Republicans' Middle Class tax cuts are a sham
Republican politicians in Washington are touting middle class tax cuts as a key feature of “The Big Beautiful Bill”. While I don’t deny the existence of a “middle class” tax cut in this bill (though minuscule as it is), omitted is mention of the overwhelming negative affects of this tax plan. I submit that plan dramatically short changes we the middle class tax payers, as well as those less fortunate among our citizenry.
For example, the Tax Policy Center in a recent analysis reports that individuals making $217,000 or more, representing 20% of the U.S. taxpayers, will receive about 57% of the tax breaks and the remaining 80% of us receives about 43% for the pot.
Further, a report by the Institute on Taxation and Economic Policy (ITEP) points out their analysis that the middle 20% of tax payers will receive only 10% of the tax cuts while the top 5% of tax payers will receive 45% of the net tax cuts next year, and The Congressional Budget Office (CBO) estimate this bill will increase the US Federal Budget Deficit by $3.4 trillion over the next decade.
What a sham that those trillions of dollars in tax cuts awarded to the most wealthy in this county over the next 10 years were funded in a major part by short changing tax cuts for we the 80% of tax payers. Also, these cuts were funded by massive, draconian cuts to safety net programs, including but not limited to Medicaid, Snap and WIC (and other nutritional programs), Fuel Assistance, the Affordable Health Care Act, and humanitarian aid to victims in foreign countries.
The signing of this legislation into law by Republican politicians in Washington is morally unjust, virtuously void, heartless, and a selfish act.
Rich Stuart lives in Thomaston