Lily wrote:
It took about 20 seconds to find the answer. Obviously, you did it want the answer or you’d have found it. Twitbrain!
IRS Data: Middle Class Americans Saw Significant Tax Reduction from Trump Tax Cuts
As the data notes, Americans with incomes between $50,000 and $100,000 saw a substantial decline in their tax liability:
* Americans with adjusted gross income (AGI) between $50,000 and $74,999 saw a 15.2 percent reduction in average tax liabilities between 2017 and 2019.
* Americans with AGI of between $75,000 and $99,999 saw a 15.6 percent reduction in average federal tax liability between 2017 and 2019.
Middle-class Americans in key states were delivered significant tax cuts:
* Floridians with AGI between $50,000 and $74,999 saw a 19.6% reduction. Floridians with AGI between $75,000 and $99,999 saw a 17.2% reduction.
* New Yorkers with AGI between $50,000 and $74,999 saw a 18.9% reduction. New Yorkers with AGI between $75,000 and $99,999 saw a 12.4% reduction.
* Californians with AGI between $50,000 and $74,999 saw a 18.4% reduction. Californians with AGI between $75,000 and $99,999 saw a 14% reduction.
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The TCJA also caused millions of Americans to see an increased child tax credit, and millions more qualified for this tax cut for the first time. The TCJA expanded the child tax credit from $1,000 to $2,000 and raised the income thresholds so millions of families could take the credit.
It took about 20 seconds to find the answer. Obvio... (
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I knew I saw this someplace before. And yes, the article is somewhat true but a % of AGI isn't a tax refund. Now this article says that someone earning 50K would have a 15 to 26% reduction. In AGI yes but AGI isn't a tax cut. By using AGI this article is saying that someone earning 50K will lower their AGI by 7,500 to 13,000 not see a refund of 7,500 to 13,000. Also, there were provisions to lower AGI before the Trump tax cut so only part of that number would be due to the Trump tax cut and your article didn't separate out the two....