Tax cuts have been portrayed as beneficial to all Americans. The idea is that everyone gets something, usually some percentage of their income so everyone receives a fair share.
However, tax cuts create deficits. The tax cuts appear to give something back to everyone, until accounting for the deficits they create.
Toggle the impact of deficits to see what tax cuts actually do.
AND DEFICIT IMPACT
Explanation
Most government spending (85-90%) benefits the lower and middle class. For example, jobs in the military, government, and road construction are predominantly middle class. Government programs and healthcare services are mostly targeted for lower income and middle income as well.
Deficits from tax cuts take away funding away from government services that help most Americans, and channel the benefits to the wealthiest ones. Anything most people “get” from a tax cut is lost by their share of the increased deficit.
Tax cuts transfer funds from the lower and middle class to the wealthiest Americans.
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