Too bad Hatch blew back with Nya, Nya, Nya I’m tired of your crap.
A few key statistics would have added real argument to the schoolyard taunts.
The top 1 percent paid 40% of income taxes. That is more than the bottom 90% COMBINED, 29%.
Think about that — the top 1%, the very richest, pay almost HALF of federal income taxes.
But don’t forget the mantra “the rich don’t pay their share” and “the poor are getting screwed.”
“A few key statistics would have added real argument to the schoolyard taunts.”
Like this? Watch Hatch use statistics to prove Democrat obstruction.
“A few key statistics would have added real argument to the schoolyard taunts. The top 1 percent paid 40% of income taxes. That is more than the bottom 90% COMBINED, 29%. Think about that the top 1%, the very richest, pay almost HALF of federal income taxes.But dont forget the mantra the rich dont pay their share and the poor are getting screwed.
if people make more money than someone else wouldn’t you expect that they would also pay more taxes?
given that: the current tax proposals coming out of the house and senate are definitely a tax increase on the middle class tax payers. the elimination of most of the itemized deductions should be a deal killer to all those of our duly elected to represent us who vote them into office, and not as thank you gifts to those corporations who donate the fattest envelopes to their re-election campaigns.
so just as the cost of obamacare was being shouldered by all the healthy young people who had to sign up or pay a fine, this tax bill is being paid for by the average middle class taxpayer for the benefit of big permanent tax cuts for corporations and the wealthy. Touting this as a tax cut to all the middle class deplorables who elected Trump is the same as obama promising that you would save $2500 on your insurance premiums and could keep your doctor. This isn’t a tax cut, but a tax increase for the average American.
the standard deduction is being not quite doubled, but then they are eliminating the individual personal exemptions for yourself, your spouse and your dependents. so they give with one hand but take away with the other. in addition, they are eliminating the extra deduction for those over 65 or blind.
if you take the standard deduction, you cannot then itemize; therefore, giving up the normal deductions for medical expenses, long term care insurance expenses, state and local taxes, property taxes [under the senate bill], mortgage interest deduction limits, student loan interest deductions, moving expenses, alimony, dependent care assistance accounts, casualty and theft losses, unreimbursed job expenses and tax preparation fees.
Now look at its impact on the economic strata of taxpayers to see who benefits the most:
“...the highest-income taxpayers (0.1 percent of the population, or those with incomes over $3.7 million in 2016 dollars) would experience an average tax cut of nearly $1.1 million, over 14 percent of after-tax income. Households in the middle fifth of the income distribution would receive an average tax cut of $ 1,010, or 1.8 percent of after-tax income, while the poorest fifth of households would see their taxes go down an average of $110, or 0.8 percent of their after-tax income.”