Thread by @NGrossman81

(THREAD) Many asking how anyone could be unhappy with a tax cut. No matter the size, it's better than nothing, isn't it?
I can clear this up.
It's because people know tax bills are about trade offs. And factoring everything in, they believe this bill makes them worse off.

About 75% of households will receive a tax cut.
Median income, as of Sept 2017, was $59,039.
According to the NYT tax bill calculator, the median household will receive a tax cut of $380.
That's $31.67 per month, $7.31 per week.
2/x
nytimes.com/interactive/20…

$31.67 per month's not a lot, but it's not nothing either. For households with tight budgets, that could cover some school supplies, a trip to the movies, or a meal.
Not all three. But 1 of them in a month.
3/x

But the tax bill also repealed the individual mandate. As a result, young, healthy people will exit insurance markets, worsening risk pools and increasing premiums.
For millions getting insurance on the individual market, their premium increase will swamp their tax cut.
4/x

The tax bill increases the deficit. Paul Ryan, Orrin Hatch and other prominant Republicans are already arguing that big deficit means we have to cut spending.
Americans who rely on Medicaid, food stamps, ACA subsidies, etc. know losing those benefits will swamp their tax cut.
5/x

Americans know higher deficits put pressure on Social Security and Medicare.
For some, having to care for elderly relatives would swamp their tax cut.
Thinking long term, $31.67 more a month won't help retirement savings, making SS and Medicare cuts even more of a problem.
6/x

Americans know middle class tax cuts expire by 2027. For many, taxes are scheduled to increase in the future.
Republicans say that won't happen, and the cuts will be extended.
But that means the deficit, and all the associated problems listed above, will get a lot worse.
7/x

Now that deficit's bigger, that trillion dollar infrastructure package Trump promised as a candidate is even more unlikely.
For many Americans, functional roads and bridges is more valuable than $31.67 per month.
Others were hoping to get construction work. That's now dashed.
8/x

Republicans say tax cuts will raise wages, but most Americans are skeptical.
Here's a graph of real wages (blue) vs. real GDP (red) since 1980.
The tax cut should help growth, but it won't trickle down.
Wage increases might cover higher living expenses. $31.67 per month won't
9/x

Average Americans know the bill widens economic inequality, and worry that weakens their political power.
They just saw Congress:
-say they had to do what their donors want
-let lobbyists influence a tax bill
-enrich the president & some Senators
Inequality makes that worse.
10/x

So millions of Americans look at the tax bill, weigh the upsides and downsides, and determine it makes them worse off.
And millions who personally benefit care about the millions who'll be hurt.
It's not jealousy. It's not propaganda. It's an honest assessment of the facts.
(END)