Taxes

Report: The GOP Tax Plan Will Hike Taxes on Low-Income People

JM Ashby
Written by JM Ashby

According to the Joint Committee on Taxation (JCT), Americans earning as little as $10,000 will see their taxes go up under the Senate Republican tax cut bill, and that's just the beginning.

Taxes on people making between $10,000 and $30,000 would increase in 2021 (just 2 years after the bill takes effect in 2019) and then again at the end of 2026 when the meager benefits included in the bill, such as a higher standard deduction, expire.

Tax hikes for households earning $10,000 to $30,000 would start in 2021 and grow sharply from there. By the year 2027, Americans earning $30,000 to $75,000 a year would also be forced to pay more in taxes even though people earning over $100,000 continue to get substantial tax cuts. [...]

The decision to include a repeal of the individual mandate would lead to 13 million more uninsured, the Congressional Budget Office has said. Senate Republicans also made most of the individual income tax provisions expire at the end of 2025, which is why most taxpayers below $75,000 end up paying more after a decade.

The JCT has calculated the loss of health care coverage as a tax increase because coverage will become more expensive and those who don't have coverage will pay for subsidies through their tax dollars even if they aren't receiving a subsidy.

Republican say that's not a fair calculation to make because subsidies are paid to insurers, not individuals, but that's not entirely true. It may be technically true, but it's not the spirit of the law.

In any case, these changes all come in service of making tax cuts for corporations and the rich permanent. The end game is a permanent tax hike on the working class to make tax cuts for the rich permanent.

To be clear, the Joint Committee on Taxation is not some partisan think tank or third party, it's a nonpartisan congressional committee that performs a function similar to the Congressional Budget Office.

  • muselet

    I wonder how many reliably Republican voters recognize the bait-and-switch going on right in front of their eyes.

    My guess is some number very close to zero.

    –alopecia

  • Wildson

    Let me get this straight:

    “Real Americans” were saying “Don’t tax me bro” for eight years, and had their taxes go down (and more jobs, health care, Bin Laden fish food, etc…)

    But now they are about to get taxed the fuck out, and crickets?!?

    πŸ€”πŸ€”πŸ€”πŸ€”πŸ€”πŸ€”πŸ€”πŸ€”

    • Draxiar

      Yup. The TEA (Taxed Enough Already) Party was only ever about President Obama being in office and not Whitey Corngood.

    • Aynwrong

      Republican voters would rather pay more in taxes than pay the psychological tax of having to admit they were wrong and even worse, admitting that the liberals were right.

  • Georgie
  • Aynwrong

    The tax plan passed in the House. I’m watching Paul Ryan stand in front of the House R’s, smiling and clapping the lot of them. These people don’t function as legislators. They’re middle managers for the Koch Brothers.

    Just sickening…

    • Badgerite

      Ryan has one priority. Do away with the social safety net of the New Deal. FDR was one of our greatest presidents. Ryan is an errand boy.

  • Just another way the Republicans want to pass their fiscally irresponsible plan off to the next President who will most likely be Democratic. They do it every single goddamned time.

    • Draxiar

      Thus perpetuates the tired moniker of β€œtax and spend Democrat”. Honestly I don’t think such a thing ever existed and that all along it was just Democrats paying the bills.

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