[Oliver_W]

Originally Posted by The Slim Reaper

Joe public are actually worse off under Trump. His tax cut was for the wealthy, and the recent tax fillings from those not at the top highlight this as a fact.

Separating Economic Facts From Fiction on the Trump Tax Cuts

How much will I save this year?

A: Last year’s tax reform cut taxes for the vast majority of Americans.

Using IRS data, The Heritage Foundation found that average households in every congressional district will get a tax cut in 2018. Most Americans are already receiving their tax cut through lower employer withholding.

The average American can expect a $1,400 tax cut this year, and a family of four will get a $2,900 reduction.


Q: What does the Tax Cuts and Jobs Act mean for the economy?

A: Workers have been better off almost every year since America started its slow climb out of the Great Recession in 2009, but this year is different. Things aren’t just a bit better; we’re setting records.

This summer, manufacturing activity hit its highest level in 14 years, the economy is in the midst of the longest-running period of businesses adding new jobs, and wages are increase faster than they have since 2009, when we were first climbing out of the bottom of the Great Recession.

Many workers are benefiting twice from the tax cuts. First, by paying less in taxes, and second from higher wages generated by a faster-growing economy.

The Heritage Foundation recently calculated that, over the next decade, the typical American household will reap an additional $26,000 in take-home pay, thanks to the cuts and the economic growth they fuel.

For a family of four, the 10-year benefits are almost $45,000. That’s more than enough to buy a new car or to put a down payment on a house.