"In 2018, the average tax bill for all income groups would decline."
So he is not cutting taxes on the rich and raising them on the poor, but instead he is cutting them for both but more for the rich? did i got that right?.
More for the rich is an understatement. About 80% of Trump's tax benefit go to the top 2% most wealthy in the country. 1% for an average minimum wage person is like $14 dollars. 1% for Bill Gates is a whole lot more than that. Many trillions of dollars are taken out of the tax economy, and majorly funneled towards the most wealthy. And the poorest in the country are footing the bill for this, with for example cuts to Medicare by $473 billion, and Medicaid by $1 trillion.
Republican's call this system "trickle-down economics".
It's the (absurd) idea that if you pile up most of the nations wealth on the most wealthy, it will eventually "trickle down" on the middle and lower class. Problem is this has never worked in the US.
This is why the rich mostly fund the republican party, because they want these big tax breaks. To get the people on board, they tell them that they will cut taxes for them as well. Yeah, 1 dollar extra a month for you Timmy, and 500k extra a month for you, Mr Rockefeller. Just don't tell Timmy that he is paying for this in other ways.
Actually, by taxing the top 1% at a much higher rate than everyone else you are propping up your econemy based on their income. Income that they then move out of the country and have the means to avoid paying on which in turn means the goverment has less money. If you eliminate the loopholes for those 1% and lower the tax rate they will end up paying more in taxes ( while still taking home the same amount possibly a little more) which allows you to lower taxes accross the board and "prop up" your economy on the middle class who now have more money to spend. The Democrats like to take one buzzword and twist it into what they want you to believe. You can raise taxes on business and 1% class to 4000% if you like, all that will happen is those companies will all move out of the country and they will find every tax loophole they can to not pay it. You will then need to raise taxes on the middle class who cant get out of paying it......the Democratic way.
