LETTER Who benefits from new tax bill?
The nonpartisan Tax Policy Center has recently released its tax estimate model for the new tax bill. They estimate that people making $25,000 to $49,000 will get $360 back per year; those making $49,000 to $86,000 will receive $930 on average. Rick Saccone’s ad implies that the middle class is getting a $2,900 tax cut. This is a big, steaming pile of horse manure.
The ad takes Conor Lamb to task for pointing out the big lie behind the Republican tax bill. To further clarify, the average weekly increase in take-home pay for the middle 2 quintiles would be $6.92, and $17.88, respectively. The bottom quintile will get a paltry $1.15 extra per week. Sounds like “crumbs” to me. Poor families making $25,000 or less buying new shoes, as the ad depicts, would have to save up several months of tax savings to buy a single pair. Conversely, the wealthy make out like bandits. Someone who makes $3.4 million per year will see his taxes decrease by $193,380, or an extra $3,719 per week. Do you still think it’s a middle-class tax cut?
Paul Ryan is already talking about cuts to “entitlements” to pay for the tax fraud. This could mean delaying retirement and more out-of-pocket medical expenses for our aging population. More ominously, it could mean seniors may not be able to continue living in nursing homes, as Medicaid pays a lot of those bills.
If you think that throwing the elderly out on the streets so President Trump can save more on his taxes is what a great nation should do, or that we should reward a candidate that blatantly lies in his television ads, then by all means vote for Rick Saccone. I’d sooner vote for a talking chimp.