What “Tax Cuts for the Rich?”

Here’s the rundown of which income groups get the largest and smallest tax cuts in the One Big Beautiful Bill. It’s from former House Ways and Means chief economist Don Schneider. This compares the current 2025 rates with the new proposal. Every income group gets another tax cut, with the biggest benefits going to the middle class. The top 1% about breaks even.

So will the media stop shouting tax cuts for the rich? Yeah, right…

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