Paul L. Caron

Wednesday, October 17, 2018

The TCJA Shifted The Benefits Of Tax Expenditures To Higher-Income Households

Howard Gleckman (TaxVox), The TCJA Shifted The Benefits Of Tax Expenditures to Higher-Income Households:

Until the Tax Cuts and Jobs Act (TCJA), people across the income distribution could say they benefited from the tax code’s many targeted tax benefits. But, according to a new analysis by the Tax Policy Center, the benefits of many itemized deductions have shifted from middle-income households to those with higher incomes.



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Wow, this is weak. Middle income earners gain a benefit through the increased standard deduction. But because the author isn't counting the standard deduction as a tax expenditure, the "tax expenditures" benefits shift to higher incomes. This seems more an issue with the author's labeling of different ways of cutting taxes than with anything substantive.

Posted by: Not this again | Oct 17, 2018 10:57:20 AM