Analysis Shows More Than Half of Total Trump-GOP Tax Plan Benefits Go to Richest 5%

It’s simple. Profit-hungry corporations get a permanent windfall and the rich receive massive cuts. Everyone else—sooner or later, like it or not—gets to help pay for it all.

The jewel of the final “morally and economically obscene” GOP tax plan released by Republicans on Friday—now set for a vote this week in both the House and Senate and a signature by President Donald Trump before the Christmas holiday—is a permanent tax giveaway for corporations who will see their marginal rate slashed from 35 percent down to 21 percent.

But because of budget obligations and legislative rules, in order to pay for that massive gift to foreign investors, the wealthiest, and corporations—already, it should be noted, sitting on record profits and mounds of capital—it will ultimately be low- and middle-income Americans who see their taxes rise.

And it should be no surprise. As a weekend New York Times editorial makes plain, the GOP tax plan isn’t only designed to further entrench massive inequality, the bill itself is the direct result of entrenched massive inequality—with the oligarchy that controls most of the nation’s wealth also claiming an outsized and unchecked ability to sway political realities and electoral outcomes.

“As a smaller and smaller group of people cornered an ever-larger share of the nation’s wealth,” the Times explains, “so too did they gain an ever-larger share of political power. They became, in effect, kingmakers; the tax bill is a natural consequence of their long effort to bend American politics to serve their interests.”

But still, the questions remain: who pays and who exactly—besides Trump and many of the GOP lawmakers who will personally enrich themselves due to this last-minute real estate-related provision they inserted—benefits most from the final bill?

A new analysis—titled —released Saturday by the nonpartisan Institute on Taxation and Economic Policy (ITEP) shows that, for individuals, most of the “GOP tax scam” benefits high-income households and foreign investors while raising taxes on many low- and middle-income Americans:

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The above graph, ITEP explained in a statement, “divides Americans into five equal groups based on income and illustrates how only one of these groups, the richest fifth of Americans, will receive more benefits from the tax bill than foreign investors. This is because the biggest tax cut in the bill is the reduction in the corporate income tax rate from 35 percent to 21 percent. The corporate tax cut will mainly benefit those who own shares in American corporations. While some middle-income people own shares, most are owned by high-income Americans and foreign investors.”