GOP Tax Cut Plan Better for Middle Class

It seems the Dems are again going to stick it to the middle class when it comes to tax cuts.

The tax cuts that won committee approval included a $500 credit for workers making up to $75,000 per year. Couples with incomes up to $150,000 a year would receive a $1,000 credit. Individuals with incomes up to $100,000 and couples earning up to $200,000 would qualify for lesser tax breaks.

The Republican alternative envisioned a different approach.

It called for reducing the current 10 percent bracket to 5 percent, affecting a taxpayer's first $8,350 in income, and lowering the existing 15 percent bracket to 10 percent, covering income from $8,351 to $33,950.

So instead of getting a measly $500 tax cut the GOP plan would give a middle class person making $30,000 a year a $1650 tax cut right off the bat. That is $137 a month in savings which could mean a whole week worth of groceries extra per month. The Dem plan gives you just $41.66 a month which is not enough to take a family to the movies.

The Dem plan is only better for people making less then $8350 a year because it gives them an extra an $83 worth of tax breaks per year. That comes out to a measly $6.91 a month which is less then an Arby's value meal.

What the GOP plan needs to do is that if you are making $8350 a year you should be put into a 0% tax bracket because how much money could the government be making from people making such low wages?

So the GOP can say that poor people would get a full $869 per year more under their plan. Then the Dems would not be able to parrot "tax cuts for the wealthy" when the poor would be get back $835 a year under their plan.