| WHO BENEFITS FROM THE REPUBLICAN
TAX CUT?
The tax plan agreed to by
the GOP House-Senate tax conferees would give more than two-thirds of its
tax cuts to the best-off tenth of all taxpayers, according to a preliminary
analysis of the agreement released by Citizens
for Tax Justice.
The 60 percent of taxpayers in the middle income quintile and below would receive less than 8 percent of the total tax cuts. Their average tax reduction would be only $138 a year. The best-off tenth of all taxpayers would receive 69 percent of the tax reductions, and get an average annual tax cut of $7,600. "The conferees have taken two terrible tax bills and produced one equally terrible," said Citizens for Tax Justice director Robert S. McIntyre. "These bills spend so-called 'surplus' money that is unlikely to ever materialize primarily to benefit the nation's wealthiest people. The rest of us who will eventually have to pay for this irresponsible behavior should be outraged." Details coming in the next edition of the "Dump Campbell" newsletter. Email for your copy. |