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House Republican Budget Would Raise Taxes for Middle Class, Cut Them for Millionaires


US Politics & Gov't  (tags: abuse, americans, congress, dishonesty, economy, elections, freedoms, Govtfearmongering, lies, politics, propaganda, republicans, Taxes )

Kit
- 763 days ago - truth-out.org
"Ryan seems to want to have his cake and eat it, too, and this report shows that you can't," added Sen. Charles E. Schumer (D-NY). "If you want to cut taxes on the rich and not raise the deficit, you're going to have to basically clobber the middle class.



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Comments

Kit B. (277)
Wednesday June 20, 2012, 5:55 pm
Chart from Center on Budget and Policy Priorities

According to a study prepared by the congressional Joint Economic Committee and verified by independent experts, the House Republican budget authored by Budget Committee Chairman Paul Ryan (R-WI) would raise taxes on families making less than $200,000, even while it gives millionaires a tax cut:

So although households earning $100,000 to $200,000 a year would save about $7,000 from the lower tax rates in the GOP plan, those savings would be swamped by eliminating major deductions, according to the report by the Democratically controlled congressional Joint Economic Committee.

The net result: Married couples in that income range would pay an additional $2,700 annually to the Internal Revenue Service, on top of the tax increases that are scheduled to hit every American household when the George W. Bush-era cuts expire at the end of the year.

Households earning more than $1 million a year, meanwhile, could see a net tax cut of about $300,000 annually.

“Ryan seems to want to have his cake and eat it, too, and this report shows that you can’t,” added Sen. Charles E. Schumer (D-NY). “If you want to cut taxes on the rich and not raise the deficit, you’re going to have to basically clobber the middle class.”

According to the non-partisan Tax Policy Center, the Republican budget would also slam those making less than $30,000 per year, because it doesn't extend some of the tax cuts for low-income Americans that President Obama has signed into law:

- See above graph -

Republicans, meanwhile, contend that these analyses are unfair because they have yet to lay out their entire plan, including exactly which tax deductions and loopholes they plan to do away with. But as the Tax Policy Center’s Roberton Williams said, “unless [Republicans] go after the tax preferences that benefit the wealthy, it’s really hard to undo the regressivity of the rate changes. You’ll be shifting the burden of the tax code toward the middle class.”

By Pat Garofalo, ThinkProgress | Report | Truthout |
 

Roseann D. (178)
Wednesday June 20, 2012, 8:56 pm
Don't vote to slit your own throat. Don't vote GOP...and let's force the Dems to grow a spine while we are at it.
 

Janelle Wong (71)
Thursday June 21, 2012, 7:04 am
The real truth -

A Roadmap for Americas Future (click here)
 

Janelle Wong (71)
Thursday June 21, 2012, 7:16 am
The real truth -

A Roadmap for Americas Future (click here)
 

Beverly M. (85)
Thursday June 21, 2012, 7:25 pm
How many times does the Middle Class get clobbered before there is no Middle Class?
 

Kit B. (277)
Thursday June 21, 2012, 7:33 pm

Not to worry, Beverly we are sliding down so fast that soon middle class will be nothing but an empty name.
 

Dandelion G. (381)
Thursday June 21, 2012, 7:41 pm
I agree Kit....middle class....what middle class? Yeah, they are a real sweet deal for the have all they need and more groups. Like drug addicts, it's never enough.
 

Antonia Windham (6)
Thursday June 21, 2012, 9:33 pm
I've no pleasure in contemplating my taxes next year. Loss of Bush tax cuts and higher taxes on top of that. O frabjous day!
 

Frank S. (454)
Friday June 22, 2012, 4:57 am
The Republicans are going to push hard to destroy the middle class. Why? Because the middle class is all that's standing in the way to their absolute plundering of America!
 

Past Member (0)
Friday June 22, 2012, 4:57 am
the only problem with living the dream is one has to be asleep and for many its just a nightmare
silence is acceptance, we are change
life has value beyond measure
Peace and Love
 

Fred Lemon (89)
Friday June 22, 2012, 5:11 am
Just imagine the jobs this plan will most assuredly create - Just like the Bush Tax Cuts - Oh wait that didn't go so well did it? Same old plan with a new name that helped cause the financial mess as Bush finally left.
 

Gloria picchetti (287)
Friday June 22, 2012, 5:13 am
Make the wealthy pay.
 

Anna M. (18)
Friday June 22, 2012, 7:42 am
No intelligent voter would ever vote for the Republicans.
Just goes to show you don't need brains to be in politics, just enough money to buy a seat
 

Kit B. (277)
Friday June 22, 2012, 8:27 am

Everyone seems to want good roads, a solid electrical grid, quick and safe clean up of disaster areas, a good education for the young, cleaner renewable energy sources, safe food and water and no one wants to pay for those things. Taxes are the way we pay for our country to operate, no matter how you label those taxes - taxation it is, and our current revenue is based on ridiculously low tax rates. Too many Americans live in deprivation of the most basic essentials, children are living alone on the streets. We must stop thinking about austerity as an answer, it's been proven to just not work. If you're making over a million a year, should you actually be paying less in taxes then your employees?
 

TomCat S. (286)
Friday June 22, 2012, 9:24 am
Thanks Kit. I guess that trickle down isn't gushing up fast enough to to satisfy Republicans.
 

Kit B. (277)
Friday June 22, 2012, 10:00 am

"Trickle down" has one meaning to most of us, and it isn't green as in cash, rather yellow as in urine. Maybe that should be our marching banner, "don't trickle on me".

American have a history of strong independent attitudes, each wanting nothing more then a job to feed, shelter and protect their family. American workers don't ask for much beyond a job and fair pay for a fair day's work. If the jobs have taken flight overseas, what then is there for the American worker left without a reasonable opportunity to work?
 

Dave C. (213)
Friday June 22, 2012, 11:10 am
not surprised, but disgusted by the lying uncaring greedy selfish planet destroying war mongerers....
 

Roseann D. (178)
Friday June 22, 2012, 12:26 pm
THe GOP trickle down economics...equates to parched and dying masses in the desert all waiting to fight for that one drop of water...or you can look at it as a Golden Shower...that's the only trickle down from the GOP...getting p*ssed on.
 

Past Member (0)
Friday June 22, 2012, 1:25 pm
WE must VOTE THEM OUT! We also must call and write letters not only to our own senators and congressmen, but to those who are doing so much harm, even when they do not represent our states!
 

Yvonne White (231)
Friday June 22, 2012, 2:04 pm
"If you want to cut taxes on the rich and not raise the deficit, you're going to have to basically clobber the middle class."..As if that isn't what's been happening for twelve years straight????
 

Wayne W. (12)
Friday June 22, 2012, 2:36 pm
Thanks, Kit. I've been looking this over since yesterday. There's no possible way the middle class would survive the Ryan/Romney budget, especially at least four years of it. The debt would explode which would then give Republicans the excuse for more cutbacks in services for the middle class, the working poor and the poor.

What trickles down is not wealth, but debt. The recession in no small part is the result of assaults on middle class income which now has reached a point so low that the taxes on it are insufficient to run the country and incomes are so low the buying power cannot support the economy.

Republicans are quoted as saying the analysis is unfair because they have not specified which deductions will be eliminated. If they don't eliminate them all, the deficit would be astronomical. Why don't we all just have our paychecks deposited directly in David Koch's account. Held up without a gun.

 

Cam V. (417)
Friday June 22, 2012, 3:53 pm
The middle class has always been the largest population so therefore have always contributed the most amount of tax to the public coffers. This article you posted is a lie.
 

Janelle Wong (71)
Friday June 22, 2012, 6:31 pm
When someone picks and chooses articles from the press and portrays them as representative of some point in order to try and make a case, that can be misleading. We also see this in the less reputable media where only part of a news item is reported. This is typically done to try and slant the facts to ones personal opinion rather than presenting an unbiased story.
 

pam w. (191)
Friday June 22, 2012, 8:19 pm
That is unbelievably arrogant, isn't it? We "middle class" have always shouldered a big share of the burden but, as we shrink.....who do the Repugnicans think will pick it up?

REMEMBER IN NOVEMBER!
 

Connie R. (2)
Friday June 22, 2012, 10:48 pm
according to a personal financial report filed in late June,Mitt Romney's personal net worth is up to $255 million.which means he is the richest candidate for President in a decade.(in 2000,Steve Forbes(Rep.)was@the time worth $450million) is he worried about MY taxes?...or even my income?? i don't think so.
 

Frank S. (454)
Saturday June 23, 2012, 6:27 am
The middle class of America Pam is the backbone of America. If you break it, (train it.) Then you control the country! Unfortunately, that's it Pam, they know that with the middle-class class out of the way they can run the country and control the wealth of the nation. I believe that they don’t really care about the country being destroyed, as long as the nation’s wealth keeps flowing into their pockets! That’s why we saw the “Wisconsin experiment” it was a test to see if people (the voters) are so gullible as to take their (the Republicans) form of government without balking. In other words they want to take the middle-class down to the level of the poor. Why? Because when you are poor and struggling, you really don’t have time to be paying attention to everything that’s happing in the nation’s affairs, also you don’t really have time to get very involved in anything, cause you are too busy trying to just survive! Ask yourself this question using an analogy. “Why would you want to break the spirit of a wild horse?” Because you want to train him to do, just what you want him to do!
 

JL A. (272)
Saturday June 23, 2012, 7:21 am
Kudos to Schumer and those who want congress and the public to know the truth and use it for decision-making.
 

Nancy M. (201)
Monday June 25, 2012, 8:05 am
Great article Kit. Will now have to read the comments. LOL
 

Kit B. (277)
Monday June 25, 2012, 10:59 am

@ Cam - I do research each article before I submit it for reading. This lying article has substantiation within the context of other article and the federal government, that you may not like the facts doesn't change that they are facts.
++++++

The tax reform plan that House Republicans have advanced would sharply cut taxes for the wealthiest Americans and could leave middle-class households facing much larger tax bills, according to a new analysis set to be released Wednesday.

The report, prepared by Senate Democrats and reviewed by nonpartisan tax experts, marks the first attempt to quantify the trade-offs inherent in the GOP tax package, which would replace the current tax structure with two brackets — 25 percent and 10 percent — and cut the top rate from 35 percent.

Those changes would benefit virtually every taxpayer, but they also would reduce federal tax collections by about $4.5 trillion over the next decade, according to the nonpartisan Tax Policy Center. To avoid increasing the national debt by that amount, GOP leaders such as House Budget Committee Chairman Paul Ryan (Wis.) have pledged to get rid of all the special-interest loopholes and tax shelters that litter the code.

http://www.washingtonpost.com/middle-class-would-face-higher-taxes-under-republican-plan/2012/06/19/gJQAD4auoV_story.html
*****

As ThinkProgress has detailed, the House Republican budget, authored by Budget Committee Chairman Paul Ryan (R-WI), pays for massive tax cuts for the wealthiest Americans by cutting spending from programs that primarily benefit lower-income Americans. While giving an average of $187,000 to each millionaire, the budget finds 62 percent of its cuts from programs that benefit the lower- and middle-classes, kicking millions off of food stamps, gutting Pell Grants, and slashing Medicare and Medicaid.

As if that weren't enough, according to a report from the Center on Budget and Policy Priorities, the budget also raises taxes for low-income Americans:

The Urban-Brookings Tax Policy Center has published new numbers that show the Ryan plan would raise taxes on low-income working families — those making up to $30,000 a year. That’s because, while he would extend the Bush tax cuts, which are due to expire at the end of this year, he would not extend President Obama’s tax cuts for those with the lowest incomes, which will expire at the same time. Our updated report gives the details.

http://thinkprogress.org/economy/2012/04/12/463694/gop-budget-raises-taxes-on-poor/
****

That's but two of the many reports available, maybe Fact Check an organization under the strict bi-partisan guidelines of the Annenberg Foundation would help you see that this is just facts not assumptions. Not even partisan assumptions, just plain old facts.

FactCheck.org/

Read it for yourself.
 
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