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Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
Posted on 3/28/17 at 8:33 am
Posted on 3/28/17 at 8:33 am
President Trump and House Speaker Paul D. Ryan both want to rewrite the tax code, but their proposals differ on how much tax relief to give the middle class.
Trump wants a tax cut across the board, according to the plan he published during the campaign. He has proposed relief for the wealthy especially, but also for less affluent households. The plan that Ryan (R-Wis.) and his colleagues in the House have put forward would not substantially reduce taxes for the middle class, and many households would pay more.
SNIP
After a decade, 99.6 percent of the tax relief Ryan proposed would have accrued to the wealthiest 1 percent of the country. In Trump's plan, 50.8 percent of the relief would have gone to that group, according to analyses by the nonpartisan Tax Policy Center.
LINK
Trump wants a tax cut across the board, according to the plan he published during the campaign. He has proposed relief for the wealthy especially, but also for less affluent households. The plan that Ryan (R-Wis.) and his colleagues in the House have put forward would not substantially reduce taxes for the middle class, and many households would pay more.
SNIP
After a decade, 99.6 percent of the tax relief Ryan proposed would have accrued to the wealthiest 1 percent of the country. In Trump's plan, 50.8 percent of the relief would have gone to that group, according to analyses by the nonpartisan Tax Policy Center.
LINK
24
Posted on 3/28/17 at 8:35 am to Eurocat
Conservative tax policy has always been a joke. Raise the deficit to the direct benefit of the rich.
This post was edited on 3/28/17 at 8:38 am
Posted on 3/28/17 at 8:35 am to Eurocat
quote:
Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
1. I'm hesitant to believe anything in the Washington Post
2.I'm also hesitant to believe that Ryan is smarter than this.
I'm truly conflicted on this one.
Posted on 3/28/17 at 8:35 am to Eurocat
This is the dem response to all conservative agenda items.
Posted on 3/28/17 at 8:36 am to Eurocat
Paul Ryan is quickly rising on my list of hateable people.
Posted on 3/28/17 at 8:39 am to Eurocat
From the article
quote:
Another reason for the discrepancy in the effects of the plans on the middle class is how Ryan's proposal would affect imports and exports. The plan includes a complex and controversial provision known as a “border adjustment,” which some economists think would increase prices for goods and services imported from overseas.
Eric Toder, an economist at the Tax Policy Center, said the group's initial analysis of this aspect of the plan treated it as a kind of tax on households' purchases, but many experts believe that Ryan's proposal would not have that effect over the long term.
Ryan's plan would be better for the middle class on that more optimistic assumption. “When we do it that way, there actually is a bit of a cut for the middle class,” Toder said
Posted on 3/28/17 at 8:43 am to Eurocat
quote:GHWBush raised taxes . . . disproportionately on the "wealthy"
Ryan tax plan would cut taxes on rich and RAISE THEM on middle class - WaPo
Clinton raised taxes . . . disproportionately on the "wealthy"
GWBush cut taxes temporarily . . . when the cuts expired, taxes increased disproportionately on the "wealthy"
Obama raised taxes . . . disproportionately on the "wealthy"
Yet, despite soaking the rich, it is the middle class who seem to suffer.
Perhaps the WashPo is FOS
Posted on 3/28/17 at 8:45 am to MFn GIMP
quote:
From the article
quote:
Another reason for the discrepancy in the effects of the plans on the middle class is how Ryan's proposal would affect imports and exports. The plan includes a complex and controversial provision known as a “border adjustment,” which some economists think would increase prices for goods and services imported from overseas.
Eric Toder, an economist at the Tax Policy Center, said the group's initial analysis of this aspect of the plan treated it as a kind of tax on households' purchases, but many experts believe that Ryan's proposal would not have that effect over the long term.
Ryan's plan would be better for the middle class on that more optimistic assumption. “When we do it that way, there actually is a bit of a cut for the middle class,” Toder said
LOL.
Great job OP.
Posted on 3/28/17 at 8:47 am to Eli Goldfinger
quote:
This is the dem response to all conservative agenda items.
It's almost like the entire modern conservative agenda consists of "Give rich people more money, and frick the middle class while doing so"
How weird that they ALL fit into that bucket...
Posted on 3/28/17 at 8:48 am to MFn GIMP
quote:
“border adjustment,”
"Border adjustment" is such a nice, new poll-tested name for a tariff.
This post was edited on 3/28/17 at 8:49 am
Posted on 3/28/17 at 8:48 am to Tigerdev
quote:
Conservative tax policy has always been a joke. Raise the deficit to the direct benefit of the rich.
You forget that they want to cut spending across the board completely.
Posted on 3/28/17 at 8:48 am to NC_Tigah
Taxes need to be cut.
You can't cut taxes without the wealthy getting more of a tax cut than the poor simply because the wealthy pay more taxes.
That said PLEASE abandon the idea of a BAT.
You can't cut taxes without the wealthy getting more of a tax cut than the poor simply because the wealthy pay more taxes.
That said PLEASE abandon the idea of a BAT.
Posted on 3/28/17 at 8:49 am to NC_Tigah
quote:
Yet, despite soaking the rich, it is the middle class who seem to suffer.
Yeah, the rich has really been 'soaked' since Reagan.
Posted on 3/28/17 at 8:49 am to Eurocat
I have no idea what "middle class" means in this context...
Posted on 3/28/17 at 8:51 am to udtiger
quote:
Paul Ryan is quickly rising on my list of hateable people.
Based on a WaPo article posted by a liberal shill?
Posted on 3/28/17 at 8:52 am to Eurocat
C'mon man! What do you expect from the WaPooPoo? Truth and accuracy are secondary to pushing their libtard agenda.
Posted on 3/28/17 at 8:53 am to Tigerdev
quote:Ryan =/= Conservative soooo...
Conservative tax policy has always been a joke.
Posted on 3/28/17 at 8:53 am to Eurocat
Estate tax repeal for estates over 10 million will be red meat coverage for Dems and the media.
Posted on 3/28/17 at 8:53 am to BamaAtl
quote:
Yeah, the rich has really been 'soaked' since Reagan.
You really should avoid financial or economic threads.
Posted on 3/28/17 at 8:53 am to BamaAtl
Lol yeah we need to go back to 50%+. Also, great job ignoring capital gains and estate tax.
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