by Countable | 12.12.17
A non-partisan organization known as USAFacts produced a table that shows how the Senate’s version of GOP tax reform legislation would impact taxpayers based on their income and family status.
With lawmakers set to negotiate a final version of the tax bill in conference committee, these numbers are still subject to change, but you can see the tables and how your tax bill would be affected here.
Tell us in the comments what you think then use the Take Action button to tell your reps!
— Eric Revell
(Photo Credit: wutwhanfoto / iStock)
Written by Countable
No cuts to Medicare ! No cuts to Medicaid ! No voucher system for Medicare ! Leave our tax deductions of medical bills alone. This tax bill will destroy the middle class and millions will lose healthcare. Please say no to this horrible ,unfair bill. We the people or large corporations? So many are struggling and this bill will finish them off! We can do better than this!! Vote no!
You know as well as anyone else this so-called Tax Bill is a danger to all of us- middle class. Look at the facts
I am a veteran and an independent voter. I will NEVER vote for anyone who helped pass this tax bill! Shame on you, Republicans! Yeah, we spend a lot of money to keep the federal government funded. But we need to be thoughtful and more efficient, not just make sweeping cuts across the board. (Remember the sequester?) Bringing in less money, and taxing the non-rich, isn’t a solution. And deep down all the lawmakers know this. Those who voted for this bill are NOT looking out for their constituents, and I will work to boot them out of office!
It is so offensive to think that GOP views Americans as stupid - I am committed to erasing that party - for the last three decades they have destroyed America in phony economic and disasters disastrous foreign policy - I hate to watch Paul Ryan stand in front of us and smile while he lies to us
Trickle down economics is demonstrably fantasy, see Reagan, Bush and Kansas abject failures. There is no benefit of tax bills to your constituents, only to your corporate chieftain donors. You are voting not only against interests of your constituents but against their stated wishes: this tax bill is terribly unpopular. As will be its supporters. You will want to oppose it if you are smart.
The use of average numbers to determine tax resulting from new tax law is flawed and does not consider effect of high tax states reductions. Most of older middle class will in reality be paying more federal tax which will pay for the business reduction. Vote against this bill and come up with one that is fair and does not increase the deficit
According to this, I would theoretically be paying about $600 a year less in taxes (until the middle class cuts expire). However, this doesn't take into account the fact that nearly 30% of my income goes to medical expenses (currently deductible, but not under this plan), that a good chunk of my income goes to SALT (currently deductible, but not under this plan) and that I value the continued existence of Medicare, Social Security and Medicare as my family ages. That peace of mind and being able to deduct medical expenses that make it possible for me to have a job in the first place are worth way more than $2/day to me, even if I did end up paying less (which I do not believe would be the case once the increased income due to lost deductions was calculated).
I oppose the current tax plan. It provides too much to corporations & the wealthiest at the expense of the rest of America. Instead of repeating the same failures, the demand side needs to be focused on. This means more deductions for lower income people, more funding for infrastructure, more investment in higher education & technology and more investment in health care. America is currently declining because of the decisions of the current administration, and this tax bill is another nail in the coffin of the American dream. This bill will hurt myself & my family. My future vote depends on your vote against the awful bill.
Economic growth will come from investment in infrastructure projects, education, and preventative health services. This tax plan will cut those things and in the long run create economic decline for most Americans. Congress give up this terrible plan that rewards a select few. The American people will not put up with this nonsense anymore. Drop it. Work in a bipartisan way to bring a sensible and fiscally responsible bill. Close the tax loopholes that reward corporations keep American dollars invested in the country. Stop passing hurtful legislation for your crooked wealthy donors. Defend and protect the constitution like you swore to do. The people are watching your every move. Fed up with the Republican Party and any politician that supports this plan.
The tax bill is a BAD deal for Americans. We need investment in infrastructure to help businesses grow. These investments include efforts to educate American workers, strengthen and improve power grids, communication networks, roads, bridges, and waterways. We need clean water and air, healthy food, and healthy people. We do NOT need a giant deficit and HUGE tax break for rich people and corporations!
Huge tax cuts to millionaires and billionaires at the expense of a deficit of more than a TRILLION dollars is abhorrent. If you vote for this then we will know that you are a pawn for your filthy rich donors.
Similar tax cuts were a demonstrated failure in Kansas. The Legislature eventually had to admit that and reverse them to keep adequately funding their schools. The problem was that the corporations and others who received the benefit weren't held accountable for reinvesting the funds in new industry and jobs. Similar to what I see in the Federal plan. That said, we can expect most of the funds from the corporate tax cut and offshore repatriation of profits to go toward stock buy backs, which boost share prices and executive bonuses. Maybe some will go to dividends. But, that hasn't been the corporate trend lately. Although increased share prices and increased dividends will have a positive impact on 401Ks, most of the benefit will go to the mega stock holders, hedge funds and institutional investors. Without a mechanism to tie the reduced tax rate to investment, it is doubtful the US will see much impact on brick and mortar manufacturing or high wage employment. In addition, so far there is no information to suggest that any reinvestment of the windfall would be tied to investment in the US, instead of low wage countries per the status quo. Overall, cutting taxes to stimulate economic growth has merit. But, the proposed plan is just a dressed up windfall to the investor class and corporate donors, with a few temporary scraps passed out to the rest of us.
Please stand strong against this bill, my poor mother on a fixed income is terrified and there isn't much I can do for her. We all make under the wage for the trillion dollar tax cuts and if trump kicks the dreamers out that's even more the rest of us have to pay to make up for the billionaire tax breaks, and Paul Ryan wants to cut social security earned benefits... this tax plan is wrong and all sane people need to fight it.
How exactly does it make sense for the rich to pay less taxes? can someone explain that to me since im clearly missing something. The middle class and below are the ones who need a tax break if anything. They have this entire bill backwards and this is incredibly upsetting. So many other things factor into family expenses, especially if you are not in the top 20%! You think someone making 115K a year is struggling to pay rent or buy food? why does the senate think we are stupid? The only way to fix this is to educate the masses so that the top 20% cannot control us anymore.
It really says something when the GOP senate tax cut is so mean to the poor and middle class. Also, it is so apparently bad!!!! The GOP really doesn’t hate the poor and middle class. They just don’t care about anybody unless they are rich!!!
If I choose to reduce my income to a point that I can’t pay my bills, I am considered irresponsible- why don’t those rules apply to you? You are going to tank the economy again so that those who bet against it, get rich and those of us that are hardworking and responsible end up financially devastated. No economist will support this plan, why do you?
What if the 1% don’t WANT a tax cut? Warren Buffet doesn’t. Neither does Bill Gates. Why would a person THAT wealthy want MORE money? Not all rich people are greedy bastards like the Republican congress and the president and his administration.
Republicans you lost in Alabama, passing this tax bill for the rich will be another reason to vote you out of office.
The republicans think that their tax plan and repeal of ACA healthcare will save them. They are talking to their base, which if they get them though, their base is hosed and so is the rest of the country. If you tell a lie long enough and over and over, people begin to believe it.
Shame on you, Congress!