The visual says it all. Reverse Robin Hood.

[kpete]

Please distribute:

?1513767086

http://www.taxpolicycenter.org/publications/distributional-analysis-conference-agreement-tax-cuts-and-jobs-act/full?utm_content=buffer3dedb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

[Ferrets are Cool]

1. Every news outlet in the US should be using this image as the lead in...

This is what YOUR repuglican representative just voted for you.

[lostnfound]

2. Left needs to disarm the core ideology and misconceptions about the economy instilled by right

Within minutes people will say, “well it’s THEIR money to begin with”.

Which is true in a sense, but they don’t recognize that we are living in a “company town”, and that in the future (I mean NOW), the price of a lifesaving drug will be jacked up to $50;000 a year and their homes in the big cities will be instantly unaffordable, to be bought at fire sale prices by wealthy investors from all around the world (who WILL be able to deduct their entire property taxes and their interest expense), and in the future one ought to discourage ones children from becoming music teachers, artists or social workers because THEIR children will not have access to health care or education.

Only stock analysts, bankers and real estate moguls are to be treated well, in the future. The new American dream.

[Amishman]

3. I don't believe those numbers

The doubling of the standard deduction and child credit will mean modest savings to most low to middle income households, not a tax increase

Bad charts like this will hurt our credibility when people start seeing some extra money in their paychecks.

The lead story needs to be that this shifts the tax burden further from corporations and onto people and that this will grow the debt. This is the real problem with the fucking bill

[intheozone]

4. Doubling the standard deduction

will give joint filers an additional $12K, but if the joint filers have just 1 dependent, they will lose $12K in personal exemptions. I believe the tax bill does away with the personal exemption deduction. If it does, then joint filers with 1 dependent will not see any benefit from the doubling of the standard deduction and joint filers with more than 1 dependent will be paying taxes on more income than they would under the existing tax code.

[Fred Sanders]

6. I agree. Everyone IS going to get a tax cut ok but who gets the bulk of it and who suffers by

other cuts like to Obamacare via the individual mandate.

It is massive BRIBE favoring corporations and the rich and payed for by printing more money. That is how I see it after looking at the numbers.

[Fred Sanders]

5. Sorry, but this image is misleading. It is tax cut distribution for 2027 ONLY as the cuts expire.

From the headnote to the image:

DISTRIBUTIONALANALYSIS OF THECONFERENCE AGREEMENTFOR THE TCJA TAXPOLICY CENTER| URBANINSTITUTE&BROOKINGSINSTITUTION

2027, the overall average tax cutwould be $160,or 0.2percent of after-tax income (table 3), largely because almost all individual income tax provisionswould sunset after 2025.On average, taxes would be littlechanged for taxpayers in the bottom 95 percent of the income distribution. Taxpayers in the bottom two quintilesof theincome distribution would face an average tax increase of 0.1 percent of after-tax income; taxpayers in the middle incomequintile wouldsee no material changeon average; andtaxpayers in the 95thto 99thincome percentiles would receive an average tax cut of 0.2percent of after-tax income. Taxpayers in the top 1 percentof the income distributionwould receive an average tax cut of 0.9percent of after-tax income, accounting for 83 per cent of the total benefit for that year."

The real problem is immediate as the top earners vacuum up the benefits with tiny benefits for everyone else, not to mentik the for the rich only loopholes and deductions:

DISTRIBUTIONALANALYSIS OF THECONFERENCE AGREEMENTFOR THE TCJA TAXPOLICY CENTER| URBANINSTITUTE&BROOKINGSINSTITUTION

WINNERS AND LOSERS

The impact of the proposal on individual taxpayers differs depending on theirincomesources, demographic and family statuses, and other characteristics that affect eligibility for certain tax benefits. Our estimatesof the number of taxpayers who would pay more tax or less tax than under current lawexcludecertain minor provisions(listed in tables 4, 5, and 6),for which it is difficultto assign the tax changes to specific taxpayers.3In 2018, 80percent of taxpayerswouldreceivea tax cut from the included provisions--averagingabout$2,100--andabout 5percent would face an averagetax increase of about $2,800(table 4).4In the bottom income quintile, 54percent would receive a tax cut and 1percent would face a tax increase. In the middle income quintile,91percent would receive a tax cut and 7percent would face a tax increase. In the top 1 percentof the income distribution, 91percent would receive a tax cut and 9percent would face a tax increase."

[smirkymonkey]

7. Kicking for later reference