The Shocking Math of the GOP Tax Plan

Adam Davidson: “If it gives us nothing else positive, the Republican tax plan—and, in its Senate form, the health-care repeal—at least provides clarity. There is no debate. The middle class will, in the long run, pay more in taxes than under current law, and the rich will pay less.”

“Just ask the very people who wrote it. The U.S. Congress Joint Committee on Taxation is run by the chairs of the House Ways and Means Committee and the Senate Finance Committee—Representative Kevin Brady and Senator Orrin Hatch, respectively. The Joint Committee’s reports of this week make startling reading, or as startling as a series of spreadsheets of tax revenue data can be. The report shows that this bill is much like a teaser rate on a new credit card: there are some goodies in the first couple of years, but those disappear fairly quickly, at least for those below the median income.”

“The report shows that the rich benefit and the poor are hurt in every way that it measures.”