Newsflash: Tax Cuts Benefit Rich

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Naturally, the Center on Budget and Policy Priorities has everything you need to know about the latest capital gains tax cut passed by the House and Senate. Republicans apparently had to use every trick in the book to try to hide the cost of the bill. And CBPP’s graph in the middle is especially striking: Households with incomes of over $1 million will reap an average of $41,977 from the cut, while the bottom 40 percent of taxpayers will receive an average of $10. Hot damn; now I can finally pay off those library fines…

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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