Debunking Liberal Lies About Tax Reform - Chapter 1

[Spare_change]

A Tax Policy Center analysis of the Senate bill reveals that three-quarters of all families would get a tax cut. Just 12 percent would see a tax increase — and they are concentrated among the rich. The average middle-income family would receive a tax cut of approximately $850 per year through 2025. At that point, Congress would have to vote to extend most of the family tax cuts. This vote would probably be a formality, as a similar vote five years ago to extend the Bush tax cuts for middle-class families passed the Senate 89–8. There is no appetite in Congress to steeply raise middle-class taxes. Even in the worst-case scenario, where the cuts fully expire, the typical middle-income family would receive a cumulative $7,000 tax cut in the early years, followed by a (roughly) $100 annual tax increase later. Still a good deal. How do critics portray this as a middle-class tax hike? By simply ignoring the $7,000 tax cut in the early years, assuming a full expiration after 2025, and then implying that the later tax hike is much larger. That is flat-out dishonest.

MUST READ: Here Are the Facts That Totally Debunk the Two Biggest Liberal Lies About Tax Reform

 

[kiwiman127]

And to add more info!
Taxes and growth – a cautionary graph

 

[william the wie]

Intriguing the CBO graded the whole bill as deficit neutral.

 

[Spare_change]

Intriguing the CBO graded the whole bill as deficit neutral.

... which, given their refusal to consider the potential of economic growth as a result of investment of freed-up money, makes one wonder.

 

[william the wie]

Intriguing the CBO graded the whole bill as deficit neutral.

... which, given their refusal to consider the potential of economic growth as a result of investment of freed-up money, makes one wonder.

Exactly.

 

[deanrd]

If Republicans really believed in their "tax plan", they wouldn't fight the trigger:

GOP Tax Cuts for the Rich: What exactly is a deficit "trigger"?

 

[AntonToo]

If Republicans really believed in their "tax plan", they wouldn't fight the trigger:

GOP Tax Cuts for the Rich: What exactly is a deficit "trigger"?

Deficit trigger is a straight up fucking joke.

I don't give a shit what they pass into law now, no one will be RAISING taxes in the middle of economic downturn.


I curse because it is infuriating how thought and fact free the legislative process has gotten.

THESE TAX-CUTS WILL INCREASE DEFICITS - it is a simple fact. People and corps pay less tax, government gets less revenues - it's not fucking rocket science at a basic level, even if there are some dynamic effects to offset SOME of that reduction.

And the fact is - WE CAN'T AFFORD IT because our long term deficits are ALREADY getting OUT OF CONTROL.