The rich will pay the lowest taxes since the Hoover Administration over 80 years ago
"Today clinched it. American voters can now see for themselves that Republicans are protectorates of the wealthiest and Big Oil — just in case they weren’t aware of this previously. Medicare is taking a dive in order to give the wealthy more dominance over this country.
The Paul Ryan budget would make life miserable for the elderly, the middle class, and life more cushy for the 1% who will be getting a $265,000 tax cut on top of what they get from the Bush tax cuts for the rich.
Center on Budget and Policy priorities reports:
The Ryan budget includes a number of specific tax cuts, on top of making the Bush tax cuts permanent. All of its new tax cuts are both expensive and tilted toward high-income households. It would cut the top individual tax rate to 25 percent, the lowest level
since the Hoover Administration more than 80 years ago. It would cut the corporate rate to 25 percent and eliminate both the Alternative Minimum Tax and the Affordable Care Act’s increase in the Medicare tax for high-income people.
A new TPC analysis finds that
people with incomes above $1 million would receive a $265,000 average annual tax cut just from the new Ryan proposals (i.e., not counting what they would also receive from extension of the Bush tax cuts). Middle-income taxpayers — those with incomes between $50,000 and $75,000 — would receive $1,045, on average".
The rich will pay the lowest taxes since the Hoover Administration over 80 years ago – FreakOutNation