GOP Tax Plan Costs $36.6 Bil More Than Dems’ – Swing Voters, You’ve Been Had

Here’s more proof that this “new” crop of Republican leaders in Washington — Boehner, Cantor, McConnell, DeMint and the rest — are the same Bush rubberstampers whose stealthy war on the middle class in the 2000s transferred more of the nation’s wealth up from the nation’s entrepreneurial class to the GOP’s corporate sponsors and their friends, the idle rich, and whose policies caused the economy to crash in September 2008, barely a month before they were turned out of Congress by the voters.

Households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011.

This year they managed to fool swing voters into believing they have changed — that they are against deficits, against spending, against big government — but as this chart clearly shows, their hidden agenda has not changed:

A Republican plan to extend tax cuts for the rich would add more than $36 billion to the federal deficit next year — and transfer the bulk of that cash into the pockets of the nation’s millionaires, according to a congressional analysis released Wednesday.

New data from the nonpartisan Joint Committee on Taxation show that households earning more than $1 million a year would reap nearly $31 billion in tax breaks under the GOP plan in 2011, for an average tax cut per household of about $100,000.

Here’s a chart so simple that even a tea bagger can understand it, followed by an explainer segment on the chart from MSNBC’s Rachel Maddow Show:

chart-dem-gop-tax-cut-plans

20 Comments

  • November 15, 2010 - 9:55 am | Permalink

    How could anyone think that what we really need are more tax cuts for the rich right now? After 10 years of it being proven that these tax cuts for the rich do *nothing* for the economy? When the richest 1% now earns 24% of the income… The rich are richer than they’ve ever been, but the rest of the country is struggling.

    We must end the tax cuts for the rich. Now!

  • Manny
    November 15, 2010 - 12:22 pm | Permalink

    The rich will always think that they need more tax cuts. If I were rich, I would think that I wasn’t rich enough, ever! They sell it as tax cuts for everyone, but leave out the fact that the richer you are, the bigger the cut is. As long as rich people are voted into office they will write the laws to their favor. The government is run by the rich, for the rich. They don’t care about the rest of us. That’s why I’ve never trusted the government and never will.

  • CitizenPlusPlus
    November 15, 2010 - 12:39 pm | Permalink

    * Low/Middle-Income, & All Investments!!, Savings, Retirement, Medical, Charity: 0% tax!!
    * High Income, Spending!!, Estate @ $500k+: 100% tax apportioned!! to cities before states.

  • November 15, 2010 - 1:53 pm | Permalink

    I bet this was made to go against Republicans and make the Democrats look like they don’t use even more money. The Democrats are Rats. And they did not help very much when they had power to right in laws.

  • Dizzy
    November 15, 2010 - 3:43 pm | Permalink

    You can’t call the plan a tax cut…cause the rates are present..it’s the norm. The Dems plan is a tax increase on the job creators

    • November 15, 2010 - 5:21 pm | Permalink

      Dizzy – Where are all the jobs these tax cuts have created over the past 10 years? (Hint: Not in America.)

  • Jeff little
    November 15, 2010 - 3:46 pm | Permalink

    >>Lynard

    If you think the refoxians are going to do anything other than to fuck the country up more you pretty damn stupid. And if you think they are going to repeal any of the heathcare bill besides the part where the companies have to use 80% of there in come then you are a real idiot.

  • Josh
    November 15, 2010 - 4:38 pm | Permalink

    The party system is a big steaming pile right now as it is. Both parties are too busy trying to contradict each other and point the finger. Neither seems to have the best interest in running a Nation right now. True to form like all good sales people, they say what you want to hear and then do what they believe will work out best for them. Neither the Repubs or the Dems has a good handle on the nation right now. The problems are mass media bias and the party system itself.

  • dave
    November 15, 2010 - 4:41 pm | Permalink

    No kiddng I think the Democrats are dum

  • matt
    November 15, 2010 - 4:51 pm | Permalink
  • John
    November 15, 2010 - 4:59 pm | Permalink

    Republicans hate facts. (And spelling.)

  • dylan miers
    November 15, 2010 - 5:28 pm | Permalink

    I think the percentages are quite telling. 1/2 of 1% for people making less than $10K/year. 2-4% for $10-20,000. And the percentage is lower under the democratic plan on the highest bracket (less than 1%) than the republican plan (over 10%). Keeping the percentage even across all income levels would yield $20 to 40,000 for the top level, and a greater tax cut($200 vs. $53) for the bottom level of income. I don’t think the top income bracket would trade with the bottom, as far as the percentages are concerned.

  • lolis
    November 15, 2010 - 6:36 pm | Permalink

    @dave

    Your comment is irony at its finest.

  • John
    November 15, 2010 - 7:18 pm | Permalink

    Right, because cutting taxes for millionaires gives them more money to create jobs. Because thats what they do with their spare discretionary millions in *personal* funds… they don’t sink it into world stocks, mansions and yachts that do nothing to create jobs.

    Look at the figures, over the past decade the rich have gotten richer, and been taxes less, which has NOT resulted in job growth. We tried that policy for a decade and it failed, now get over it.

  • abc
    November 15, 2010 - 8:03 pm | Permalink

    When will people realize that regardless of how much you tax the rich.. they will find tax loop holes, because they can afford to hire lawyers to do so.

  • noreally
    November 15, 2010 - 10:11 pm | Permalink

    Dizzy November 15, 2010 @ 3:43 pm
    “You can’t call the plan a tax cut…cause the rates are present..it’s the norm. The Dems plan is a tax increase on the job creators”

    Actually the point is that they AREN’T the norm, and that Obama wants to return the tax rate to the Clinton era levels. And those are historically low.

    This tax plan is a good idea. We have every reason to think that it will yield positive results.

  • Pingback: Only 38% of Americans think Obama is “Too Liberal.” | 2012 President

  • BDog
    November 16, 2010 - 10:24 am | Permalink

    Hey folks, whenever in HISTORY has as a rich person been made unrich because of taxes??? You get taxed on what you earn, not on what you HAVE. This “taxing the middle class job creators” BS is infuriating. If I’m a business owner and I need to hire people to meet demand, I’m not going to NOT do it because I’ll get taxed on the profit. That’s INSANE!!! I’m still making money, maybe slightly less, ok, but I’m still in the black. If I don’t hire to meet demand, then I’m just an idiot and deserve to go out of business. Repubs have the public brainwashed in this respect, completely backward.

  • Pingback: Tips To Get Your Ex Boyfriend Back |

  • Pingback: 4 Alternatives to Bankruptcy for Repaying Student Loans -

  • Leave a Reply

    Your email address will not be published. Required fields are marked *