The features of the bill that are likely to help ordinary people were catchy and easy to understand—reduced taxes on tips and overtime pay and a higher standard deduction for the elderly on income taxes. Yet these projected revenue losses are tiny compared to those incurred by the super rich.
Ellen Mutari teaches quantitative reasoning at Richard Stockton College and is a Dollars & Sense Associate. Deborah M. Figart is a professor of economics at Richard Stockton College.
