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How Trump or Harris tax plans might change your income (slrpnk.net)

submitted 2 weeks ago by ByteOnBikes to c/usa@midwest.social

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Source https://www.barrons.com/articles/trump-harris-tax-rates-plans-cuts-income-e8db90ee

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[–] Aermis@lemmy.world 4 points 2 weeks ago (10 children)

I might break 140k this year living near Seattle for a single income household with 3 children under 6. Is this graph saying that Trump's tax plan will benifit me, a middle class, some would argue lower middle class in this location, better than Harris?

[–] justme@lemmy.dbzer0.com 20 points 2 weeks ago (8 children)

Yes the graph says that your income would be around 0.7% higher. What the dramatic increase of the others will do to the value of your income (inflation) and hence the stuff you can actually effort with this, is up to discussion of somebody who knows this stuff better than me.

[–] DancingBear@midwest.social 12 points 2 weeks ago (1 children)

Raising minimum wage does not cause inflation.

[–] justme@lemmy.dbzer0.com 1 points 2 weeks ago

I didn't say so, did I?

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