The Who’s Who of Cantor’s Tax Cuts for the Rich and Famous

Today, House Republicans passed Leader Eric Cantor’s latest tax cuts for the rich and famous, disguised, of course, as a job-creating small business bill.  Even The Wall Street Journal describes this as a “ploy” and a “gimmick” while “Republicans stumble over another temporary tax cut.” 

Here’s who’s who with this wolf in sheep’s clothing: 

WHO gets the jobs? NO ONE 

Former Reagan Economic Advisor Bruce Bartlett: “The Republican tax plan will do nothing whatsoever to increase employment. It is nothing more than an election year give-away to a favored Republican constituency and should not be taken seriously.”

Joint Committee on Taxation: The economic impact of the bill is “so small as to be incalculable.”

WHO pays the $46 billion bill? MIDDLE CLASS FAMILIES 

ThinkProgress: “After Demanding Offsets For Payroll Tax Cut, GOP Won’t Offset ‘Small Business’ Tax Cut For Millionaires”


New York Times: “Despite the Mom-and-Pop label, it is designed so that nearly half of the tax cut would go to people with annual income over $1 million, and more than four-fifths would go to those making over $200,000, according to the Tax Policy Center.”

Joint Committee on Taxation: The bill delivers an average tax cut of $58,800 to 125,000 millionaires.

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