Confusion on how bbb helps high earners?

SALT cap is definitely geared for high earners but the rest is just political bullshite. Certainly concerning individual taxpayers

The estate tax aspect is where it really saves bigger dollars for wealthier people.

The TJCA was scheduled to expire after this year. By definition the extension is a tax cut, which definitely benefits high income earners compared to the tax bracket prior to 2017

Yall need to read about the QBI deduction. That is the real big tax break for the high earners

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The TJCA was scheduled to expire after this year. By definition the extension is a tax cut, which definitely benefits high income earners compared to the tax bracket prior to 2017

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This. Invest and make your money in the market. It's going to boom under Trump. Corporate tax cuts mean higher profits for companies, more profits mean higher share price. Rich people own equities, poor and middle class do not or not nearly to the same degree. The income brackets have been adjusted upward so I'm hoping I can keep my capital gains to 15%. I think couples like $760k or something get the 15%. I can work with that. Especially as I slow down and retire early. I've been assuming 20% capital gains.

This is just the first step to deeper cuts. Direct tax breaks for the rich don't play well for either side.

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High earners got a cut from 39% to 37%. Not really a gamechanger

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I know the progressive tax system is difficult... But at the time it was a very significant tax decrease for high earners.

Using the example of the OP, lets assume his household takes in 600K of standard taxable earned income.

His tax bill prior to TCJA: $160,874
Tax bill with TCJA: $136,720

A savings of $24,154, or 15%.

That is pretty significant

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The TJCA was scheduled to expire after this year.

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I get what you’re saying. But keeping the same brackets we’ve had for years isn’t really a cut - it’s political semantics.

Much better than the alternative though.

Basically all income groups got large tax breaks percentage wise under the TCJA. I don't know why everybody acting all crazy about it.

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Except this is false.

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Rates were lowered for everyone pretty substantially

Helping high earners isn’t really what Trumps about, he’s trying to help the middle class as you accurately stated.

Helping the rich is just spin the Democrats try to put on him.

Be happy for what help you are getting.

Tax the frick out of the rich and socialism / communism with the insiders picking winners and losers are what the other side is about.

From what I can see eliminating income tax for anyone making $200K or less with reduced rates (from what’s being paid now) for those above is the long term goal, but that’s going to take a little while to get there.