Rushed through Congress by a Republican majority, the Trump-GOP tax cuts were promoted as a boon for the middle class. Yet in 2020, according to the Institute on Taxation and Economic Policy, the richest 1% of taxpayers will get an average tax cut of around $50,000, 75 times more than the average cut for the bottom 80%.
One big reason the law is so skewed toward the wealthy is that it gives corporations huge tax breaks. It’s primarily the wealthy who own corporationsThanks to loopholes and the cut itself, tax collections from corporations in the first year of the new law collapsed. ITEP found that the effective corporate tax rate for 379 profitable Fortune 500 corporations was just 11.3% last year. That’s about half the rate Trump’s new law established, which slashed the previous rate by 40%.
opinion Can someone analyze that dudes handwriting? Cuz that signature look crazy AF!
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opinion Well that and a record setting economy and lowestest unemployment in 50 years.
opinion El Segundo Times, focus on local taxes and banana republic legislature by Sacramento liberals. Don't complain about this, you don't complain about 10.25% tax in some California cities. Can't have it both ways. Besides, isn't Califuckedupnia the 'resistance'? Suck it up!
opinion Our year over year tax burden decreased $1000.
opinion Hoov or Hov
opinion Dear LA Times: Obama took my doctors away and made the cost of my insurance 5 times what it was before the ACA, forced me to break into my savings. Nobody I know complained about the bonus checks they got under Trump.
opinion That’s actually not true at all. Middle class is taking home more per paycheck. Any business owner that incorporates dropped their tax rate tremendously. The tax cuts brought over $3 trillion in lost tax revenue. People have more in their pockets bc of them.
opinion Lol... More liberal lies.
opinion It’s 2020. So when is TheLos Angeles Times finally going to change its name to The El Segundo Times?
opinion Check out that signature, the man is obviously mental. And ask a farmer if the middle class got anything but misery from the trump economy.
opinion Please explain this?
DLTrunnell opinion It was never meant to do any good for anyone but the upper class
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opinion Yet, his followers are too stupid to realize they are getting screwed.
opinion Wrong. This is fake news. Record wages, record employment, record 401ks.
opinion freedomcaucus Conservative Republicans are dead and buried along with the Koch sponsored Tea Party. 'Let Trump tread all over me.' is the rally cry.
opinion LATIMES is pro left
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opinion Duh
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opinion It was never a promise, it was a lie. Only the stupidest Americans believe anything that third rate real estate huckster says.
underground556 opinion While Steve Mnuchin raids our treasury.
opinion I'm doing well, no wait I live in California, and I get raped by a state gov. that bends the middle class over on taxes
opinion So much incorrect information in that article! It is laughable. The American middle class worker is in the best financial shape in decades. The bottom 20% of workers are getting a 5% raise this year. Check your fact before publishing such nonsense next time!!
opinion It's far worse than just broken promises. The national debt which is skyrocketing because of these tax cuts and ongoing undeclared wars is going to be a drain on future generations as well as an assault on social security and Medicare which will be reformed to pay this travesty.
opinion Should be a no brainier for a Dems win, unfortunately his base is brainless.
opinion I disagree, since Trump has been in office I’ve been making more money and having a better life.
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opinion I love how the MSM keeps trying to push this narrative, I’ve yet to see anyone who hasn’t benefited, I have friends who vote Democrat and even they have said the tax cuts have been great for them.
sommermatter opinion The joke is all worn out.
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opinion Big f’cking duh
opinion Par for the course....
opinion Leftist tripe. The rich get more....wait for it...BECAUSE THEY PAY MORE!!!
opinion Nobody believes your OPINION 'Frank Clemente and William Rice.' The people decide if tax breaks are working or not. Trump has made the media irrelevant.
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opinion 'Opinion: The Trump tax cut has amounted to nothing but broken promises for the middle class' KEYWORD...… 'OPINION'. From a propaganda cog wheel that still could not accept they lost 2016 elections.
opinion Looking for Logo, Brochure, Flyer and Business card Designer? Contact I believe in actions rather than words. you give me a chance, I'll fascinate you.🥰 Thank you
opinion Opinion: the politicians in California have done nothing but hurt middle class including increasing fees and taxes on everything and anything, lied about the gas tax, disregard articles we voted for, Made our streets and neighborhoods worse.
opinion Why are people still surprised?
opinion LA Times no one reads you just tweet the rubbish If you fools can check you paystubs before and after you will see the difference, But sure you cant, since you can't figure how many days or hours you bozos are working
opinion As anyone with 1/4 of a brain expected.
opinion Well that was the plan.
opinion Proven: The greatest economic growth always follows LOWEST taxes, developed economies, and lower regulation. When the government attacks all three areas, economic growth declines. Don't let the Dimms/Socialists ever have power again.
opinion Time to raise them through the roof!!!!
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opinion People seem to be ok with the broken promises.
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