A new non-partisan report exposes the big behind the Trump tax plan. The middle class and lower income people aren’t getting a cut. In fact, their taxes will go up under the Republican plan.
Here is a table based on data from the Joint Committee on Taxation that reveals the middle-class tax cut is a lie:
JCT distributional estimates: Millionaires get 2.2% boost in income without even counting estate tax. Middle class gets far less or nothing. pic.twitter.com/hrWqJOrh32
— Lily Batchelder (@lilybatch) November 3, 2017(Continued Below)
This chart shows that the plan is even worse for lower-income Americans who would see their taxes go up:
BREAKING: JCT (CBO's tax equivalent): GOP tax bill *increases* taxes for lower-income Americans by 2023. Millionaires get massive cuts. pic.twitter.com/p83je933qA
— Topher Spiro (@TopherSpiro) November 3, 2017
The worst part of these numbers is that they don’t include the benefit that the super rich would get from repealing the estate tax.
With rumblings from retiring Republican Sens. Jeff Flake and Bob Corker that suggest that they might be no votes, Republicans are back to having no margin for error, but it never had to be this way. Republicans could have worked with Democrats on a real bipartisan middle-class tax plan, but they decided to go it alone and lie to people about their tax cuts for the rich.
Their plan is a fraud, and it doesn’t matter how quickly they try to jam it through Congress, people are finding out the truth.