Americans must speak up now before it is too late. They have the choice to blindly believe the lies that the Republicans are telling them about the Trump-GOP tax cut scam or they can learn the numbers to make an educated decision.
Republicans are betting that Conservatives and middle-of-the-road Americans will remain ideologically confused and support their tax cut scam. The tax cut scam perpetrated by the Republicans is not at all ideological. It merely is legalized theft, a transfer of middle-class hard earned dollars to the wealthy cloaked as tax reform.
The New York Times article "Republican Plan Would Raise Taxes on Millions" should alarm anyone considering supporting the tax cut scam. The first paragraph says it all.
Nearly half of all middle-class families would pay more in taxes in 2026 than they would under current rules if the proposed House tax bill became law, and about one-third would pay more in 2018, according to a New York Times analysis, a striking finding for a bill promoted as a middle-class tax cut.
Worse, for many, taxes increase is immediate.
President Trump and congressional Republicans have pitched the plan unveiled last week as a tax cut for most Americans. But millions of middle-class families — particularly those with children — would see an immediate tax increase, averaging about $2,000. Among the hardest-hit under the plan would be some of the most vulnerable taxpayers: those with huge out-of-pocket medical expenses.
Independent economists can find nothing to validate Republican claims that nobody in the middle-class will see tax increases.
Analyses published since the plan was introduced last week have consistently found that some middle-class families would see their taxes go up immediately, compared with existing law. One such analysis, from the Institute on Taxation and Economic Policy, found that 8 percent of middle-income earners would pay more in 2018 — and 21 percent in 2027 — with upper-middle-class taxpayers more likely to see their taxes rise.
What is interesting it that those with more complicated finances, likely a large percentage who are in the Republican base, will be affected.
The millions losing out under the bill would largely be families with more complicated finances, who now generally itemize their deductions. The bill would eliminate many common and valuable tax deductions that, in some cases, would eliminate thousands of dollars in tax benefits. This would be particularly acute for taxpayers who deducted state and local income and property tax payments, interest on student loans, or the cost of health insurance for self-employed workers.
The plan could be particularly costly for Americans facing large medical bills. Nearly nine million taxpayers collectively deducted about $84 billion in medical expenses from their taxes in 2015. The House bill would eliminate that deduction.
Middle-class Americans, irrespective of ideology or political affiliation must heed what the nonpolitical experts are warning about almost in unison. The tax cut scam is a middle-class tax cut facade that will make you poorer. You have the choice to decide if you will accept it or not. Make sure you do the right thing and refuse to be gullible to those who have repeated the same lie as they progressively destroy the middle-class.
Also published on Medium.