House GOP Lowers Taxes On The Rich
You’ve probably heard this story before: House Republicans choose to cut taxes for the rich instead of the poor. On Friday, they did it once again. The House GOP had an opportunity to address an expiring law that would result in a significant tax increase on the poor. Instead, it passed legislation that would cut taxes for high-income Americans. . .
If the House legislation became law, the Center for Budget and Policy Priorities estimated that a couple making $160,000 a year would receive a new tax cut of $2,200. On the other hand, the expiring provisions of the {Child Tax Credit} CTC would cause a single mother with two kids making $14,500 to lose her full CTC, worth $1,725. The CBPP projects that 12 million people, including six million children, would either fall into poverty or fall deeper into poverty if Congress does not extend those 2009 changes. Taken together, these changes would be extremely regressive.
Yup, you guessed.
Click here for reuse options!Copyright 2014 Liberaland
By: Stuart Shapiro
Stuart is a professor and the Director of the Public Policy
program at the Bloustein School of Planning and Public Policy at Rutgers
University. He teaches economics and cost-benefit analysis and studies
regulation in the United States at both the federal and state levels.
Prior to coming to Rutgers, Stuart worked for five years at the Office
of Management and Budget in Washington under Presidents Clinton and
George W. Bush.
32 responses to House GOP Lowers Taxes On The Rich
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Eric Trommater July 28th, 2014 at 22:51
Yeah that will go over like a turd in a punch bowl among their constituents. The attack add writes itself “your congressman voted to take away the child tax credit that makes up more than half of your tax return every year.”
tiredoftea July 29th, 2014 at 00:29
Given the safe seats most of them are in, their constituents will likely cheer them on as fighting for “job creators”!
MIAtheistGal July 29th, 2014 at 06:55
Unfortunately, their constituents fall for the “you’ll be rich someday” lie and keep voting them in.
causeican July 29th, 2014 at 10:14
And the others don’t bother to vote.
Obewon July 28th, 2014 at 23:31
GOP Motto: Tax the poor to feed the Rich!
tiredoftea July 29th, 2014 at 00:27
They would just feed the poor to the rich, if they could.
R.J. Carter July 29th, 2014 at 12:11
Mmmmm, Soylent Green.
tiredoftea July 29th, 2014 at 17:36
Yes, Pate of Edward G.
Obewon July 28th, 2014 at 23:31
GOP motto: Tax the poor to feed the Rich!
tiredoftea July 29th, 2014 at 00:27
They would just feed the poor to the rich, if they could.
R.J. Carter July 29th, 2014 at 12:11
Mmmmm, Soylent Green.
tiredoftea July 29th, 2014 at 17:36
Yes, Pate of Edward G.
peacedreamer July 28th, 2014 at 23:45
Devious slimebags. Maybe Boehner will do his sob routine over the American Dream-myth again. Yeah that’ll work. Breaking true news: John cried all the way to his financial investor. They were tears of joy for ripping off the poor once again.
peacedreamer July 28th, 2014 at 23:45
Devious slimebags. Maybe Boehner will do his sob routine over the American Dream-myth again. Yeah that’ll work. Breaking true news: John cried all the way to his financial investor. They were tears of joy for ripping off the poor once again.
tiredoftea July 29th, 2014 at 00:28
Woo Hoo, the deficit’s gone down, guys!!
tiredoftea July 29th, 2014 at 00:28
Woo Hoo, the deficit’s gone down, guys!!
tiredoftea July 29th, 2014 at 00:29
Given the safe seats most of them are in, their constituents will likely cheer them on as fighting for “job creators”!
labman57 July 29th, 2014 at 00:31
The economic divide within the U.S. has increased dramatically during the 21st century.
And how do fiscal conservatives respond? “Mission Accomplished … but we want an even greater separation of wealth distribution.”
labman57 July 29th, 2014 at 00:31
The economic divide within the U.S. has increased dramatically during the 21st century.
And how do fiscal conservatives respond? “Mission Accomplished … but we want an even greater separation of wealth distribution.”
RioBravoHombre July 29th, 2014 at 00:43
Fuck the rich in this country. My father worked for Mobil Oil for 42 years, and made millions doing so. When he retired, he got a sweet deal: NINE FUCKING MILLION DOLLARS! My father’s entire career was dedicated to destroying the US oil infrastructure, and killing US worker’s jobs. He’s the first one to explain that the workers in the field, the ones who actually get OIL on their hands, were worthless scum who deserved to be paid as little as possible, while he and the top execs got filthy rich. These people get cost of living adjustments as a matter of course, as well as obscene paychecks and bonuses, yet they begrudge the least amongst us a wage that will pay for basic necessities. FUCK THE RICH!
R.J. Carter July 29th, 2014 at 12:11
So I’m just guessing you plan to not accept any future inheritance?
RioBravoHombre July 29th, 2014 at 13:12
Why would I do that? I plan to DO SOMETHING for others with his illgotten gains. You jealous, dude?
cecilia July 29th, 2014 at 21:04
may I humbly ask you invest in battery technology and solar energy?
thank you
chair jackson July 30th, 2014 at 17:52
glad you’ve ‘seen the light’. without poor people doing actual work, and buying the products of rich companies, rich people could make no money. it’s too bad there’s so many idiots in this country who think the rich have a god-given right to the wealth they inherited and the poor have a judgment from god to be bust their asses every day and be treated like sh*t in return.
M A G July 29th, 2014 at 06:55
Unfortunately, their constituents fall for the “you’ll be rich someday” lie and keep voting them in.
causeican July 29th, 2014 at 10:14
And the others don’t bother to vote.
R.J. Carter July 29th, 2014 at 12:09
And 20 years from now, people will point back and show “Look who was in power when taxes were lowered: a Democrat president!” And the great game will continue…
R.J. Carter July 29th, 2014 at 12:09
And 20 years from now, people will point back and show “Look who was in power when taxes were lowered: a Democrat president!” And the great game will continue…
R.J. Carter July 29th, 2014 at 12:11
So I’m just guessing you plan to not accept any future inheritance?
RioBravoHombre July 29th, 2014 at 13:12
Why would I do that? I plan to DO SOMETHING for others with his illgotten gains. You jealous, dude?
cecilia July 29th, 2014 at 21:04
may I humbly ask you invest in battery technology and solar energy?
thank you
chair jackson July 30th, 2014 at 17:52
glad you’ve ‘seen the light’. without poor people doing actual work, and buying the products of rich companies, rich people could make no money. it’s too bad there’s so many idiots in this country who think the rich have a god-given right to the wealth they inherited and the poor have a judgment from god to be bust their asses every day and be treated like sh*t in return.