Most Americans Worse Off
If the tax cuts were repealed in 2020, the average American would be $26,906 poorer over the next decade. Taxes would go up and incomes would go down in every state, every congressional district, and at every income level. The pain would be felt all across the country.
Depending on where you live, the average taxpayer would lose between an estimated $7,660 and $59,633 in take-home pay. A family of four could be between $10,585 and $101,009 worse off.
These numbers represent both direct tax increases and slower wage growth from what could easily become a flat-line economy under higher taxes. If you like your higher paycheck, you may not get to keep it.
American taxpayers know how to spend their money better than lawmakers in D.C. Washington should let them keep it.
Opponents of the tax cuts have claimed that Americans actually didn’t benefit or that most people’s taxes went up. But the numbers don’t lie. Even The New York Times admits that you (probably) got a tax cut.
Repealing the 2017 tax cuts is not just about taxing American employers at highest-in-the-world rates again. It’s also about raising individual income taxes, cutting the child tax credit in half, shrinking the standard deduction, and curbing new investment for U.S. workers.
And repealing the tax cuts is only part of the left’s tax hike agenda. These figures don’t include the additional losses taxpayers will experience from new and even higher taxes. The left wants to make you pay for misguided and bloated entitlement programs, both old and new.
https://www.dailysignal.com/2019/12...eal-your-tax-cuts-heres-what-that-would-mean/
If the tax cuts were repealed in 2020, the average American would be $26,906 poorer over the next decade. Taxes would go up and incomes would go down in every state, every congressional district, and at every income level. The pain would be felt all across the country.
Depending on where you live, the average taxpayer would lose between an estimated $7,660 and $59,633 in take-home pay. A family of four could be between $10,585 and $101,009 worse off.
These numbers represent both direct tax increases and slower wage growth from what could easily become a flat-line economy under higher taxes. If you like your higher paycheck, you may not get to keep it.
American taxpayers know how to spend their money better than lawmakers in D.C. Washington should let them keep it.
Opponents of the tax cuts have claimed that Americans actually didn’t benefit or that most people’s taxes went up. But the numbers don’t lie. Even The New York Times admits that you (probably) got a tax cut.
Repealing the 2017 tax cuts is not just about taxing American employers at highest-in-the-world rates again. It’s also about raising individual income taxes, cutting the child tax credit in half, shrinking the standard deduction, and curbing new investment for U.S. workers.
And repealing the tax cuts is only part of the left’s tax hike agenda. These figures don’t include the additional losses taxpayers will experience from new and even higher taxes. The left wants to make you pay for misguided and bloated entitlement programs, both old and new.
https://www.dailysignal.com/2019/12...eal-your-tax-cuts-heres-what-that-would-mean/
