Media twist tax plan studies to claim it hammers middle class
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Title : Media twist tax plan studies to claim it hammers middle class
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Title : Media twist tax plan studies to claim it hammers middle class
link : Media twist tax plan studies to claim it hammers middle class
news-today.world | Many media outlets loudly claim that both the House and Senate versions of tax reform harm the middle class and poor. But is it true?
A New York Times headline Tuesday blares that the Senate bill “Increasingly Rewards [the] Wealthy.”
As evidence, the Times cites a government study. “By 2027 … Americans earning $75,000 a year and below would, as a group, see their taxes increase, because individual tax cuts are set to expire at the end of 2025,” the Times reported.
A New York Times headline Tuesday blares that the Senate bill “Increasingly Rewards [the] Wealthy.”
As evidence, the Times cites a government study. “By 2027 … Americans earning $75,000 a year and below would, as a group, see their taxes increase, because individual tax cuts are set to expire at the end of 2025,” the Times reported.
But that pertains only to what happens after the scheduled expiration of cuts. The Times makes no mention of the cuts the middle class would see under the plan next year, or of the fact that Republicans are counting on the cuts to be extended. The expiration at the end of 2025 is widely seen as a “budget gimmick” to minimize the apparent impact on the deficit and keep the impact under $1.5 trillion over 10 years, easing the way for passage under Senate rules.
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