First off, this is a guest post on ZeroHedge, so if you don't want to read it or click the link, that's fine.
I want to preface that this does analysis on individual payers, but misses out on that corporations paid much, much less under the TCJA.
But as I have barked on here a ton and Ski argued with me and he's wrong. The SALT deduction cap was the big punishment to the richers.
Analysis
Cliffs: top 1% paid 40.1%, up from 38.5% in 2017.
Most in the top 50% saw increases. Most in the bottom 50% had decreases. Bot 50% dropped from 3.1 to 2.9% of revenue.
I want to preface that this does analysis on individual payers, but misses out on that corporations paid much, much less under the TCJA.
But as I have barked on here a ton and Ski argued with me and he's wrong. The SALT deduction cap was the big punishment to the richers.
Analysis
Cliffs: top 1% paid 40.1%, up from 38.5% in 2017.
Most in the top 50% saw increases. Most in the bottom 50% had decreases. Bot 50% dropped from 3.1 to 2.9% of revenue.
