U.S. Congressional Budget Office: Tax Legislation Makes the Rich Richer and the Poor Poorer

According to a report by Jinse Finance, the U.S. Congressional Budget Office (CBO) stated that the House Republican tax bill will increase the wealth of the rich while reducing the income of the poor. The top 10% of earners in the United States will see a 2.3% increase in income, while the bottom 10% will face a 3.9% reduction in income.