Debunking Liberal Lies About Tax Reform - Chapter 2

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The GOP tax reform proposals are just another giveaway to "the rich." President Trump insisted that millionaires and billionaires not see their income tax rate slashed under the GOP plan, and he got his way in the House-passed bill (the Senate bill would reduce the top tax bracket rate by just one point). That still hasn't stopped the Left from endlessly repeating their favorite talking point about any and every Republican tax idea ever proposed. First, I'll remind you that "the rich" already pay a disproportionately high percentage of America's tax tab. The data spells out how they contribute their "fair share" (another popular buzz phrase), and then some. Of course an across-the-board tax cut and reform plan will benefit many of the people who are shoveling mounds of cash out the door and into Uncle Sam's bottomless coffers. But can the Senate plan be broadly construed as a sweetheart deal for the very rich? Back to Riedl's analysis -- which, again, is rooted in numbers from the liberal TPC:

Even a proportional tax cut will save wealthier families more money. In 2013 (the latest year for which data are available), the typical family in the top 1 percent paid $420,000 in federal income taxes. The top 20 percent averaged $47,000, and the typical middle-income family paid $2,000. The bottom 40 percent collectively paid zero income tax. It is not easy to give the largest income-tax cuts to those who already pay no income tax. That said, the Senate bill would make the tax code even more progressive. The bottom 80 percent of families currently pay 33 percent of all combined federal taxes, yet would get 37 percent of the tax cuts. By contrast, the top 1 percent currently pays 27 percent of all federal taxes but would get just 18 percent of the tax cuts. The result would be wealthy families paying a larger portion of the federal tax burden.

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