Dannevirke Residents Hit With More Bills And Less Business

(Bloomberg) — Humans learn the concept of fairness at a very young age. After all, it doesn't take long for a child to start whining about a siblingwho gets an extra serving of ice cream. As the Republican-controlled Congress tries to push throughtax reform this year, one group of Americans may similarlyquestion why it's comingup a scoop short.

The upper middle class gets relatively few benefitsand a disproportionate number of tax hikesunder the $1.4-trillion Tax Cuts and Jobs Act approved by the U.S. House of Representatives last week. Families earning between$150,000 and $308,000—the 80th to 95th percentile—would still get a tax cut on average. But by 2027, more than a third of those affluent Americans can expect a tax increase, according to the Tax Policy Center.

If the House bill becomes law,overall benefits for the upper middle class will start out small, and later vanish almost entirely.


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