Wealthy pay most of the income tax and savings more likely to create jobs than govenrment

NY Times:

Wealthy Benefit Most in G.O.P. Tax Plan, Report Says

The first detailed assessment of the tax plan found that the average tax bill would fall by $1,600, or 2.1 percent, in 2018. But the biggest drop would go to those with incomes above $730,000.
Let's ignore the fact that those making more than $730,000 pay a greater percentage of the income tax than the average taxpayer.  They are also more likely to use the savings to create jobs either through direct investments or buying stuff. 

Never forget all the jobs that were killed by the Democrat luxury taxes on yachts and other items.  It just about destroyed the yacht building industry in New England and many lost jobs as a result.  It has to be one of the dumbest taxes of all time and it was caused by the Democrat obsession with sticking to the rich.  They aimed at the rich and instead shot the small businesses and their employees who provide goods and services to the rich.

If the rich have more discretionary income they can use it to expand their business and create jobs directly or they can use it to buy luxury goods.  If they buy luxury goods, they create jobs for custom furniture makers and jewelers.  Greedy Democrats would rather have that money for their vote buying schemes.

So, it is not the wealthy that benefit the most from the tax cuts but the people who provide goods and services to the wealthy.  The government also benefits from those jobs because it means fewer people dependent on government programs.  That is probably another reason why Democrats hate tax cuts.


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