Guess Who Benefits From Republican Tax Cuts?

In news that will shock no one, the Institute for Taxation and Economic Policy has tallied up the results of all the Republican tax cuts since 2000 and concluded that … most of it went to the rich. The average rich household today pays nearly $100,000 less in taxes than they would under the Clinton-era tax code, while the working and middle classes pay about $1,000 less:

ITEP figures that total taxes paid in 2018 are about $600 billion less than they would be if we had just left the tax code alone. That’s nearly the entire federal deficit projected for this year.

Just to make sure you get that: Republican tax cuts since 2000 are responsible for nearly the entire federal deficit. Repeal them all and the budget would be almost balanced.

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We need to start raising significantly more in donations from our online community of readers, especially from those who read Mother Jones regularly but have never decided to pitch in because you figured others always will. We also need long-time and new donors, everyone, to keep showing up for us.

In "It's Not a Crisis. This Is the New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, how brutal it is to sustain quality journalism right now, what makes Mother Jones different than most of the news out there, and why support from readers is the only thing that keeps us going. Despite the challenges, we're optimistic we can increase the share of online readers who decide to donate—starting with hitting an ambitious $300,000 goal in just three weeks to make sure we can finish our fiscal year break-even in the coming months.

Please learn more about how Mother Jones works and our 47-year history of doing nonprofit journalism that you don't find elsewhere—and help us do it with a donation if you can. We've already cut expenses and hitting our online goal is critical right now.

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