Monday numbers

Monday numbers

5—number of days since the White House and Republican Congressional leadership released the outline of their major tax reform proposal (“GOP tax plan would provide major gains for richest 1%, uneven benefits for the middle class, report says, Washington Post, September 29. 2017)

30—percentage of taxpayers with annual incomes between $50,000 and $150,000 who would see a tax increase under the plan (Ibid)

80—percentage of tax benefits in the Republican tax reform plan that would go to the top one percent of taxpayers (“A Preliminary Analysis of the Unified Framework, Tax Policy Center, September 29, 2017)

50—amount in dollars of the projected tax cuts for the bottom 20 percent of taxpayers in 2027 (Ibid)

10,610—amount in dollars of the projected tax cuts for the top 20 percent of taxpayers in 2027 (Ibid)

207,060—amount in dollars of the projected tax cuts for the top one percent of taxpayers in 2027 (Ibid)

730,000—minimum amount in dollars of the annual income of the top one percent of taxpayers (Ibid)

1.022 million—amount in dollars of the projected tax cuts for the top 0.1 percent of taxpayers in 2027 (Ibid)

6.747 million—amount in dollars of the average income of the top 0.1 percent in 2015 (Income Inequality in the United States, Inequality.org)

2.4 trillion—amount in dollars the GOP tax proposal would increase the federal budget deficit in the next ten years (“A Preliminary Analysis of the Unified Framework, Tax Policy Center, September 29, 2017)

22,000—amount in dollars of the permanent annual STATE tax cut for the top one percent of income earners in North Carolina from the tax changes made since 2013 (“Costly Tax Cuts in New State Budget Continue Precarious Road Ahead for North Carolina, N.C. Budget & Tax Center, August 2017)

1 million—amount in dollars of the average income of the top one percent of income earners (Ibid)

226—amount in dollars of the state tax cut for middle-income taxpayers from the tax changes made since 2013 (Ibid)

16—amount in dollars of the state tax cut for the lowest-income taxpayers from the tax changes made since (Ibid)

About the author

Chris Fitzsimon, Founder and Executive Director of N.C. Policy Watch, writes the Fitzsimon File, delivers a radio commentary broadcast on WRAL-FM and hosts "News and Views," a weekly radio news magazine that airs on multiple stations across North Carolina.
chris@ncpolicywatch.com
919-861-2066