Senate Plan Would Raise Taxes on the Poor, a Report Says

[Yo_Mama_Been_Loggin]

WASHINGTON — The congressional Joint Committee on Taxation said on Thursday that the latest version of the Senate tax bill would effectively raise taxes for lower-income Americans by 2021.

An analysis by the nonpartisan committee projected that, if the Senate bill becomes law, Americans earning $30,000 a year or below would pay higher taxes beginning in 2021 than they would if the bill is not enacted. The projected increase stems from the bill’s repeal of the Affordable Care Act’s mandate that most people have health insurance, a provision that was tucked into an amended version of the legislation this week.

The projections assume that repeal of the so-called individual mandate would result in many lower-income Americans choosing not to buy insurance, and thus not claim tax subsidies that help them defray the costs of health coverage.

As a result, their total tax liability would rise.

https://www.msn.com/en-us/news/politics/senate-plan-would-raise-taxes-on-the-poor-a-report-says/ar-BBF3GkR?li=BBnb7Kz&ocid=edgsp

[Freethinker65]

1. +100.

[Doreen]

2. In one way or in many the poor end up paying the most.

You learn this when you are poor. Why do you think I do not tend to feel so bad for the middle class and their bitching about being taxed or things becoming more expensive. It will become tight for the middle class and things will be more expensive but the poor are much more likely to completely loose everything and it does not take long either. The less you have the faster you tend to lose it.

[rickford66]

3. Just looked back at the 2016 Federal Tax Tables

If you have $5.00 in taxable income, your Federal tax is $1.00. That's 25% tax on the poorest filer.