Broke these out to satisfy a morbid curiosity. Upper MC ($160K-$1.1M) are the USA's phytoplankton, paying >50% of taxes. Actual rich pay 20%pic.twitter.com/A8X91vcAO3
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Destruction of the Cities in tax-equivalent yield reductions!
IIRC Trump plan ups the STD Deduction to over $20k. So distortionary deductions like mtg & salt lose most or all value to that fam. Gr8 idea
..meaning they'll pay the same out of pocket. but distortionary effects on decision-making go away. very libertarian pateto-improvement.
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