What am I looking at? I get more money back in taxes next year?
TraditionalBackspace on
“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,”
Now add the share of the national debt per capita. Basically all this bill does is stop collecting taxes but ramp up the spending. It’s like saying “we’re not paying our credit card bill any more look how much money we’re saving!”
drbigtoe on
If you are making a million a year- is 50k extra really worth adding $3.8 trillion to the deficit?
RussellGrey on
Happy cake day, OP!
Nice illustration. It took me a second to realize what the Now and 2026 lines were showing because a decline in wealth extends down towards the higher quintiles in the chart. A simple fix would be to reverse the categories, but leave the lines between now and 2026 the same. This way when the line declines, it’s declining towards the lower category, which visually implies a reduction of value.
powderhound522 on
– Why are higher income brackets on the bottom
– Why are these very different cohort sizes represented with the same size boxes
I’m guessing that for people claiming single on their taxes?
DeMiko on
I want to see votes based on which group they are in
finnlaand on
It is cool how this represents the will of the people.
f1rstg1raffe on
Great, I get $815 and all I have to do is accept the end of democracy?! What a steal. /s
make sure to r/votewithyourdollar
Solnx on
I’m getting a massive tax cut and it feels so wrong. What horrible and unsustainable policy, but this is what people voted for! Especially the rural 1st and 2nd quintiles.
Illustrious-Beat-370 on
They could have increased the standard deduction to $50,000 per person and decrease the deficit.
But they chose to give the wealthy tax cuts instead..
ce5b on
As someone comfortably in the middle of the 5th quintile, I’m fine without an extra $10k. Please give the bottom quintile their money back
Hi. No thank you. I’ll pay my taxes if you do
Uvtha- on
Thank god those people making under 17k finally have to pay their fair share.
Fuckin a…
Flaky-Wallaby5382 on
Doesnt someone in 4th quartile also have the biggest ability to use the SALT deduction?
Aranthos-Faroth on
I always thought trickle down economics was that wealth trickled down, not debt.
never_said_i_didnt on
I need to confirm that these figures take the entirety of the bill into consideration. Does it include the increased standard deductions? The Enhanced Child Tax credit?
OrneryZombie1983 on
I don’t believe I will actually be seeing any of the “green” implied in this chart.
yodaface on
As someone who makes $100M a year I really needed this. Things were getting tight.
veryblanduser on
I think average total income tax bill would be beneficial as well.
nico282 on
The poor half of Americans will get poorer to let the rich half get richer.
The irony is that the Orange Turd was elected by the bottom half, and they won’t even understand what is happening to them.
!["Big Beautiful Bill" Effect on Income Groups [OC]](https://www.byteseu.com/wp-content/uploads/2025/05/k4nu5hgm3c2f1-1413x1536.png "“Big Beautiful Bill” Effect on Income Groups [OC]")
25 Comments
Created in Illustrator. Data from Penn Wharton Budget Model Table 5, as of May 20: [https://budgetmodel.wharton.upenn.edu/issues/2025/5/20/house-reconciliation-bill-illustrative-calculations-with-permanence-may-20-2025](https://budgetmodel.wharton.upenn.edu/issues/2025/5/20/house-reconciliation-bill-illustrative-calculations-with-permanence-may-20-2025)
What am I looking at? I get more money back in taxes next year?
“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,”
Trump Truth Social post [reported ](https://www.foxnews.com/politics/trump-says-income-tax-cuts-perhaps-elimination-coming-due-tariffs)by Fox News
What a complete joke this administration is.
Now add the share of the national debt per capita. Basically all this bill does is stop collecting taxes but ramp up the spending. It’s like saying “we’re not paying our credit card bill any more look how much money we’re saving!”
If you are making a million a year- is 50k extra really worth adding $3.8 trillion to the deficit?
Happy cake day, OP!
Nice illustration. It took me a second to realize what the Now and 2026 lines were showing because a decline in wealth extends down towards the higher quintiles in the chart. A simple fix would be to reverse the categories, but leave the lines between now and 2026 the same. This way when the line declines, it’s declining towards the lower category, which visually implies a reduction of value.
– Why are higher income brackets on the bottom
– Why are these very different cohort sizes represented with the same size boxes
For anyone confused, check out table 6 from OP’s [source](https://budgetmodel.wharton.upenn.edu/issues/2025/5/20/house-reconciliation-bill-illustrative-calculations-with-permanence-may-20-2025). It makes a bit more sense in my opinion. You can get your percentile from this [website](https://dqydj.com/household-income-percentile-calculator/), it seems. If your number for your age and percentile is negative, this bill passing is equivalent to losing that much money right now. If it’s positive the bill passing is equivalent to being given a check worth that much.
I’m guessing that for people claiming single on their taxes?
I want to see votes based on which group they are in
It is cool how this represents the will of the people.
Great, I get $815 and all I have to do is accept the end of democracy?! What a steal. /s
make sure to r/votewithyourdollar
I’m getting a massive tax cut and it feels so wrong. What horrible and unsustainable policy, but this is what people voted for! Especially the rural 1st and 2nd quintiles.
They could have increased the standard deduction to $50,000 per person and decrease the deficit.
But they chose to give the wealthy tax cuts instead..
As someone comfortably in the middle of the 5th quintile, I’m fine without an extra $10k. Please give the bottom quintile their money back
Hi. No thank you. I’ll pay my taxes if you do
Thank god those people making under 17k finally have to pay their fair share.
Fuckin a…
Doesnt someone in 4th quartile also have the biggest ability to use the SALT deduction?
I always thought trickle down economics was that wealth trickled down, not debt.
I need to confirm that these figures take the entirety of the bill into consideration. Does it include the increased standard deductions? The Enhanced Child Tax credit?
I don’t believe I will actually be seeing any of the “green” implied in this chart.
As someone who makes $100M a year I really needed this. Things were getting tight.
I think average total income tax bill would be beneficial as well.
The poor half of Americans will get poorer to let the rich half get richer.
The irony is that the Orange Turd was elected by the bottom half, and they won’t even understand what is happening to them.
MAGA does not know how to read this.