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.
I don’t think this is anywhere close to describe the real effect of the trillions the big ugly bill gives in tax cuts to the rich.
Just a quick example: 2 trillion spread evenly on ALL Americans including pensioners and children, would give every American almost $7000 per year each!