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Here Is The Full Breakdown That Exposes What The Tax Plan Means For The Middle Class
People are out there on T.V. telling mistruths.
That's an actual quote from Paul Ryan who spoke to reporters on Tuesday about the tax plan he's trying to ram through Congress in order to help shore up the GOP's flagging reputation among the electorate.
As a reminder, between gridlock in Washington, Trump's abysmal poll numbers, and the Roy Moore boondoggle, 50% of registered voters now say they would prefer a Democratic-controlled Congress vs 39% who want Republicans in charge.
As NBC notes,
The Grand Oil Party excels at tax cuts. Always has, always will. It’s the air they breathe and it’s not surprising that wealth distribution to the top 10% began in 1980 with the coming of Saint Reagan
WSJ headline reporting JCT analysis: “Middle Class to Get 23% of Tax Cuts for Individuals Under GOP Bill” … the story …”Middle-income households will get $61 billion in tax cuts in 2019 under the Republican tax plan poised for passage this week, according to an analysis released late Monday by Congress’s Joint Committee on Taxation. That amounts to 23% of the tax cuts …”
According to the Tax Policy Institute the share of Federal Income Tax borne by the top quintile (above $147,700 household income) was 84.2% …
Let’s see … 23% of benefits > 15.7% of income tax burden … hmmm
Assuming the top quintile of households are not included in “Middle Class” it appears, the middle class benefits disproportionately … and that the argument the middle class does not benefit from the recent tax legislation is a canard …
The poor don’t pay taxes anyways so why would they get a benefit from any tax reform?
Consider the ages and money making holdings of ALL congressional operatives.
Guess who is pontificating and who will suddenly benefit from THEIR rethuglican vote buying…
just saying.