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Washington Post: The richest Americans get a $33,000 tax break under the GOP tax law. The poorest get $40.

Wanted to be sure you didn’t miss this important look at how skewed the GOP tax law is toward the wealthiest in America while leaving the middle class behind. The Washington Post Wonkblog walks through a new Tax Policy Center report on how the wealthiest 1% of Americans are seeing thousands of dollars in tax breaks while working families will not see even 1/20th of the benefits of the law. Here’s a look the highlights:
 
“The Republican tax law passed last fall will give the richest 1 percent of Americans an average personal income tax break of about $33,000, while the poorest Americans will receive an average personal income tax break of $40, according to a new study published this week by nonpartisan analysts.”

“The Tax Policy Center, a D.C. think tank, has produced its first analysis of how the GOP law's changes to personal income taxes alone — rather than that of the law overall — affect the rich and poor.”

“The new TPC report isolates the impact of the law's personal income taxes, suggesting that the corporate cut does not alone account for the law offering its biggest gains to wealthier Americans.”

“‘While most of the corporate tax cuts flow to the top of the income distribution, what this shows is that even in the direct changes to the individual side of the tax code, most of those changes are still being allocated to the top,’ said Kim Rueben, a senior fellow at TPC.”

The biggest winners are the richest 1 percent of Americans, or those earning more than $732,800 every year. The smallest bump goes to the poorest income bracket, defined as earning less than $25,000 annually.”