The Atlantic

Why the GOP Tax Cut Will Make Wealth Inequality So Much Worse

The richest 1 percent now own 40 percent of the country's wealth. Under this bill, they’d own more.
Source: Susan Walsh / AP

Within a week, Republicans will probably pass a corporate tax cut that is one of the most unpopular major pieces of legislation in modern American history. This is a rather curious distinction for a bill that cuts taxes for nearly every American family.

How can a trillion-dollar tax cut be so unpopular?

One possibility is that Americans don’t like the bill because they don’t understand what it does. of Americans don’t think that the Republicans’ bill will reduce their taxes (TPC) finds that the vast majority of the country, including 90 percent of middle-class families, will get a tax break.

You're reading a preview, sign up to read more.

More from The Atlantic

The Atlantic7 min read
How to Murder Harry Potter
In “deathfic,” writers of fan fiction find unexpected comfort in killing off their favorite popular characters.
The Atlantic12 min read
The Politics of Dignity
A commitment to equal dignity can pull together a nation that Trump has devoted himself to dividing.
The Atlantic5 min read
Why British Reality TV Is Starting to Play Nice
Conflict is drama—and high drama is the essence of reality television. That has been the accepted wisdom in Britain for two decades, since Big Brother cooped people up in a shared house and forbade them access to anything which might stop them gettin