Make no mistake
NRCC BUT WITH FACTS N’ STUFF | DECEMBER 7, 2017
Make no mistake—this bill is a tax increase for millions of Americans.
The bill definitely raises taxes on the middle class:
Analyses published since the plan was introduced last week have consistently found that some middle-class families would see their taxes go up immediately, compared with existing law. One such analysis, from the Institute on Taxation and Economic Policy, found that 8 percent of middle-income earners would pay more in 2018 — and 21 percent in 2027 — with upper-middle-class taxpayers more likely to see their taxes rise.
Even Speaker Ryan’s hypothetical examples would see savings “frittered away over time:”
But as the tax bill is written, that savings is frittered away over time. Republican lawmakers insist that expiring provisions will not expire; the tweet even says Cindy will get $700 “each year under our tax bill.” But then they should be forthright and explain that they have not figured out how to fund the full tax cuts either. There are no guarantees in tax policy, and lawmakers should not pretend that there are.
And ultimately receive a tax hike:
Running the math on these claims reveals exactly what the top priority is in the House Republican tax bill — corporate tax cuts, not tax cuts for middle-class families. So, as the bill is written, even the poster family Paul Ryan handpicked to support the bill would lose out by year 10.
Ryan was even forced to admit that he “misspoke” when he said every taxpayer would get a tax cut:
Ryan has admitted he misspoke and changed his language. […] Still, on at least three occasions over three days, Ryan spoke in sweeping terms that flatly stated every taxpayer would get a tax cut. That’s wrong and misleading, and ordinarily worthy of Four Pinocchios. Even if one assumes that all of the tax provisions remain in place — a big assumption — millions of Americans will still see a tax hike, even if the average person in their income range might receive a tax cut.