The Trump tax cut is not, except for those in the 1%:
According to the Tax Policy Center, an analysis shows who gets the gravy and who gets screwed by Trump. Medium income in the US is about $55,000 for families, I believe. Two wage earners. Close to that.
The top 1 percent would see their taxes drop by more than $200,000 on average, the analysis found.
But nearly 30 percent of taxpayers with incomes between $50,000 and $150,000 would see a tax increase within a decade — despite Republican promises that the plan is designed to provide relief to middle-class Americans, according to the study.
WaPo: GOP tax plan would provide major gains for richest 1 percent and uneven benefits for the middle class, report says
Most of the lower rich — those making between $150,000 and $300,000 — will pay higher taxes.
It would mostly benefit very high-income households. It may cut taxes modestly for some middle-income households, but it appears to be a far bigger tax cut for high-income households. Individual rate cuts, repeal of the Alternative Minimum Tax and the estate tax, and preservation of tax preferences for charitable giving, mortgage interest, and retirement savings all primarily benefit those with high-incomes. Tax cuts for corporations and, especially, pass-through businesses, would mostly benefit the highest-income households.
Tax Policy Center: Six Takeaways From The White House and Hill GOP's "Big Six" Tax Plan (not the same report WaPo refers to)
A lot of folks, including Trump voters, are getting screwed big time so the real rich can get more. That estate tax repeal will give us the landed gentry of Old England. Perhaps they will bring back primogeniture next.
Update: More on the report from Vox:
The richest 1 percent — households making at least $732,800 — would get an average tax cut of $129,030, the analysis finds. For the typical one-percenter (who earns much more than $732,800), that means 8.5 percent more income after taxes. The richest 0.1 percent, earning at least $3.4 million a year, would get $722,510 back on average, for a 10.2 percent average boost in after-tax income.
By contrast, the middle class (households earning $48,600 to $86,100 a year) would get $660 back, a 1.2 percent income boost. The poorest fifth of Americans, earning $25,000 or less, would only get $60, a 0.5 percent increase.