Republican tax bill would add $1.7 trillion to deficit and hurt the poor: CBO
WASHINGTON (Reuters) - The Republican tax bill being debated in the U.S. House of Representatives would add $1.7 trillion to the federal budget deficit over 10 years, when recent changes put forth by the head of its tax-writing panel and estimated debt service costs are included, the nonpartisan Congressional Budget Office said.
“By CBO’s estimate, additional debt service would boost the 10-year increase in deficits to $1.7 trillion,” the office said in a letter on Wednesday
https://www.reuters.com/article/us-usa-tax-analysis/republican-tax-bill-would-add-1-7-trillion-to-deficit-cbo-idUSKBN1D82S2
CBO: Senate tax bill would hurt poor
The Congressional Budget Office (CBO) found that the proposed Senate tax legislation would hurt Americans in the lowest income brackets if passed, The Washington Post reported late Sunday.
The bill would negatively impact individuals who make less than $30,000 per year by 2019, the CBO said, while most of those making under $75,000 would be negatively affected by 2027.
http://thehill.com/policy/finance/domestic-taxes/361913-cbo-senate-tax-bill-would-hurt-poor
Lowest-income Americans would take bigger hit than first thought under Senate GOP tax bill, CBO says
- Lower-income Americans would take a bigger hit than initially expected under the Senate Republican tax bill, according to a new CBO report.
- The changes in the burden on lower-income Americans would come mostly from the bill's health-care effects.
- GOP senators hope to pass the bill this week before reconciling it with one passed by the House.
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GOP same old shit different day. Always for the rich and screwing the rest of us. Trickle down and deficits don't matter when they have the majority.
Here's the thing, Ryan said it would create 890,000 jobs.
So the math is 1.7 TRILLION divided by 890,000 thousand jobs. That means that every job will cost us 1.9 MILLION dollars.
This is the math of 'fiscal conservatism'.
Just like Trump's Carrier deal in Indiana, the money spent for every job kept or created just DOES NOT COMPUTE.
https://www.bing.com/videos/search?q=robot+saying%2c+%22this+does+not+compute%22&view=detail&mid=F059E91907CEDD087C27F059E91907CEDD087C27&FORM=VIRE