 percent of their income) in 2018, while the richest 1 percent would have a cut of $64,720 (2.5 percent of their income). Even the conservative-leaning Tax Foundation, using a more favorable methodology, acknowledges the plan would cost the federal government $989 billion over a decade. Read more