{"id":179683,"date":"2017-11-27T22:51:00","date_gmt":"2017-11-28T03:51:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/11\/27\/a-feature-not-a-bug-11\/"},"modified":"2017-11-27T22:51:00","modified_gmt":"2017-11-28T03:51:00","slug":"a-feature-not-a-bug-11","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/11\/27\/a-feature-not-a-bug-11\/","title":{"rendered":"A Feature, Not a Bug"},"content":{"rendered":"<div>A CBO analysis has shown that <a href=\"https:\/\/www.washingtonpost.com\/news\/wonk\/wp\/2017\/11\/26\/senate-gop-tax-bill-hurts-the-poor-more-than-originally-thought-cbo-finds\/\">the Senate Republican tax bill is even worse for the poor than previously thought<\/a>:<\/div>\n<blockquote><p><span style=\"color: blue;\">The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation\u2019s poorest would be worse off, according to a <a href=\"https:\/\/www.cbo.gov\/publication\/53348\">report <\/a>released Sunday by the nonpartisan Congressional Budget Office. <\/p>\n<p>Republicans are aiming to have the full Senate vote on the tax plan <a href=\"https:\/\/www.washingtonpost.com\/news\/business\/wp\/2017\/11\/26\/gop-leaders-in-advanced-talks-to-change-tax-plan-in-bid-to-win-over-holdouts\/\">as early as this week<\/a>, but the new CBO analysis showing large, harmful effects on the poor may complicate those plans. The CBO also said the bill would add $1.4 trillion to the deficit over the next decade, a potential problem for Republican lawmakers <a href=\"https:\/\/www.washingtonpost.com\/news\/business\/wp\/2017\/11\/20\/house-gop-tax-plan-would-fall-1-3-trillion-short-of-paying-for-itself-study-finds\/\">worried about America\u2019s growing debt<\/a>. <\/p>\n<p>Democrats have repeatedly slammed the bill as a giveaway to the rich at the expense of the poor. In addition to lowering taxes for businesses and many individuals, the Senate bill also makes a major change to health insurance that the CBO projects would have a harsh impact on lower-income families.<\/p>\n<p>By 2019, Americans earning less than $30,000 a year would be worse off under the Senate bill, CBO found. By 2021, Americans earning $40,000 or less would be net losers, and by 2027, most people earning less than $75,000 a year would be worse off. On the flip side, millionaires and those earning $100,000 to $500,000 would be big beneficiaries, according to the CBO\u2019s calculations. (In the CBO table below, negative signs mean people in those income brackets pay less in taxes). <\/span><\/p><\/blockquote>\n<p>Silly rabbit.&nbsp; Republicans think that people are poor because they are evil, and that people are rich because they are virtuous.<\/p>\n<p>Just ask the Kochs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A CBO analysis has shown that the Senate Republican tax bill is even worse for the poor than previously thought: The Senate Republican tax plan gives substantial tax cuts and benefits to Americans earning more than $100,000 a year, while the nation\u2019s poorest would be worse off, according to a report released Sunday by the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[446,364,508,480],"class_list":["post-179683","post","type-post","status-publish","format-standard","hentry","tag-budget","tag-evil","tag-social-safety-net","tag-taxes"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179683"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=179683"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/179683\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=179683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=179683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=179683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}