Monday 23 October 2017

Monday Numbers: On gold mines and shafts

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Chris Fitzsimon exposes the unfairness of GOP tax "reform":

20—amount in dollars of the average federal tax cuts in 2027 for households with children earning less than $75,000 under GOP tax framework released in late September.

230,000—amount in dollars of the average tax cuts in 2027 for households with children earning $1 million or more under GOP tax framework released in late September.

If this issue merely affected income tax rates, it would be bad enough. Even Reagan-era tax cuts gave a nod to the middle class, and his efforts to minimize deficit problems targeted tax shelters for the wealthy, and not deductions everybody used. But these new tax cuts rely heavily on deep cuts to the social safety net, Medicaid in particular:


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