Anti-American Congressional Republicans Propose Tax Plan That Raises Taxes On 10 Times As Many People As Democratic Proposal

Anti-American Congressional Republicans Propose Tax Plan That Raises Taxes On 10 Times As Many People As Democratic Proposal

Senate Republicans last week proposed a plan that would raise taxes on more than 20 million Americans, while maintaining the high-end Bush tax cuts. Letting those tax cuts on income in excess of $250,000 expire would affect just two million wealthy taxpayers, by comparison.

Now, House Republicans have adopted the same plan, and the effect is the same: roughly 24 million middle- and lower-class Americans will see their taxes raised so that roughly two million of the richest taxpayers can maintain a tax cut, as this chart from the Center for American Progress’ Seth Hanlon and Sarah Ayres illustrate:

Even worse, more than a third of families with children — a total of 18.6 million households, including 9.2 million single parents — would see a tax increase, according to Hanlon and Ayres’ analysis:

According to the analysis, roughly 11 million American families would lose some or all of the American Opportunity Tax Credit, which provides a tax break on college tuition payments, at an average cost of $1,100 each. About 12 million would lose part or all of the Child Tax Credit, costing them an average of $800, and about 6 million would lose all or part of the Earned Income Tax Credit, which saves each recipient an average of $500.

The Senate GOP plan failed last week, as the Senate instead adopted a Democratic proposal that would extend a tax cut on just the first $250,000 in income.

Yet conservatives are running ads telling small business and middle-class families to beware of Democrats and their tax plan. What they are relying on is that people will just accept what their deceptive ads say and don't do any fact checking.

Per the photo at top, Rep Steve King (R-IA) @SteveKing IA Defends Dog Fighting

Five Things Everyone Should Know About Anti-American Conservative Senate Candidate Ted Cruz

2) Ted Cruz Wants To Gut Social Security: In an interview with the Texas Tribune Cruz labeled Social Security a “ponzi scheme” and outlined a three-step plan to gut this essential program. Cruz would raise the Social Security retirement age, cut future benefits, and implement a George W. Bush-style plan to privatize much of the program. In other words, in addition to forcing them to work longer for fewer benefits, Cruz would place retirees at the mercy of a fickle stock market. Had Social Security been privatized during the career of a worker who retired near the end of the Bush Administration, that worker would have retired with less money in their privatized account than they would have if they’d simply kept their money between their mattress and box spring.