Posted on 11/14/2017 3:42:59 AM PST by DoodleDawg
epublicans say tax reform will benefit middle-class families. Yet one of the key tax breaks in their proposal, an increase in the child tax credit, will mainly benefit the rich.
Under the Senate’s tax bill, couples earning as much as $1 million would be newly eligible for the proposed $1,650 child tax credit. Low-income families would see little to no benefit from the increase because of the way Republican lawmakers structured the credit.
The parents of 10 million children — those earning around minimum wage — would get a tax break of $75 or less under the highly touted increase, according to an analysis from the liberal Center on Budget and Policy Priorities. Meanwhile, millionaire and six-figure-earning parents would be newly eligible for what has traditionally been a tax break for the middle class.
(Excerpt) Read more at huffingtonpost.com ...
Not tone deaf. Greedy. The swamp is in constant need of dead bodies.
So. President Trump can claim Barron? LOL
The top 1% of all earners pay 31.9% of all the taxes, but taxpayers with incomes below $30,000 filed nearly 44% of all returns but paid just 1.4% of all federal income tax – in fact, two-thirds of the nearly 66 million returns filed by people in that lowest income tier owed no tax at all.
I loathe every one of these scurrilous scum bags.
They seem to be incapable of writing a law that is simple, clean and honest.
Every law they write is loaded down with lard and pork, loopholes and hidden favors.
Well, duh. I'm not questioning the math, I'm questioning the need for someone making a million dollars a year to get another $1650 credit on their taxes to help pay the cost of raising a child. You honestly don't see anything wrong with that? Really?
A working mom makes $250,000 a year. She places her young one in child day care and receives the full child day care credit. Assume she has a housekeeper come in while she's at work and the housekeeper is paid minimum wage. She has to put her young one in child day care when she's at work. Because she receives such a small income, she does not receive the full child day care credit.
Good going, "Republicans". You must be real proud about pleasing Ivanka.
The middle class is being destroyed as the upper tier garner obscene income. Maybe they should pay 100% of federal taxes until the middle class is restored.
HuffPo? Next we’ll be posting the NYT! The Republicans aren’t interested in fixing the economy or helping the middle class, but there was a time when conservatives would have said millionaires are entitled to the same treatment as all other citizens. Envy is a Leftist tool.
The mantra begins: “tax cuts for the rich.”
Puh lease
Minimum wage taxpayers?
Lets stop talking about how puny are the tax breaks for people who pay little to no tax and get an income redistribution check from the IRS
The middle class pays the highest portion of their income in comparison. In other words, our real, spendable income in more greatly reduced than the one percent. The one percent is simply a red herring statistic. Ridiculous attempt at justifying the continued overtaxation of the middle class by saying hey.. we are worth 50 million and we feel your pain.
It’s a perpetual lie. While I have to choose between a surgery so I can keep working and replacing my 17 year old car, so I can keep working.. what is the guy worth 50 Mil choosing between?
Flat tax for all.
Im not sure how you derived your accusation. I said nothing about “the rich”. I was referring to government swamp creatures. And, here you are defending them.
You should take your class warfare schtick back to North Korea, Comrade.
| Income level | Average Income | Percent of total US income | Percent of total US taxes paid |
|---|---|---|---|
| Lowest 20% | $15,700 | 3.30% | 2.00% |
| Second 20% | $31,900 | 6.90% | 5.10% |
| Middle 20% | $50,500 | 11.10% | 9.80% |
| Fourth 20% | $84,200 | 18.60% | 18.40% |
| Next 10% | $129,000 | 14.25% | 14.80% |
| Next 5% | $183,000 | 10.10% | 10.70% |
| Next 4% | $322,000 | 14.20% | 15.30% |
| Top 1% | $1,827,000 | 21.70% | 23.80% |
Note that the top 20% pay a disproportionate share of the taxes. You apparently think that the harder someone works the more of the fruits of his hard work should be taken away and given to others. How very Democrat of you. I think maybe you must have voted for Bernie. If not you should, because he represents your way of thinking a lot more than Trump.
Adrian Rogers
- You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity
- You cannot multiply wealth by dividing it
- The government cannot give to anybody anything that the government does not first take from someone else
My problem with you and people like you is that you do see something wrong with someone making more money getting a larger tax break. Like I said before - Bernie is your man.
On this we agree; flat tax from top to bottom.
I think we’re close to the realization that unless it has x-amount of badness, there’s no way to get the feckless fake republicans to vote for it....
AND he's providing thousands of jobs.
Perfectly fine, if they qualify.
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