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Lily Batchelder @lilybatch
, 7 tweets, 3 min read Read on Twitter
This Ryan interview is a doozy. Here’s an abridged list of outright falsehoods and misleading statements: npr.org/2017/12/01/567… 1/6
Ryan says married couple w/ 2 kids currently owes no fed income tax if income <$12K, with threshold rising to $24K under bill. He shamelessly ignores personal exemptions, to which every TP is currently entitled and both bills repeal. Current threshold is *higher* at $28.9K. 2/6
Ryan says: “The analysis is very clear, this is an average tax cut for every taxpayer on average.” Nope. Here are JCT estimates of House bill. 1st shows many income groups pay more on average. 2nd shows many worse off even assuming workers get 25% of benefits of corp tax cuts 3/6
Here are same tables for Senate bill, which is what final bill is likely to look like. Again, first shows many income groups would pay more taxes on average, including ALL in 2017. Second shows many worse off even after assuming workers get 25% of benefits of corp tax cuts. 4/6
Here are the charts (based on JCT estimates) that @NPRinskeep mentioned and Ryan brushed off. They show House bill raises taxes or leaves out 100M households by 2027. Equivalent number for Senate bill is 156M. And this is assuming workers get 25% of benefit of corp tax cuts. 5/6
Note: 76M tax units pay no federal income tax in a given year (though many are seniors and essentially all pay positive income and payroll tax over time). So that statement by Ryan is wrong too. 5.5/6 taxpolicycenter.org/model-estimate…
Ryan says the Tax Foundation showed bill will lead to about $1T in additional revenue because of faster economic growth. JCT, not the TF, is the official, nonpartisan scorekeeper for Congress. JCT estimates Senate bill will still cost $1T after accounting for growth effects. 6/6
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