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Tue Nov 14, 2017, 02:26 AM

Bipartisan analysis: Senate bill would hike taxes for 13.8M

Source: MSN/Associated Press

WASHINGTON Promoted as needed relief for the middle class, the Senate Republican tax overhaul actually would increase taxes for some 13.8 million moderate-income American households, a bipartisan analysis showed Monday.

The assessment by Congress' nonpartisan Joint Committee on Taxation emerged as the Senate's tax-writing committee began wading through the measure, working toward the first major revamp of the tax system in some 30 years.

Barging into the carefully calibrated work that House and Senate Republicans have done, President Donald Trump called for a steeper tax cut for wealthy Americans and pressed GOP leaders to add a contentious health care change to the already complex mix.

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The analysis found that the Senate measure would actually increase taxes in 2019 for 13.8 million households earning less than $200,000 a year. That group, about 10 percent of all taxpayers, would face tax increases of $100 to $500 in 2019. There also would be increases greater than $500 for a number of taxpayers, especially those with incomes between $75,000 and $200,000. By 2025, 21.4 million households would have steeper tax bills.

Read more: https://www.msn.com/en-us/news/politics/bipartisan-analysis-senate-bill-would-hike-taxes-for-138m/ar-BBETE0d



Reverse Robin Hood in action.

5 replies, 784 views

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Reply Bipartisan analysis: Senate bill would hike taxes for 13.8M (Original post)
TomCADem Nov 14 OP
montana_hazeleyes Nov 14 #1
mdbl Nov 14 #2
pwb Nov 14 #3
onecent Nov 14 #4
DeminPennswoods Nov 14 #5

Response to TomCADem (Original post)

Tue Nov 14, 2017, 05:12 AM

1. Robbing Hoodlum.

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Response to TomCADem (Original post)

Tue Nov 14, 2017, 05:42 AM

2. can't wait to tell my fellow union workers

that voted for trump and every repug Lush Bimbo told them to. How stupid.

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Response to TomCADem (Original post)

Tue Nov 14, 2017, 06:26 AM

3. Yea, they only mention a family of four will have lower taxes. The rest are screwed.

When pukes say look over here? Look over there. Its the family of four fake.

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Response to TomCADem (Original post)

Tue Nov 14, 2017, 07:37 AM

4. Where do they thing the poorest are going to find that kind of money???

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Response to TomCADem (Original post)

Tue Nov 14, 2017, 08:35 AM

5. Everyone who is paying

for assisted living care for a family member or who has large medical expenses will be paying more in taxes if the medical deduction is eliminated. Even with the 7.5/10% of income threshold, these expenses often exceed the standard deduction.

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