rightwinger
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- Aug 4, 2009
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Another tax break for the rich at the expense of the poor and working poor
Senate GOP tax bill hurts the poor more than originally thought, CBO finds
The Senate Republican tax plan would give substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation's poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.
By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to CBO calculations.
Senate GOP tax bill hurts the poor more than originally thought, CBO finds
The Senate Republican tax plan would give substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation's poorest would be worse off, according to a report released Sunday by the nonpartisan Congressional Budget Office.
By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to CBO calculations.