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1. D Robb
     (11/22/2017 9:10:52 PM)
     Message ID #294145

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A new nonpartisan analysis of the GOP tax plan makes it much, much harder for any GOP senator with principles to embrace it. The analysis, which is the work of the Tax Policy Center says by 2027, around 50 percent of taxpayers will see a tax hike. The whole purpose of this tax increase is to make it possible for Senate Republicans to pass a tax cut that overwhelmingly benefits the very wealthiest taxpayers — on party lines, without any Democrats.
Using the data from the TPC’s analysis, the author created two charts that boil down the story of the Senate tax bill. The first chart details the average tax change for each major income group, by year, if the Senate plan becomes law, in dollars:
https://www.washingtonpost.com/blogs/plum-line/wp/2017/11/21/the-trump-tax-plan-is-much-worse-than-you-thought-a-new-analysis-confirms-it
This shows that the plan actually gets more regressive over time. The tax cuts for the four lower-income quintiles basically shrivel up and disappear by 2027, with the two lowest quintiles ultimately seeing either a tax hike or no change, while the middle and fourth see the tax cut dwindle away to almost nothing. By contrast, in 2027, the top one percent sees an average tax cut of more than $30,000, and the top 0.1 percent sees an average tax cut of more than $200,000 — more than double what it was in 2019, and a good deal more than it was in 2025.
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