BE WEALTHY
Even if their cuts are doomed to expire, individual taxpayers across the board will see their federal tax rate decline for five years. That’s especially true for those in the top 95 to 99 percent of earners, who’ll see a 2.2 percent increase in after-tax income. The number declines steadily for lower-income ranges, with an increase of only 0.4 percent for the bottom-fifth of earners. In other words, the progressive tax code just got more regressive.