So wait, now CNN is saying we're getting tax cuts?

[Italian_in_NYC 259]

http://money.cnn.com/2017/12/22/news/economy/spending-your-tax-cut/index.html?iid=hp-toplead-dom

 

My favorite part and a great example on how to tweak the numbers in order to get your political points out:

 

"According to the Tax Policy Center's calculations, people in the bottom 90% of the income spectrum will see less than a 2% tax cut in 2018, while people in the top 5% see about a 4% cut."

 

They conveniently don't mention that a big part of the bottom 90% has a zero tax rate. And a considerable part has a negative tax rate.

It's pretty hard to get a tax cut when your rate is zero (even though someone will thanks to the enhanced child tax credit).

[The Nature Boy 7,659]

CNN has become a laughing stock 

[Dashinka 23,324]

3 hours ago, Italian_in_NYC said:

http://money.cnn.com/2017/12/22/news/economy/spending-your-tax-cut/index.html?iid=hp-toplead-dom

 

My favorite part and a great example on how to tweak the numbers in order to get your political points out:

 

"According to the Tax Policy Center's calculations, people in the bottom 90% of the income spectrum will see less than a 2% tax cut in 2018, while people in the top 5% see about a 4% cut."

 

They conveniently don't mention that a big part of the bottom 90% has a zero tax rate. And a considerable part has a negative tax rate.

It's pretty hard to get a tax cut when your rate is zero (even though someone will thanks to the enhanced child tax credit).

I always love the negative tax rate I.e. stealth welfare.  Where was that when I was in that tax bracket?