The Republican tax plan would deliver a major benefit to the top 1 percent of Americans, according to a new analysis by a leading group of nonpartisan tax experts that challenges the White House's portrayal of its effects.
The plan would deliver far more modest tax cuts to most other households — an average cut of $1,700 for households in 2027, according to the report. But the results would be unevenly spread, with 1 in 4 households paying more in taxes.
Despite repeated promises from Republican lawmakers that the plan is designed to provide relief to the middle class, nearly 30 percent of taxpayers with incomes between $50,000 and $150,000 would see a tax increase, according to the study by the Urban-Brookings Tax Policy Center. The majority of households that made between $150,000 and $300,000 would see a tax increase.
Meanwhile, the study found that 80 percent of the tax benefits would accrue to those in the top 1 percent. Households making more than about $900,000 a year would see their taxes drop by more than $200,000 on average. (our emphasis)So, off the top of our heads, dolt Donald "Rump" Trump and/or the New Confederate/ Stupid/ Plutocrat Party:
1) are letting federal funding for the Children's Health Insurance Program funding lapse;
2) are bumbling Puerto Rico aid and suggesting Puerto Rico may not be fully rebuilt;
3) are actively sabotaging the health care system for tens of millions of Americans;
4) have, to date, 4 cabinet officers wasting taxpayer dollars on private jet travel;
5) are fanning petty racial and cultural wars (the "Steve Bannon strategy"); and
6) just nominated a loathsome talibangelist for the Senate in Alabama and are okay with that because -- wait for it -- "he's going to be for tax reform."
With that, we've come full circle.
Ah, Republican values.
