Another Democrat narrative buster has just been revealed.
Dems continually lied about the recently passed GOP tax reform bill, claiming the middle class wouldn’t see any cuts. Go figure.
The middle class does get the largest portion of the wide-ranging cuts!
From Cato Institute:
The Joint Committee on Taxation (JCT) has released its distributional analysis of the final Republican tax bill. The bill provides even larger percentage cuts for middle earners than previous versions of the legislation.\
The table below takes estimated payroll and excise taxes out of the JCT data. It shows individual and corporate income tax cuts as a percentage of estimated individual and corporate income taxes paid under current law. Middle-income households will receive by far the largest percentage income tax cuts in 2019.
Democrats this week tried a new approach in their battle against the Republican tax cut bill: lying by omission.
Starting Monday, Democratic leaders released a talking point that said the bill would actually raise taxes on 86 million middle-class households or families, despite GOP claims it would reduce taxes for most people.
“History will indeed remember this vote. Future generations of Americans will remember who cast their votes to raise taxes on 86 million middle-class households,” said House Minority Whip Steny Hoyer, D-Md., on the House floor.
What Democrats tried to hide is that their statement is based on one part of the Tax Policy Center’s analysis of the GOP bill, which focused on what would happen in 2027, after the individual tax cuts are set to expire.
What’s the immediate impact of the GOP bill, starting in 2018? Why, tax cuts for almost everyone, of course.