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The Senate Tax Proposal Delivers Benefits Directly to the Middle Class
U.S. Senate ^ | November 21,2017 | Katie Niederee & Julia Lawless

Posted on 11/21/2017 1:28:06 PM PST by Brown Deer

November 21,2017

202-224-4515, Katie Niederee & Julia Lawless

The Senate Tax Proposal Delivers Benefits Directly to the Middle Class

Under Finance Committee Plan, a Typical Family of Four Will See Tax Bill Drop by Nearly 60 percent

The Finance Committee tax overhaul delivers benefits directly to the working and middle class through doubling the standard deduction and the child tax credit, as well as lowering rates across the board. Take a look at the real world impact of the Senate plan:

Family of four earning $73,000

Single parent with one child earning $41,000

Married small business owners with income of $100,000

###

Background
Since Hatch became chairman in 2011, the committee has held more than 70 hearings focused on reforming the nation’s broken tax code and has made numerous bipartisan efforts, including drafting option papers and forming working groups, to find consensus on tax reform. For more information about the Finance Committee’s history in the tax space, click here.

To view legislative text for the Tax Cuts and Jobs Actclick here.
A score of the bill may be found here.
A section-by-section of the Tax Cuts and Jobs Act may be found here.


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: 115th; fourth100days; senatetaxplan; taxbill; trumptaxcuts; trumptaxplan
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1 posted on 11/21/2017 1:28:06 PM PST by Brown Deer
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To: Brown Deer

And Santa will deliver me a New Lexus.


2 posted on 11/21/2017 1:30:51 PM PST by rstrahan
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To: Brown Deer

Excuse me.. but I call BS....

The Senate Plan is smoke and mirrors... Seriously this sentence alone tells you the crap it is:

A couple earning $100,000, with $60,000 from wages, $25,000 in compensation from their non-corporate business, and $15,000 of business income, will see a tax cut of more than $2,850.

Why does it matter where or how their income came from??? The fact they are breaking it down that way is to sell the turd, because its a turd.

Take the house plan and vote these bums OUT.


3 posted on 11/21/2017 1:32:33 PM PST by HamiltonJay
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To: rstrahan

Add in the fact that you won’t be able to deduct State and Local tax off your Fed, and that refund disappears. F’n RINO’s.


4 posted on 11/21/2017 1:32:35 PM PST by petercooper ("Democrats are on a collusion course with destiny in 2018." -- Bill Mitchell 5/26/17)
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To: Brown Deer

A family of 4 earning 73k is middle class now?????? LOLOLOLOLOL


5 posted on 11/21/2017 1:34:30 PM PST by lakeman (Semper Fi)
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To: Brown Deer

And that single homeowner in California making $135k will see a tax increase of at least $9,000.


6 posted on 11/21/2017 1:38:29 PM PST by Mariner (War Criminal #18)
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To: lakeman

Median household income in the United States in 2016 was $59,039

http://www.businessinsider.com/us-census-median-income-2017-9

LOLOLOLOLOL


7 posted on 11/21/2017 1:43:00 PM PST by Brown Deer (America First!)
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To: Mariner

And that married couple in Tennessee (or any other state) with 4 kids making $75k on two incomes will lose $12,000 in deductions...whether itemizing or not.


8 posted on 11/21/2017 1:43:45 PM PST by Mariner (War Criminal #18)
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To: Mariner

Where does it say that?


9 posted on 11/21/2017 1:45:41 PM PST by Brown Deer (America First!)
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To: Mariner

So, who cares, if they pay less taxes?


10 posted on 11/21/2017 1:46:53 PM PST by Brown Deer (America First!)
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To: lakeman

Real median incomes in 2016 for family households ($75,062) and nonfamily households ($35,761) increased 2.7 percent and 4.5 percent, respectively, from their 2015 medians. This is the second consecutive annual increase in median household income for both types of households.

https://www.census.gov/newsroom/press-releases/2017/income-povery.html


11 posted on 11/21/2017 1:50:48 PM PST by Brown Deer (America First!)
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To: Brown Deer

Bull. Shit.

Under the republicrat progressive tax plan, my middle class tax liability doubles.

And between my wife and me, we make less than $90,000 a year.

In a west coast state, due to inflation and high income taxes, that is pretty much working poor territory.

I would be better off getting a minimum wage job, and filing for EITC, and would come out ahead financially.

Or even better, brush up on my spanglish, add an “ez” to my last name, and Oregon would literally be throwing cash at me.


12 posted on 11/21/2017 1:52:46 PM PST by factoryrat (We are the producers, the creators. Grow it, mine it, build it. MAGA!)
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To: lakeman

A family of 4 making 73k a year is lower middle class at best.


13 posted on 11/21/2017 1:52:54 PM PST by crusher2013
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To: Brown Deer; nopardons; SkyPilot; Scotswife

“Where does it say that?”

It doesn’t.

And that’s my point.

Of course some folks are committed to the plan, no matter what it does, because they’ve been told their taxes will go down and they will no longer be
“subsidizing blue states”. Hell, those three words alone are enough to sell the plan to a majority of republicans, whether they are true or not.


14 posted on 11/21/2017 1:53:29 PM PST by Mariner (War Criminal #18)
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To: Brown Deer

“So, who cares, if they pay less taxes?”

They won’t.


15 posted on 11/21/2017 1:54:14 PM PST by Mariner (War Criminal #18)
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To: Brown Deer

BS. My taxes are going UP with this abortion of a bill. I swear, if this gets signed into law, I’ll do everything in my power to vote every single one of these bastards out. I don’t care if democrats get in there to replace them, the repubs deserve to have their asses kicked if they raise taxes on this many middle class families.


16 posted on 11/21/2017 2:00:37 PM PST by Sirloin (Whoosh!)
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To: Sirloin

Same.


17 posted on 11/21/2017 2:03:03 PM PST by BookmanTheJanitor
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To: Brown Deer

Its a suicide pact for the gop wing of the uniparty. They desperately want to lose in 2018.

Politics is a scam and we’re suckers for playing.


18 posted on 11/21/2017 2:29:31 PM PST by RKBA Democrat (Christianity and politics don't mix.)
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To: Brown Deer

If the final bill does not get rid of the individual mandate then they can stick it all where the sun doesn’t shine.


19 posted on 11/21/2017 2:48:37 PM PST by Revel
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To: crusher2013
$73,000 a yr is a decent income....

maybe not for all you govt workers and teachers, who always claim how poorly you're paid...

for regular hard working Americans, $73 is okay...

I think most wealthy govt workers don't realize how much they make compare to regular workers..

20 posted on 11/21/2017 2:54:23 PM PST by cherry
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