The Republican tax bill approved by the U.S. House of Representatives would cost the poorest Americans roughly $1,600 a year while increasing the income of the wealthiest households by an average of $12,000 annually, according to a new analysis released Thursday by the Congressional Budget Office.
Middle-income households would see a boost of roughly $500 to $1,000 per year under Republican President Donald Trump’s tax bill, the CBO found.
The cuts to the lowest-income households come from proposed cuts to social safety net programs including Medicaid and a food assistance program for lower-income people, known as Supplemental Nutrition and Assistance Program.
And the poorest will feel that $1600 painfully. The richest won’t even notice the $12000.
I disagree. The richest are such greedy, vile scumbags that they’ll notice it long enough to chortle with glee.
But then yeah, they’ll promptly forget all about it.