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Paul Carlson, a CPA and managing partner at Law Firm Velocity, said while maintaining or making the 2017 tax cuts permanent will help middle-class families with everyday expenses, President-elect ...
“Budget cuts could harm middle-class and lower-class families, who rely more on public services like healthcare and education, putting aside the tax cut’s positive effects.”
“During Trump’s first term, the Tax Cuts and Jobs Act (TCJA) of 2017 offered limited benefits to middle-income earners and more extensive benefits to the wealthy and corporations.
24/7 Help. For premium support please call: ... On top of his plan to extend the tax cuts, Trump on the 2024 campaign trail introduced proposals aimed at working- and middle-class Americans ...
While the rhetoric of the left has sought to portray the Republican tax cuts as a negative for the middle class, ... 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us.
In 2027, if the tax cuts are paid for by spending cuts borne evenly by all families, after-tax income would be 3.0% higher for the top 0.1%, 1.5% higher for the top 10%, −0.6% for the middle 40% (30th to 70th percentile) and −2.0% for the bottom 50%.
If he were to win an extension of the 2017 tax cuts, it would mean the standard deduction would remain at elevated levels, rather than being rolled back — something that could help the middle class.
Much has been written about how President-elect Donald Trump's tax policies might affect the rich, the poor and the middle class -- but what about those in the upper middle class who are doing ...