Taxes Coolidge tax cuts Revenue Act Double standard deduction 15% with no material change Micro level 76% of households Corporations getting 40% cut Tax reductions Taxpayers Tax- free estates Paul Ryan 32% public support Idea: to simply 1.47 trillion Free! Tax Cuts and Jobs Act Inflation December 22nd Raised wages Temporary bonus Taxpayers pay less in 2019 Increase GPD by 1.7 Benefits corporations Gift tax Joint committee Liberal 1924 Increases long-run GDP Middle to high incomes see 4-5% Corporate tax rate 51 vs. 48 18,128 economic growth 0.1% making 5 million a year Taxes Coolidge tax cuts Revenue Act Double standard deduction 15% with no material change Micro level 76% of households Corporations getting 40% cut Tax reductions Taxpayers Tax- free estates Paul Ryan 32% public support Idea: to simply 1.47 trillion Free! Tax Cuts and Jobs Act Inflation December 22nd Raised wages Temporary bonus Taxpayers pay less in 2019 Increase GPD by 1.7 Benefits corporations Gift tax Joint committee Liberal 1924 Increases long-run GDP Middle to high incomes see 4-5% Corporate tax rate 51 vs. 48 18,128 economic growth 0.1% making 5 million a year
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Taxes
Coolidge tax cuts
Revenue Act
Double standard deduction
15% with no material change
Micro level
76% of households
Corporations getting 40% cut
Tax reductions
Taxpayers
Tax-free estates
Paul Ryan
32% public support
Idea: to simply
1.47 trillion
Free!
Tax Cuts and Jobs Act
Inflation
December 22nd
Raised wages
Temporary bonus
Taxpayers pay less in 2019
Increase GPD by 1.7
Benefits corporations
Gift tax
Joint committee
Liberal
1924
Increases long-run GDP
Middle to high incomes see 4-5%
Corporate tax rate
51 vs. 48
18,128
economic growth
0.1% making 5 million a year