Currently the chatter on the 'net is that the statistics have been released showing that Trumps tax cuts benefited middle and lower classes and not the wealthy as the Democrats claimed.

Republicans' 2017 tax reform law benefited middle- and working-class Americans the most.
In 2017, President Donald J. Trump and Congress, which was then controlled by members of the Republican Party, passed the Tax Cuts and Jobs Act (TCJA) into law. (Most of its provisions did not go into effect until 2018.)

In a report published by the Tax Foundation less than a week before President Trump signed the TCJA into law, the Tax Foundation noted, "The Tax Cuts and Jobs Act would reform the individual income tax code by lowering tax rates on wages, investment, and business income; broadening the tax base; and simplifying the tax code. The plan would lower the corporate income tax rate to 21 percent and move the United States from a worldwide to a territorial system of taxation."

During the legislative debates that occurred prior to the bill's passage, opponents of the legislation—especially congressional Democrats—argued that TCJA would disproportionately benefit wealthy households and businesses, at the expense of lower- and middle-income American families.

For example, Rep. Nancy Pelosi, who now serves as the speaker of the House, said on November 6, 2017, "Despite Republicans' empty promises to cut taxes for middle class working families, it's clear that the GOP tax plan for the wealthiest is rich indeed."

"House Republicans' tax bill would increase taxes for 12 percent of Americans next year, according to a new report from the nonpartisan Tax Policy Center," Pelosi added. 

The above referenced article which can be read in its entirety here, goes on to point out

According to data from the U.S. Internal Revenue Service comparing outcomes from 2017 to 2018—the first year the tax reform law went into effect—the Tax Cuts and Jobs Act reduced average effective income tax rates for filers in every one of the IRS's income brackets, with the largest benefits going to lower- and middle-income households.

Now in order to pay for their spending spree, Biden and the Democrats have enacted changes to the tax law to assure that everyone reports and pay their share of the growing spending spree.  Until the coming of the Biden administration, online third party payment gateways, such as Paypal. Ebay, Etsy, Venmo, etc., only had to report residual income of users if, the users had transactions (sales) that exceeded $20,000 a year or more than 200 individual transactions.  In other words if Grandma hand pieces quilts and sells those so as to supplement her meager Social Security income she will have to file a tax return.  It takes considerable time to "hand piece" a quilt; my Mom used to turn out one or sometime two a year.

After looking at the above photo, can you imagine how much time it takes to cut each piece of fabric, then sew all of them together?  You can find these works of art similar to he above for anywhere from $1200 to $3000.

The change was actually included in the American Rescue Plan, which was the most recent stimulus package intended to help Americans recovering from the coronavirus pandemic. In an ironic twist, the very package of legislation that intended to put money in the pockets of small business owners and individuals will result in more money being paid to the federal government.  [2]

So Granny spends her retirement cutting and sewing strips of fabric together as in the above picture, then she combines the "top" like you see above with the batting (insulation layer--usually a polyfill material) which can be costly, and the backing, all of which must then be quilted, by hand (for the most sought after work) so obviously there are costs involved.

So granny gets one of the grands to list the quilt on Ebay, Etsy or other venue and sells one or two a year, yes this is taxable income, but more than likely the income will not exceed the deduction allowances given to a Senior Citizen; the point is that Granny will have to report where as before Biden she didn't earn enough to have to go through the effort.

But what about the thousands of young people, who have to work two or three jobs to makes ends meet.  Some single Moms, or stay at home Moms have found that they can make some extra money by selling the clothes the kids out grow on Poshmark or similar reseller venues.  If they have the receipts where they bought the kids clothes and can show that they sold the items at a loss, they owe no taxes, but the point is that the Biden admin is so set on squeezing out every penny from the taxpayer, they are requiring everyone to file who has residual income of more than $600/year.

Going after grannies and single moms for every penny owed is at least an over reach, overly burdening the least able to pay taxes.

The Dems keep saying they are targeting the most wealthy who evade paying their fair share, but now they require everyone making more than $600 to file a return?  This will drive many micro producers, those that sell less than $20,000 a year out of business, destroying small time entrepreneurism.

So who are the most in touch with the working class, Republicans that are proven to lower taxes, or Democrats that raise taxes on the most vulnerable?

[1]MEASURING THE EFFECTS OF THE REPUBLICANS' TAX CUTS AND JOBS ACT ON PERSONAL INCOME TAXES

[2] Small business owners worried as IRS targets digital payments: Thousands could be owed in 2022

 

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