Siete
Platinum Member
- May 19, 2014
- 34,325
- 3,988
- 1,130
BOOM !
The real damage to working families will come in the near future; Republicans have already signaled their plans to leverage the deficits that result from their tax plan to gut Medicaid, Medicare and Social Security.
Despite all evidence to the contrary, Republicans continue to tout their tax bills as “middle-class tax cuts.” In reality, the bills making their way through Congress are tax cuts for the rich and big corporations, at the expense of working families.
Any crumbs thrown towards low- and middle-income families disappear at the end of 2025, and left in their place are some tax increases, not cuts. But the tax cuts for big corporations — both cutting the headline rate and giving them tax advantages to offshore profits and jobs — are permanent.
Under the Senate bill, in 2027, households making under $75,000 will see their taxes rise on average according to the Joint Committee on Taxation. And according to the Tax Policy Center, 62 percent of the benefits of the tax plan in 2027 would go to the top 1 percent — households currently making income of $730,000 or more.
The real damage to working families will come in the near future; Republicans have already signaled their plans to leverage the deficits that result from their tax plan to gut Medicaid, Medicare and Social Security.
Despite all evidence to the contrary, Republicans continue to tout their tax bills as “middle-class tax cuts.” In reality, the bills making their way through Congress are tax cuts for the rich and big corporations, at the expense of working families.
Any crumbs thrown towards low- and middle-income families disappear at the end of 2025, and left in their place are some tax increases, not cuts. But the tax cuts for big corporations — both cutting the headline rate and giving them tax advantages to offshore profits and jobs — are permanent.
Under the Senate bill, in 2027, households making under $75,000 will see their taxes rise on average according to the Joint Committee on Taxation. And according to the Tax Policy Center, 62 percent of the benefits of the tax plan in 2027 would go to the top 1 percent — households currently making income of $730,000 or more.