If Trump sticks to the proposals he has laid out on tax reform, the upper-middle class — those in the 80th through 95th percentiles of wealth — will likely end up paying the most, the Wall Street Journal reports. And overall, about 20 percent of taxpayers will pay more.
That's according to a new study by the Tax Policy Center, which analyzed the implications of what we know so far about Trump's proposed tax plan. The TPC found that households earning between $149,400 and $307,900 are most likely to see the greatest increase in taxes, averaging between $3,000 and $4,000 more annually. Of the 19 million households that make up that income bracket, about one-third would be affected.
In total, the report finds, 20 percent of Americans would end up owing more after tax reforms.