Very deceiving.
If you live in parts of NY, IL, NJ, CT, CA, or other states, and you make $101,000 per year, you not "wealthy" or even upper middle class. Your property tax bill alone can exceed $10-15K a year - easily.
When Congressmen from high tax states floated the idea of an income cap (I forget what it was exactly), below which many middle class taxpayers would be protected, Paul Ryan and the Ways and Means Committee told the media "no good." It would not "generated the revenue they need" to pay for the corporate tax cut.
The Washington Post is reporting there is some sort of compromise reached, but they won't release any details. I suspect that is because it is lousy news and they can't stand the flak from the voters. The details probably won't come out until it is too late to change it.
What pays for the corporate tax cut is the revenue generated by the corresponding increase in GDP. That’s the way it worked with the Reagan and Kennedy tax cuts. Trump actually had a number x dollars in revenue per % increase in GDP. It was over a trillion per percent increase in GDP.
Apparently Ryan and many others can’t comprehend that.
Tax reform is the #1 reason I voted for Trump, I want to see 5%-6% GDP. It’s our only hope to fill the bubble before it bursts.