Image Source: Pixabay

As you might guess, it’s the top 1 percent.

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Who Gets the Benefits

• The top 1 percent get a tax cut of $75,410.
• The top 5 percent get a combined $96,540.
• The top 10 percent get a combined $105,490.
• Everyone else gets a combined $11,580
• The middle quintile and below get $2,680

The Wall Street Journal discusses this in Trump’s Megabill Cut Taxes. Here’s Who Came Out Ahead.

That’s a free link to the article.

Here’s another way of looking at this.

Average Change in Taxes Paid

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That’s like giving someone who has a penny another penny and bragging you doubled their income.

Finally, here’s another metric, preferred by some economists.

It compares a group’s tax cut to its after-tax income, giving a sense of how financially significant a tax cut is to a particular household. This shows that the biggest winners aren’t the bottom 20% or top 1%, but the group just below the top 1%.

Average Change in After-Tax Income

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One More Way to Look at Things

Tariffs will hit the lower quintiles the hardest because they spend every cent.

I am sure that the combined impact of One Big Beautiful Act Tax coupled with tariffs is a net tax hike on the the first and second, quintiles, possibly even the third.

I have asked the Tax policy center and others to do a detailed analysis, but I have received no replies.

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The average tariff rate seems to be 15 percent plus additional tariffs on copper, steel and aluminum.

That’s a tax hike.

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